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Daiwa House Industry Co.Ltd (DWAHF) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of Daiwa House Industry Co.Ltd $17.40, price $14.00, upside +24.3%, quality 48 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? No
  3. Add to watchlist

Real Estate · US

DH Daiwa House Industry Co.Ltd logo Some data Sep 28, 2026

Daiwa House Industry Co.Ltd

DWAHF · US

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value $17.40 · Undervalued (+24.3%)
!Quality 48/100
!Expensive Growth (revenue 5y +6.3 %/yr)
!Thin margins · 6.3% net margin (TTM)
!Moderate debt · negative free cash flow
!3.5% dividend yield · Watch coverage
✓Ranks above peers (10/13)
!Moderate moat 51/100
!Evidence only medium, so the estimate is less certain
!Weak on future: 21 out of 100

What runs behind every stock

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

Price vs Fair Value

$278.44 $6.62 Fair Value $17.40 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.

How to read this chart

60‑month range $6.62 – $278.44 · fair‑value band $14.30 – $25.24 · the $14.00 price screens below the $17.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.

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Company profile

Daiwa House Industry Co., Ltd., together with its subsidiaries, engages in the construction work business in Japan, the United States, and internationally.

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Daiwa House Industry Co., Ltd., together with its subsidiaries, engages in the construction work business in Japan, the United States, and internationally. It operates through Single-Family Houses Business; Rental Housing Business; Condominiums Business; Commercial Facilities Business; Logistics, Business and Corporate Facilities Business; Environmental and Energy Business; and Other Businesses segments. The Single-Family Houses segment engages in the construction of single-family houses; and sale of house and land packages. Its Rental Housing segment is involved in rental housing development, construction, management, operation, and agency services. The Condominiums segment develops, sells, and manages condominiums. Its Logistics, Business and Corporate Facilities Business segment engages in the development, construction, management, and operation of commercial facilities. The Logistics, Business and Corporate Facilities Business segment engages in the development, construction, management, and operation of logistics, manufacturing facilities, medical, nursing care, and other facilities. Its Environmental Energy segment develops and constructs renewable energy power plants; and engages in renewable energy generation and electricity retail business. The company also engages in housing renovation and interiors; environmental energy and greening; asset management; agriculture; parking and carsharing; golf course; fitness club and aesthetic salon; home and shopping center; fee-based homes for the elderly; travel agency; insurance; credit card and financial services; information technology; cultivation; community development; resort hotel; and logistics, sports club management, and credit card businesses. Daiwa House Industry Co., Ltd. was incorporated in 1947 and is headquartered in Kita, Japan.

Stock analysis

Daiwa House Industry Co.Ltd (DWAHF) currently trades at $14.00, while our model-based Fair Value estimate is $17.40, implying the stock looks roughly 19.5% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $67.04 per share, and 9 of the 9 models we run sit above the $14.00 price.

Bear case: the Dividend Discount group reads lowest at $14.98, and 0 of the 9 models stay below the price. Evidence for this calculation is medium.

Scenario range: $14.30 (bear) to $25.24 (bull), the price of $14.00 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 48/100 (below-average quality), in the Real Estate sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Daiwa House Industry Co.Ltd reported revenue of ¥5.6T in FY2026 versus ¥4.4T in FY2022, a compound +6.0%/yr. Reported net income was ¥353B in FY2026, compounding +11.9%/yr from FY2022.

Key figures

Market cap $16.2B · P/E ratio 4.0 · P/S ratio 0.25 · EPS (TTM) $3.54 · Dividend yield 3.5% · Net margin 6.3% · Return on equity 12.5% · Return on assets (EBIT) 7.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 20% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at 2% fair-value upside, at 24%, DWAHF screens cheaper than that median.

Fair Value models

Bear $14.30 Fair Value $17.40 Bull $25.24
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. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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
Residual Income $27.81 $32.71 $45.25 76
EV/EBITDA $83.88 $116.90 $149.91 67
Gordon GGM $9.06 $18.85 $29.90 66
All 9 models by family
Dividend Discount
Gordon GGM $9.06 $18.85 $29.90 66
DDM Multi-Stage $9.06 $14.98 $19.78 66
Multiples
P/S Multiple $46.01 $61.35 $76.69 58
P/B Multiple $44.73 $59.64 $74.55 55
EV/EBIT $89.17 $123.96 $158.74 66
EV/EBITDA $83.88 $116.90 $149.91 67
EV/Revenue $42.38 $67.04 $91.70 53
Asset-Based
NCAV (Graham) $14.91 $19.98 $29.82 54
Economic Profit
Residual Income $27.81 $32.71 $45.25 76

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Quality Score breakdown

Overall quality 48/100

Of which business quality 45 · Market factors (momentum, volatility) 45

Profitability 39
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 100
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. 45/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.3%
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.
+4.6%
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.
+6.3%
Start year 2021 (pandemic). Over 10 years: +5.8% a year
Revenue growth 29 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.
+5.5%
What shareholders gained per year (last 5 years), in JPY ⓘ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 JPY: 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.
+14.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.6%
Dividend (yield on the price)3.5%
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.10.6% vs 12.4%, steady
Profit margin 2021 to 2026 ⓘ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.9% → 11%
Start year 2021 (pandemic)

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Recent news

News mood ⓘNews mood, the average tone of recent news (6 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.

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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.Real Estate - Development · 575 stocks

Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 49 · Above median
Fair Value upside +32.2% · Above median
Profitability
Return on equity (TTM) 12.5% · Top 25%
Return on assets 5.0% · Top 25%
Net margin (TTM) 6.3% · Below median
Operating margin (TTM) 16.3% · Above median
Growth and dividend
Revenue growth 4.2% · Above median
Dividend yield (TTM) 3.5% · Above median
Balance sheet
Debt / equity 0.66× · Above median

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/E (TTM) 4.0× · Cheapest 25%
P/B 0.88× · Pricier than median
P/S (TTM) 0.46× · Cheaper than median
EV/EBITDA 5.4× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)77 · sector 70
FUTURE (revenue growth)21 · sector 0
PAST (return on equity)50 · sector 11
HEALTH (low debt)67 · sector 84
DIVIDEND (yield)69 · sector 58

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 0016 HK$107.10 HK$155.14 +45%
China Resources Land Limited 1109 HK$28.64 HK$71.60 +150%
CK Asset Holdings 1113 HK$45.90 HK$71.49 +56%
Hongkong Land Holdings H78 $8.57 $1.52 −82%
DLF Limited DLF ₹658.40 ₹167.48 −75%
China Overseas Land & Investment Limited 0688 HK$12.42 HK$22.33 +80%
Sino Land Company 0083 HK$9.94 HK$7.28 −27%
Lodha Developers Limited LODHA ₹1,165 ₹274.14 −76%
Poly Developments and Holdings 600048 ¥5.77 ¥5.87 +2%
China Merchants Shekou Industrial Zone Holdings 001979 ¥7.18 ¥6.04 −16%

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Cite: Fair Value Calculator (2026). "Daiwa House Industry Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/DWAHF

Frequently asked questions

Is Daiwa House Industry Co.Ltd (DWAHF) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of $17.40 versus a price of $14.00, about +24% upside (undervalued).
What is the fair value of DWAHF?
Our model-based fair value for Daiwa House Industry Co.Ltd is $17.40 (as of Sep 28, 2026), built from audited fundamentals. The current price: $14.00.
What is the quality score of DWAHF?
Daiwa House Industry Co.Ltd has a Quality Score of 48/100. 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 Daiwa House Industry Co.Ltd (DWAHF)?
Our model-based price target is the fair value of $17.40 (as of Sep 28, 2026) from 9 valuation models. Cautious scenario $14.30, optimistic scenario $25.24. It is a calculation from audited fundamentals, not an analyst target.
What is the Daiwa House Industry Co.Ltd stock forecast for 2026?
Our models put fair value at $17.40, about +24% upside versus a price of $14.00 (undervalued). Cautious scenario $14.30, optimistic scenario $25.24. The calculation is refreshed regularly with new filings.
What is the revenue of Daiwa House Industry Co.Ltd (DWAHF)?
Daiwa House Industry Co.Ltd reported trailing-twelve-month revenue of about ¥5.6T (latest available figure, as of Sep 28, 2026).
Does Daiwa House Industry Co.Ltd pay a dividend?
Daiwa House Industry Co.Ltd currently shows a dividend yield of about 3.47% relative to its recent price (as of Sep 28, 2026).
What is the intrinsic value of Daiwa House Industry Co.Ltd (DWAHF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Daiwa House Industry Co.Ltd it is $17.40 per share (as of Sep 28, 2026), against a price of $14.00. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Daiwa House Industry Co.Ltd stock overvalued or undervalued in 2026?
As of Sep 28, 2026, DWAHF trades below its calculated fair value: price $14.00, fair value $17.40, a gap of about +24% (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 DWAHF?
No. The price is what the market pays today ($14.00); the fair value is what the company's own numbers justify ($17.40). For Daiwa House Industry Co.Ltd the two are $3.40 per share apart. That gap is exactly why we show both numbers side by side.
How much is Daiwa House Industry Co.Ltd worth?
The market values Daiwa House Industry Co.Ltd at about $16.2B (market capitalisation, as of Sep 28, 2026). Per share that is $14.00; our models calculate a fair value of $17.40 per share.
What do the bullish and bearish scenarios say about DWAHF?
Our models span a range for Daiwa House Industry Co.Ltd: cautious scenario $14.30, base $17.40, optimistic $25.24 per share (as of Sep 28, 2026, price $14.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DWAHF?
Daiwa House Industry Co.Ltd trades at a price-to-earnings ratio of 4.0 (as of Sep 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $17.40 is built from several models across several years. Other multiples: P/B 0.9, P/S 0.5, EV/EBITDA 5.4.
How solid is the balance sheet of Daiwa House Industry Co.Ltd (DWAHF)?
Balance-sheet figures for Daiwa House Industry Co.Ltd (as of Sep 28, 2026): return on equity 12.5%, debt of 0.66 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is DWAHF from its 52-week high?
Daiwa House Industry Co.Ltd trades at $14.00, about 20% below its 52-week high of $17.54 and 24% above the low of $11.30 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of $17.40 is for.
Which stocks are comparable to Daiwa House Industry Co.Ltd?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, Hongkong Land Holdings, 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 Daiwa House Industry Co.Ltd stock attractive at the current price?
The data as of Sep 28, 2026: price $14.00, calculated fair value $17.40 (+24%), Quality Score 48/100, from 9 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 DWAHF calculated?
We run Daiwa House Industry Co.Ltd through 9 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 $17.40, 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 14.5 % above its aggregate fair value. Daiwa House Industry Co.Ltd currently trades 20 % 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 Daiwa House Industry Co.Ltd (DWAHF)?
The closing price on Sep 30, 2026 was $14.00. Our model-based fair value is $17.40, about +24% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Daiwa House Industry Co.Ltd right now?
The price is below even our cautious bear case ($14.30). The market is more pessimistic than our downside scenario. Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Daiwa House Industry Co.Ltd (DWAHF) come from?
Earnings per share at Daiwa House Industry Co.Ltd grew +10.3 % a year from 2015 to 2026. Broken into its drivers: revenue per share +6.6 %, EBIT margin +2.9 %, tax rate +0.2 %, residual (interest, one-offs) +0.3 %. 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 Daiwa House Industry Co.Ltd

How large is the market capitalisation of Daiwa House Industry Co.Ltd (DWAHF)?
The market capitalisation of Daiwa House Industry Co.Ltd is $16.2B. 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 Daiwa House Industry Co.Ltd (DWAHF)?
The price-to-sales ratio of Daiwa House Industry Co.Ltd is 0.25 (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 Daiwa House Industry Co.Ltd (DWAHF)?
Earnings per share at Daiwa House Industry Co.Ltd are $3.54 (price ÷ EPS = P/E 4.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Daiwa House Industry Co.Ltd (DWAHF)?
The dividend yield of Daiwa House Industry Co.Ltd is 3.5% (payout 13.7%). 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 Daiwa House Industry Co.Ltd (DWAHF)?
The net margin of Daiwa House Industry Co.Ltd is 6.3% (fiscal year 2026). 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 Daiwa House Industry Co.Ltd (DWAHF)?
The return on equity (ROE) of Daiwa House Industry Co.Ltd is 12.5% (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 Daiwa House Industry Co.Ltd (DWAHF)?
On an EBIT basis the return on assets of Daiwa House Industry Co.Ltd is 7.3% (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 Daiwa House Industry Co.Ltd (DWAHF)?
The operating margin of Daiwa House Industry Co.Ltd is 16.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Daiwa House Industry Co.Ltd (DWAHF)?
Revenue at Daiwa House Industry Co.Ltd is growing +4.2% versus a year earlier (3y avg +4.6%). 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 Daiwa House Industry Co.Ltd (DWAHF)?
Earnings per share at Daiwa House Industry Co.Ltd are growing +42.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Daiwa House Industry Co.Ltd (DWAHF) generate?
The free cash flow of Daiwa House Industry Co.Ltd is −¥306B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Daiwa House Industry Co.Ltd (DWAHF) carry?
The net debt of Daiwa House Industry Co.Ltd is ¥2.8T (fiscal year 2026). 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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