BenQ Medical Technology (4116) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of BenQ Medical Technology stock TWD 49.23, price TWD 40.40, upside +21.9%, quality 58 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 9, 2026.
How to read this chart
60‑month range 24.86 TWD – 83.79 TWD · fair‑value band 30.89 TWD – 65.58 TWD · the 40.40 TWD price screens below the 49.23 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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BenQ Medical Technology Corporation engages in the manufacture, installation, maintenance, and repair of medical device and various medical equipment in Taiwan, Mainland China, India, and internationally. It operates through R&D and Manufacturing, and Medical Services segments.
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The company offers wholesale and retail sales of medical device, medical equipment, pharmaceutical, health food, and the leasing business of medical equipment and management consulting services.
It also offers electric hydraulic and manual hydraulic operating table, and operating table accessories; adjustable color temperature and single-color temperature surgical light; fixed pendant, electric pendant, and ICU suspension bridge; diagnostic display, and surgical display monitor; and portable ultrasound units, as well as it offers integrated operating system solutions.
The company was formerly known as Trident Medical Corp. and changed its name to BenQ Medical Technology Corporation in June 2011. BenQ Medical Technology Corporation was incorporated in 1989 and is headquartered in Taipei, Taiwan.
Stock analysis
BenQ Medical Technology (4116) currently trades at 40.40 TWD, while our model-based Fair Value estimate is 49.23 TWD, implying the stock looks roughly 18% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 58.73 TWD per share, and 14 of the 26 models we run sit above the 40.40 TWD price.
Bear case: the Dividend Discount group reads lowest at 7.27 TWD, and 12 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 30.89 TWD (bear) to 65.58 TWD (bull), the price of 40.40 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 58/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
BenQ Medical Technology reported revenue of 5.3B TWD in FY2025 versus 1.5B TWD in FY2021, a compound +37.6%/yr. Reported net income was 78.2M TWD in FY2025, compounding +28.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 1.8B TWD (≈ $54.8M) Micro · P/E ratio 15.4 · P/S ratio 0.33 · EPS (TTM) 2.63 TWD · Dividend yield 5.0% · Net margin 2.2% · Return on equity 13.0% · Return on assets (EBIT) 6.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (medium confidence).
What moves the price
The share trades about 14% below its 52-week high and 14% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −44% fair-value upside, at 22%, 4116 screens cheaper than that median.
Fair Value models
Bear30.89 TWDFair Value 49.23 TWDBull65.58 TWD
Price 40.40 TWD · Upside +21.9%
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 (0.5402 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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.2%
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.
+21.2%
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.
+30.3%
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.
+22.5%
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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+4.8%
Dividend (yield on the price)5.0%
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.8% → 7%
Growth Forecast
Little optimism in the price
The price assumes less 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).
+1.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −0.1% a year for the price.
Compare BenQ Medical Technology 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.Medical Instruments & Supplies · 181 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Below median
Fair Value upside+21.9% · Top 25%
Profitability
Return on equity (12 months)13.0% · Above median
Return on assets4.0% · Below median
Net margin (12 months)6.0% · Below median
Operating margin (12 months)6.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)7.1% · Below median
Dividend yield (12 months)5.0% · Top 25%
Balance sheet
Debt / equity0.47× · Highest 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/E (12 months)15.4× · Cheaper than median
P/B1.60× · Cheaper than median
P/S (12 months)0.92× · Cheapest 25%
Price / free cash flow (fiscal year)19.3× · Cheaper 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). "BenQ Medical Technology Fair Value". https://www.fairvalue-calculator.com/stock/4116
Frequently asked questions
Is BenQ Medical Technology (4116) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 49.23 TWD versus a price of 40.40 TWD, about +22% upside (undervalued).
What is the fair value of 4116?
Our model-based fair value for BenQ Medical Technology is 49.23 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 40.40 TWD.
What is the quality score of 4116?
BenQ Medical Technology has a Quality Score of 58/100. 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 BenQ Medical Technology (4116)?
Our model-based price target is the fair value of 49.23 TWD (as of Nov 9, 2026) from 26 valuation models. Cautious scenario 30.89 TWD, optimistic scenario 65.58 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the BenQ Medical Technology stock forecast for 2026?
Our models put fair value at 49.23 TWD, about +22% upside versus a price of 40.40 TWD (undervalued). Cautious scenario 30.89 TWD, optimistic scenario 65.58 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of BenQ Medical Technology (4116)?
BenQ Medical Technology reported trailing-twelve-month revenue of about 5.4B TWD (latest available figure, as of Nov 9, 2026).
Does BenQ Medical Technology pay a dividend?
BenQ Medical Technology currently shows a dividend yield of 4.95% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of BenQ Medical Technology (4116) and when is the ex-dividend date?
BenQ Medical Technology pays a dividend of 2.00 TWD per share a year, a dividend yield of 5.0%. The last ex-dividend date was Jul 1, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 76.0% of earnings. Free cash flow covers the dividend 2.91 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into BenQ Medical Technology (4116)?
For today's price to be fair in a discounted-cash-flow model, BenQ Medical Technology would have to grow free cash flow by +1.4 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +30.3 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 4116 use?
Our models discount BenQ Medical Technology at 11.8 %: a base by market capitalisation (micro), damped by beta 0.33, 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 BenQ Medical Technology that is +1.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has BenQ Medical Technology (4116) delivered so far?
Over the past 5 years revenue at BenQ Medical Technology grew +30.3 % a year. The price currently implies free-cash-flow growth of +1.4 % 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 BenQ Medical Technology (4116) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into BenQ Medical Technology (+1.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of BenQ Medical Technology (4116)?
The free-cash-flow yield on the price is 14.41 %: that much free cash flow BenQ Medical Technology produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BenQ Medical Technology (4116)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BenQ Medical Technology it is 49.23 TWD per share (as of Nov 9, 2026), against a price of 40.40 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 BenQ Medical Technology stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 4116 trades below its calculated fair value: price 40.40 TWD, fair value 49.23 TWD, a gap of about +22% (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 4116?
No. The price is what the market pays today (40.40 TWD); the fair value is what the company's own numbers justify (49.23 TWD). For BenQ Medical Technology the two are 8.83 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is BenQ Medical Technology worth?
The market values BenQ Medical Technology at about 1.8B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 40.40 TWD; our models calculate a fair value of 49.23 TWD per share.
What do the bullish and bearish scenarios say about 4116?
Our models span a range for BenQ Medical Technology: cautious scenario 30.89 TWD, base 49.23 TWD, optimistic 65.58 TWD per share (as of Nov 9, 2026, price 40.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4116?
BenQ Medical Technology trades at a price-to-earnings ratio of 15.4 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 49.23 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 24.9. Other multiples: P/B 1.6, P/S 0.9, EV/EBITDA 7.6.
How solid is the balance sheet of BenQ Medical Technology (4116)?
Balance-sheet figures for BenQ Medical Technology (as of Nov 9, 2026): return on equity 13.0%, debt of 0.47 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 4116 from its 52-week high?
BenQ Medical Technology trades at 40.40 TWD, about 14% below its 52-week high of 47.00 TWD and 14% above the low of 35.46 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 49.23 TWD is for.
Which stocks are comparable to BenQ Medical Technology?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline 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 BenQ Medical Technology stock attractive at the current price?
The data as of Nov 9, 2026: price 40.40 TWD, calculated fair value 49.23 TWD (+22%), Quality Score 58/100, 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 4116 calculated?
We run BenQ Medical Technology 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 49.23 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. BenQ Medical Technology currently trades 18% 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 BenQ Medical Technology (4116)?
The closing price on Nov 9, 2026 was 40.40 TWD. Our model-based fair value is 49.23 TWD, about +22% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BenQ Medical Technology right now?
Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (30.89 TWD to 65.58 TWD) leaves room in how you read the outcome.
Key figures of BenQ Medical Technology
How large is the market capitalisation of BenQ Medical Technology (4116)?
The market capitalisation of BenQ Medical Technology is 1.8B TWD (≈ $54.8M). 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 BenQ Medical Technology (4116)?
The price-to-sales ratio of BenQ Medical Technology is 0.33 (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 BenQ Medical Technology (4116)?
Earnings per share at BenQ Medical Technology are 2.63 TWD (price ÷ EPS = P/E 15.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BenQ Medical Technology (4116)?
The dividend yield of BenQ Medical Technology is 5.0% (payout 76.0%). 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 BenQ Medical Technology (4116)?
The net margin of BenQ Medical Technology is 2.2% (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 BenQ Medical Technology (4116)?
The return on equity (ROE) of BenQ Medical Technology is 13.0% (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 BenQ Medical Technology (4116)?
On an EBIT basis the return on assets of BenQ Medical Technology is 6.5% (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 BenQ Medical Technology (4116)?
The operating margin of BenQ Medical Technology is 6.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BenQ Medical Technology (4116)?
Revenue at BenQ Medical Technology is growing +7.1% versus a year earlier (3y avg +21.2%). 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 BenQ Medical Technology (4116)?
Earnings per share at BenQ Medical Technology are growing +503% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does BenQ Medical Technology (4116) carry?
The net debt of BenQ Medical Technology is 718M TWD (fiscal year 2025, ≈ 2.8 yrs of FCF). 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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Broad data
Nov 9, 2026