Taiwan Hon Chuan Enterprise Co Ltd (9939) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Taiwan Hon Chuan Enterprise Co Ltd TWD 127, price TWD 125, upside +2.1%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 56.66 TWD – 175.50 TWD · fair‑value band 88.94 TWD – 165.17 TWD · the 124.50 TWD price screens below the 127.06 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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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.
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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.
Stock analysis
Taiwan Hon Chuan Enterprise Co Ltd (9939) currently trades at 124.50 TWD, while our model-based Fair Value estimate is 127.06 TWD, implying the stock looks roughly 2.0% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 154.07 TWD per share, and 7 of the 16 models we run sit above the 124.50 TWD price.
Bear case: the Asset-Based group reads lowest at 45.46 TWD, and 9 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: 88.94 TWD (bear) to 165.17 TWD (bull), the price of 124.50 TWD sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 40/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Taiwan Hon Chuan Enterprise Co Ltd 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.
Key figures
Market cap 38.5B TWD (≈ $1.2B) · P/E ratio 13.7 · P/S ratio 1.28 · EPS (TTM) 9.08 TWD · Dividend yield 5.0% · Net margin 9.3% · Return on equity 14.3% · Return on assets (EBIT) 8.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 13% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −21% fair-value upside, at 2%, 9939 screens cheaper than that median.
Fair Value models
Bear 88.94 TWDFair Value 127.06 TWDBull 165.17 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (2.11 TWD per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+1.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.3%
Start year 2020 (pandemic). Over 10 years: +5.7% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.6%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+13.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.8%
Dividend (yield on the price)5.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9% vs 9%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.12% → 13%
Compare Taiwan Hon Chuan Enterprise Co Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Packaging & Containers · 272 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside+2% · Above median
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets5% · Top 25%
Net margin (TTM)9% · Top 25%
Operating margin (TTM)13% · Top 25%
Growth and dividend
Revenue growth−6% · Below median
Dividend yield (TTM)5.0% · Top 25%
Balance sheet
Debt / equity0.58× · Highest 25%
Valuation Multiplesvs Packaging & Containers median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Taiwan Hon Chuan Enterprise Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9939
Frequently asked questions
Is Taiwan Hon Chuan Enterprise Co Ltd (9939) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 127.06 TWD versus a price of 124.50 TWD, about +2% upside (fairly valued).
What is the fair value of 9939?
Our model-based fair value for Taiwan Hon Chuan Enterprise Co Ltd is 127.06 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 124.50 TWD.
What is the quality score of 9939?
Taiwan Hon Chuan Enterprise Co Ltd has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Our model-based price target is the fair value of 127.06 TWD (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 88.94 TWD, optimistic scenario 165.17 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Taiwan Hon Chuan Enterprise Co Ltd stock forecast for 2026?
Our models put fair value at 127.06 TWD, about +2% upside versus a price of 124.50 TWD (fairly valued). Cautious scenario 88.94 TWD, optimistic scenario 165.17 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Taiwan Hon Chuan Enterprise Co Ltd reported trailing-twelve-month revenue of about 28.5B TWD (latest available figure, as of Sep 24, 2026).
Does Taiwan Hon Chuan Enterprise Co Ltd pay a dividend?
Taiwan Hon Chuan Enterprise Co Ltd currently shows a dividend yield of about 4.98% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Taiwan Hon Chuan Enterprise Co Ltd it is 127.06 TWD per share (as of Sep 24, 2026), against a price of 124.50 TWD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Taiwan Hon Chuan Enterprise Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 9939 trades below its calculated fair value: price 124.50 TWD, fair value 127.06 TWD, a gap of about +2% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 9939?
No. The price is what the market pays today (124.50 TWD); the fair value is what the company's own numbers justify (127.06 TWD). For Taiwan Hon Chuan Enterprise Co Ltd the two are 2.56 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Taiwan Hon Chuan Enterprise Co Ltd worth?
The market values Taiwan Hon Chuan Enterprise Co Ltd at about 38.5B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 124.50 TWD; our models calculate a fair value of 127.06 TWD per share.
What do the bullish and bearish scenarios say about 9939?
Our models span a range for Taiwan Hon Chuan Enterprise Co Ltd: cautious scenario 88.94 TWD, base 127.06 TWD, optimistic 165.17 TWD per share (as of Sep 24, 2026, price 124.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9939?
Taiwan Hon Chuan Enterprise Co Ltd trades at a price-to-earnings ratio of 13.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 127.06 TWD is built from several models across several years. Other multiples: PEG 0.6, P/B 1.9, P/S 1.4, EV/EBITDA 7.5.
What is the PEG ratio of 9939?
The PEG ratio of Taiwan Hon Chuan Enterprise Co Ltd is 0.64 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Balance-sheet figures for Taiwan Hon Chuan Enterprise Co Ltd (as of Sep 24, 2026): return on equity 14.3%, debt of 0.58 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is 9939 from its 52-week high?
Taiwan Hon Chuan Enterprise Co Ltd trades at 124.50 TWD, about 14% below its 52-week high of 144.50 TWD and 13% above the low of 110.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 127.06 TWD is for.
Which stocks are comparable to Taiwan Hon Chuan Enterprise Co Ltd?
From the same area (Consumer Cyclical) we also value Smurfit Westrock Plc,, Packaging Corporation, International Paper Company, Ball Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Taiwan Hon Chuan Enterprise Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 124.50 TWD, calculated fair value 127.06 TWD (+2%), Quality Score 40/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 9939 calculated?
We run Taiwan Hon Chuan Enterprise Co Ltd through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 127.06 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Taiwan Hon Chuan Enterprise Co Ltd currently trades 2 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The closing price on Sep 24, 2026 was 124.50 TWD. Our model-based fair value is 127.06 TWD, about +2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Taiwan Hon Chuan Enterprise Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (88.94 TWD to 165.17 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Taiwan Hon Chuan Enterprise Co Ltd (9939) come from?
Earnings per share at Taiwan Hon Chuan Enterprise Co Ltd grew +10.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.5 %, EBIT margin +5.0 %, tax rate −0.4 %, residual (interest, one-offs) +0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Taiwan Hon Chuan Enterprise Co Ltd
How large is the market capitalisation of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The market capitalisation of Taiwan Hon Chuan Enterprise Co Ltd is 38.5B TWD (≈ $1.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The price-to-sales ratio of Taiwan Hon Chuan Enterprise Co Ltd is 1.28 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Earnings per share at Taiwan Hon Chuan Enterprise Co Ltd are 9.08 TWD (price ÷ EPS = P/E 13.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The dividend yield of Taiwan Hon Chuan Enterprise Co Ltd is 5.0% (payout 68.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The net margin of Taiwan Hon Chuan Enterprise Co Ltd is 9.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The return on equity (ROE) of Taiwan Hon Chuan Enterprise Co Ltd is 14.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
On an EBIT basis the return on assets of Taiwan Hon Chuan Enterprise Co Ltd is 8.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The operating margin of Taiwan Hon Chuan Enterprise Co Ltd is 13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Revenue at Taiwan Hon Chuan Enterprise Co Ltd is growing −5.8% versus a year earlier (3y avg +5.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Earnings per share at Taiwan Hon Chuan Enterprise Co Ltd are growing −3.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Taiwan Hon Chuan Enterprise Co Ltd (9939) generate?
The free cash flow of Taiwan Hon Chuan Enterprise Co Ltd is −1.1B TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Taiwan Hon Chuan Enterprise Co Ltd (9939) carry?
The net debt of Taiwan Hon Chuan Enterprise Co Ltd is 18.8B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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