Arbor Technology (3594) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Arbor Technology stock TWD 10.25, price TWD 38.45, that is 73.3% below the price, quality 44 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 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 6, 2026.
How to read this chart
60‑month range 21.33 TWD – 65.00 TWD · fair‑value band 6.76 TWD – 12.81 TWD · the 38.45 TWD price screens above the 10.25 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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ARBOR Technology Corp. provides industrial IoT computing and mobility solutions in Taiwan, Mainland China, Korea, Europe, the United States, and internationally.
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The company offers industrial computers comprising embedded and transportation system, digital signage player, IoT devices, intelligent power system, remote I/O, and accessories; embedded computing products, including computer on modules, PC/104 and PC/104+, single board computers, slot computing, industrial motherboards, semi industrial motherboards, chassis/backplane/power supply products, and accessories; and box system products.
It also provides rugged mobile computing products, such as rugged mobile devices, rugged tablet with android, and rugged tablet with windows; panel PC and HMI; and industrial display system.
It offers solutions for healthcare, logistics, transportation, industrial automation, industrial safety, edge AI computing, automation controllers, HMI, and retail sectors. The company has a collaboration with DeepX and MemryX for the development of an AI-powered baggage monitoring solution.
ARBOR Technology Corp. was incorporated in 1993 and is headquartered in New Taipei City, Taiwan.
Stock analysis
Arbor Technology (3594) currently trades at 38.45 TWD, while our model-based Fair Value estimate is 10.25 TWD, 73% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 13.10 TWD per share, and 0 of the 16 models we run sit above the 38.45 TWD price.
Bear case: the Earnings-Based group reads lowest at 7.22 TWD, and 16 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 6.76 TWD (bear) to 12.81 TWD (bull), the price of 38.45 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 44/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Arbor Technology reported revenue of 2.0B TWD in FY2025 versus 1.5B TWD in FY2021, a compound +7.6%/yr. Reported net income was 46.7M TWD in FY2025, compounding +20.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 3.7B TWD (≈ $114M) Micro · P/E ratio 30.3 · P/S ratio 1.57 · EPS (TTM) 1.27 TWD · Dividend yield 1.0% · Net margin 5.3% · Return on equity 5.5% · Return on assets (EBIT) 3.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades about 36% below its 52-week high and 8% 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 −73%, 3594 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (0.5800 TWD to 37.75 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear6.76 TWDFair Value 10.25 TWDBull12.81 TWD
Price 38.45 TWD · Downside -73.3%
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 (0.7461 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.39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+29.3%
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.
+4.0%
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.
+6.0%
Start year 2020 (pandemic)
Revenue growth 8 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.
+3.6%
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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. 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.
≈ +11.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +10.3%
Dividend (yield on the price)1.0%
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.3% → 5%
⚠ Revenue per share shrinking 4.7%/yr over ~6Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.30 per share, median 1.30 in 2017 to 2018). It measures the recovery from the trough, not lasting growth.
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 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score44 · Bottom 25%
Fair Value upside−73.3% · Bottom 25%
Profitability
Return on equity (12 months)5.5% · Below median
Return on assets0.9% · Below median
Net margin (12 months)5.3% · Above median
Operating margin (12 months)5.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)45.8% · Top 25%
Dividend yield (12 months)1.0% · Below median
Balance sheet
Debt / equity0.17× · Above median
Valuation Multiplesvs Computer Hardware median · lower = cheaper
P/E (12 months)30.3× · Pricier than median
P/B1.66× · Cheaper than median
P/S (12 months)1.57× · Pricier than median
EV/EBITDA25.6× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 8
FUTURE (revenue growth)100· sector 84
PAST (return on equity)22· sector 33
HEALTH (low debt)92· sector 97
DIVIDEND (yield)21· sector 50
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). "Arbor Technology Fair Value". https://www.fairvalue-calculator.com/stock/3594
Frequently asked questions
Is Arbor Technology (3594) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 10.25 TWD versus a price of 38.45 TWD, about 73% lower (overvalued).
What is the fair value of 3594?
Our model-based fair value for Arbor Technology is 10.25 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 38.45 TWD.
What is the quality score of 3594?
Arbor Technology has a Quality Score of 44/100. 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 Arbor Technology (3594)?
Our model-based price target is the fair value of 10.25 TWD (as of Nov 6, 2026) from 16 valuation models. Cautious scenario 6.76 TWD, optimistic scenario 12.81 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Arbor Technology stock forecast for 2026?
Our models put fair value at 10.25 TWD, about 73% lower versus a price of 38.45 TWD (overvalued). Cautious scenario 6.76 TWD, optimistic scenario 12.81 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Arbor Technology (3594)?
Arbor Technology reported trailing-twelve-month revenue of about 2.4B TWD (latest available figure, as of Nov 6, 2026).
Does Arbor Technology pay a dividend?
Arbor Technology currently shows a dividend yield of 1.04% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Arbor Technology (3594) and when is the ex-dividend date?
Arbor Technology pays a dividend of 0.4 TWD per share a year, a dividend yield of 1.0%. The last ex-dividend date was Aug 25, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 31.5% of earnings. 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 is the intrinsic value of Arbor Technology (3594)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arbor Technology it is 10.25 TWD per share (as of Nov 6, 2026), against a price of 38.45 TWD. It is the blended result of 16 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Arbor Technology stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 3594 trades above its calculated fair value: price 38.45 TWD, fair value 10.25 TWD, a gap of about −73% (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 3594?
No. The price is what the market pays today (38.45 TWD); the fair value is what the company's own numbers justify (10.25 TWD). For Arbor Technology the two are 28.20 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Arbor Technology worth?
The market values Arbor Technology at about 3.7B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 38.45 TWD; our models calculate a fair value of 10.25 TWD per share.
What do the bullish and bearish scenarios say about 3594?
Our models span a range for Arbor Technology: cautious scenario 6.76 TWD, base 10.25 TWD, optimistic 12.81 TWD per share (as of Nov 6, 2026, price 38.45 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3594?
Arbor Technology trades at a price-to-earnings ratio of 30.3 (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 10.25 TWD is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 39.6. Other multiples: P/B 1.7, P/S 1.6, EV/EBITDA 25.6.
How solid is the balance sheet of Arbor Technology (3594)?
Balance-sheet figures for Arbor Technology (as of Nov 6, 2026): return on equity 5.5%, debt of 0.17 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 3594 from its 52-week high?
Arbor Technology trades at 38.45 TWD, about 36% below its 52-week high of 60.00 TWD and 8% above the low of 35.50 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 10.25 TWD is for.
Which stocks are comparable to Arbor Technology?
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 Arbor Technology stock attractive at the current price?
The data as of Nov 6, 2026: price 38.45 TWD, calculated fair value 10.25 TWD (−73%), Quality Score 44/100, 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 3594 calculated?
We run Arbor Technology through 16 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 10.25 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 13.3% above its aggregate fair value. Arbor Technology 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 Arbor Technology (3594)?
The closing price on Nov 6, 2026 was 38.45 TWD. Our model-based fair value is 10.25 TWD, about 73% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arbor Technology right now?
The price sits above even our optimistic bull case (12.81 TWD). The favourable scenario is already priced in. Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (6.76 TWD to 12.81 TWD) leaves room in how you read the outcome.
Key figures of Arbor Technology
How large is the market capitalisation of Arbor Technology (3594)?
The market capitalisation of Arbor Technology is 3.7B TWD (≈ $114M). 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 Arbor Technology (3594)?
The price-to-sales ratio of Arbor Technology is 1.57 (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 Arbor Technology (3594)?
Earnings per share at Arbor Technology are 1.27 TWD (price ÷ EPS = P/E 30.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Arbor Technology (3594)?
The dividend yield of Arbor Technology is 1.0% (payout 31.5%). 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 Arbor Technology (3594)?
The net margin of Arbor Technology is 5.3% (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 Arbor Technology (3594)?
The return on equity (ROE) of Arbor Technology is 5.5% (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 Arbor Technology (3594)?
On an EBIT basis the return on assets of Arbor Technology 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 Arbor Technology (3594)?
The operating margin of Arbor Technology is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Arbor Technology (3594)?
Revenue at Arbor Technology is growing +45.8% versus a year earlier (3y avg +4.0%). 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 Arbor Technology (3594)?
Earnings per share at Arbor Technology are growing −16.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Arbor Technology (3594) generate?
The free cash flow of Arbor Technology is −167M 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 Arbor Technology (3594) carry?
The net debt of Arbor Technology is 1.3B 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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Nov 6, 2026