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6177

達麗 Construction & Materials As of 2026-06-17 Updated daily after market close

strong quality, discounted valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 達麗 to your watchlist to track signal changes on your next visit.
Valuation 81Quality 98Growth 95Momentum 45Chips 83

Is 達麗 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~98% of the market. Latest quarterly ROE ≈ 13.8%.

  • Valuation is low.PE is in the 2th market percentile; within its own history, PE is around the 24th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 6.8% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 149.2%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as Revenue YoY ≥ 20% are active — see the historical forward returns after each occurrence below.

Chip flow

Bearish -0.46
BearishNeutralBullish

Distribution to retail — bearish

  • Distribution to retail — bearish
  • 土銀-建國 holds 1,582 lots
  • sellers have 1,875 lots left, ~270 sessions to clear

Window from 2026-01-17 · Price -6% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 土銀-建國 has accumulated 1,582 lots since the start (sold 0%), still adding.
  • Main distributor 台新-建北 peaked at 1,481 lots, has sold 52%, 712 left, ~9 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -2.38pp, mid holders +0, retail +1.77pp — drifting down to retail.
  • Foreign hedge-desk net short Net short -2,723 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Branch inventory reconstruction
Accumulating holders Branches that accumulated shares during the window and still hold positive inventory; they are the absorbing side.
Distributing sellers Branches that built inventory earlier and have been selling it down; the remaining number estimates what has not cleared.
Net-short desks Trading-desk branches with negative inventory or net selling, often hedge, offsetting, or short-term flow. It is not automatically a bearish view.
Accumulating
土銀-建國元大-東泰兆豐-忠孝元大-華山永豐金-高雄新百王
Distributing
台新-建北國泰-敦南統一-土城台新證券元大-小港凱基-虎尾
Desks
own scale
元大證券永豐金證券美商高盛凱基
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 土銀-建國 +1,582
    sold 0%· still adding
  • 元大-東泰 +1,485
    sold 0%· still adding
  • 兆豐-忠孝 +1,391
    sold 12%
  • 元大-華山 +1,325
    sold 12%
  • 永豐金-高雄 +961
    sold 0%· still adding
  • 新百王 +688
    sold 0%

Distributing

  • 台新-建北 712 left
    sold 52%· ~9 sessions to clear
  • 國泰-敦南 657 left
    sold 41%· ~18 sessions to clear
  • 統一-土城 229 left
    sold 33%· ~65 sessions to clear
  • 台新證券 148 left
    sold 41%· paused recently
  • 元大-小港 59 left
    sold 72%· ~4 sessions to clear
  • 凱基-虎尾 95 left
    sold 46%· ~19 sessions to clear

Desks

  • 元大證券 -1,896
    unclassified
  • 永豐金證券 -1,761
    unclassified
  • 美商高盛 -1,501
    hedge desk · will cover
  • 凱基 -1,380
    unclassified
Still selling 1,875 lots ~270 sessions to bottom at most
Recent buy/sell force +2,959 absorbed / -1,418 sold buyers slightly ahead
Hedge-desk net short -2,127 lots potential cover-buying, not selling pressure
TDCC big holders · absolute-holding cross-check
>1000-lot holder share Retail (<400 lots) share Price (right axis)

Weak direction: big-holder share fell while retail share rose.

Describes chip flow, not investment advice. Branch data discloses only high-volume branches with ~1-day lag; TDCC is weekly. Inventory is a relative reconstruction from the window start, not absolute holdings.

Historical evidence

Signals active now

These signals are true on the latest data, with this stock's own historical forward-return stats after each occurrence.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 149.18%

Monthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).

112 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 43.6%, Sample 110, Median -0.23%, Excess +0.02%, Beat mkt rate 43.6%；60-day: Win 60.2%, Sample 108, Median +3.87%, Excess +0.93%, Beat mkt rate 52.8%；120-day: Win 62.9%, Sample 105, Median +4.3%, Excess +2.54%, Beat mkt rate 60%

120 days after: historical avg +7.67%

20-day +1.01%
60-day +3.85%
120-day +7.67%
20-day
60-day
120-day
Win
43.6%
60.2%
62.9%
Sample
110
108
105
Median
-0.23%
+3.87%
+4.3%
Excess
+0.02%
+0.93%
+2.54%
Beat mkt rate
43.6%
52.8%
60%

Over 105 occurrences, 120-day forward avg gained 7.67%, beat the market by 2.54 pts; win rate 62.9%.

Valuation regime and subsequent returns

Each day's PE is converted to its own-history percentile (as of that day), then we look at adjusted-close returns over the next 240 trading days by valuation regime.

PE percentile bandSample days240-day avg returnMedianWin rateAvg excess (vs index)
0-20 426+6.8% +14.9% 64.6% -3.2%
20-40 You are here518+28.4% +24.2% 85.5% +9.6%
40-60 757+12.7% +12.3% 71.3% -8.9%
60-80 446+28% +14.9% 84.5% +11.4%
80-100 663+20.1% +7% 73.6% +2.8%

Percentiles use an expanding own-history window (no look-ahead); forward return is 240 trading days on adjusted close. Sample days overlap; distribution is indicative only.

Current PE ≈ 6.46, at the 23.6th percentile of its own history (20-40 band).

Valuation × momentum historical grid

Every day in its own history is bucketed by valuation tercile (own-history PE) and 60-day momentum sign into six cells; we show adjusted-close returns over the next 120 trading days per cell.

Valuation
Momentum
Cheap (own-history bottom 1/3)
Mid
Expensive (own-history top 1/3)
60-day momentum up
+4%
Win rate 74.5% Excess -1.1%
436d
+2.4%
Win rate 53.9% Excess -7.3%
794d
+22%
Win rate 75.2% Excess +6.8%
681d
60-day momentum down
Now
+8.3%
Win rate 72.5% Excess +2.3%
306d
+9.2%
Win rate 79.4% Excess +2.1%
456d
+9.5%
Win rate 86.4% Excess +5.9%
257d

Currently in “Cheap (own-history bottom 1/3) × 60-day momentum down”: across 306 historical days, 120-day forward avg gained 8.3%, win rate 72.5%, beat the market by 2.3%.

Days = trading days in this bucket; returns use adjusted prices, ex-costs. 60-day momentum: direction of this stock's price over the past 60 trading days.

Does this signal hold up across the market

Over the past 242 months, on average ~404 stocks per month met “monthly revenue YoY ≥ 20%”; their adjusted-close return over the next 60 trading days averaged 6.94% (equal-weighted), beating the market by 2.37 points on average, and outperformed the TAIEX total-return index in 64.5% of months.

Each month, equal-weighted 60-day forward adjusted return of all signal-matching stocks, then averaged across months; excess vs the TAIEX total-return index.

Signals not active (historical stats for reference)

These are not occurring now; historical samples shown for comparison.

252-day price high (breakout)

Pending

Adjusted close makes a new 252-day high; repeats within 20 days counted once.

34 times historically; 60-day forward avg +4.99%, win rate 52.9%, beating the market by -0.17 pts on average.

Foreign net buying for 5 straight days

Pending

Foreign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.

72 times historically; 60-day forward avg +5.23%, win rate 68.6%, beating the market by +0.45 pts on average.

What does 達麗 do? Company profile

建材營造業／建設業 TWSE 上市

Overview

達麗為台灣上市普通股，證券代號6177，公司全名為達麗建設事業股份有限公司，英文名稱DA-LI DEVELOPMENT CO., LTD.。公開資訊與股市資料顯示其成立日期為1977/10/04，興櫃日期2002/01/02，上櫃日期2002/04/22，上市日期2013/08/01；公司官網投資人頁另載明達麗建設成立於2008年，兩者可能涉及公司沿革或組織調整口徑差異，未能完全釐清。總部位於台北市中山區建國北路一段96號10樓，另有台中、台南、高雄與美國西雅圖辦事處。董事長為謝志長，總經理為李堯芳；2024年報刊印時發言人為廖政雄。實收資本額依近期股市資料約47.19億元、發行普通股約4.72億股；2024年報於2025/04/14列示流通在外448,852,811股，之後因2024年度股票股利每股0.5元使股本提高。2024年報列示2024年底員工合計204人，截至2025/03/31為217人。主要股東多為投資公司，2025/04/14前十大包含廣昕投資8.25%、欣合盛投資6.05%、萬佳興投資4.83%、昕合興投資4.75%、兆豐生投資4.31%、碩宏投資4.26%、昕合潤投資3.88%、昕順興投資3.83%、昕恒投資2.78%、達潤投資2.46%；年報揭露多名代表人或關係人具一親等、二親等或配偶關係。主要轉投資包括100%持有寶信營造、100%持有達鉅建設、60%持有達麗米樂開發，以及美國DA LI HOLDING與多家美國地產子公司。2024年度合併營收123.20億元、EPS 5.01元；2025年度合併營收95.31億元、EPS 3.84元；2026年第1季因建案入帳，公開報導與股市資料顯示EPS約3.53元、毛利率約50.06%。

Business

達麗屬營運公司，核心業務為不動產開發、建設與銷售，年報載明主要經營委託營造廠商興建商業大樓及國民住宅出租、出售、都市更新重建、不動產買賣及租賃。主要產品為住宅大樓、辦公大樓、店面、商場與停車位；產品用途包括住家、套房、店面、商場、停車位等。商業模式以土地開發、市場調查、規劃設計、行銷企劃、推案銷售、營建施工、完工交屋、大樓管理、售後服務與資產管理為主，營收認列高度受個案完工交屋時點影響，因此年度與季度營收波動大。營收結構未在公開來源找到完整百分比拆分；依公司年報與營業項目判斷，主要收入來自房地產銷售，另有商場出租、工程承攬或轉投資事業相關收入。2024年報列示主要銷貨客戶為其他100%，並說明銷售對象多為不特定個人或公司行號，符合住宅與商辦銷售特性。主要銷售區域涵蓋台北、台中、台南、高雄與美國西雅圖。2024年報列示重要案源與預計完工年度，包括台北陽明大苑、達麗天蒔、北投達麗河蘊，台中達麗創世紀、達麗冶翠、達麗新高鐵、達麗拾穗，台南達麗國家強棒、松丹達麗、達麗世界仁、平實段R10/R11/R12，高雄達麗上東京、橋頭達麗未來市、岡山達麗雙子星、橋頭達麗世界學，以及西雅圖KODA、富士松村合建住商案、派克案出租住宅公寓。公司策略聚焦六都、軌道經濟、產業發展區、公辦都更、捷運聯開、危老都更、地上權與商用不動產，並以100%子公司寶信營造協助控制工程品質、進度與成本。

Outlook 2025–2028

2025至2028展望呈現典型建設股個案入帳循環。2025年公司年報預期房市短期價穩量縮，買氣急速減弱，長期仍待觀察；主要壓力來自央行選擇性信用管制、新青安嚴審、囤房稅、房地合一稅、精華土地取得不易、土地與營建成本上升、少子化導致長期住屋需求減弱。2025年度實際營收95.31億元、EPS 3.84元，較2024年EPS 5.01元下滑，主因建案交屋入帳節奏差異。2026年成長動能主要來自達麗世界仁、達麗未來市、達麗冶翠、達麗河蘊等建案陸續完工交屋；公開法說與媒體資料指出2026年有較大交屋總銷可認列，2026年第1季已因世界仁等個案入帳帶動EPS約3.53元與高毛利率。2026年公司亦獲選高雄左營區部後段都市更新案最優申請人之一，若後續簽約、審議、設計與開發順利，可能成為2027年後案量來源。2027年依2024年報列示，台中達麗冶翠、達麗新高鐵、高雄達麗世界學等預計於民國116年完工，可能支撐2027交屋入帳；2028年則有台中西屯達麗拾穗、台南東區平實段R10等預計民國117年完工或規劃接棒。中長期成長主軸包括六都軌道經濟、台南平實段開發、台中高鐵與洲際周邊、北士科與雙北都更、橋頭科學園區與高雄左營大型都更、美國西雅圖住宅與商辦開發、商場租賃與達麗米樂開發帶來的穩定收益。主要風險包括政策信用管制使買方貸款成數下降、預售銷售率與交屋率不如預期、退戶與延遲交屋、土地庫存價格偏高、鋼筋與機電材料等營建成本上升、利率維持高檔提高財務成本、建照與都更審議時程不確定、美國開發案匯率與當地房市風險，以及建設股盈餘集中於完工年度而難以線性外推。

Supply Chain

Upstream
  • 大同資產開發股份有限公司 2024年報列為113年度主要供應商，金額53.84億元、占全年進貨淨額64.01%；年報註明上列交易對象均為地主，屬營建用地取得，非固定原物料供應商。大同資產開發本身未查得台股掛牌代號。
  • 台灣肥料股份有限公司 1722 2024年報列為112年度主要供應商，金額18.32億元、占全年進貨淨額27.36%；交易性質依年報註記為地主或土地取得相關。
  • 寶信營造股份有限公司 達麗100%轉投資營造子公司，年報與董事會議案多次揭露新建工程委由寶信營造承攬，用於控管施工進度、工程品質與營建成本；未上市櫃。
  • 地主、合建地主、都市更新權利人 土地為主要投入來源；公司以購地、合建、都市更新、捷運聯合開發與地上權等方式取得案源，個案交易對象分散且多非上市櫃公司。
  • 營造廠商與建材供應商 年報說明營建工程以優良營造廠商為主要合作對象，材料採自行比價、包工包料或聯合方式發包，來源供應穩定；未揭露固定上市櫃供應商名單。
Downstream
  • 不特定個人購屋戶 年報說明主要銷售對象多為不特定個人或公司行號；住宅大樓客群包含首購、自住、換屋與老舊換屋需求。
  • 不特定公司行號與商辦買方 辦公大樓、店面、商場與停車位等產品的銷售或租賃對象，年報未揭露單一重大客戶，主要銷貨客戶列為其他100%。
  • 商場與店面租戶 公司未來策略包含商用不動產與商場租賃，透過商場組合調整提供租金收入；租戶多為非特定商業承租方。
  • 海悅國際開發股份有限公司 2348 2024年報董事會議案揭露達麗擬與華友聯開發及海悅國際共同成立合資公司；海悅為台股上市不動產代銷與開發相關公司，屬合作夥伴而非一般終端客戶。
  • 華友聯開發股份有限公司 1436 2024年報董事會議案揭露達麗擬與華友聯開發及海悅國際共同成立合資公司；華友聯為台股上市建設公司，屬合作開發夥伴。

Competitors

  • 興富發建設 2542 台股上市大型住宅與商辦建商，推案區域與達麗在六都住宅市場、公辦都更與商辦開發有競爭。
  • 遠雄建設 5522 台股上市大型建商，具住宅、商辦與大型開發案經驗，與達麗在雙北、都更及高總銷案源競爭。
  • 華固建設 2548 台股上市建商，聚焦雙北住宅、商辦與高端產品，與達麗在大台北開發案競爭。
  • 長虹建設 5534 台股上市建商，雙北商辦與住宅開發能力強，為達麗在北部市場競爭者。
  • 國泰建設 2501 台股上市老牌建商，品牌、土地與住宅開發實力強，屬全台住宅市場競爭者。
  • 國城建設 2527 台股上市南部建商，與達麗在高雄、台南等南部住宅與都更案源競爭。
  • 愛山林建設開發 2540 台股上市不動產開發與代銷公司，近年參與都更與大型開發，與達麗在都更、公辦都更及住宅推案競爭。
  • 潤隆建設 1808 台股上市建設公司，於住宅開發與六都剛需市場與達麗競爭。
  • 皇翔建設 2545 台股上市建商，主要在雙北住宅與商辦市場競爭。
  • 太子建設 2511 台股上市建商，涵蓋住宅、商用不動產與土地開發，為同產業競爭者。
Sources（12）

This company profile is compiled from public sources (annual reports, filings, news and analyst reports), not finlab backtest data; the 2025–2028 outlook contains forward-looking estimates and is for reference only.

Method and limitations

  • All returns use adjusted close (etl:adj_close), already adjusted for dividends and splits.
  • Excess return is measured against the TAIEX total-return index (dividends included).
  • Valuation regime and percentile stats use an expanding own-history window (no future data).
  • Revenue-signal event dates align to the first trading day after the filing deadline, avoiding look-ahead.
  • Event samples may overlap in time; stats describe historical distribution only and are less reliable when samples are few.

This page is historical statistics for educational purposes and is not investment advice. Investing involves risk; past performance does not indicate future results. Assess and bear the risk yourself before trading.