ASRock Inc (3515) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of ASRock Inc stock TWD 250, price TWD 200, upside +25.0%, quality 52 out of 100. Rating: undervalued. Calculated from audited financials with 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 6, 2026.
How to read this chart
60‑month range 80.04 TWD – 337.50 TWD · fair‑value band 140.62 TWD – 398.03 TWD · the 200.00 TWD price screens below the 249.90 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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ASROCK Incorporation designs, develops, and sells motherboards in Asia, Europe, America, and internationally.
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The company also offers graphic cards, gaming monitors, power supply, servers/WS, and mini and industrial PCs. In addition, it engages in the service of computer software; and rental of office buildings. ASROCK Incorporation was founded in 2002 and is headquartered in Taipei, Taiwan.
Stock analysis
ASRock Inc (3515) currently trades at 200.00 TWD, while our model-based Fair Value estimate is 249.90 TWD, implying the stock looks roughly 20% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 385.68 TWD per share, and 17 of the 26 models we run sit above the 200.00 TWD price.
Bear case: the Dividend Discount group reads lowest at 61.69 TWD, and 9 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 140.62 TWD (bear) to 398.03 TWD (bull), the price of 200.00 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 52/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
ASRock Inc reported revenue of 47.8B TWD in FY2025 versus 19.8B TWD in FY2021, a compound +24.7%/yr. Reported net income was 1.9B TWD in FY2025, compounding −5.6%/yr from FY2021.
Key figures
Market cap 53.9B TWD (≈ $1.6B) Small · P/E ratio 13.1 · P/S ratio 0.51 · EPS (TTM) 15.30 TWD · Dividend yield 5.5% · Net margin 3.9% · Return on equity 23.3% · Return on assets (EBIT) 11.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at 25%, 3515 screens cheaper than that median.
Fair Value models
Bear140.62 TWDFair Value 249.90 TWDBull398.03 TWD
Price 200.00 TWD · Upside +25.0%
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 (3.68 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
FCF DCF108.19 TWD153.90 TWD232.47 TWD77
Residual Income88.64 TWD105.38 TWD143.01 TWD76
Growth DCF106.07 TWD146.39 TWD202.97 TWD75
All 26 models by family
DCF Models
FCF DCF108.19 TWD153.90 TWD232.47 TWD77
Owner Earnings108.86 TWD158.27 TWD234.34 TWD73
5Y Revenue Exit162.83 TWD281.28 TWD450.28 TWD67
5Y EBITDA Exit209.80 TWD383.10 TWD612.19 TWD70
5Y P/E Exit245.09 TWD459.61 TWD719.15 TWD66
10Y Revenue Exit134.08 TWD228.73 TWD387.52 TWD61
10Y EBITDA Exit165.43 TWD294.00 TWD508.45 TWD63
10Y P/E Exit185.77 TWD343.04 TWD588.34 TWD59
Earnings-Based
Graham-Dodd103.92 TWD571.41 TWD792.82 TWD63
Lynch FV159.07 TWD227.25 TWD295.42 TWD61
PEG = 1.0159.07 TWD227.25 TWD295.42 TWD57
EPV143.82 TWD156.20 TWD166.23 TWD69
Dividend Discount
Gordon GGM37.97 TWD63.23 TWD81.72 TWD68
DDM Multi-Stage37.97 TWD60.15 TWD68.06 TWD67
Multiples
P/E Multiple320.93 TWD427.91 TWD534.88 TWD63
P/S Multiple194.85 TWD259.80 TWD324.75 TWD57
P/B Multiple177.77 TWD237.03 TWD296.28 TWD55
EV/EBIT358.67 TWD465.19 TWD571.72 TWD62
EV/EBITDA296.59 TWD382.43 TWD468.27 TWD64
EV/Revenue200.65 TWD269.89 TWD339.13 TWD51
Asset-Based
NCAV (Graham)55.48 TWD84.06 TWD105.08 TWD52
Growth DCF
Growth DCF106.07 TWD146.39 TWD202.97 TWD75
Rev-Margin DCF162.83 TWD275.59 TWD429.49 TWD68
Economic Profit
Residual Income88.64 TWD105.38 TWD143.01 TWD76
ROIC Compounder155.87 TWD185.45 TWD220.30 TWD70
Growth Earnings
Growth-Adj P/E269.98 TWD385.68 TWD501.39 TWD67
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+86.5%
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.
+40.8%
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.
+21.7%
Start year 2020 (pandemic). Over 10 years: +20.8% a year
Revenue growth 19 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.
+6.8%
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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.
+7.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.7%
Dividend (yield on the price)5.5%
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.base effect: 1.7% / 19.4%
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.10% → 6%
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).
+32.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +30.0% 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.Computer Hardware · 213 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside+25.0% · Above median
Profitability
Return on equity (12 months)23.3% · Top 25%
Return on assets7.0% · Top 25%
Net margin (12 months)3.9% · Below median
Operating margin (12 months)9.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)−15.9% · Bottom 25%
Dividend yield (12 months)5.5% · Top 25%
Valuation Multiplesvs Computer Hardware median · lower = cheaper
P/E (12 months)13.1× · Cheaper than median
P/B4.49× · Priciest 25%
P/S (12 months)1.10× · Cheaper than median
Price / free cash flow (fiscal year)50.4× · Pricier than median
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). "ASRock Inc Fair Value". https://www.fairvalue-calculator.com/stock/3515
Frequently asked questions
Is ASRock Inc (3515) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 249.90 TWD versus a price of 200.00 TWD, about +25% upside (undervalued).
What is the fair value of 3515?
Our model-based fair value for ASRock Inc is 249.90 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 200.00 TWD.
What is the quality score of 3515?
ASRock Inc has a Quality Score of 52/100. 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 ASRock Inc (3515)?
Our model-based price target is the fair value of 249.90 TWD (as of Nov 6, 2026) from 26 valuation models. Cautious scenario 140.62 TWD, optimistic scenario 398.03 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the ASRock Inc stock forecast for 2026?
Our models put fair value at 249.90 TWD, about +25% upside versus a price of 200.00 TWD (undervalued). Cautious scenario 140.62 TWD, optimistic scenario 398.03 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of ASRock Inc (3515)?
ASRock Inc reported trailing-twelve-month revenue of about 48.8B TWD (latest available figure, as of Nov 6, 2026).
Does ASRock Inc pay a dividend?
ASRock Inc currently shows a dividend yield of 5.50% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of ASRock Inc (3515) and when is the ex-dividend date?
ASRock Inc pays a dividend of 11.00 TWD per share a year, a dividend yield of 5.5%. The last ex-dividend date was Jul 1, 2026. The payout ratio is 71.9% of earnings. Free cash flow covers the dividend 0.79 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 ASRock Inc (3515)?
For today's price to be fair in a discounted-cash-flow model, ASRock Inc would have to grow free cash flow by +32.0 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +21.7 % per year. Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 3515 use?
Our models discount ASRock Inc at 12.6 %: a base by market capitalisation (small), damped by beta 1.29, 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 ASRock Inc that is +32.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has ASRock Inc (3515) delivered so far?
Over the past 5 years revenue at ASRock Inc grew +21.7 % a year. The price currently implies free-cash-flow growth of +32.0 % 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 ASRock Inc (3515) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into ASRock Inc (+32.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ASRock Inc (3515)?
The free-cash-flow yield on the price is 1.99 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow ASRock Inc produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ASRock Inc (3515)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ASRock Inc it is 249.90 TWD per share (as of Nov 6, 2026), against a price of 200.00 TWD. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is ASRock Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 3515 trades below its calculated fair value: price 200.00 TWD, fair value 249.90 TWD, a gap of about +25% (undervalued). 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 3515?
No. The price is what the market pays today (200.00 TWD); the fair value is what the company's own numbers justify (249.90 TWD). For ASRock Inc the two are 49.90 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is ASRock Inc worth?
The market values ASRock Inc at about 53.9B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 200.00 TWD; our models calculate a fair value of 249.90 TWD per share.
What do the bullish and bearish scenarios say about 3515?
Our models span a range for ASRock Inc: cautious scenario 140.62 TWD, base 249.90 TWD, optimistic 398.03 TWD per share (as of Nov 6, 2026, price 200.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3515?
ASRock Inc trades at a price-to-earnings ratio of 13.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 249.90 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 16.8. Other multiples: P/B 4.5, P/S 1.1, EV/EBITDA 14.0.
How solid is the balance sheet of ASRock Inc (3515)?
Balance-sheet figures for ASRock Inc (as of Nov 6, 2026): return on equity 23.3%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 3515 from its 52-week high?
ASRock Inc trades at 200.00 TWD, about 38% below its 52-week high of 322.00 TWD and 6% above the low of 189.50 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 249.90 TWD is for.
Which stocks are comparable to ASRock Inc?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Sandisk Corporation, Seagate Technology Holdings, 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 ASRock Inc stock attractive at the current price?
The data as of Nov 6, 2026: price 200.00 TWD, calculated fair value 249.90 TWD (+25%), Quality Score 52/100, 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 3515 calculated?
We run ASRock Inc through 26 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 249.90 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 13.0% above its aggregate fair value. ASRock Inc currently trades 20% below its own fair value, and the market average says nothing about that. 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 ASRock Inc (3515)?
The closing price on Nov 6, 2026 was 200.00 TWD. Our model-based fair value is 249.90 TWD, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ASRock Inc right now?
The model range is unusually wide (140.62 TWD to 398.03 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of ASRock Inc (3515) come from?
Earnings per share at ASRock Inc grew +16.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +14.8 %, EBIT margin +2.5 %, tax rate +0.4 %, residual (interest, one-offs) −1.4 %. 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 ASRock Inc
How large is the market capitalisation of ASRock Inc (3515)?
The market capitalisation of ASRock Inc is 53.9B TWD (≈ $1.6B). 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 ASRock Inc (3515)?
The price-to-sales ratio of ASRock Inc is 0.51 (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 ASRock Inc (3515)?
Earnings per share at ASRock Inc are 15.30 TWD (price ÷ EPS = P/E 13.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ASRock Inc (3515)?
The dividend yield of ASRock Inc is 5.5% (payout 71.9%). 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 ASRock Inc (3515)?
The net margin of ASRock Inc is 3.9% (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 ASRock Inc (3515)?
The return on equity (ROE) of ASRock Inc is 23.3% (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 ASRock Inc (3515)?
On an EBIT basis the return on assets of ASRock Inc is 11.1% (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 ASRock Inc (3515)?
The operating margin of ASRock Inc is 9.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ASRock Inc (3515)?
Revenue at ASRock Inc is growing −15.9% versus a year earlier (3y avg +40.8%). 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 ASRock Inc (3515)?
Earnings per share at ASRock Inc are growing −11.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does ASRock Inc (3515) hold?
ASRock Inc holds more cash than debt, 6.0B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 6, 2026