Tainet Communication System (4905) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Tainet Communication System stock TWD 61.82, price TWD 78.30, that is 21.0% below the price, quality 43 out of 100. Rating: overvalued. Calculated from audited financials with 14 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 7, 2026.
How to read this chart
60‑month range 50.10 TWD – 123.50 TWD · fair‑value band 60.89 TWD – 76.38 TWD · the 78.30 TWD price screens above the 61.82 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Tainet Communication System Corp. provides carrier class access equipment to telecommunication companies, service operators, and business users worldwide.
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The company offers Ethernet access devices, fiber optics, VoIP gateway products, xDSL and analog modems, LTE routers, PON, and optical transceivers.
It also provides wireless access and data communication; voice services in complex network environments and VoIP gateway communication; xDSL Ethernet, multi service extension, and railway solutions for TRA; TDM over IP communication; and copper over fiber connectivity solutions.
Tainet Communication System Corp. was founded in 1980 and is headquartered in Taipei, Taiwan.
Stock analysis
Tainet Communication System (4905) currently trades at 78.30 TWD, while our model-based Fair Value estimate is 61.82 TWD, 21% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 139.37 TWD per share, and 4 of the 14 models we run sit above the 78.30 TWD price.
Bear case: the Asset-Based group reads lowest at 6.74 TWD, and 10 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 60.89 TWD (bear) to 76.38 TWD (bull), the price of 78.30 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 43/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Tainet Communication System reported revenue of 727M TWD in FY2025 versus 59.3M TWD in FY2021, a compound +87.1%/yr. Reported net income was 80.7M TWD in FY2025, compounding +13.9%/yr from FY2021.
Key figures
Market cap 2.3B TWD (≈ $69.8M) Micro · P/E ratio 6.4 · P/S ratio 2.74 · EPS (TTM) 12.33 TWD · Dividend yield 1.9% · Net margin 43.2% · Return on equity 12.6% · Return on assets (EBIT) 1.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 30% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −45% fair-value upside, at −21%, 4905 screens cheaper than that median.
Fair Value models
Bear60.89 TWDFair Value 61.82 TWDBull76.38 TWD
Price 78.30 TWD · Downside -21.0%
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 (9.29 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+22.6%
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.
+106.2%
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.
+62.3%
Start year 2020 (pandemic)
Revenue growth 6 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.
+49.9%
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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.
≈ +15.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +13.1%
Dividend (yield on the price)1.9%
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.49% → 1%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 1.49 per share, median 8.05 in 2017 to 2018). It measures the recovery from the trough, not lasting growth.
Compare Tainet Communication System 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.Communication Equipment · 300 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score43 · Below median
Fair Value upside−21.0% · Above median
Profitability
Return on equity (12 months)12.6% · Above median
Return on assets1.9% · Below median
Net margin (12 months)43.2% · Top 25%
Operating margin (12 months)−2.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)28.6% · Above median
Dividend yield (12 months)1.9% · Above median
Balance sheet
Debt / equity0.06× · Above median
Valuation Multiplesvs Communication Equipment median · lower = cheaper
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). "Tainet Communication System Fair Value". https://www.fairvalue-calculator.com/stock/4905
Frequently asked questions
Is Tainet Communication System (4905) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 61.82 TWD versus a price of 78.30 TWD, about 21% lower (overvalued).
What is the fair value of 4905?
Our model-based fair value for Tainet Communication System is 61.82 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 78.30 TWD.
What is the quality score of 4905?
Tainet Communication System has a Quality Score of 43/100. 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 Tainet Communication System (4905)?
Our model-based price target is the fair value of 61.82 TWD (as of Nov 7, 2026) from 14 valuation models. Cautious scenario 60.89 TWD, optimistic scenario 76.38 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Tainet Communication System stock forecast for 2026?
Our models put fair value at 61.82 TWD, about 21% lower versus a price of 78.30 TWD (overvalued). Cautious scenario 60.89 TWD, optimistic scenario 76.38 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Tainet Communication System (4905)?
Tainet Communication System reported trailing-twelve-month revenue of about 837M TWD (latest available figure, as of Nov 7, 2026).
Does Tainet Communication System pay a dividend?
Tainet Communication System currently shows a dividend yield of 1.92% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Tainet Communication System (4905) and when is the ex-dividend date?
Tainet Communication System pays a dividend of 1.50 TWD per share a year, a dividend yield of 1.9%. The last ex-dividend date was Aug 31, 2026. A dividend has been paid every year since 2011. The payout ratio is 12.2% 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 Tainet Communication System (4905)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tainet Communication System it is 61.82 TWD per share (as of Nov 7, 2026), against a price of 78.30 TWD. It is the blended result of 14 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Tainet Communication System stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 4905 trades above its calculated fair value: price 78.30 TWD, fair value 61.82 TWD, a gap of about −21% (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 4905?
No. The price is what the market pays today (78.30 TWD); the fair value is what the company's own numbers justify (61.82 TWD). For Tainet Communication System the two are 16.48 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Tainet Communication System worth?
The market values Tainet Communication System at about 2.3B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 78.30 TWD; our models calculate a fair value of 61.82 TWD per share.
What do the bullish and bearish scenarios say about 4905?
Our models span a range for Tainet Communication System: cautious scenario 60.89 TWD, base 61.82 TWD, optimistic 76.38 TWD per share (as of Nov 7, 2026, price 78.30 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4905?
Tainet Communication System trades at a price-to-earnings ratio of 6.4 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 61.82 TWD is built from several models across several years. Other multiples: P/B 0.8, P/S 2.7.
How solid is the balance sheet of Tainet Communication System (4905)?
Balance-sheet figures for Tainet Communication System (as of Nov 7, 2026): return on equity 12.6%, debt of 0.06 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 4905 from its 52-week high?
Tainet Communication System trades at 78.30 TWD, about 20% below its 52-week high of 98.20 TWD and 30% above the low of 60.30 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 61.82 TWD is for.
Which stocks are comparable to Tainet Communication System?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Motorola Solutions, 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 Tainet Communication System stock attractive at the current price?
The data as of Nov 7, 2026: price 78.30 TWD, calculated fair value 61.82 TWD (−21%), Quality Score 43/100, from 14 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 4905 calculated?
We run Tainet Communication System through 14 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 61.82 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. Tainet Communication System 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 Tainet Communication System (4905)?
The closing price on Nov 9, 2026 was 78.30 TWD. Our model-based fair value is 61.82 TWD, about 21% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tainet Communication System right now?
The price sits above even our optimistic bull case (76.38 TWD). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of Tainet Communication System
How large is the market capitalisation of Tainet Communication System (4905)?
The market capitalisation of Tainet Communication System is 2.3B TWD (≈ $69.8M). 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 Tainet Communication System (4905)?
The price-to-sales ratio of Tainet Communication System is 2.74 (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 Tainet Communication System (4905)?
Earnings per share at Tainet Communication System are 12.33 TWD (price ÷ EPS = P/E 6.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tainet Communication System (4905)?
The dividend yield of Tainet Communication System is 1.9% (payout 12.2%). 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 Tainet Communication System (4905)?
The net margin of Tainet Communication System is 43.2% (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 Tainet Communication System (4905)?
The return on equity (ROE) of Tainet Communication System is 12.6% (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 Tainet Communication System (4905)?
On an EBIT basis the return on assets of Tainet Communication System is 1.2% (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 Tainet Communication System (4905)?
The operating margin of Tainet Communication System is −2.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tainet Communication System (4905)?
Revenue at Tainet Communication System is growing +28.6% versus a year earlier (3y avg +106%). 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 Tainet Communication System (4905)?
Earnings per share at Tainet Communication System are growing +383% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tainet Communication System (4905) generate?
The free cash flow of Tainet Communication System is −190M 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 Tainet Communication System (4905) carry?
The net debt of Tainet Communication System is 736M 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 7, 2026