Delta Electronics Inc (2308) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Delta Electronics Inc stock TWD 520, price TWD 1,055, that is 50.8% below the price, quality 71 out of 100. Rating: strongly overvalued. 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. As of Nov 5, 2026.
How to read this chart
60‑month range 204.57 TWD – 2,520 TWD · fair‑value band 346.02 TWD – 675.45 TWD · the 1,055 TWD price screens above the 519.57 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Delta Electronics, Inc., together with its subsidiaries, provides power and thermal management solutions in Mainland China, the United States, Taiwan, Thailand, and internationally. It operates through Power Electronics, Mobility, Automation, and Infrastructure segments.
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The company offers inductors, transformer components, networking products, EMI filters, solenoids, current sensing resistors, power modules, and stamping and over molding components; embedded power, adapters, industrial and medical power solutions, industrial battery charging, USB socket outlets, and hydrogen power and high voltage power solutions; and DC brushless and EC fans and blowers, automotive thermal and thermal management solutions, liquid cooling and climate thermal solutions, and indoor air quality products.
It also provides EV power electronics, traction, and X-in-1 products.
In addition, the company offers drive and power quality, motion, control, robot, and manufacturing equipment, as well as field devices, software, and industrial PCs; and building management and control, indoor air quality, LED lighting, smart surveillance, healthy lighting, and building solutions.
Further, it provides telecom power systems, networking and rural electrification system, UPS and data center infrastructure, and power quality products; EV charging, energy storage systems, photovoltaic inverters, energy management, wind power converters, solid state transformers, medium voltage drives, high voltage power, automatic test equipment, and hydrogen energy and fuel cell solutions; and business and education multimedia and high-performance projectors, collaboration and signage solutions, and smart campus solutions, as well as DLP, LED, and LCD video walls.
Additionally, it provides consulting services for building management and control solutions. Delta Electronics, Inc. was founded in 1971 and is headquartered in Taipei, Taiwan.
Stock analysis
Delta Electronics Inc (2308) currently trades at 1,055 TWD, while our model-based Fair Value estimate is 519.57 TWD, 51% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 519.57 TWD per share, and 0 of the 26 models we run sit above the 1,055 TWD price.
Bear case: the Dividend Discount group reads lowest at 89.68 TWD, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 346.02 TWD (bear) to 675.45 TWD (bull), the price of 1,055 TWD sits above 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 71/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Delta Electronics Inc reported revenue of 555B TWD in FY2025 versus 315B TWD in FY2021, a compound +15.2%/yr. Reported net income was 67.9B TWD in FY2025, compounding +26.2%/yr from FY2021.
Key figures
Market cap 2.7T TWD (≈ $83.2B) Large · P/E ratio 33.6 · P/S ratio 3.91 · EPS (TTM) 31.37 TWD · Dividend yield 1.1% · Net margin 12.3% · Return on equity 28.5% · Return on assets (EBIT) 9.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −24% fair-value upside, at −51%, 2308 screens richer than that median.
Fair Value models
Bear346.02 TWDFair Value 519.57 TWDBull675.45 TWD
Price 1,055 TWD · Downside -50.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (16.79 TWD per share) are deliberately not added.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.Coverage ⓘCoverage = 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+31.8%
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.
+13.0%
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.
+14.4%
Start year 2020 (pandemic). Over 10 years: +10.6% a year
Revenue growth 16 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.
+9.8%
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What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in TWD: 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.
+12.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.6%
Dividend (yield on the price)1.1%
Per share before 2009divided by the spin-off factor 1.02
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.18.8% vs 11.8%, picking up
Profit margin 2020 to 2025 ⓘ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.11% → 15%
2025 sits 81% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
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).
+30.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+33.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +28.9% a year for the price and +31.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (91 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.Positive
Recent news coverage is more positive than average.
AI conclusion: Delta Electronics shows strength in revenue growth from AI data center power and cooling products that now make up half of sales, yet its main weakness lies in recurring margin pressure from inventory write-downs.
Main risk: Rapid changes in AI data center power architectures, such as NVIDIA board-level design shifts, could bypass Delta's existing DC-DC modules and cause immediate revenue losses in its server power supply business.
Bull case: Delta could maintain leadership by rapidly adapting to new power architectures like 800V HVDC and expanding microgrid and solid-oxide fuel cell solutions to capture broader AI infrastructure demand.
Bear case: If architecture shifts, patent restrictions or hyperscaler capex slowdowns materialize, Delta's high-margin AI server power and thermal business could face sustained revenue pressure and loss of key customer orders.
Delta Electronics is seeing strong revenue growth from power and cooling products tied to AI data centers, which now account for half of sales. Recent results, however, showed how project delays and supply imbalances triggered inventory write-downs that pressured margins. Will these temporary frictions ease as orders ramp up, or will they continue to weigh on profitability even as long-term demand holds?
Price, fair value, quality and upside side by side.
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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.Electronic Components · 652 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside−50.8% · Below median
Profitability
Return on equity (12 months)28.5% · Top 25%
Return on assets10.6% · Top 25%
Net margin (12 months)12.3% · Above median
Operating margin (12 months)16.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)31.1% · Top 25%
Dividend yield (12 months)1.1% · Below median
Balance sheet
Debt / equity0.21× · Above median
Valuation Multiplesvs Electronic Components median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Delta Electronics Inc (2308) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 519.57 TWD versus a price of 1,055 TWD, about 51% lower (overvalued).
What is the fair value of 2308?
Our model-based fair value for Delta Electronics Inc is 519.57 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 1,055 TWD.
What is the quality score of 2308?
Delta Electronics Inc has a Quality Score of 71/100. 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 Delta Electronics Inc (2308)?
Our model-based price target is the fair value of 519.57 TWD (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 346.02 TWD, optimistic scenario 675.45 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Delta Electronics Inc stock forecast for 2026?
Our models put fair value at 519.57 TWD, about 51% lower versus a price of 1,055 TWD (overvalued). Cautious scenario 346.02 TWD, optimistic scenario 675.45 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Delta Electronics Inc (2308)?
Delta Electronics Inc reported trailing-twelve-month revenue of about 701B TWD (latest available figure, as of Nov 5, 2026).
Does Delta Electronics Inc pay a dividend?
Delta Electronics Inc currently shows a dividend yield of 1.10% relative to its recent price (as of Nov 5, 2026).
What growth is priced into Delta Electronics Inc (2308)?
For today's price to be fair in a discounted-cash-flow model, Delta Electronics Inc would have to grow free cash flow by +30.9 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.5 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 2308 use?
Our models discount Delta Electronics Inc at 11.0 %: a base by market capitalisation (large), damped by beta 1.49, country premium for Taiwan. 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 Delta Electronics Inc that is +30.9 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Delta Electronics Inc (2308) delivered so far?
Over the past 5 years revenue at Delta Electronics Inc grew +14.5 % a year. The price currently implies +30.9 % 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 Delta Electronics Inc (2308) growing?
The median revenue growth in the sector is +11.4 % a year. That is the yardstick for the growth priced into Delta Electronics Inc (+30.9 % 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 Delta Electronics Inc (2308)?
The free-cash-flow yield on the price is 1.92 %: that much free cash flow Delta Electronics Inc produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Delta Electronics Inc (2308)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Delta Electronics Inc it is 519.57 TWD per share (as of Nov 5, 2026), against a price of 1,055 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Delta Electronics Inc stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 2308 trades above its calculated fair value: price 1,055 TWD, fair value 519.57 TWD, a gap of about −51% (overvalued). 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 2308?
No. The price is what the market pays today (1,055 TWD); the fair value is what the company's own numbers justify (519.57 TWD). For Delta Electronics Inc the two are 535.43 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Delta Electronics Inc worth?
The market values Delta Electronics Inc at about 2.7T TWD (market capitalisation, as of Nov 5, 2026). Per share that is 1,055 TWD; our models calculate a fair value of 519.57 TWD per share.
What do the bullish and bearish scenarios say about 2308?
Our models span a range for Delta Electronics Inc: cautious scenario 346.02 TWD, base 519.57 TWD, optimistic 675.45 TWD per share (as of Nov 5, 2026, price 1,055 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2308?
Delta Electronics Inc trades at a price-to-earnings ratio of 33.6 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 519.57 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 23.7. Other multiples: PEG 0.7, P/B 10.2, P/S 3.9, EV/EBITDA 17.7.
What is the PEG ratio of 2308?
The PEG ratio of Delta Electronics Inc is 0.71 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Delta Electronics Inc (2308)?
Balance-sheet figures for Delta Electronics Inc (as of Nov 5, 2026): return on equity 28.5%, debt of 0.21 per unit of equity. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is 2308 from its 52-week high?
Delta Electronics Inc trades at 1,055 TWD, about 58% below its 52-week high of 2,520 TWD and 19% above the low of 890.00 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 519.57 TWD is for.
Which stocks are comparable to Delta Electronics Inc?
From the same area (Technology) we also value Amphenol Corporation, Corning Incorporated, TE Connectivity plc, Luxshare Precision Industry Co, 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 Delta Electronics Inc stock attractive at the current price?
The data as of Nov 5, 2026: price 1,055 TWD, calculated fair value 519.57 TWD (−51%), Quality Score 71/100, from 26 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 2308 calculated?
We run Delta Electronics Inc through 26 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 519.57 TWD, 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 15.5% above its aggregate fair value. Delta Electronics Inc itself currently trades above fair value. 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 Delta Electronics Inc (2308)?
The closing price on Nov 6, 2026 was 1,055 TWD. Our model-based fair value is 519.57 TWD, about 51% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Delta Electronics Inc right now?
The price sits above even our optimistic bull case (675.45 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (71/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (346.02 TWD to 675.45 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Delta Electronics Inc (2308) come from?
Earnings per share at Delta Electronics Inc grew +9.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.6 %, EBIT margin +1.9 %, tax rate −0.4 %, residual (interest, one-offs) −1.1 %. 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 Delta Electronics Inc
How large is the market capitalisation of Delta Electronics Inc (2308)?
The market capitalisation of Delta Electronics Inc is 2.7T TWD (≈ $83.2B). 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 Delta Electronics Inc (2308)?
The price-to-sales ratio of Delta Electronics Inc is 3.91 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Delta Electronics Inc (2308)?
Earnings per share at Delta Electronics Inc are 31.37 TWD (price ÷ EPS = P/E 33.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Delta Electronics Inc (2308)?
The dividend yield of Delta Electronics Inc is 1.1% (payout 37.0%). 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 Delta Electronics Inc (2308)?
The net margin of Delta Electronics Inc is 12.3% (last twelve months). 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 Delta Electronics Inc (2308)?
The return on equity (ROE) of Delta Electronics Inc is 28.5% (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 Delta Electronics Inc (2308)?
On an EBIT basis the return on assets of Delta Electronics Inc is 9.9% (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 Delta Electronics Inc (2308)?
The operating margin of Delta Electronics Inc is 16.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Delta Electronics Inc (2308)?
Revenue at Delta Electronics Inc is growing +31.1% versus a year earlier (3y avg +13.0%). 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 Delta Electronics Inc (2308)?
Earnings per share at Delta Electronics Inc are growing +26.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Delta Electronics Inc (2308) hold?
Delta Electronics Inc holds more cash than debt, 72.4B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 5, 2026