Ant Precision Industry Co Ltd (3646) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Ant Precision Industry Co Ltd stock TWD 15.82, price TWD 25.10, that is 37.0% below the price, quality 57 out of 100. Rating: strongly 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 4, 2026.
How to read this chart
60‑month range 18.98 TWD – 33.86 TWD · fair‑value band 12.85 TWD – 19.77 TWD · the 25.10 TWD price screens above the 15.82 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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ANT Precision Industry Co., Ltd engages in the manufacture and sell of connectors, wire harnesses, and modules in Taiwan and internationally.
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It offers molds and die precision, and stainless-steel parts; automotive and industrial connectors, and wire harnesses; and modules, such as connectors, cables, PCBAs, housings, and other components.
The company also engages in the precision machining, injection molding, stamping, and assembly and automation services. It serves automotive, industrial, and medical industries. ANT Precision Industry Co., Ltd was founded in 1988 and is headquartered in Taipei, Taiwan.
Stock analysis
Ant Precision Industry Co Ltd (3646) currently trades at 25.10 TWD, while our model-based Fair Value estimate is 15.82 TWD, 37% 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 22.95 TWD per share, and 3 of the 24 models we run sit above the 25.10 TWD price.
Bear case: the Asset-Based group reads lowest at 6.63 TWD, and 21 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 12.85 TWD (bear) to 19.77 TWD (bull), the price of 25.10 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 57/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Ant Precision Industry Co Ltd reported revenue of 668M TWD in FY2025 versus 857M TWD in FY2021, a compound −6.1%/yr. Reported net income was 22.2M TWD in FY2025, compounding −28.6%/yr from FY2021.
Key figures
Market cap 986M TWD (≈ $30.0M) Micro · P/S ratio 1.39 · EPS (TTM) −0.3700 TWD · Dividend yield 3.6% · Net margin −2.0% · Return on equity −3.1% · Return on assets (EBIT) 7.3% (5-year average) · Operating margin 3.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (medium confidence).
What moves the price
The share trades about 11% below its 52-week high and 13% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at −37%, 3646 screens richer than that median.
Fair Value models
Bear12.85 TWDFair Value 15.82 TWDBull19.77 TWD
Price 25.10 TWD · Downside -37.0%
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.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
−17.3%
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.
−7.0%
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.
+2.7%
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.
+3.8%
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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.
−9.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.4%
Dividend (yield on the price)3.6%
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% → 4%
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).
+6.8%
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 +5.1% a year for the price.
Compare Ant Precision Industry Co Ltd with another stock
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.Electronic Components · 655 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−37.0% · Below median
Profitability
Return on assets2.3% · Below median
Net margin (12 months)−2.0% · Bottom 25%
Operating margin (12 months)3.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)20.9% · Above median
Dividend yield (12 months)3.6% · Top 25%
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/B1.92× · Cheaper than median
P/S (12 months)1.40× · Cheaper than median
Price / free cash flow (fiscal year)21.2× · Cheaper than median
EV/EBITDA14.2× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 69
PAST (return on equity)0· sector 28
HEALTH (low debt)100· sector 95
DIVIDEND (yield)72· sector 27
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). "Ant Precision Industry Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3646
Frequently asked questions
Is Ant Precision Industry Co Ltd (3646) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 15.82 TWD versus a price of 25.10 TWD, about 37% lower (overvalued).
What is the fair value of 3646?
Our model-based fair value for Ant Precision Industry Co Ltd is 15.82 TWD (as of Nov 4, 2026), built from audited fundamentals. The current price: 25.10 TWD.
What is the quality score of 3646?
Ant Precision Industry Co Ltd has a Quality Score of 57/100. 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 Ant Precision Industry Co Ltd (3646)?
Our model-based price target is the fair value of 15.82 TWD (as of Nov 4, 2026) from 24 valuation models. Cautious scenario 12.85 TWD, optimistic scenario 19.77 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Ant Precision Industry Co Ltd stock forecast for 2026?
Our models put fair value at 15.82 TWD, about 37% lower versus a price of 25.10 TWD (overvalued). Cautious scenario 12.85 TWD, optimistic scenario 19.77 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Ant Precision Industry Co Ltd (3646)?
Ant Precision Industry Co Ltd reported trailing-twelve-month revenue of about 706M TWD (latest available figure, as of Nov 4, 2026).
Does Ant Precision Industry Co Ltd pay a dividend?
Ant Precision Industry Co Ltd currently shows a dividend yield of 3.59% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Ant Precision Industry Co Ltd (3646) and when is the ex-dividend date?
Ant Precision Industry Co Ltd pays a dividend of 0.9 TWD per share a year, a dividend yield of 3.6%. The last ex-dividend date was Aug 24, 2026. A dividend has been paid every year since at least 2012. The payout ratio is 159% of earnings. Free cash flow covers the dividend 1.32 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Ant Precision Industry Co Ltd (3646)?
For today's price to be fair in a discounted-cash-flow model, Ant Precision Industry Co Ltd would have to grow free cash flow by +6.8 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.7 % 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 4, 2026.
What discount rate (WACC) does the fair value of 3646 use?
Our models discount Ant Precision Industry Co Ltd at 9.0 %: a base by market capitalisation (nano), damped by beta 0.25, 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 Ant Precision Industry Co Ltd that is +6.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Ant Precision Industry Co Ltd (3646) delivered so far?
Over the past 5 years revenue at Ant Precision Industry Co Ltd grew +2.7 % a year. The price currently implies free-cash-flow growth of +6.8 % 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 Ant Precision Industry Co Ltd (3646) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Ant Precision Industry Co Ltd (+6.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Ant Precision Industry Co Ltd (3646)?
The free-cash-flow yield on the price is 4.72 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Ant Precision Industry Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ant Precision Industry Co Ltd (3646)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ant Precision Industry Co Ltd it is 15.82 TWD per share (as of Nov 4, 2026), against a price of 25.10 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 Ant Precision Industry Co Ltd stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 3646 trades above its calculated fair value: price 25.10 TWD, fair value 15.82 TWD, a gap of about −37% (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 3646?
No. The price is what the market pays today (25.10 TWD); the fair value is what the company's own numbers justify (15.82 TWD). For Ant Precision Industry Co Ltd the two are 9.28 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Ant Precision Industry Co Ltd worth?
The market values Ant Precision Industry Co Ltd at about 986M TWD (market capitalisation, as of Nov 4, 2026). Per share that is 25.10 TWD; our models calculate a fair value of 15.82 TWD per share.
What do the bullish and bearish scenarios say about 3646?
Our models span a range for Ant Precision Industry Co Ltd: cautious scenario 12.85 TWD, base 15.82 TWD, optimistic 19.77 TWD per share (as of Nov 4, 2026, price 25.10 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ant Precision Industry Co Ltd (3646)?
Balance-sheet figures for Ant Precision Industry Co Ltd (as of Nov 4, 2026): return on equity −3.1%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 3646 from its 52-week high?
Ant Precision Industry Co Ltd trades at 25.10 TWD, about 11% below its 52-week high of 28.35 TWD and 13% above the low of 22.14 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 15.82 TWD is for.
Which stocks are comparable to Ant Precision Industry Co Ltd?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, Inc, 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 Ant Precision Industry Co Ltd stock attractive at the current price?
The data as of Nov 4, 2026: price 25.10 TWD, calculated fair value 15.82 TWD (−37%), Quality Score 57/100, 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 3646 calculated?
We run Ant Precision Industry Co Ltd 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 15.82 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. Ant Precision Industry 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 Ant Precision Industry Co Ltd (3646)?
The closing price on Nov 9, 2026 was 25.10 TWD. Our model-based fair value is 15.82 TWD, about 37% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ant Precision Industry Co Ltd right now?
The price sits above even our optimistic bull case (19.77 TWD). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Ant Precision Industry Co Ltd
How large is the market capitalisation of Ant Precision Industry Co Ltd (3646)?
The market capitalisation of Ant Precision Industry Co Ltd is 986M TWD (≈ $30.0M). 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 Ant Precision Industry Co Ltd (3646)?
The price-to-sales ratio of Ant Precision Industry Co Ltd is 1.39 (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 Ant Precision Industry Co Ltd (3646)?
Earnings per share at Ant Precision Industry Co Ltd are −0.3700 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ant Precision Industry Co Ltd (3646)?
The dividend yield of Ant Precision Industry Co Ltd is 3.6%. 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 Ant Precision Industry Co Ltd (3646)?
The net margin of Ant Precision Industry Co Ltd is −2.0% (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 Ant Precision Industry Co Ltd (3646)?
The return on equity (ROE) of Ant Precision Industry Co Ltd is −3.1% (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 Ant Precision Industry Co Ltd (3646)?
On an EBIT basis the return on assets of Ant Precision Industry Co Ltd is 7.3% (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 Ant Precision Industry Co Ltd (3646)?
The operating margin of Ant Precision Industry Co Ltd is 3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ant Precision Industry Co Ltd (3646)?
Revenue at Ant Precision Industry Co Ltd is growing +20.9% versus a year earlier (3y avg −7.0%). 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 Ant Precision Industry Co Ltd (3646)?
Earnings per share at Ant Precision Industry Co Ltd are growing −80.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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Thin data
Nov 4, 2026