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Eminent Luggage Corporation (9950) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 1.7B TWD

EL Eminent Luggage Corporation 9950 · TWO
Price10.30 TWD
Fair Value1.94 TWD
Upside-81.2%
Quality35/100
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Strengths

Moderate debt · generates free cash flow

Risks

!Trades 431% ABOVE our fair value of 1.94 TWD
!Mixed Growth (revenue 5y +14.4 %/yr)
!Loss-making · -3.4% net margin
!Trails peers (3/11)
Mixed Growth (revenue 5y +14.4 %/yr)
Loss-making · -3.4% net margin
Moderate debt · generates free cash flow
Trails peers (3/11)
Narrow moat 16/100
Evidence: Medium Range 1.94 TWD – 4.72 TWD Share as image

Fair value as of: Aug 13, 2026

From 5 valuation models · updated 12 days ago

Share price −1.4% over the past month.

Below-average quality, and trading another 431% above our fair value.

What runs behind every stock

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

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What matters now

  • The price sits above even our optimistic bull case (4.72 TWD). The favourable scenario is already priced in.
  • Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (1.94 TWD to 4.72 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

28.80 TWD 7.70 TWD Fair Value 1.94 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 7.70 TWD – 28.80 TWD · fair‑value band 1.94 TWD – 4.72 TWD · the 10.30 TWD price screens above the 1.94 TWD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Eminent Luggage Corporation (9950) currently trades at 10.30 TWD, while our model-based Fair Value estimate is 1.94 TWD, implying the stock looks roughly 81.2% overvalued today. The Quality Score stands at 35/100 (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: medium).

Over the trailing twelve months, Eminent Luggage Corporation generated revenue of 2.1B TWD at a net margin of -3.4%. Revenue declined 1.2% year over year. It earns a return on equity of -5.0%. Net debt stands at 1.5B TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 1.94 TWD (bear case) to 4.72 TWD (bull case); at 10.30 TWD, the current price sits above 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 27% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at -81%, 9950 screens richer 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
EV/EBITDA 1.28 TWD 4.07 TWD 6.85 TWD 54
NCAV (Graham) 4.37 TWD 5.86 TWD 8.74 TWD 50
5Y EBITDA Exit 1.43 TWD 5.44 TWD 41
All 5 models by family
DCF Models
Owner Earnings 0.4200 TWD 31
5Y EBITDA Exit 1.43 TWD 5.44 TWD 41
10Y EBITDA Exit 1.63 TWD 37
Multiples
EV/EBITDA 1.28 TWD 4.07 TWD 6.85 TWD 54
Asset-Based
NCAV (Graham) 4.37 TWD 5.86 TWD 8.74 TWD 50

Widest divergence: Asset-Based (5.86 TWD) versus DCF Models (1.43 TWD). Highest evidence: EV/EBITDA (54).

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Key figures & financial health

P/S ratio 0.82 TTM
Net margin -3.4% TTM
Return on equity -5.0% TTM
Return on assets -0.5% TTM
Operating margin -0.4% TTM
EPS (TTM) -0.2700 TWD
More key figures
Growth
Revenue (TTM) 2.1B TWD TTM
Revenue growth (YoY) -1.2% 3y avg -2.3%
EPS growth (YoY) +21.4%
Balance sheet & cash flow
Free cash flow 68.6M TWD FY2025
Net debt 1.5B TWD FY2025 · ≈ 22.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 36 · Market factors (momentum, volatility) 41

Profitability 16
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 67
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Eminent Luggage Corporation engages in designing, manufacturing, and retailing luggage and suitcase, and related parts and components in Taiwan, the United States, Singapore, China, Germany, and others.

Full company description

Eminent Luggage Corporation engages in designing, manufacturing, and retailing luggage and suitcase, and related parts and components in Taiwan, the United States, Singapore, China, Germany, and others. It offers hand luggage, business trolleys, check-in suitcases, and laptop backpacks; and travel accessories, including luggage covers and tags, packing cube set, portable wardrobe, hangable toiletry bag, washbag, cup holder, RFID-blocking wallet, luggage belt, and RFID waist bag. The company offers its products under the Eminent, Probeetle, Case Star, and Mine brands. It also sells its products online. Eminent Luggage Corporation was founded in 1979 and is headquartered in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Eminent Luggage Corporation reported revenue of 2.1B TWD in FY2025 versus 1.0B TWD in FY2021, a compound +20.0%/yr. Reported net income was −44.9M TWD in FY2025.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.1B TWD
Latest YoY
−17.7%
Avg. revenue 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.
−2.3%
Avg. revenue growth/yr (5Y) 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.
+14.4%
Avg. revenue growth/yr (6Y) 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.
−6.9%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +20.0%/yr
FY21 1.0B TWD
FY22 2.3B TWD
FY23 2.9B TWD
FY24 2.6B TWD
FY25 2.1B TWD
Net income
FY21 −622M TWD
FY22 −224M TWD
FY23 1.0B TWD
FY24 172M TWD
FY25 −44.9M TWD

9950 screens 81% overvalued. Compare with NIKE, Inc →

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Cite: Fair Value Calculator (2026). "Eminent Luggage Corporation Fair Value". https://www.fairvalue-calculator.com/stock/9950

Peer Group

Footwear & Accessories · 93 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 35 · Bottom 25%
Fair Value upside −81% · Bottom 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) -0% · Bottom 25%
Revenue growth -1% · Above median
Debt / equity 1.15× · Higher than 75% of peers

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/S (TTM) 0.03× · Cheaper than 75% of peers
P/FCF 0.8× · Cheaper than median
EV/EBITDA 17.4× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 16
FUTURE0 · sector 0
PAST0 · sector 23
HEALTH43 · sector 98
DIVIDEND0 · sector 45

VALUE 0: the price sits above our fair-value range.

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 Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $40.76 $35.63 -13%
adidas AG ADS €158.50 €115.36 -27%
Deckers Outdoor Corporation DECK $89.51 $125.16 +40%
On Holding ONON $31.03 $17.79 -43%
Zhejiang China Commodities City Group 600415 ¥11.81 ¥13.03 +10%
Birkenstock Holding BIRK $36.74 $44.59 +21%
Crocs, Inc CROX $130.61 $203.65 +56%
Huali Industrial Group 300979 ¥36.73 ¥51.36 +40%
PUMA SE PUM €25.02 €10.57 -58%
Steven Madden, Ltd SHOO $47.70 $11.69 -75%

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Frequently asked questions

Is Eminent Luggage Corporation (9950) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.94 TWD versus a price of 10.30 TWD, about −81% (overvalued).
What is the fair value of 9950?
Our model-based fair value for Eminent Luggage Corporation is 1.94 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price: 10.30 TWD.
What is the quality score of 9950?
Eminent Luggage Corporation has a Quality Score of 35/100. 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 Eminent Luggage Corporation (9950)?
Eminent Luggage Corporation reported trailing-twelve-month revenue of about 2.1B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9950?
The net profit margin of Eminent Luggage Corporation is about -3.4%, meaning it is currently running at a net loss. 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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