FSP Technology Inc (3015) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of FSP Technology Inc stock TWD 39.03, price TWD 43.80, that is 10.9% below the price, quality 60 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 31.98 TWD – 74.80 TWD · fair‑value band 29.27 TWD – 44.97 TWD · the 43.80 TWD price screens above the 39.03 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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FSP Technology Inc. engages in manufacture, process, and trade of power supplies and electronic components in Taiwan, China, the United States of America, Germany, and internationally.
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The company's products include adapter; industrial PC, open frame, immersion cooling, medical, panel mount, television, solid-state lighting, and personal computer power supply; battery charger; PV inverter; uninterruptible power system; energy storage system; and display PSU. It also offers PSU plus BBU, and CRPS and M-CRPS. Its products are used in medical, gaming, PD charger, edge computing, smart manufacturing, 5G, smart life, battery charger, networking, and UPS applications.
FSP Technology Inc. was incorporated in 1993 and is based in Taoyuan City, Taiwan.
Stock analysis
FSP Technology Inc (3015) currently trades at 43.80 TWD, while our model-based Fair Value estimate is 39.03 TWD, 11% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 35.93 TWD per share, and 3 of the 24 models we run sit above the 43.80 TWD price.
Bear case: the Earnings-Based group reads lowest at 18.70 TWD, and 21 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 29.27 TWD (bear) to 44.97 TWD (bull), the price of 43.80 TWD sits inside 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 60/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
FSP Technology Inc reported revenue of 13.1B TWD in FY2025 versus 16.7B TWD in FY2021, a compound −5.9%/yr. Reported net income was 348M TWD in FY2025, compounding −17.6%/yr from FY2021.
Key figures
Market cap 8.2B TWD (≈ $250M) Micro · P/E ratio 17.3 · P/S ratio 0.65 · EPS (TTM) 2.53 TWD · Dividend yield 5.0% · Net margin 3.8% · Return on equity 3.6% · Return on assets (EBIT) 2.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −38% fair-value upside, at −11%, 3015 screens cheaper than that median.
Fair Value models
Bear29.27 TWDFair Value 39.03 TWDBull44.97 TWD
Price 43.80 TWD · Downside -10.9%
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 (0.2839 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+12.6%
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.
−4.4%
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.
−2.5%
Start year 2020 (pandemic). Over 10 years: −0.6% 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.
+4.4%
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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. 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.
−7.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.1%
Dividend (yield on the price)5.0%
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.−12.1% vs 0.9%, slowing
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.7% → 1%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+8.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +6.7% a year for the price.
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.Electrical Equipment & Parts · 567 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−10.9% · Above median
Profitability
Return on equity (12 months)3.6% · Below median
Return on assets1.8% · Below median
Net margin (12 months)3.8% · Below median
Operating margin (12 months)0.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−12.2% · Bottom 25%
Dividend yield (12 months)5.0% · Top 25%
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
P/E (12 months)17.3× · Cheaper than median
P/B0.65× · Cheapest 25%
P/S (12 months)0.65× · Cheapest 25%
Price / free cash flow (fiscal year)31.5× · Pricier than median
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Is FSP Technology Inc (3015) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 39.03 TWD versus a price of 43.80 TWD, about 11% lower (overvalued).
What is the fair value of 3015?
Our model-based fair value for FSP Technology Inc is 39.03 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 43.80 TWD.
What is the quality score of 3015?
FSP Technology Inc has a Quality Score of 60/100. 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 FSP Technology Inc (3015)?
Our model-based price target is the fair value of 39.03 TWD (as of Nov 7, 2026) from 24 valuation models. Cautious scenario 29.27 TWD, optimistic scenario 44.97 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the FSP Technology Inc stock forecast for 2026?
Our models put fair value at 39.03 TWD, about 11% lower versus a price of 43.80 TWD (overvalued). Cautious scenario 29.27 TWD, optimistic scenario 44.97 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of FSP Technology Inc (3015)?
FSP Technology Inc reported trailing-twelve-month revenue of about 12.6B TWD (latest available figure, as of Nov 7, 2026).
Does FSP Technology Inc pay a dividend?
FSP Technology Inc currently shows a dividend yield of 5.02% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of FSP Technology Inc (3015) and when is the ex-dividend date?
FSP Technology Inc pays a dividend of 2.20 TWD per share a year, a dividend yield of 5.0%. The last ex-dividend date was Jun 16, 2026. The payout ratio is 87.0% of earnings. Free cash flow covers the dividend 0.63 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into FSP Technology Inc (3015)?
For today's price to be fair in a discounted-cash-flow model, FSP Technology Inc would have to grow free cash flow by +8.4 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.5 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 3015 use?
Our models discount FSP Technology Inc at 11.8 %: a base by market capitalisation (micro), damped by beta 0.26, 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 FSP Technology Inc that is +8.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has FSP Technology Inc (3015) delivered so far?
Over the past 5 years revenue at FSP Technology Inc grew -2.5 % a year. The price currently implies free-cash-flow growth of +8.4 % per 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 FSP Technology Inc (3015) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into FSP Technology Inc (+8.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of FSP Technology Inc (3015)?
The free-cash-flow yield on the price is 3.17 %: that much free cash flow FSP Technology Inc produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of FSP Technology Inc (3015)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FSP Technology Inc it is 39.03 TWD per share (as of Nov 7, 2026), against a price of 43.80 TWD. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is FSP Technology Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 3015 trades above its calculated fair value: price 43.80 TWD, fair value 39.03 TWD, a gap of about −11% (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 3015?
No. The price is what the market pays today (43.80 TWD); the fair value is what the company's own numbers justify (39.03 TWD). For FSP Technology Inc the two are 4.77 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is FSP Technology Inc worth?
The market values FSP Technology Inc at about 8.2B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 43.80 TWD; our models calculate a fair value of 39.03 TWD per share.
What do the bullish and bearish scenarios say about 3015?
Our models span a range for FSP Technology Inc: cautious scenario 29.27 TWD, base 39.03 TWD, optimistic 44.97 TWD per share (as of Nov 7, 2026, price 43.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3015?
FSP Technology Inc trades at a price-to-earnings ratio of 17.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 39.03 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 15.5. Other multiples: P/B 0.7, P/S 0.7, EV/EBITDA 19.8.
How solid is the balance sheet of FSP Technology Inc (3015)?
Balance-sheet figures for FSP Technology Inc (as of Nov 7, 2026): return on equity 3.6%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 3015 from its 52-week high?
FSP Technology Inc trades at 43.80 TWD, about 41% below its 52-week high of 74.80 TWD and 4% above the low of 42.10 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 39.03 TWD is for.
Which stocks are comparable to FSP Technology Inc?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public Company, 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 FSP Technology Inc stock attractive at the current price?
The data as of Nov 7, 2026: price 43.80 TWD, calculated fair value 39.03 TWD (−11%), Quality Score 60/100, from 24 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 3015 calculated?
We run FSP Technology Inc through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 39.03 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. FSP Technology 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 FSP Technology Inc (3015)?
The closing price on Nov 9, 2026 was 43.80 TWD. Our model-based fair value is 39.03 TWD, about 11% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FSP Technology Inc right now?
The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of FSP Technology Inc (3015) come from?
Earnings per share at FSP Technology Inc grew +4.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.9 %, EBIT margin +7.5 %, tax rate +0.6 %, residual (interest, one-offs) −2.9 %. 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 FSP Technology Inc
How large is the market capitalisation of FSP Technology Inc (3015)?
The market capitalisation of FSP Technology Inc is 8.2B TWD (≈ $250M). 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 FSP Technology Inc (3015)?
The price-to-sales ratio of FSP Technology Inc is 0.65 (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 FSP Technology Inc (3015)?
Earnings per share at FSP Technology Inc are 2.53 TWD (price ÷ EPS = P/E 17.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of FSP Technology Inc (3015)?
The dividend yield of FSP Technology Inc is 5.0% (payout 87.0%). 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 FSP Technology Inc (3015)?
The net margin of FSP Technology Inc is 3.8% (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 FSP Technology Inc (3015)?
The return on equity (ROE) of FSP Technology Inc is 3.6% (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 FSP Technology Inc (3015)?
On an EBIT basis the return on assets of FSP Technology Inc is 2.6% (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 FSP Technology Inc (3015)?
The operating margin of FSP Technology Inc is 0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FSP Technology Inc (3015)?
Revenue at FSP Technology Inc is growing −12.2% versus a year earlier (3y avg −4.4%). 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 FSP Technology Inc (3015)?
Earnings per share at FSP Technology Inc are growing +254% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does FSP Technology Inc (3015) hold?
FSP Technology Inc holds more cash than debt, 2.8B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 7, 2026