Merida Industry Co., Ltd.

TWSE:9914 Stock Report

Market Cap: NT$23.7b

Merida Industry Valuation

Is 9914 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 9914 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 9914 (NT$77.4) is trading above our estimate of future cash flow value (NT$63.42)

Significantly Below Future Cash Flow Value: 9914 is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9914?

Key metric: As 9914 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 9914. This is calculated by dividing 9914's market cap by their current earnings.
What is 9914's PE Ratio?
PE Ratio22.4x
EarningsNT$1.03b
Market CapNT$23.68b

Price to Earnings Ratio vs Peers

How does 9914's PE Ratio compare to its peers?

The above table shows the PE ratio for 9914 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.1x
4536 Topkey
12.4xn/aNT$15.1b
8478 Alexander Marine
9.8xn/aNT$13.3b
9921 Giant Manufacturing
62.8x57.23%NT$38.2b
6670 FuSheng Precision
11.3x10.32%NT$39.0b
9914 Merida Industry
22.4x31.70%NT$23.7b

Price-To-Earnings vs Peers: 9914 is good value based on its Price-To-Earnings Ratio (22.4x) compared to the peer average (24.1x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does 9914's PE Ratio compare vs other companies in the Asian Leisure Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
9914 22.4xIndustry Avg. 17.6xNo. of Companies16PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 9914 is expensive based on its Price-To-Earnings Ratio (22.4x) compared to the Asian Leisure industry average (17.6x).

Price to Earnings Ratio vs Fair Ratio

What is 9914's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

9914 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.4x
Fair PE Ratio18.7x

Price-To-Earnings vs Fair Ratio: 9914 is expensive based on its Price-To-Earnings Ratio (22.4x) compared to the estimated Fair Price-To-Earnings Ratio (18.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 9914 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$77.40
NT$101.55
+31.20%
17.57%NT$150.00NT$78.00n/a11
Sep ’27NT$82.10
NT$101.55
+23.69%
17.57%NT$150.00NT$78.00n/a11
Aug ’27NT$76.80
NT$95.10
+23.83%
23.00%NT$150.00NT$72.00n/a10
Jul ’27NT$77.70
NT$90.90
+16.99%
24.48%NT$150.00NT$70.00n/a10
Jun ’27NT$68.00
NT$91.00
+33.82%
25.78%NT$150.00NT$70.00n/a10
May ’27NT$57.90
NT$92.67
+60.05%
26.96%NT$150.00NT$70.00n/a9
Apr ’27NT$65.50
NT$94.50
+44.27%
27.43%NT$150.00NT$70.00n/a8
Mar ’27NT$75.20
NT$108.00
+43.62%
17.31%NT$150.00NT$82.00n/a11
Feb ’27NT$84.40
NT$111.45
+32.06%
14.89%NT$150.00NT$91.00n/a11
Jan ’27NT$82.70
NT$111.91
+35.32%
14.68%NT$150.00NT$91.00n/a11
Dec ’26NT$93.50
NT$115.73
+23.77%
13.83%NT$150.00NT$95.00n/a11
Nov ’26NT$100.00
NT$126.00
+26.00%
9.07%NT$150.00NT$104.00n/a11
Oct ’26NT$100.00
NT$126.00
+26.00%
9.07%NT$150.00NT$104.00n/a11
Sep ’26NT$112.50
NT$127.91
+13.70%
9.51%NT$150.00NT$104.00NT$82.1011
Aug ’26NT$116.50
NT$134.20
+15.19%
9.22%NT$150.00NT$112.00NT$76.8010
Jul ’26NT$103.00
NT$139.10
+35.05%
11.13%NT$163.00NT$112.00NT$77.7010
Jun ’26NT$118.50
NT$144.30
+21.77%
8.67%NT$163.00NT$115.00NT$68.0010
May ’26NT$132.00
NT$167.70
+27.05%
15.27%NT$230.00NT$135.00NT$57.9010
Apr ’26NT$154.00
NT$167.70
+8.90%
15.27%NT$230.00NT$135.00NT$65.5010
Mar ’26NT$169.50
NT$168.40
-0.65%
10.78%NT$198.00NT$135.00NT$75.2010
Feb ’26n/a
NT$166.00
0%
10.58%NT$198.00NT$135.00NT$84.409
Jan ’26NT$151.00
NT$167.11
+10.67%
10.45%NT$198.00NT$135.00NT$82.709
Dec ’25NT$160.00
NT$167.11
+4.44%
10.45%NT$198.00NT$135.00NT$93.509
Nov ’25NT$176.00
NT$245.10
+39.26%
15.97%NT$302.00NT$180.00NT$100.0010
Oct ’25NT$221.50
NT$254.60
+14.94%
13.47%NT$302.00NT$180.00NT$100.0010
Sep ’25NT$241.00
NT$257.60
+6.89%
11.05%NT$302.00NT$210.00NT$112.5010
NT$101.55
Fair Value
23.8% undervalued intrinsic discount
11
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/10 12:33
End of Day Share Price 2026/09/10 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Merida Industry Co., Ltd. is covered by 22 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Qihui LiBarclays
Ronald LeungBofA Global Research
Jihong LaiCapital Securities Corporation