RichWave Technology Corp (4968) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of RichWave Technology Corp stock TWD 87.56, price TWD 79.60, upside +10.0%, quality 71 out of 100. Rating: fairly valued. 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 72.40 TWD – 356.77 TWD · fair‑value band 67.91 TWD – 110.22 TWD · the 79.60 TWD price screens below the 87.56 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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RichWave Technology Corporation designs, develops, and sells radio frequency (RF) integrated circuits in Taiwan, China, Korea, and internationally.
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It offers a portfolio of RF front-end components for Wi-Fi, such as power amplifiers, low noise amplifiers, switches, and front-end modules; mobility switches, and mobility and GPS LNA products; Internet of Things (IoT) low noise amplifiers and switches; automotive front-end modules and switches; cable network switches; radar sensors; and GPS/WiFi, cellular SAW, IoT SAW, and dual SAW filters.
The company also provides single-chip broadcast IC tuners, as well as a line of wireless video/audio transmission chipsets for various ISM bands. Its products are used in various applications, including networking, mobile, smart home, internet of things, wireless media, broadcasting, and automotive.
The company was founded in 2004 and is headquartered in Taipei, Taiwan.
Stock analysis
RichWave Technology Corp (4968) currently trades at 79.60 TWD, while our model-based Fair Value estimate is 87.56 TWD, so the stock looks roughly fairly valued today (gap 9.1%).
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Valuation
Bull case: the Multiples group reads highest at a median of 71.70 TWD per share, and 2 of the 26 models we run sit above the 79.60 TWD price.
Bear case: the Dividend Discount group reads lowest at 10.39 TWD, and 24 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 67.91 TWD (bear) to 110.22 TWD (bull), the price of 79.60 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 71/100 (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.
RichWave Technology Corp reported revenue of 3.8B TWD in FY2025 versus 5.3B TWD in FY2021, a compound −8.3%/yr. Reported net income was 245M TWD in FY2025, compounding −14.8%/yr from FY2021.
Key figures
Market cap 8.3B TWD (≈ $252M) Micro · P/E ratio 21.6 · P/S ratio 1.41 · EPS (TTM) 3.68 TWD · Dividend yield 2.0% · Net margin 6.5% · Return on equity 9.2% · Return on assets (EBIT) 3.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 44% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at 10%, 4968 screens cheaper than that median.
Fair Value models
Bear67.91 TWDFair Value 87.56 TWDBull110.22 TWD
Price 79.60 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 (1.78 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+2.2%
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.
+3.1%
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.
−6.8%
Start year 2020 (pandemic). Over 10 years: +8.2% 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.
+13.4%
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What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
−25.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−27.0%
Dividend (yield on the price)2.0%
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.−12.7% vs 4.2%, slowing
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.19% → 6%
2025 sits 127% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
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).
+11.2%
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 +9.5% a year for the price.
Compare RichWave Technology Corp with another stock
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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 · 369 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside+10.0% · Top 25%
Profitability
Return on equity (12 months)9.2% · Above median
Return on assets6.7% · Above median
Net margin (12 months)6.4% · Below median
Operating margin (12 months)2.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)−1.4% · Bottom 25%
Dividend yield (12 months)2.0% · Above median
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (12 months)21.6× · Cheaper than median
P/B3.01× · Pricier than median
P/S (12 months)2.16× · Cheaper than median
Price / free cash flow (fiscal year)17.5× · Cheaper than median
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Is RichWave Technology Corp (4968) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 87.56 TWD versus a price of 79.60 TWD, about +10% upside (fairly valued).
What is the fair value of 4968?
Our model-based fair value for RichWave Technology Corp is 87.56 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 79.60 TWD.
What is the quality score of 4968?
RichWave Technology Corp has a Quality Score of 71/100. 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 RichWave Technology Corp (4968)?
Our model-based price target is the fair value of 87.56 TWD (as of Nov 9, 2026) from 26 valuation models. Cautious scenario 67.91 TWD, optimistic scenario 110.22 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the RichWave Technology Corp stock forecast for 2026?
Our models put fair value at 87.56 TWD, about +10% upside versus a price of 79.60 TWD (fairly valued). Cautious scenario 67.91 TWD, optimistic scenario 110.22 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of RichWave Technology Corp (4968)?
RichWave Technology Corp reported trailing-twelve-month revenue of about 3.8B TWD (latest available figure, as of Nov 9, 2026).
Does RichWave Technology Corp pay a dividend?
RichWave Technology Corp currently shows a dividend yield of 2.01% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of RichWave Technology Corp (4968) and when is the ex-dividend date?
RichWave Technology Corp pays a dividend of 1.60 TWD per share a year, a dividend yield of 2.0%. The last ex-dividend date was Jul 13, 2026. The payout ratio is 43.5% of earnings. Free cash flow covers the dividend 3.22 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into RichWave Technology Corp (4968)?
For today's price to be fair in a discounted-cash-flow model, RichWave Technology Corp would have to grow free cash flow by +11.2 % per year for five years (discount rate 14.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.8 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 4968 use?
Our models discount RichWave Technology Corp at 14.5 %: a base by market capitalisation (micro), 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 RichWave Technology Corp that is +11.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (14.5 %) and the same formula as our fair value.
How much growth has RichWave Technology Corp (4968) delivered so far?
Over the past 5 years revenue at RichWave Technology Corp grew -6.8 % a year. The price currently implies free-cash-flow growth of +11.2 % 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 RichWave Technology Corp (4968) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into RichWave Technology Corp (+11.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of RichWave Technology Corp (4968)?
The free-cash-flow yield on the price is 6.44 %: that much free cash flow RichWave Technology Corp produces per unit of market value. When it exceeds the discount rate of our models (14.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of RichWave Technology Corp (4968)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For RichWave Technology Corp it is 87.56 TWD per share (as of Nov 9, 2026), against a price of 79.60 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 RichWave Technology Corp stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 4968 trades below its calculated fair value: price 79.60 TWD, fair value 87.56 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 4968?
No. The price is what the market pays today (79.60 TWD); the fair value is what the company's own numbers justify (87.56 TWD). For RichWave Technology Corp the two are 7.96 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is RichWave Technology Corp worth?
The market values RichWave Technology Corp at about 8.3B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 79.60 TWD; our models calculate a fair value of 87.56 TWD per share.
What do the bullish and bearish scenarios say about 4968?
Our models span a range for RichWave Technology Corp: cautious scenario 67.91 TWD, base 87.56 TWD, optimistic 110.22 TWD per share (as of Nov 9, 2026, price 79.60 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4968?
RichWave Technology Corp trades at a price-to-earnings ratio of 21.6 (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 87.56 TWD is built from several models across several years. Other multiples: P/B 3.0, P/S 2.2, EV/EBITDA 32.3.
How solid is the balance sheet of RichWave Technology Corp (4968)?
Balance-sheet figures for RichWave Technology Corp (as of Nov 9, 2026): return on equity 9.2%. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is 4968 from its 52-week high?
RichWave Technology Corp trades at 79.60 TWD, about 44% below its 52-week high of 142.92 TWD and 10% above the low of 72.40 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 87.56 TWD is for.
Which stocks are comparable to RichWave Technology Corp?
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 RichWave Technology Corp stock attractive at the current price?
The data as of Nov 9, 2026: price 79.60 TWD, calculated fair value 87.56 TWD (+10%), Quality Score 71/100, 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 4968 calculated?
We run RichWave Technology Corp 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 87.56 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. RichWave Technology Corp 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 RichWave Technology Corp (4968)?
The closing price on Nov 9, 2026 was 79.60 TWD. Our model-based fair value is 87.56 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 RichWave Technology Corp right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of RichWave Technology Corp (4968) come from?
Earnings per share at RichWave Technology Corp grew +4.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.4 %, EBIT margin −6.0 %, tax rate −0.6 %, residual (interest, one-offs) +4.5 %. 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 RichWave Technology Corp
How large is the market capitalisation of RichWave Technology Corp (4968)?
The market capitalisation of RichWave Technology Corp is 8.3B TWD (≈ $252M). 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 RichWave Technology Corp (4968)?
The price-to-sales ratio of RichWave Technology Corp is 1.41 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of RichWave Technology Corp (4968)?
Earnings per share at RichWave Technology Corp are 3.68 TWD (price ÷ EPS = P/E 21.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of RichWave Technology Corp (4968)?
The dividend yield of RichWave Technology Corp is 2.0% (payout 43.5%). 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 RichWave Technology Corp (4968)?
The net margin of RichWave Technology Corp is 6.5% (fiscal year 2025). 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 RichWave Technology Corp (4968)?
The return on equity (ROE) of RichWave Technology Corp is 9.2% (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 RichWave Technology Corp (4968)?
On an EBIT basis the return on assets of RichWave Technology Corp 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 RichWave Technology Corp (4968)?
The operating margin of RichWave Technology Corp is 2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at RichWave Technology Corp (4968)?
Revenue at RichWave Technology Corp is growing −1.4% versus a year earlier (3y avg +3.1%). 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 RichWave Technology Corp (4968)?
Earnings per share at RichWave Technology Corp are growing −72.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does RichWave Technology Corp (4968) hold?
RichWave Technology Corp holds more cash than debt, 628M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 9, 2026