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Gigastorage Corp (2406) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Gigastorage Corp stock TWD 5.24, price TWD 30.10, that is 82.6% below the price, quality 20 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Technology TW · ISIN TW0002406006

GC Gigastorage Corp logo Thin data Nov 5, 2026

Gigastorage Corp

2406 · TW
Very expensive, weak quality

Our calculation puts a fair price 83% below what the stock costs today.

Revenue last quarter +105% vs. a year ago.
Thin margins · 0.7% net margin (TTM)
Moderate debt
Fair value 5.24 TWD · Strongly overvalued
Quality 20/100
Weak Growth (revenue 5y −7.8 %/yr in TWD)
Negative free cash flow
Trails peers (5/13)
Narrow moat 23/100
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

41.80 TWD 9.45 TWD Fair Value 5.24 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range 9.45 TWD – 41.80 TWD · fair‑value band 3.91 TWD – 7.82 TWD · the 30.10 TWD price screens above the 5.24 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 5, 2026.

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Company profile

Gigastorage Corporation operates in the optoelectronics industry in Taiwan, Mainland China, and internationally. The company operates in wire materials division, Photovoltaic Materials Division, and Solar Power Plant Division segments.

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The Silicon Products Division segment produces, processes, and sells solar silicon accessories and wafers; and diamond wires. The Photovoltaic Materials Division segment engages in the research and development, manufacturing, and sale of solar conductive plasma.

The Solar Power Plant Division segment constructs solar power plants; generates solar power; and sells electricity.

It also manufactures and trades energy materials, precision chemical materials, wire materials, lithium battery materials, and thick film materials for passive components; provides lithium-ion battery technology development and consulting services, photovoltaic process testing and technical services, wafer surface treatment, silicon processing, silicon materials for solar energy, OEM business, etc.

In addition, the company engages in solar energy related business and general investment activities.

Further, it manufactures and sells photovoltaic (PV) materials, such as PV ribbons, as well as provides PV systems; provides ground type solar power stations, as well as roof type solar power stations for private houses, public-owned buildings, and factory buildings, as well as cottages; and PCB/BGA milling cutters and drill coating products, such as coated milling cutters and drills.

Additionally, the company develops low-temp die attach, LED insulation die bond, electrical conductivity Ag, and insulation pastes; provides biotech materials comprising blood glucose strip conductive Ag paste and carbon paste. The company was founded in 1997 and is based in Hsinchu City, Taiwan.

Stock analysis

Gigastorage Corp (2406) currently trades at 30.10 TWD, while our model-based Fair Value estimate is 5.24 TWD, 83% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 81/100, which puts the data coverage at low.

Scenario range: 3.91 TWD (bear) to 7.82 TWD (bull), the price of 30.10 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 20/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Gigastorage Corp reported revenue of 6.4B TWD in FY2025 versus 8.3B TWD in FY2021, a compound −6.5%/yr. Reported net income was −322M TWD in FY2025.

Key figures

Market cap 10.7B TWD (≈ $326M) Small · P/E ratio 167.2 · P/S ratio 1.12 · EPS (TTM) 0.1800 TWD · Net margin 0.7% · Return on equity 3.3% · Return on assets (EBIT) −3.5% (5-year average) · Operating margin −0.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (medium confidence).

What moves the price

The share trades about 28% below its 52-week high and 62% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −83%, 2406 screens richer than that median.

Fair Value models

Bear 3.91 TWD Fair Value 5.24 TWD Bull 7.82 TWD
Price 30.10 TWD · Downside -82.6%
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 (0.1544 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.
Best data coverage
NCAV (Graham) 4.60 TWD 6.16 TWD 9.20 TWD 54
All 1 models by family
Asset-Based
NCAV (Graham) 4.60 TWD 6.16 TWD 9.20 TWD 54

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 20/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 8
How much profit the company makes from its sales and capital
Quality Growth 48
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 18
Debt, balance sheet and risk of trouble
Investment 64
Does it invest with discipline instead of growing at any price?
Low Volatility 44
How calm the share price moves, does not count
Price momentum 53
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 68
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 8/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−7.8%
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.
−1.8%
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.
−7.8%
Start year 2020 (pandemic). Over 10 years: −10.2% a year
Revenue growth 23 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.
+5.7%
Profit margin (trend) ⓘ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.
−2.1% (2020) → −7.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

2406 screens overvalued: fair value 83% below the price. Compare with First Solar, Inc →

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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.Solar · 97 stocks

Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 20 · Bottom 25%
Fair Value upside −82.6% · Bottom 25%
Profitability
Return on equity (12 months) 3.3% · Above median
Return on assets −2.0% · Below median
Net margin (12 months) 0.7% · Above median
Operating margin (12 months) −0.2% · Below median
Growth and dividend
Revenue growth (quarter YoY) 105.3% · Top 25%
Balance sheet
Debt / equity 1.26× · Highest 25%

Valuation Multiplesvs Solar median · lower = cheaper

P/E (12 months) 167.2× · Priciest 25%
P/B 3.00× · Pricier than median
P/S (12 months) 1.12× · Cheaper than median
EV/EBITDA 23.5× · Priciest 25%
PEG 0.31× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 4
FUTURE (revenue growth)100 · sector 7
PAST (return on equity)13 · sector 0
HEALTH (low debt)37 · sector 82
DIVIDEND (yield)0 · sector 26

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Solar stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
First Solar, Inc FSLR $201.14 $392.02 +95% vs 2406
Hengdian Group 002056 ¥17.29 ¥31.86 +84% vs 2406
Waaree Energies Limited WAAREEENER ₹2,438 ₹3,613 +48% vs 2406
Jinko Solar Co 688223 ¥4.38 ¥6.49 +48% vs 2406
Nextpower Inc NXT $104.91 $115.40 +10% vs 2406
Premier Energies Limited PREMIERENE ₹890.00 ₹908.90 +2% vs 2406
Tongwei Co 600438 ¥12.25 ¥12.13 −1% vs 2406
Hanwha Solutions Corporation 009830 26,050 KRW 21,850 KRW −16% vs 2406
CSI Solar Co 688472 ¥9.03 ¥5.85 −35% vs 2406
Shanghai Aiko Solar Energy Co 600732 ¥13.40 ¥7.22 −46% vs 2406

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Gigastorage Corp: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Gigastorage Corp Fair Value". https://www.fairvalue-calculator.com/stock/2406

Frequently asked questions

Is Gigastorage Corp (2406) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 5.24 TWD versus a price of 30.10 TWD, about 83% lower (overvalued).
What is the fair value of 2406?
Our model-based fair value for Gigastorage Corp is 5.24 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 30.10 TWD.
What is the quality score of 2406?
Gigastorage Corp has a Quality Score of 20/100. 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 Gigastorage Corp (2406)?
Our model-based price target is the fair value of 5.24 TWD (as of Nov 5, 2026) from 1 valuation models. Cautious scenario 3.91 TWD, optimistic scenario 7.82 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Gigastorage Corp stock forecast for 2026?
Our models put fair value at 5.24 TWD, about 83% lower versus a price of 30.10 TWD (overvalued). Cautious scenario 3.91 TWD, optimistic scenario 7.82 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Gigastorage Corp (2406)?
Gigastorage Corp reported trailing-twelve-month revenue of about 9.5B TWD (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of Gigastorage Corp (2406)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gigastorage Corp it is 5.24 TWD per share (as of Nov 5, 2026), against a price of 30.10 TWD. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Gigastorage Corp stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 2406 trades above its calculated fair value: price 30.10 TWD, fair value 5.24 TWD, a gap of about −83% (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 2406?
No. The price is what the market pays today (30.10 TWD); the fair value is what the company's own numbers justify (5.24 TWD). For Gigastorage Corp the two are 24.86 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Gigastorage Corp worth?
The market values Gigastorage Corp at about 10.7B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 30.10 TWD; our models calculate a fair value of 5.24 TWD per share.
What do the bullish and bearish scenarios say about 2406?
Our models span a range for Gigastorage Corp: cautious scenario 3.91 TWD, base 5.24 TWD, optimistic 7.82 TWD per share (as of Nov 5, 2026, price 30.10 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2406?
Gigastorage Corp trades at a price-to-earnings ratio of 167.2 (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 5.24 TWD is built from several models across several years. Other multiples: PEG 0.3, P/B 3.0, P/S 1.1, EV/EBITDA 23.5.
What is the PEG ratio of 2406?
The PEG ratio of Gigastorage Corp is 0.31 (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 Gigastorage Corp (2406)?
Balance-sheet figures for Gigastorage Corp (as of Nov 5, 2026): return on equity 3.3%, debt of 1.26 per unit of equity. They feed the Quality Score of 20/100, which measures business quality independently of the share price.
How far is 2406 from its 52-week high?
Gigastorage Corp trades at 30.10 TWD, about 28% below its 52-week high of 41.80 TWD and 62% above the low of 18.55 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 5.24 TWD is for.
Which stocks are comparable to Gigastorage Corp?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, 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 Gigastorage Corp stock attractive at the current price?
The data as of Nov 5, 2026: price 30.10 TWD, calculated fair value 5.24 TWD (−83%), Quality Score 20/100, from 1 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 2406 calculated?
We run Gigastorage Corp through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 5.24 TWD builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Gigastorage Corp 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 Gigastorage Corp (2406)?
The closing price on Nov 9, 2026 was 30.10 TWD. Our model-based fair value is 5.24 TWD, about 83% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gigastorage Corp right now?
The price sits above even our optimistic bull case (7.82 TWD). The favourable scenario is already priced in. Weak quality (20/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (3.91 TWD to 7.82 TWD) leaves room in how you read the outcome.

Key figures of Gigastorage Corp

How large is the market capitalisation of Gigastorage Corp (2406)?
The market capitalisation of Gigastorage Corp is 10.7B TWD (≈ $326M). 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 Gigastorage Corp (2406)?
The price-to-sales ratio of Gigastorage Corp is 1.12 (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 Gigastorage Corp (2406)?
Earnings per share at Gigastorage Corp are 0.1800 TWD (price ÷ EPS = P/E 167.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Gigastorage Corp (2406)?
The net margin of Gigastorage Corp is 0.7% (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 Gigastorage Corp (2406)?
The return on equity (ROE) of Gigastorage Corp is 3.3% (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 Gigastorage Corp (2406)?
On an EBIT basis the return on assets of Gigastorage Corp is −3.5% (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 Gigastorage Corp (2406)?
The operating margin of Gigastorage Corp is −0.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gigastorage Corp (2406)?
Revenue at Gigastorage Corp is growing +105% versus a year earlier (3y avg −1.8%). 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 Gigastorage Corp (2406)?
Earnings per share at Gigastorage Corp are growing −97.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Gigastorage Corp (2406) generate?
The free cash flow of Gigastorage Corp is −1.2B 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 Gigastorage Corp (2406) carry?
The net debt of Gigastorage Corp is 5.4B 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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