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Tittot Company Limited (9949) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Tittot Company Limited TWD 51.78, price TWD 24.00, upside +115.8%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Consumer Defensive · TW

TC Thin data Sep 24, 2026

Tittot Company Limited

9949 · TWO

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value 51.78 TWD · Strongly undervalued (+116%)
!Quality 61/100
!Weak Growth (revenue 3y −12.8 %/yr)
✓Highly profitable · 175.6% net margin (TTM)
!Low debt · negative free cash flow
·9.17% dividend yield
!Mixed vs. peers (7/12)
!Moderate moat 58/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

36.70 TWD 9.79 TWD Fair Value 51.78 TWD Apr 2021 Sep 2026

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 9.79 TWD – 36.70 TWD · fair‑value band 38.35 TWD – 92.34 TWD · the 24.00 TWD price screens below the 51.78 TWD fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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.

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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.

Stock analysis

Tittot Company Limited (9949) currently trades at 24.00 TWD, while our model-based Fair Value estimate is 51.78 TWD, implying the stock looks roughly 53.7% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 86.22 TWD per share, and 6 of the 8 models we run sit above the 24.00 TWD price.

Bear case: the Asset-Based group reads lowest at 8.57 TWD, and 2 of the 8 models stay below the price. Evidence for this calculation is low.

Scenario range: 38.35 TWD (bear) to 92.34 TWD (bull), the price of 24.00 TWD sits below 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 61/100 (solid quality), in the Consumer Defensive sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Tittot Company Limited 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.

Key figures

Market cap 1.1B TWD (≈ $33.3M) · P/E ratio 4.6 · P/S ratio 7.67 · EPS (TTM) 5.18 TWD · Dividend yield 9.2% · Net margin 176% · Return on equity 59.7% · Return on assets (EBIT) −8.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (medium confidence).

What moves the price

The share trades about 35% below its 52-week high and 34% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Defensive peers we cover trades at −14% fair-value upside, at 116%, 9949 screens cheaper than that median.

Fair Value models

Bear 38.35 TWD Fair Value 51.78 TWD Bull 92.34 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 (2.19 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.
Highest evidence
Owner Earnings 54.76 TWD 72.77 TWD 105.10 TWD 74
Graham-Dodd 35.29 TWD 43.13 TWD 48.52 TWD 65
Growth-Adj P/E 60.35 TWD 86.22 TWD 112.09 TWD 65
All 8 models by family
DCF Models
Owner Earnings 54.76 TWD 72.77 TWD 105.10 TWD 74
Earnings-Based
Graham-Dodd 35.29 TWD 43.13 TWD 48.52 TWD 65
Multiples
P/E Multiple 85.62 TWD 114.16 TWD 142.70 TWD 63
P/S Multiple 2.82 TWD 3.76 TWD 4.70 TWD 58
P/B Multiple 38.35 TWD 51.14 TWD 63.92 TWD 55
Asset-Based
NCAV (Graham) 6.39 TWD 8.57 TWD 12.78 TWD 54
Economic Profit
Residual Income 37.39 TWD 55.74 TWD 619.22 TWD 55
Growth Earnings
Growth-Adj P/E 60.35 TWD 86.22 TWD 112.09 TWD 65

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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 58
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 24/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−17.0%
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.
−12.8%
Profit margin (trend) ⓘ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.
−18.2% (2021) → −52.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

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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.Household & Personal Products · 251 stocks

Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 61 · Above median
Fair Value upside +116% · Top 25%
Profitability
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%
Growth and dividend
Revenue growth −4% · Below median
Dividend yield (TTM) 9.2% · Top 25%

Valuation Multiplesvs Household & Personal Products median · lower = cheaper

P/E (TTM) 4.6× · Cheapest 25%
P/B 1.84× · Pricier than median
P/S (TTM) 7.58× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 33
FUTURE (revenue growth)0 · sector 8
PAST (return on equity)100 · sector 27
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)100 · sector 55

Context: sector, industry, market

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

Similar stocks

10 more Household & Personal Products stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Colgate-Palmolive Company CL $85.93 $55.95 −35%
Hindustan Unilever Limited HINDUNILVR ₹1,950 ₹775.25 −60%
Kenvue Inc KVUE $17.86 $12.73 −29%
Kimberly-Clark Corporation KMB $97.70 $83.93 −14%
Henkel AG HEN €68.50 €80.96 +18%
The Estée Lauder Companies Inc EL $98.83 $27.22 −72%
Church & Dwight Co CHD $96.02 $65.12 −32%
Beiersdorf Aktiengesellschaft, BEI €78.18 €68.95 −12%
Puig Brands, S.A PUIG €17.56 €19.32 +10%
The Clorox Company CLX $87.15 $104.53 +20%

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Tittot Company Limited · Fair Value
51.78 TWD +54%Fair Value
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Cite: Fair Value Calculator (2026). "Tittot Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/9949

Frequently asked questions

Is Tittot Company Limited (9949) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 51.78 TWD versus a price of 24.00 TWD, about +116% upside (undervalued).
What is the fair value of 9949?
Our model-based fair value for Tittot Company Limited is 51.78 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 24.00 TWD.
What is the quality score of 9949?
Tittot Company Limited 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 price target for Tittot Company Limited (9949)?
Our model-based price target is the fair value of 51.78 TWD (as of Sep 24, 2026) from 8 valuation models. Cautious scenario 38.35 TWD, optimistic scenario 92.34 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Tittot Company Limited stock forecast for 2026?
Our models put fair value at 51.78 TWD, about +116% upside versus a price of 24.00 TWD (undervalued). Cautious scenario 38.35 TWD, optimistic scenario 92.34 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Tittot Company Limited (9949)?
Tittot Company Limited reported trailing-twelve-month revenue of about 139M TWD (latest available figure, as of Sep 24, 2026).
Does Tittot Company Limited pay a dividend?
Tittot Company Limited currently shows a dividend yield of about 9.17% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Tittot Company Limited (9949)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tittot Company Limited it is 51.78 TWD per share (as of Sep 24, 2026), against a price of 24.00 TWD. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Tittot Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 9949 trades below its calculated fair value: price 24.00 TWD, fair value 51.78 TWD, a gap of about +116% (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 9949?
No. The price is what the market pays today (24.00 TWD); the fair value is what the company's own numbers justify (51.78 TWD). For Tittot Company Limited the two are 27.78 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Tittot Company Limited worth?
The market values Tittot Company Limited at about 1.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 24.00 TWD; our models calculate a fair value of 51.78 TWD per share.
What do the bullish and bearish scenarios say about 9949?
Our models span a range for Tittot Company Limited: cautious scenario 38.35 TWD, base 51.78 TWD, optimistic 92.34 TWD per share (as of Sep 24, 2026, price 24.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9949?
Tittot Company Limited trades at a price-to-earnings ratio of 4.6 (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 51.78 TWD is built from several models across several years. Other multiples: P/B 1.8, P/S 7.6.
How solid is the balance sheet of Tittot Company Limited (9949)?
Balance-sheet figures for Tittot Company Limited (as of Sep 24, 2026): return on equity 59.7%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 9949 from its 52-week high?
Tittot Company Limited trades at 24.00 TWD, about 35% below its 52-week high of 36.70 TWD and 34% above the low of 17.88 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 51.78 TWD is for.
Which stocks are comparable to Tittot Company Limited?
From the same area (Consumer Defensive) we also value Colgate-Palmolive Company, Hindustan Unilever Limited, Kenvue Inc, Kimberly-Clark 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 Tittot Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 24.00 TWD, calculated fair value 51.78 TWD (+116%), Quality Score 61/100, from 8 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 9949 calculated?
We run Tittot Company Limited through 8 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 51.78 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 14.0 % above its aggregate fair value. Tittot Company Limited currently trades 116 % 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 Tittot Company Limited (9949)?
The closing price on Sep 24, 2026 was 24.00 TWD. Our model-based fair value is 51.78 TWD, about +116% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tittot Company Limited right now?
The price is below even our cautious bear case (38.35 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (38.35 TWD to 92.34 TWD) leaves room in how you read the outcome.

Key figures of Tittot Company Limited

How large is the market capitalisation of Tittot Company Limited (9949)?
The market capitalisation of Tittot Company Limited is 1.1B TWD (≈ $33.3M). 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 Tittot Company Limited (9949)?
The price-to-sales ratio of Tittot Company Limited is 7.67 (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 Tittot Company Limited (9949)?
Earnings per share at Tittot Company Limited are 5.18 TWD (price ÷ EPS = P/E 4.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tittot Company Limited (9949)?
The dividend yield of Tittot Company Limited is 9.2% (payout 42.5%). 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 Tittot Company Limited (9949)?
The net margin of Tittot Company Limited is 176% (last twelve months). 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 Tittot Company Limited (9949)?
The return on equity (ROE) of Tittot Company Limited is 59.7% (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 Tittot Company Limited (9949)?
On an EBIT basis the return on assets of Tittot Company Limited is −8.2% (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 Tittot Company Limited (9949)?
The operating margin of Tittot Company Limited is −18.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tittot Company Limited (9949)?
Revenue at Tittot Company Limited is growing −3.7% versus a year earlier (3y avg −12.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Tittot Company Limited (9949) generate?
The free cash flow of Tittot Company Limited is −77.3M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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