Shin-Etsu Polymer Co.,Ltd. (SETUF) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of Shin-Etsu Polymer Co.,Ltd. $13.19, price $9.76, upside +35.1%, quality 67 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 $2.43 – $9.76 · fair‑value band $9.89 – $16.49 · the $9.76 price screens below the $13.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Shin-Etsu Polymer Co.,Ltd. develops and supplies PVC and semiconductor silicone products worldwide.
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Shin-Etsu Polymer Co.,Ltd. develops and supplies PVC and semiconductor silicone products worldwide. It offers touch switches and pads, rubber contacts, short strokes, metal domes, in-molds, pressure sensitive devices, view/light path control films, and anisotropic conductive rubber connectors; and silicone rubber tubes and sheets, silicone sponge sheets, medical tube transitions, office automation rollers, medical and chemical products, culture plugs, embossed/blister carrier tapes, top cover tapes, plastic tape frame, and electronic component carrier, as well as wrap films. The company provides PVC pipes and corrugated sheets, sealing materials, self-bonding Silicone rubber tape, silicone adhesive sheets, and construction/civil engineering waterproof silicone sheet; and compound, transparent conductive ink, high-functioning engineering plastic films, PVC, TPV, and TPU compound, conductive polymer, and PEEK film. It serves consumer electronics, electric components, semiconductor, automotive, and construction markets. The company was incorporated in 1960 and is headquartered in Tokyo, Japan. Shin-Etsu Polymer Co., Ltd. is a subsidiary of Shin-Etsu Chemical Co., Ltd.
Stock analysis
Shin-Etsu Polymer Co.,Ltd. (SETUF) currently trades at $9.76, while our model-based Fair Value estimate is $13.19, implying the stock looks roughly 26.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $15.97 per share, and 20 of the 24 models we run sit above the $9.76 price.
Bear case: the Earnings-Based group reads lowest at $4.13, and 4 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $9.89 (bear) to $16.49 (bull), the price of $9.76 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 67/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Shin-Etsu Polymer Co.,Ltd. reported revenue of ¥115B in FY2026 versus ¥92.6B in FY2022, a compound +5.6%/yr. Reported net income was ¥9.9B in FY2026, compounding +11.9%/yr from FY2022.
Key figures
Market cap $784M · P/E ratio 12.0 · P/S ratio 1.04 · EPS (TTM) $0.8100 · Dividend yield 3.7% · Net margin 8.6% · Return on equity 7.8% · Return on assets (EBIT) 8.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 6% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −40% fair-value upside, at 35%, SETUF screens cheaper than that median.
Fair Value models
Bear $9.89Fair Value $13.19Bull $16.49
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.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.77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.1%
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.
+2.1%
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.
+8.4%
Start year 2021 (pandemic)
Revenue growth 6 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.
+6.2%
’20
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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.
+13.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.6%
Dividend (yield on the price)3.7%
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% → 12%
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).
−7.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about −9.3% a year for the price.
Compare Shin-Etsu Polymer Co.,Ltd. with another stock
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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.Specialty Chemicals · 714 stocks
Beats the industry median on 13/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside+35% · Top 25%
Profitability
Return on equity (TTM)8% · Above median
Return on assets6% · Top 25%
Net margin (TTM)9% · Above median
Operating margin (TTM)11% · Above median
Growth and dividend
Revenue growth6% · Above median
Dividend yield (TTM)3.7% · Top 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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Is Shin-Etsu Polymer Co.,Ltd. (SETUF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $13.19 versus a price of $9.76, about +35% upside (undervalued).
What is the fair value of SETUF?
Our model-based fair value for Shin-Etsu Polymer Co.,Ltd. is $13.19 (as of Sep 24, 2026), built from audited fundamentals. The current price: $9.76.
What is the quality score of SETUF?
Shin-Etsu Polymer Co.,Ltd. has a Quality Score of 67/100. 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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
Our model-based price target is the fair value of $13.19 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $9.89, optimistic scenario $16.49. It is a calculation from audited fundamentals, not an analyst target.
What is the Shin-Etsu Polymer Co.,Ltd. stock forecast for 2026?
Our models put fair value at $13.19, about +35% upside versus a price of $9.76 (undervalued). Cautious scenario $9.89, optimistic scenario $16.49. The calculation is refreshed regularly with new filings.
What is the revenue of Shin-Etsu Polymer Co.,Ltd. (SETUF)?
Shin-Etsu Polymer Co.,Ltd. reported trailing-twelve-month revenue of about ¥115B (latest available figure, as of Sep 24, 2026).
Does Shin-Etsu Polymer Co.,Ltd. pay a dividend?
Shin-Etsu Polymer Co.,Ltd. currently shows a dividend yield of about 3.70% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Shin-Etsu Polymer Co.,Ltd. (SETUF)?
For today's price to be fair in a discounted-cash-flow model, Shin-Etsu Polymer Co.,Ltd. would have to grow free cash flow by -7.4 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SETUF use?
Our models discount Shin-Etsu Polymer Co.,Ltd. at 10.4 %: a base by market capitalisation (small), damped by beta 0.71, country premium for USA. 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 Shin-Etsu Polymer Co.,Ltd. that is -7.4 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Shin-Etsu Polymer Co.,Ltd. (SETUF) delivered so far?
Over the past 5 years revenue at Shin-Etsu Polymer Co.,Ltd. grew +8.4 % a year. The price currently implies -7.4 % 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 Shin-Etsu Polymer Co.,Ltd. (SETUF) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into Shin-Etsu Polymer Co.,Ltd. (-7.4 % 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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
The free-cash-flow yield on the price is 8.22 %: that much free cash flow Shin-Etsu Polymer Co.,Ltd. produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Shin-Etsu Polymer Co.,Ltd. (SETUF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shin-Etsu Polymer Co.,Ltd. it is $13.19 per share (as of Sep 24, 2026), against a price of $9.76. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Shin-Etsu Polymer Co.,Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SETUF trades below its calculated fair value: price $9.76, fair value $13.19, a gap of about +35% (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 SETUF?
No. The price is what the market pays today ($9.76); the fair value is what the company's own numbers justify ($13.19). For Shin-Etsu Polymer Co.,Ltd. the two are $3.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shin-Etsu Polymer Co.,Ltd. worth?
The market values Shin-Etsu Polymer Co.,Ltd. at about $784M (market capitalisation, as of Sep 24, 2026). Per share that is $9.76; our models calculate a fair value of $13.19 per share.
What do the bullish and bearish scenarios say about SETUF?
Our models span a range for Shin-Etsu Polymer Co.,Ltd.: cautious scenario $9.89, base $13.19, optimistic $16.49 per share (as of Sep 24, 2026, price $9.76). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SETUF?
Shin-Etsu Polymer Co.,Ltd. trades at a price-to-earnings ratio of 12.0 (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 $13.19 is built from several models across several years. Other multiples: P/B 1.0, P/S 1.1, EV/EBITDA 3.7.
How solid is the balance sheet of Shin-Etsu Polymer Co.,Ltd. (SETUF)?
Balance-sheet figures for Shin-Etsu Polymer Co.,Ltd. (as of Sep 24, 2026): return on equity 7.8%. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is SETUF from its 52-week high?
Shin-Etsu Polymer Co.,Ltd. trades at $9.76, at its 52-week high of $9.76 and 6% above the low of $9.19 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of $13.19 is for.
Which stocks are comparable to Shin-Etsu Polymer Co.,Ltd.?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, 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 Shin-Etsu Polymer Co.,Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price $9.76, calculated fair value $13.19 (+35%), Quality Score 67/100, 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 SETUF calculated?
We run Shin-Etsu Polymer 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 $13.19, 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 14.1 % above its aggregate fair value. Shin-Etsu Polymer Co.,Ltd. currently trades 35 % 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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
The closing price on Sep 18, 2026 was $9.76. Our model-based fair value is $13.19, about +35% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shin-Etsu Polymer Co.,Ltd. right now?
Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits below our cautious bear case: the market assumes less than even our pessimistic scenario. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Shin-Etsu Polymer Co.,Ltd.
How large is the market capitalisation of Shin-Etsu Polymer Co.,Ltd. (SETUF)?
The market capitalisation of Shin-Etsu Polymer Co.,Ltd. is $784M. 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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
The price-to-sales ratio of Shin-Etsu Polymer Co.,Ltd. is 1.04 (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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
Earnings per share at Shin-Etsu Polymer Co.,Ltd. are $0.8100 (price ÷ EPS = P/E 12.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shin-Etsu Polymer Co.,Ltd. (SETUF)?
The dividend yield of Shin-Etsu Polymer Co.,Ltd. is 3.7% (payout 44.6%). 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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
The net margin of Shin-Etsu Polymer Co.,Ltd. is 8.6% (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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
The return on equity (ROE) of Shin-Etsu Polymer Co.,Ltd. is 7.8% (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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
On an EBIT basis the return on assets of Shin-Etsu Polymer Co.,Ltd. is 8.6% (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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
The operating margin of Shin-Etsu Polymer Co.,Ltd. is 10.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shin-Etsu Polymer Co.,Ltd. (SETUF)?
Revenue at Shin-Etsu Polymer Co.,Ltd. is growing +5.5% versus a year earlier (3y avg +2.1%). 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 Shin-Etsu Polymer Co.,Ltd. (SETUF)?
Earnings per share at Shin-Etsu Polymer Co.,Ltd. are growing −19.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Sep 24, 2026