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Tittot Company (9949) Fair Value & Analysis

Consumer Defensive · TW · Market cap 1.1B TWD

TC Tittot Company 9949 · TWO
Price24.05 TWD
Fair Value43.13 TWD
Upside+79.3%
Quality61/100
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Weak Growth
Highly profitable · 175.6% net margin
Low debt · negative free cash flow
9.26% dividend yield
Mixed vs. peers (7/12)
Moderate moat 58/100
Evidence: Medium Range 32.77 TWD – 48.52 TWD Share as image

Fair value as of: Jul 23, 2026

From 8 valuation models · updated 18 days ago

Share price −18.5% over the past month.

A solid business, screening 79% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (32.77 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

36.70 TWD 9.79 TWD Fair Value 43.13 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 9.79 TWD – 36.70 TWD · fair‑value band 32.77 TWD – 48.52 TWD · the 24.05 TWD price screens below the 43.13 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

Full chart & analysis →

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Analysis

Tittot Company (9949) currently trades at 24.05 TWD, while our model-based Fair Value estimate is 43.13 TWD, implying the stock looks roughly 79.3% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Trailing-twelve-month revenue stands at 141M TWD. Revenue declined 12.4% year over year. It earns a return on equity of 51.9%. The stock trades on a trailing P/E of 4.6. Fundamentals as of Jul 23, 2026

Our scenario range runs from 32.77 TWD (bear case) to 48.52 TWD (bull case); at 24.05 TWD, the current price sits below 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 36% below its 52-week high and 58% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at 79%, 9949 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.

Model 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
Highest evidence
Growth-Adj P/E 55.07 TWD 78.67 TWD 102.27 TWD 68
P/E Multiple 77.84 TWD 103.78 TWD 129.73 TWD 63
Residual Income 32.77 TWD 48.61 TWD 459.46 TWD 61
All 8 models by family
DCF Models
Owner Earnings 48.50 TWD 61.55 TWD 83.45 TWD 31
Earnings-Based
Graham-Dodd 35.29 TWD 43.13 TWD 48.52 TWD 54
Multiples
P/E Multiple 77.84 TWD 103.78 TWD 129.73 TWD 63
P/S Multiple 5.88 TWD 7.84 TWD 9.80 TWD 58
P/B Multiple 28.77 TWD 38.35 TWD 47.94 TWD 55
Asset-Based
NCAV (Graham) 6.39 TWD 8.57 TWD 12.78 TWD 50
Economic Profit
Residual Income 32.77 TWD 48.61 TWD 459.46 TWD 61
Growth Earnings
Growth-Adj P/E 55.07 TWD 78.67 TWD 102.27 TWD 68

Widest divergence: Growth Earnings (78.67 TWD) versus Asset-Based (8.57 TWD). Highest evidence: Growth-Adj P/E (68).

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Key figures & financial health

Revenue (TTM) 141M TWD
Revenue growth (YoY) -12.4%
Net margin 165%
Return on equity 51.9%
Free cash flow −77.3M TWD FY2025
P/E ratio 4.6
More key figures
Operating margin -55.4%
EPS (TTM) 5.18 TWD

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 62

Profitability 66
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Tittot Company Limited, together with its subsidiaries, engages in the design, production, manufacture, and sale of crystal glass, plaster, wax, and other art products in Taiwan and China.

Full company description

Tittot Company Limited, together with its subsidiaries, engages in the design, production, manufacture, and sale of crystal glass, plaster, wax, and other art products in Taiwan and China. It operates through Crystal Glass - Project Business Division, Crystal Glass - Retail Business Division, Crystal Glass - Mainland Business Division, Crystal Glass - International Business Division, and Other segments. The company sells its products through its online store. It also engages in the sale of books and videotapes; and art and cultural exhibition services; and general investment activities. Tittot Company Limited was founded in 1994 and is based in New Taipei City, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tittot Company reported revenue of 141M TWD in FY2025 versus 204M TWD in FY2021, a compound −8.8%/yr. Reported net income was 233M TWD in FY2025.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
141M TWD
Latest YoY
−17.0%
Avg. growth/yr (3Y) 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.
−12.8%
Revenue −8.8%/yr
FY21 204M TWD
FY22 212M TWD
FY23 178M TWD
FY24 169M TWD
FY25 141M TWD
Net income
FY21 −33.7M TWD
FY22 −35.2M TWD
FY23 −30.3M TWD
FY24 −52.2M TWD
FY25 233M TWD

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Cite: Fair Value Calculator (2026). "Tittot Company Fair Value". https://www.fairvalue-calculator.com/stock/9949

Peer Group

Household & Personal Products · 244 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.

Quality Score 61 · Above median
Fair Value upside +79% · Top 25%
Return on equity (TTM) 60% · Top 25%
Return on assets -6% · Bottom 25%
Net margin (TTM) 176% · Top 25%
Operating margin (TTM) -18% · Bottom 25%
Revenue growth -4% · Below median
Dividend yield (TTM) 9.3% · Top 25%

Valuation Multiples vs Household & Personal Products median · lower = cheaper

P/E (TTM) 4.6× · Cheaper than 75% of peers
P/B 1.85× · Pricier than median
P/S (TTM) 7.63× · Pricier than 75% of peers

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.

VALUE 100 · sector 28
FUTURE 0 · sector 4
PAST 100 · sector 26
HEALTH 100 · sector 98
DIVIDEND 100 · sector 50

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
The Procter & Gamble Company PG $146.80 $108.16 -26%
Unilever PLC ULN 1,080 MXN 1,273 MXN +18%
Hindustan Unilever Limited HINDUNILVR ₹2,144 ₹1,000 -53%
Essity AB ESSITYA kr 279.00 kr 250.02 -10%
Godrej Consumer Products Limited GODREJCP ₹1,088 ₹367.64 -66%
Marico Limited MARICO ₹846.75 ₹233.05 -72%
APR Co 278470 375,000 KRW 151,222 KRW -60%
Dabur India Limited DABUR ₹429.45 ₹181.60 -58%
Kimberly-Clark de México, S. A. B. de C. V., KIMBERA 38.07 MXN 50.09 MXN +32%
PT Unilever Indonesia Tbk UNVR 1,730 IDR 1,934 IDR +12%

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Frequently asked questions

Is Tittot Company (9949) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 43.13 TWD versus a price of 24.05 TWD, about +79% (undervalued).
What is the fair value of 9949?
Our model-based fair value for Tittot Company is 43.13 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 24.05 TWD.
What is the quality score of 9949?
Tittot Company has a Quality Score of 61/100. 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 revenue of Tittot Company (9949)?
Tittot Company reported trailing-twelve-month revenue of about 141M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 9949?
The net profit margin of Tittot Company is about 165.5%, meaning it keeps roughly 165.5% of revenue as net income. Based on the latest reported figures.

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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