King Yuan Electronics Co Ltd (2449) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of King Yuan Electronics Co Ltd stock TWD 63.77, price TWD 249, that is 74.3% below the price, quality 56 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 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 1, 2026.
How to read this chart
60‑month range 26.30 TWD – 354.00 TWD · fair‑value band 49.90 TWD – 99.94 TWD · the 248.50 TWD price screens above the 63.77 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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King Yuan Electronics Co., Ltd. designs, manufactures, sells, tests, and assembles integrated circuits. It offers test services, such as wafer probing; final test; burn-in; system level testing; and back end service.
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It also provides Technology Innovation, including wafer level chip scale package (WLCSP); high power burn in; and KYEC Bio Chip Testing, as well as equipment development, spare parts and test program, automation control, and vertical card.
It also provides engineering services for Memory applications; consumer electronics testing solutions for games, digital audio, digital TV, set top box, and others; logic and mixed signal IC testing services; liquid crystal display driver test solutions for TFT LCD, Gate Drivers, STN segment/common drivers, LCD controllers/drivers and OLED controllers/drivers; and pupil module solution, CSP FT test solution, high parallelism test solution for area image sensor, low temperature test solution, and light sensor test solutions.
In addition, the company offers radio system integration, feasibility studies for cost and performance, circuit design and characterization, evaluation board design service, process definition services; testing, diagnosis, verification, characterization, and debugging services for SOC devices, such as ASIC and ASSP; micro-electro mechanical systems and biochip testing solutions; and technology support services.
The company was incorporated in 1987 and is headquartered in Hsinchu City, Taiwan.
Stock analysis
King Yuan Electronics Co Ltd (2449) currently trades at 248.50 TWD, while our model-based Fair Value estimate is 63.77 TWD, 74% 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 209.82 TWD per share, and 0 of the 16 models we run sit above the 248.50 TWD price.
Bear case: the Asset-Based group reads lowest at 26.31 TWD, and 16 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: 49.90 TWD (bear) to 99.94 TWD (bull), the price of 248.50 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 56/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
King Yuan Electronics Co Ltd reported revenue of 34.9B TWD in FY2025 versus 33.8B TWD in FY2021, a compound +0.9%/yr. Reported net income was 11.1B TWD in FY2025, compounding +20.9%/yr from FY2021.
Key figures
Market cap 319B TWD (≈ $9.7B) Mid · P/E ratio 34.3 · P/S ratio 7.85 · EPS (TTM) 7.24 TWD · Dividend yield 0.4% · Net margin 23.0% · Return on equity 17.5% · Return on assets (EBIT) 9.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 74 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 26% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 0% fair-value upside, at −74%, 2449 screens richer than that median.
Fair Value models
Bear49.90 TWDFair Value 63.77 TWDBull99.94 TWD
Price 248.50 TWD · Downside -74.3%
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 (5.34 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.38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+30.1%
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.
−1.7%
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.
+3.8%
Start year 2020 (pandemic). Over 10 years: +7.4% a year
Revenue growth 24 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.
+9.6%
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What shareholders gained per year (last 5 years), in TWD ⓘ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. Basis: EBIT basis. 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.
≈ +13.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.0%
Dividend (yield on the price)0.4%
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.25.1% vs 15.5%, 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.17% → 26%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 64% above its own trend.
News mood ⓘNews mood, the average tone of recent news (22 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.Very negative
AI conclusion: The business gains strength from deepened Nvidia ties in AI and high-performance computing testing, yet faces weakness from negative free cash flow and debt pressures amid large spending.
Main risk: The large capital outlay for the US testing facility risks pressuring the company's margins and cash flows during the build-out phase.
King Yuan Electronics is pouring capital into a large US testing facility to lock in capacity for Nvidia's advanced chips. The move strengthens its role in AI and high-performance computing testing but adds heavy upfront spending that could pressure margins and cash flow in the coming quarters. Our models see the shares as overvalued. Will the deepened customer ties ultimately justify the scale of the overseas build-out or create ongoing execution drag?
Compare King Yuan Electronics Co Ltd with another stock
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.Semiconductors · 371 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−74.3% · Bottom 25%
Profitability
Return on equity (12 months)17.5% · Above median
Return on assets10.9% · Top 25%
Net margin (12 months)23.0% · Top 25%
Operating margin (12 months)25.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)33.2% · Above median
Dividend yield (12 months)0.4% · Bottom 25%
Balance sheet
Debt / equity0.60× · Highest 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (12 months)34.3× · Pricier than median
P/B6.32× · Priciest 25%
P/S (12 months)7.85× · Pricier than median
EV/EBITDA16.9× · Cheaper than median
PEG0.84× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 100
PAST (return on equity)70· sector 28
HEALTH (low debt)70· sector 96
DIVIDEND (yield)8· sector 20
VALUE 0: the price sits above our fair-value range.
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.
Cite: Fair Value Calculator (2026). "King Yuan Electronics Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2449
Frequently asked questions
Is King Yuan Electronics Co Ltd (2449) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of 63.77 TWD versus a price of 248.50 TWD, about 74% lower (overvalued).
What is the fair value of 2449?
Our model-based fair value for King Yuan Electronics Co Ltd is 63.77 TWD (as of Nov 1, 2026), built from audited fundamentals. The current price: 248.50 TWD.
What is the quality score of 2449?
King Yuan Electronics Co Ltd has a Quality Score of 56/100. 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 King Yuan Electronics Co Ltd (2449)?
Our model-based price target is the fair value of 63.77 TWD (as of Nov 1, 2026) from 16 valuation models. Cautious scenario 49.90 TWD, optimistic scenario 99.94 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the King Yuan Electronics Co Ltd stock forecast for 2026?
Our models put fair value at 63.77 TWD, about 74% lower versus a price of 248.50 TWD (overvalued). Cautious scenario 49.90 TWD, optimistic scenario 99.94 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of King Yuan Electronics Co Ltd (2449)?
King Yuan Electronics Co Ltd reported trailing-twelve-month revenue of about 40.6B TWD (latest available figure, as of Nov 1, 2026).
Does King Yuan Electronics Co Ltd pay a dividend?
King Yuan Electronics Co Ltd currently shows a dividend yield of 0.38% relative to its recent price (as of Nov 1, 2026).
What is the intrinsic value of King Yuan Electronics Co Ltd (2449)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For King Yuan Electronics Co Ltd it is 63.77 TWD per share (as of Nov 1, 2026), against a price of 248.50 TWD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is King Yuan Electronics Co Ltd stock overvalued or undervalued in 2026?
As of Nov 1, 2026, 2449 trades above its calculated fair value: price 248.50 TWD, fair value 63.77 TWD, a gap of about −74% (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 2449?
No. The price is what the market pays today (248.50 TWD); the fair value is what the company's own numbers justify (63.77 TWD). For King Yuan Electronics Co Ltd the two are 184.73 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is King Yuan Electronics Co Ltd worth?
The market values King Yuan Electronics Co Ltd at about 319B TWD (market capitalisation, as of Nov 1, 2026). Per share that is 248.50 TWD; our models calculate a fair value of 63.77 TWD per share.
What do the bullish and bearish scenarios say about 2449?
Our models span a range for King Yuan Electronics Co Ltd: cautious scenario 49.90 TWD, base 63.77 TWD, optimistic 99.94 TWD per share (as of Nov 1, 2026, price 248.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2449?
King Yuan Electronics Co Ltd trades at a price-to-earnings ratio of 34.3 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 63.77 TWD is built from several models across several years. Other multiples: PEG 0.8, P/B 6.3, P/S 7.9, EV/EBITDA 16.9.
What is the PEG ratio of 2449?
The PEG ratio of King Yuan Electronics Co Ltd is 0.84 (P/E divided by earnings growth, as of Nov 1, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of King Yuan Electronics Co Ltd (2449)?
Balance-sheet figures for King Yuan Electronics Co Ltd (as of Nov 1, 2026): return on equity 17.5%, debt of 0.60 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 2449 from its 52-week high?
King Yuan Electronics Co Ltd trades at 248.50 TWD, about 30% below its 52-week high of 354.00 TWD and 26% above the low of 196.50 TWD (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of 63.77 TWD is for.
Which stocks are comparable to King Yuan Electronics Co Ltd?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, 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 King Yuan Electronics Co Ltd stock attractive at the current price?
The data as of Nov 1, 2026: price 248.50 TWD, calculated fair value 63.77 TWD (−74%), Quality Score 56/100, from 16 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 2449 calculated?
We run King Yuan Electronics Co Ltd through 16 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 63.77 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. King Yuan Electronics Co Ltd 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 King Yuan Electronics Co Ltd (2449)?
The closing price on Nov 4, 2026 was 248.50 TWD. Our model-based fair value is 63.77 TWD, about 74% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with King Yuan Electronics Co Ltd right now?
The price sits above even our optimistic bull case (99.94 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (49.90 TWD to 99.94 TWD) leaves room in how you read the outcome.
Where does the earnings growth of King Yuan Electronics Co Ltd (2449) come from?
Earnings per share at King Yuan Electronics Co Ltd grew +13.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.3 %, EBIT margin +3.5 %, tax rate +0.3 %, residual (interest, one-offs) +2.8 %. 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 King Yuan Electronics Co Ltd
How large is the market capitalisation of King Yuan Electronics Co Ltd (2449)?
The market capitalisation of King Yuan Electronics Co Ltd is 319B TWD (≈ $9.7B). 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 King Yuan Electronics Co Ltd (2449)?
The price-to-sales ratio of King Yuan Electronics Co Ltd is 7.85 (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 King Yuan Electronics Co Ltd (2449)?
Earnings per share at King Yuan Electronics Co Ltd are 7.24 TWD (price ÷ EPS = P/E 34.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of King Yuan Electronics Co Ltd (2449)?
The dividend yield of King Yuan Electronics Co Ltd is 0.4% (payout 13.1%). 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 King Yuan Electronics Co Ltd (2449)?
The net margin of King Yuan Electronics Co Ltd is 23.0% (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 King Yuan Electronics Co Ltd (2449)?
The return on equity (ROE) of King Yuan Electronics Co Ltd is 17.5% (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 King Yuan Electronics Co Ltd (2449)?
On an EBIT basis the return on assets of King Yuan Electronics Co Ltd is 9.8% (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 King Yuan Electronics Co Ltd (2449)?
The operating margin of King Yuan Electronics Co Ltd is 25.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at King Yuan Electronics Co Ltd (2449)?
Revenue at King Yuan Electronics Co Ltd is growing +33.2% versus a year earlier (3y avg −1.7%). 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 King Yuan Electronics Co Ltd (2449)?
Earnings per share at King Yuan Electronics Co Ltd are growing +15.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does King Yuan Electronics Co Ltd (2449) generate?
The free cash flow of King Yuan Electronics Co Ltd is −19.2B TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does King Yuan Electronics Co Ltd (2449) carry?
The net debt of King Yuan Electronics Co Ltd is 15.2B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 1, 2026