Alchip Technologies Ltd (3661) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Alchip Technologies Ltd stock TWD 3,256, price TWD 2,960, upside +10.0%, quality 66 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 515.02 TWD – 5,375 TWD · fair‑value band 2,279 TWD – 4,233 TWD · the 2,960 TWD price screens below the 3,256 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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Alchip Technologies, Limited, together with its subsidiaries, engages in the research, design, development, and manufacturing of application specific integrated circuits and system on a chip in the United States, China, Japan, Taiwan, and internationally.
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It offers ASIC design services, including SoC frontend design, physical backend design, and design for testability, as well as low power, high performance, and advanced package solutions; production services, such as advanced packaging, advanced testing, and product engineering services, as well as quality assurance and policy; and IP services comprising IP integration and verification.
The company is also involved in general investment activities; provision of product technical support and consultation services; and software development and services.
Its products are used in AI, HPC/supercomputer, mobile phones, entertainment device, networking equipment, and electronic product sectors. The company was founded in 1992 and is headquartered in Taipei, Taiwan.
Stock analysis
Alchip Technologies Ltd (3661) currently trades at 2,960 TWD, while our model-based Fair Value estimate is 3,256 TWD, so the stock looks roughly fairly valued today (gap 9.1%).
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Valuation
Bull case: the DCF Models group reads highest at a median of 3,561 TWD per share, and 8 of the 26 models we run sit above the 2,960 TWD price.
Bear case: the Asset-Based group reads lowest at 415.08 TWD, and 18 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 2,279 TWD (bear) to 4,233 TWD (bull), the price of 2,960 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 66/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Alchip Technologies Ltd reported revenue of 30.9B TWD in FY2025 versus 10.4B TWD in FY2021, a compound +31.2%/yr. Reported net income was 5.6B TWD in FY2025, compounding +39.2%/yr from FY2021.
Key figures
Market cap 261B TWD (≈ $7.9B) Mid · P/E ratio 43.0 · P/S ratio 11.3 · EPS (TTM) 68.87 TWD · Dividend yield 1.2% · Net margin 25.4% · Return on equity 12.3% · Return on assets (EBIT) 12.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).
What moves the price
The share trades about 45% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 0% fair-value upside, at 10%, 3661 screens cheaper than that median.
Fair Value models
Bear2,279 TWDFair Value 3,256 TWDBull4,233 TWD
Price 2,960 TWD · Upside +10.0%
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 (29.27 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.94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−40.5%
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.
+31.1%
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.
+34.3%
Start year 2020 (pandemic). Over 10 years: +23.4% a year
Revenue growth 16 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.
+24.3%
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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. Basis: EBIT basis. 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.
≈ +31.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+30.0%
Dividend (yield on the price)1.2%
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.40.5% vs 37.6%, steady
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.16% → 16%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 60% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
+6.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+59.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +4.9% a year for the price and +57.0% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (95 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Expertise in ASIC design for advanced packaging and high-speed interfaces aids AI accelerators, yet uncertain conversion into consistent volume ramps limits durability.
Main risk: Risks in production execution for scale-up solutions could hinder volume ramps and pressure margins in ASIC manufacturing.
Alchip stands out for its ASIC design expertise in advanced packaging and high-speed interfaces that tackle bandwidth limits in next-generation AI accelerators. Recent collaborations underscore this technical edge, yet converting design leadership into consistent volume ramps remains uncertain amid foundry timing and margin pressures. Will the push into scale-up solutions drive more design wins than it exposes risks in production execution?
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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.Semiconductors · 371 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Above median
Fair Value upside+10.0% · Top 25%
Profitability
Return on equity (12 months)12.3% · Above median
Return on assets9.6% · Top 25%
Net margin (12 months)25.4% · Top 25%
Operating margin (12 months)21.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−16.5% · Bottom 25%
Dividend yield (12 months)1.2% · Above median
Valuation Multiplesvs Semiconductors median · lower = cheaper
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Is Alchip Technologies Ltd (3661) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 3,256 TWD versus a price of 2,960 TWD, about +10% upside (fairly valued).
What is the fair value of 3661?
Our model-based fair value for Alchip Technologies Ltd is 3,256 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 2,960 TWD.
What is the quality score of 3661?
Alchip Technologies Ltd has a Quality Score of 66/100. 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 Alchip Technologies Ltd (3661)?
Our model-based price target is the fair value of 3,256 TWD (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 2,279 TWD, optimistic scenario 4,233 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Alchip Technologies Ltd stock forecast for 2026?
Our models put fair value at 3,256 TWD, about +10% upside versus a price of 2,960 TWD (fairly valued). Cautious scenario 2,279 TWD, optimistic scenario 4,233 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Alchip Technologies Ltd (3661)?
Alchip Technologies Ltd reported trailing-twelve-month revenue of about 23.1B TWD (latest available figure, as of Nov 5, 2026).
Does Alchip Technologies Ltd pay a dividend?
Alchip Technologies Ltd currently shows a dividend yield of 1.16% relative to its recent price (as of Nov 5, 2026).
What growth is priced into Alchip Technologies Ltd (3661)?
For today's price to be fair in a discounted-cash-flow model, Alchip Technologies Ltd would have to grow free cash flow by +6.5 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +34.3 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 3661 use?
Our models discount Alchip Technologies Ltd at 11.2 %: a base by market capitalisation (mid), damped by beta 1.36, 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 Alchip Technologies Ltd that is +6.5 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Alchip Technologies Ltd (3661) delivered so far?
Over the past 5 years revenue at Alchip Technologies Ltd grew +34.3 % a year. The price currently implies +6.5 % per year free-cash-flow growth a 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 Alchip Technologies Ltd (3661) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Alchip Technologies Ltd (+6.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Alchip Technologies Ltd (3661)?
The free-cash-flow yield on the price is 5.97 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Alchip Technologies Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Alchip Technologies Ltd (3661)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alchip Technologies Ltd it is 3,256 TWD per share (as of Nov 5, 2026), against a price of 2,960 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Alchip Technologies Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 3661 trades below its calculated fair value: price 2,960 TWD, fair value 3,256 TWD, a gap of about +10% (fairly valued). 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 3661?
No. The price is what the market pays today (2,960 TWD); the fair value is what the company's own numbers justify (3,256 TWD). For Alchip Technologies Ltd the two are 296.00 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Alchip Technologies Ltd worth?
The market values Alchip Technologies Ltd at about 261B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 2,960 TWD; our models calculate a fair value of 3,256 TWD per share.
What do the bullish and bearish scenarios say about 3661?
Our models span a range for Alchip Technologies Ltd: cautious scenario 2,279 TWD, base 3,256 TWD, optimistic 4,233 TWD per share (as of Nov 5, 2026, price 2,960 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3661?
Alchip Technologies Ltd trades at a price-to-earnings ratio of 43.0 (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 3,256 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings, FY2025 ex one-offs: 41.6. Other multiples: P/B 6.4, P/S 11.3, EV/EBITDA 27.6.
How solid is the balance sheet of Alchip Technologies Ltd (3661)?
Balance-sheet figures for Alchip Technologies Ltd (as of Nov 5, 2026): return on equity 12.3%. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 3661 from its 52-week high?
Alchip Technologies Ltd trades at 2,960 TWD, about 45% below its 52-week high of 5,375 TWD and 19% above the low of 2,485 TWD (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 3,256 TWD is for.
Which stocks are comparable to Alchip Technologies Ltd?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, 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 Alchip Technologies Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 2,960 TWD, calculated fair value 3,256 TWD (+10%), Quality Score 66/100, 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 3661 calculated?
We run Alchip Technologies Ltd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 3,256 TWD, 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 15.5% above its aggregate fair value. Alchip Technologies Ltd currently trades 9% 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 Alchip Technologies Ltd (3661)?
The closing price on Nov 5, 2026 was 2,960 TWD. Our model-based fair value is 3,256 TWD, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alchip Technologies Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (2,279 TWD to 4,233 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Alchip Technologies Ltd (3661) come from?
Earnings per share at Alchip Technologies Ltd grew +39.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +22.2 %, EBIT margin +9.8 %, tax rate +1.3 %, residual (interest, one-offs) +2.3 %. 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 Alchip Technologies Ltd
How large is the market capitalisation of Alchip Technologies Ltd (3661)?
The market capitalisation of Alchip Technologies Ltd is 261B TWD (≈ $7.9B). 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 Alchip Technologies Ltd (3661)?
The price-to-sales ratio of Alchip Technologies Ltd is 11.3 (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 Alchip Technologies Ltd (3661)?
Earnings per share at Alchip Technologies Ltd are 68.87 TWD (price ÷ EPS = P/E 43.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Alchip Technologies Ltd (3661)?
The dividend yield of Alchip Technologies Ltd is 1.2% (payout 50.0%). 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 Alchip Technologies Ltd (3661)?
The net margin of Alchip Technologies Ltd is 25.4% (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 Alchip Technologies Ltd (3661)?
The return on equity (ROE) of Alchip Technologies Ltd is 12.3% (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 Alchip Technologies Ltd (3661)?
On an EBIT basis the return on assets of Alchip Technologies Ltd is 12.3% (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 Alchip Technologies Ltd (3661)?
The operating margin of Alchip Technologies Ltd is 21.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Alchip Technologies Ltd (3661)?
Revenue at Alchip Technologies Ltd is growing −16.5% versus a year earlier (3y avg +31.1%). 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 Alchip Technologies Ltd (3661)?
Earnings per share at Alchip Technologies Ltd are growing +16.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Alchip Technologies Ltd (3661) hold?
Alchip Technologies Ltd holds more cash than debt, 32.3B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 5, 2026