Holiday Entertainment Co Ltd (9943) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Holiday Entertainment Co Ltd TWD 61.55, price TWD 50.50, upside +21.9%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Holiday Entertainment Co.,Ltd provides audiovisual entertainment services in Taiwan. It operates in Singing Audio-Visual Equipment and Composition Copyright Operations segments. The company offers karaoke audio-visual equipment for people to sing.
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Holiday Entertainment Co.,Ltd provides audiovisual entertainment services in Taiwan. It operates in Singing Audio-Visual Equipment and Composition Copyright Operations segments. The company offers karaoke audio-visual equipment for people to sing. It also engages in audio-visual equipment and supplies distribution; audio publishing and art performing activities; and restaurant management business. The company was founded in 1993 and is based in Taipei, Taiwan.
Stock analysis
Holiday Entertainment Co Ltd (9943) currently trades at 50.50 TWD, while our model-based Fair Value estimate is 61.55 TWD, implying the stock looks roughly 18.0% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 61.42 TWD per share, and 12 of the 24 models we run sit above the 50.50 TWD price.
Bear case: the Asset-Based group reads lowest at 21.03 TWD, and 12 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 46.16 TWD (bear) to 76.79 TWD (bull), the price of 50.50 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 72/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Holiday Entertainment Co Ltd reported revenue of 2.4B TWD in FY2025 versus 1.7B TWD in FY2021, a compound +9.5%/yr. Reported net income was 457M TWD in FY2025, compounding +64.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 6.6B TWD (≈ $208M) · P/E ratio 9.4 · P/S ratio 1.77 · EPS (TTM) 5.40 TWD · Dividend yield 6.9% · Net margin 18.9% · Return on equity 12.4% · Return on assets (EBIT) 7.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 38% fair-value upside, at 22%, 9943 screens richer than that median.
Fair Value models
Bear 46.16 TWDFair Value 61.55 TWDBull 76.79 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 (1.40 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−7.3%
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.
+0.5%
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.
−2.6%
Start year 2020 (pandemic). Over 10 years: −2.4% a year
Revenue growth 24 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.
−2.3%
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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.
+7.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.8%
Dividend (yield on the price)6.9%
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.1% vs 0%, 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.28% → 17%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−14.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −16.0% a year for the price.
Compare Holiday Entertainment 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.Leisure · 189 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+22% · Above median
Profitability
Return on equity (TTM)12% · Above median
Return on assets4% · Above median
Net margin (TTM)19% · Top 25%
Operating margin (TTM)19% · Top 25%
Growth and dividend
Revenue growth−9% · Bottom 25%
Dividend yield (TTM)6.9% · Top 25%
Valuation Multiplesvs Leisure median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Holiday Entertainment Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9943
Frequently asked questions
Is Holiday Entertainment Co Ltd (9943) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 61.55 TWD versus a price of 50.50 TWD, about +22% upside (undervalued).
What is the fair value of 9943?
Our model-based fair value for Holiday Entertainment Co Ltd is 61.55 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 50.50 TWD.
What is the quality score of 9943?
Holiday Entertainment Co Ltd has a Quality Score of 72/100. 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 Holiday Entertainment Co Ltd (9943)?
Our model-based price target is the fair value of 61.55 TWD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 46.16 TWD, optimistic scenario 76.79 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Holiday Entertainment Co Ltd stock forecast for 2026?
Our models put fair value at 61.55 TWD, about +22% upside versus a price of 50.50 TWD (undervalued). Cautious scenario 46.16 TWD, optimistic scenario 76.79 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Holiday Entertainment Co Ltd (9943)?
Holiday Entertainment Co Ltd reported trailing-twelve-month revenue of about 2.4B TWD (latest available figure, as of Sep 24, 2026).
Does Holiday Entertainment Co Ltd pay a dividend?
Holiday Entertainment Co Ltd currently shows a dividend yield of about 6.93% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Holiday Entertainment Co Ltd (9943)?
For today's price to be fair in a discounted-cash-flow model, Holiday Entertainment Co Ltd would have to grow free cash flow by -14.7 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 9943 use?
Our models discount Holiday Entertainment Co Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.11, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Holiday Entertainment Co Ltd that is -14.7 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Holiday Entertainment Co Ltd (9943) delivered so far?
Over the past 5 years revenue at Holiday Entertainment Co Ltd grew -2.6 % a year. The price currently implies -14.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Holiday Entertainment Co Ltd (9943) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Holiday Entertainment Co Ltd (-14.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Holiday Entertainment Co Ltd (9943)?
The free-cash-flow yield on the price is 17.73 %: that much free cash flow Holiday Entertainment Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Holiday Entertainment Co Ltd (9943)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Holiday Entertainment Co Ltd it is 61.55 TWD per share (as of Sep 24, 2026), against a price of 50.50 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Holiday Entertainment Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 9943 trades below its calculated fair value: price 50.50 TWD, fair value 61.55 TWD, a gap of about +22% (undervalued). 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 9943?
No. The price is what the market pays today (50.50 TWD); the fair value is what the company's own numbers justify (61.55 TWD). For Holiday Entertainment Co Ltd the two are 11.05 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Holiday Entertainment Co Ltd worth?
The market values Holiday Entertainment Co Ltd at about 6.6B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 50.50 TWD; our models calculate a fair value of 61.55 TWD per share.
What do the bullish and bearish scenarios say about 9943?
Our models span a range for Holiday Entertainment Co Ltd: cautious scenario 46.16 TWD, base 61.55 TWD, optimistic 76.79 TWD per share (as of Sep 24, 2026, price 50.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9943?
Holiday Entertainment Co Ltd trades at a price-to-earnings ratio of 9.4 (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 61.55 TWD is built from several models across several years. Other multiples: PEG 18.0, P/B 1.7, P/S 2.8, EV/EBITDA 13.6.
What is the PEG ratio of 9943?
The PEG ratio of Holiday Entertainment Co Ltd is 17.97 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Holiday Entertainment Co Ltd (9943)?
Balance-sheet figures for Holiday Entertainment Co Ltd (as of Sep 24, 2026): return on equity 12.4%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 9943 from its 52-week high?
Holiday Entertainment Co Ltd trades at 50.50 TWD, about 24% below its 52-week high of 66.20 TWD and at the low of 50.40 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 61.55 TWD is for.
Which stocks are comparable to Holiday Entertainment Co Ltd?
From the same area (Consumer Cyclical) we also value ANTA Sports Products Limited, Pop Mart International Group, Amer Sports, Inc, Hasbro, Inc, 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 Holiday Entertainment Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 50.50 TWD, calculated fair value 61.55 TWD (+22%), Quality Score 72/100, from 24 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 9943 calculated?
We run Holiday Entertainment Co Ltd through 24 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 61.55 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 13.0 % above its aggregate fair value. Holiday Entertainment Co Ltd currently trades 22 % 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 Holiday Entertainment Co Ltd (9943)?
The closing price on Sep 24, 2026 was 50.50 TWD. Our model-based fair value is 61.55 TWD, about +22% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Holiday Entertainment Co Ltd right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Holiday Entertainment Co Ltd (9943) come from?
Earnings per share at Holiday Entertainment Co Ltd grew +1.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.5 %, EBIT margin +0.2 %, tax rate −0.3 %, residual (interest, one-offs) −0.6 %. 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 Holiday Entertainment Co Ltd
How large is the market capitalisation of Holiday Entertainment Co Ltd (9943)?
The market capitalisation of Holiday Entertainment Co Ltd is 6.6B TWD (≈ $208M). 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 Holiday Entertainment Co Ltd (9943)?
The price-to-sales ratio of Holiday Entertainment Co Ltd is 1.77 (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 Holiday Entertainment Co Ltd (9943)?
Earnings per share at Holiday Entertainment Co Ltd are 5.40 TWD (price ÷ EPS = P/E 9.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Holiday Entertainment Co Ltd (9943)?
The dividend yield of Holiday Entertainment Co Ltd is 6.9% (payout 64.8%). 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 Holiday Entertainment Co Ltd (9943)?
The net margin of Holiday Entertainment Co Ltd is 18.9% (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 Holiday Entertainment Co Ltd (9943)?
The return on equity (ROE) of Holiday Entertainment Co Ltd is 12.4% (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 Holiday Entertainment Co Ltd (9943)?
On an EBIT basis the return on assets of Holiday Entertainment Co Ltd is 7.6% (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 Holiday Entertainment Co Ltd (9943)?
The operating margin of Holiday Entertainment Co Ltd is 19.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Holiday Entertainment Co Ltd (9943)?
Revenue at Holiday Entertainment Co Ltd is growing −8.7% versus a year earlier (3y avg +0.5%). 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 Holiday Entertainment Co Ltd (9943)?
Earnings per share at Holiday Entertainment Co Ltd are growing −3.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Holiday Entertainment Co Ltd (9943) carry?
The net debt of Holiday Entertainment Co Ltd is 482M TWD (fiscal year 2025, ≈ 0.6 yrs of FCF). 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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