Taiwan Paiho Limited

TWSE:9938 Stock Report

Market Cap: NT$21.3b

Taiwan Paiho Valuation

Is 9938 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 9938 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9938 (NT$70.3) is trading above our estimate of fair value (NT$16.03)

Significantly Below Fair Value: 9938 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9938?

Key metric: As 9938 is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 9938. This is calculated by dividing 9938's market cap by their current book value.
What is 9938's PB Ratio?
PB Ration/a
BookNT$0
Market CapNT$21.33b

Price to Book Ratio vs Peers

How does 9938's PB Ratio compare to its peers?

The above table shows the PB ratio for 9938 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average3.5x
1419 Shinkong Textile
0.9xn/aNT$13.5b
1444 Lealea Enterprise
0.8xn/aNT$9.0b
1342 Cathay Consolidated
3.6x26.9%NT$8.3b
4419 King House
8.5xn/aNT$7.6b
9938 Taiwan Paiho
n/an/aNT$21.3b

Price-To-Book vs Peers: Insufficient data to calculate 9938's Price-To-Book Ratio vs. peers for valuation analysis.

Price to Book Ratio vs Industry

How does 9938's PB Ratio compare vs other companies in the TW Luxury Industry?

0 CompaniesPrice / BookEstimated GrowthMarket Cap
9938 is unprofitableIndustry Avg. 1.2xNo. of Companies14PB00.81.62.43.24+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: Insufficient data to calculate 9938's Price-To-Book Ratio vs. industry for valuation analysis.

Price to Book Ratio vs Fair Ratio

What is 9938's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

9938 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ration/a
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 9938's Price-To-Book Fair Ratio for valuation analysis.

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 9938 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$70.30
NT$84.00
+19.5%
15.6%NT$100.00NT$68.00n/a3
Dec ’25NT$77.80
NT$84.00
+8.0%
15.6%NT$100.00NT$68.00n/a3
Nov ’25NT$80.10
NT$84.00
+4.9%
15.6%NT$100.00NT$68.00n/a3
Oct ’25NT$75.80
NT$76.33
+0.7%
8.6%NT$84.00NT$68.00n/a3
Sep ’25NT$61.50
NT$78.27
+27.3%
5.4%NT$84.00NT$73.80n/a3
Aug ’25NT$67.20
NT$71.20
+6.0%
18.0%NT$84.00NT$50.00n/a4
Jul ’25NT$63.90
NT$67.75
+6.0%
19.9%NT$84.00NT$50.00n/a4
Jun ’25NT$63.40
NT$67.75
+6.9%
19.9%NT$84.00NT$50.00n/a4
May ’25NT$63.60
NT$66.00
+3.8%
19.0%NT$84.00NT$50.00n/a4
Apr ’25NT$57.00
NT$62.50
+9.6%
18.3%NT$75.00NT$45.00n/a4
Mar ’25NT$57.20
NT$62.50
+9.3%
18.3%NT$75.00NT$45.00n/a4
Feb ’25NT$53.90
NT$62.50
+16.0%
18.3%NT$75.00NT$45.00n/a4
Jan ’25NT$57.60
NT$65.50
+13.7%
23.2%NT$80.00NT$40.00n/a4
Dec ’24NT$63.70
NT$65.50
+2.8%
23.2%NT$80.00NT$40.00NT$77.804
Nov ’24NT$58.60
NT$63.33
+8.1%
26.8%NT$80.00NT$40.00NT$80.103
Oct ’24NT$54.20
NT$63.33
+16.9%
26.8%NT$80.00NT$40.00NT$75.803
Sep ’24NT$49.95
NT$65.00
+30.1%
20.5%NT$80.00NT$40.00NT$61.505
Aug ’24NT$58.00
NT$69.00
+19.0%
9.4%NT$80.00NT$60.00NT$67.205
Jul ’24NT$54.40
NT$73.00
+34.2%
14.7%NT$90.00NT$60.00NT$63.905
Jun ’24NT$53.70
NT$73.00
+35.9%
14.7%NT$90.00NT$60.00NT$63.405
May ’24NT$55.80
NT$73.00
+30.8%
14.7%NT$90.00NT$60.00NT$63.605
Apr ’24NT$59.00
NT$73.00
+23.7%
14.7%NT$90.00NT$60.00NT$57.005
Mar ’24NT$61.00
NT$73.00
+19.7%
14.7%NT$90.00NT$60.00NT$57.205
Feb ’24NT$58.70
NT$67.40
+14.8%
18.9%NT$90.00NT$52.00NT$53.905
Jan ’24NT$56.80
NT$67.40
+18.7%
18.9%NT$90.00NT$52.00NT$57.605
Dec ’23NT$55.30
NT$67.40
+21.9%
18.9%NT$90.00NT$52.00NT$63.705

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 08:35
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 world class team 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 .

Analyst Sources

Taiwan Paiho Limited is covered by 14 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jihong LaiCapital Securities Corporation
Chien Po HuangCredit Suisse
Helen ChienDaiwa Securities Co. Ltd.