Taiwan Hon Chuan Enterprise Co (9939) Fair Value & Analysis
Consumer Cyclical · TW · Market cap 38.7B TWD
Fair value as of: Jul 21, 2026
From 16 valuation models · updated 19 days ago
Share price +16.5% over the past month.
Below-average quality, and screening another 12% overvalued on our models.
What matters now
- A fairly wide model range (88.94 TWD to 182.00 TWD) leaves room in how you read the outcome.
- Our model range runs from 88.94 TWD (bear) to 182.00 TWD (bull), base 127.06 TWD. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 40/100 (below-average quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.
How to read this chart
60‑month range 55.38 TWD – 175.50 TWD · fair‑value band 88.94 TWD – 182.00 TWD · the 144.50 TWD price screens above the 127.06 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Taiwan Hon Chuan Enterprise Co (9939) currently trades at 144.50 TWD, while our model-based Fair Value estimate is 127.06 TWD, implying the stock looks roughly 12.1% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Taiwan Hon Chuan Enterprise Co generated revenue of 28.5B TWD at a net margin of 9.4%. Revenue declined 5.8% year over year. It earns a return on equity of 14.3%. Net debt stands at 18.8B TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 88.94 TWD (bear case) to 182.00 TWD (bull case); at 144.50 TWD, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 33% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at -12%, 9939 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 16 models by family
Widest divergence: Multiples (154.07 TWD) versus Asset-Based (45.46 TWD). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 65
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Taiwan Hon Chuan Enterprise Co., Ltd. manufactures and sells various packaging materials for the food and beverage industries in Taiwan, Mainland China, Southeast Asia, and internationally. The company offers plastic caps, preforms, PET bottles, labels, claw caps, and aluminum caps, and other products; and LDPE shrink films.
Full company description
Taiwan Hon Chuan Enterprise Co., Ltd. manufactures and sells various packaging materials for the food and beverage industries in Taiwan, Mainland China, Southeast Asia, and internationally. The company offers plastic caps, preforms, PET bottles, labels, claw caps, and aluminum caps, and other products; and LDPE shrink films. It also provides beverage filling contract manufacturing; and packaging and filling services, as well as involved in international investment business. The company was formerly known as Hon Chuan Metal Development Co., Ltd. and changed its name to Taiwan Hon Chuan Enterprise Co., Ltd. in 1999. Taiwan Hon Chuan Enterprise Co., Ltd. was incorporated in 1969 and is headquartered in Taichung, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Taiwan Hon Chuan Enterprise Co reported revenue of 28.9B TWD in FY2025 versus 21.4B TWD in FY2021, a compound +7.8%/yr. Reported net income was 2.7B TWD in FY2025, compounding +8.2%/yr from FY2021.
9939 screens 12% overvalued. Compare with Stora Enso Oyj →
Peer Group
Packaging & Containers · 273 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Packaging & Containers median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Stora Enso Oyj STER | kr 101.90 | kr 126.39 | +24% |
| ShenZhen YUTO Packaging Technology Co 002831 | ¥29.10 | ¥20.88 | -28% |
| SCG Packaging Public Company SCGP | 29.00 THB | 16.12 THB | -44% |
| AblePrint Technology Co 7734 | 2,850 TWD | 661.69 TWD | -77% |
| PT Fajar Surya Wisesa Tbk, FASW | 5,312 IDR | 1,194 IDR | -78% |
| Time Technoplast Limited TIMETECHNO | ₹206.82 | ₹161.42 | -22% |
| EPL Limited 500135 | ₹222.25 | ₹111.65 | -50% |
| Ton Yi Industrial Corp 9907 | 15.15 TWD | 23.17 TWD | +53% |
| Dongwon Systems Corporation 014820 | 19,330 KRW | 31,473 KRW | +63% |
| PT Panca Budi Idaman Tbk, PBID | 486.00 IDR | 885.39 IDR | +82% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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