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United Renewable Energy Co Ltd (3576) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of United Renewable Energy Co Ltd stock TWD 4.25, price TWD 17.80, that is 76.1% below the price, quality 32 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 TW0003576005

UR United Renewable Energy Co Ltd logo Thin data Nov 5, 2026

United Renewable Energy Co Ltd

3576 · TW
Very expensive, weak quality

Our calculation puts a fair price 76% below what the stock costs today.

Highly profitable · 32.9% net margin (TTM)
Low debt
Mixed Growth (revenue 3y −45.5 %/yr in TWD)
Fair value 4.25 TWD · Strongly overvalued (−76.1%)
Quality 32/100
Negative free cash flow
Trails peers (4/11)
Narrow moat 29/100
Thin data
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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

26.70 TWD 6.00 TWD Fair Value 4.25 TWD May 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 6.00 TWD – 26.70 TWD · fair‑value band 3.17 TWD – 6.35 TWD · the 17.80 TWD price screens above the 4.25 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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Company profile

United Renewable Energy Co., Ltd. engages in the research, design, development, manufacture, and sale of solar cells and related systems, solar power generation modules, and wafers in Taiwan, Europe, the United States, Singapore, and internationally.

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It operates through the Solar Energy and Other segments. The company offers smart optimizers; inverter; solar cell, solar module, and sale and service.

It also engages in solar system business; construction services and energy storage solutions; and offers energy management systems and special project solutions. The company was formerly known as Neo Solar Power Corp.

United Renewable Energy Co., Ltd. was incorporated in 2005 and is headquartered in Hsinchu City, Taiwan.

Stock analysis

United Renewable Energy Co Ltd (3576) currently trades at 17.80 TWD, while our model-based Fair Value estimate is 4.25 TWD, 76% 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 96/100, which puts the data coverage at low.

Scenario range: 3.17 TWD (bear) to 6.35 TWD (bull), the price of 17.80 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 32/100 (below-average quality), in the Technology sector.

Mixed Growth: Spin-off in 2021: revenue and profit before it include the divested business. Growth is measured afresh from 2021.

United Renewable Energy Co Ltd reported revenue of 3.0B TWD in FY2025 versus 14.3B TWD in FY2021, a compound −32.1%/yr. Reported net income was −1.2B TWD in FY2025.

Key figures

Market cap 28.6B TWD (≈ $872M) Small · P/E ratio 33.0 · P/S ratio 10.8 · EPS (TTM) 0.5400 TWD · Net margin 32.9% · Return on equity 7.4% · Return on assets (EBIT) −3.3% (5-year average) · Operating margin −34.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (medium confidence).

What moves the price

The share trades about 33% below its 52-week high and 189% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −76%, 3576 screens richer than that median.

Fair Value models

Bear 3.17 TWD Fair Value 4.25 TWD Bull 6.35 TWD
Price 17.80 TWD · Downside -76.1%
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 (0.4616 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) 3.17 TWD 4.25 TWD 6.35 TWD 54
All 1 models by family
Asset-Based
NCAV (Graham) 3.17 TWD 4.25 TWD 6.35 TWD 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 32/100

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

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 17
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 47
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 45
How calm the share price moves, does not count
Price momentum 70
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 78
Distance to the 52-week high, does not count
New shares 88
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. 55/100
Spin-off in 2021: revenue and profit before it include the divested business. Growth is measured afresh from 2021.
Revenue growth 1 year
−47.3%
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.
−45.5%
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.
−40.8% (2020) → −50.2% (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

3576 screens overvalued: fair value 76% 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 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Below median
Fair Value upside −76.1% · Bottom 25%
Profitability
Return on equity (12 months) 7.4% · Above median
Return on assets −5.2% · Below median
Net margin (12 months) 32.9% · Top 25%
Operating margin (12 months) −34.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 7.6% · Above median
Balance sheet
Debt / equity 0.22× · Below median

Valuation Multiplesvs Solar median · lower = cheaper

P/E (12 months) 33.0× · Pricier than median
P/B 2.75× · Pricier than median
P/S (12 months) 10.82× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 4
FUTURE (revenue growth)38 · sector 7
PAST (return on equity)29 · sector 0
HEALTH (low debt)89 · 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 3576
Hengdian Group 002056 ¥17.29 ¥31.86 +84% vs 3576
Waaree Energies Limited WAAREEENER ₹2,438 ₹3,613 +48% vs 3576
Jinko Solar Co 688223 ¥4.38 ¥6.49 +48% vs 3576
Nextpower Inc NXT $104.91 $115.40 +10% vs 3576
Premier Energies Limited PREMIERENE ₹890.00 ₹908.90 +2% vs 3576
Tongwei Co 600438 ¥12.25 ¥12.13 −1% vs 3576
Hanwha Solutions Corporation 009830 26,050 KRW 21,850 KRW −16% vs 3576
CSI Solar Co 688472 ¥9.03 ¥5.85 −35% vs 3576
Shanghai Aiko Solar Energy Co 600732 ¥13.40 ¥7.22 −46% vs 3576

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United Renewable Energy Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "United Renewable Energy Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3576

Frequently asked questions

Is United Renewable Energy Co Ltd (3576) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 4.25 TWD versus a price of 17.80 TWD, about 76% lower (overvalued).
What is the fair value of 3576?
Our model-based fair value for United Renewable Energy Co Ltd is 4.25 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 17.80 TWD.
What is the quality score of 3576?
United Renewable Energy Co Ltd has a Quality Score of 32/100. 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 United Renewable Energy Co Ltd (3576)?
Our model-based price target is the fair value of 4.25 TWD (as of Nov 5, 2026) from 1 valuation models. Cautious scenario 3.17 TWD, optimistic scenario 6.35 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the United Renewable Energy Co Ltd stock forecast for 2026?
Our models put fair value at 4.25 TWD, about 76% lower versus a price of 17.80 TWD (overvalued). Cautious scenario 3.17 TWD, optimistic scenario 6.35 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of United Renewable Energy Co Ltd (3576)?
United Renewable Energy Co Ltd reported trailing-twelve-month revenue of about 2.6B TWD (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of United Renewable Energy Co Ltd (3576)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For United Renewable Energy Co Ltd it is 4.25 TWD per share (as of Nov 5, 2026), against a price of 17.80 TWD. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is United Renewable Energy Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 3576 trades above its calculated fair value: price 17.80 TWD, fair value 4.25 TWD, a gap of about −76% (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 3576?
No. The price is what the market pays today (17.80 TWD); the fair value is what the company's own numbers justify (4.25 TWD). For United Renewable Energy Co Ltd the two are 13.55 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is United Renewable Energy Co Ltd worth?
The market values United Renewable Energy Co Ltd at about 28.6B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 17.80 TWD; our models calculate a fair value of 4.25 TWD per share.
What do the bullish and bearish scenarios say about 3576?
Our models span a range for United Renewable Energy Co Ltd: cautious scenario 3.17 TWD, base 4.25 TWD, optimistic 6.35 TWD per share (as of Nov 5, 2026, price 17.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3576?
United Renewable Energy Co Ltd trades at a price-to-earnings ratio of 33.0 (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 4.25 TWD is built from several models across several years. Other multiples: P/B 2.8, P/S 10.8.
How solid is the balance sheet of United Renewable Energy Co Ltd (3576)?
Balance-sheet figures for United Renewable Energy Co Ltd (as of Nov 5, 2026): return on equity 7.4%, debt of 0.22 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 3576 from its 52-week high?
United Renewable Energy Co Ltd trades at 17.80 TWD, about 33% below its 52-week high of 26.70 TWD and 189% above the low of 6.16 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 4.25 TWD is for.
Which stocks are comparable to United Renewable Energy Co Ltd?
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 United Renewable Energy Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 17.80 TWD, calculated fair value 4.25 TWD (−76%), Quality Score 32/100, 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 3576 calculated?
We run United Renewable Energy Co Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 4.25 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. United Renewable Energy 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 United Renewable Energy Co Ltd (3576)?
The closing price on Nov 6, 2026 was 17.80 TWD. Our model-based fair value is 4.25 TWD, about 76% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with United Renewable Energy Co Ltd right now?
The price sits above even our optimistic bull case (6.35 TWD). The favourable scenario is already priced in. Weak quality (32/100) 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 (3.17 TWD to 6.35 TWD) leaves room in how you read the outcome.

Key figures of United Renewable Energy Co Ltd

How large is the market capitalisation of United Renewable Energy Co Ltd (3576)?
The market capitalisation of United Renewable Energy Co Ltd is 28.6B TWD (≈ $872M). 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 United Renewable Energy Co Ltd (3576)?
The price-to-sales ratio of United Renewable Energy Co Ltd is 10.8 (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 United Renewable Energy Co Ltd (3576)?
Earnings per share at United Renewable Energy Co Ltd are 0.5400 TWD (price ÷ EPS = P/E 33.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of United Renewable Energy Co Ltd (3576)?
The net margin of United Renewable Energy Co Ltd is 32.9% (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 United Renewable Energy Co Ltd (3576)?
The return on equity (ROE) of United Renewable Energy Co Ltd is 7.4% (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 United Renewable Energy Co Ltd (3576)?
On an EBIT basis the return on assets of United Renewable Energy Co Ltd is −3.3% (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 United Renewable Energy Co Ltd (3576)?
The operating margin of United Renewable Energy Co Ltd is −34.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at United Renewable Energy Co Ltd (3576)?
Revenue at United Renewable Energy Co Ltd is growing +7.6% versus a year earlier (3y avg −45.5%). 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 United Renewable Energy Co Ltd (3576)?
Earnings per share at United Renewable Energy Co Ltd are growing −92.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does United Renewable Energy Co Ltd (3576) generate?
The free cash flow of United Renewable Energy Co Ltd is −1.5B 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 United Renewable Energy Co Ltd (3576) carry?
The net debt of United Renewable Energy Co Ltd is 6.0B 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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