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LCY Technology Corp (4989) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of LCY Technology Corp stock TWD 44.19, price TWD 58.90, that is 25.0% below the price, quality 45 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials TW · ISIN TW0004989009

LT LCY Technology Corp logo Thin data Nov 10, 2026

LCY Technology Corp

4989 · TW
Expensive, weak quality

Our calculation puts a fair price 25% below what the stock costs today.

Revenue last quarter +45% vs. a year ago.
Quality 45/100
Fair value 44.19 TWD · Overvalued
Weak Growth (revenue 5y −1.0 %/yr in TWD)
Loss-making · -6.6% net margin (TTM)
Negative free cash flow
Trails peers (2/9)
Narrow moat 9/100
Thin data
⟳ CyclicalEstimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

116.50 TWD 13.50 TWD Fair Value 44.19 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 13.50 TWD – 116.50 TWD · fair‑value band 33.15 TWD – 55.24 TWD · the 58.90 TWD price screens above the 44.19 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

LCY Technology Corp. manufactures and sells copper foil for the printed circuit board and copper foil substrate industry in Taiwan and internationally.

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The company offers 4oz, 3oz, 2oz, 1oz, 1/2oz, 1/3oz, and 9µm copper foils, as well as 7µm, ultra-thin, very low-profile, reverse treatment, and very low-profile RTF foils. It also provides high-frequency, high-density, and high-speed materials, as well as precision die-casting solutions.

The company was founded in 1997 and is headquartered in Taipei City, Taiwan.

Stock analysis

LCY Technology Corp (4989) currently trades at 58.90 TWD, while our estimate is 44.19 TWD, 25% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 33.15 TWD (bear) to 55.24 TWD (bull), the price of 58.90 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 45/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

LCY Technology Corp reported revenue of 2.7B TWD in FY2025 versus 4.5B TWD in FY2021, a compound −12.2%/yr. Reported net income was −480M TWD in FY2025.

Key figures

Market cap 10.2B TWD (≈ $309M) Small · P/S ratio 3.01 · EPS (TTM) −1.61 TWD · Net margin −6.6% · Return on equity −14.9% · Return on assets (EBIT) −3.6% (5-year average) · Operating margin −10.9% · Revenue (TTM) 3.5B TWD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).

What moves the price

The share trades about 49% below its 52-week high and 54% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −14% fair-value upside, at −25%, 4989 screens richer than that median.

Fair Value

Bear 33.15 TWD Fair Value 44.19 TWD Bull 55.24 TWD
Price 58.90 TWD · Downside -25.0%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 45/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 19
How much profit the company makes from its sales and capital
Quality Growth 12
Are margins and returns getting better?
Cashflow 7
Do the profits arrive as real cash?
Financial strength 77
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 7
How calm the share price moves, does not count
Price momentum 45
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 63
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 2/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−11.1%
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.
−13.0%
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.
−1.0%
Start year 2020 (pandemic). Over 10 years: −0.4% a year
Revenue growth 18 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.
−0.5%
Profit margin (trend) ⓘ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.
2.4% (2020) → −17.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

4989 screens overvalued: fair value 25% below the price. Compare with Southern Copper Corporation →

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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.Copper · 69 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 45 · Below median
Fair Value upside −25.0% · Above median
Profitability
Return on assets −22.3% · Bottom 25%
Net margin (12 months) −6.6% · Bottom 25%
Operating margin (12 months) −10.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 44.5% · Above median

Valuation Multiplesvs Copper median · lower = cheaper

P/B 6.90× · Priciest 25%
P/S (12 months) 2.93× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 100
PAST (return on equity)0 · sector 35
HEALTH (low debt)0 · sector 93
DIVIDEND (yield)0 · sector 26

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Copper stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China Nonferrous Mining Corporation 1258 HK$11.79 HK$13.81 +17% vs 4989
Lundin Mining Corporation LUN C$30.74 C$34.62 +13% vs 4989
MMG Limited 1208 HK$7.01 HK$7.51 +7% vs 4989
Southern Copper Corporation SCCO $170.36 $157.21 −8% vs 4989
Capstone Copper Corp CS C$11.21 C$9.67 −14% vs 4989
Jiangxi Copper Company 600362 ¥32.80 ¥25.86 −21% vs 4989
Hudbay Minerals Inc HBM $21.95 $16.39 −25% vs 4989
Tongling Nonferrous Metals Group 000630 ¥4.95 ¥2.16 −56% vs 4989
First Quantum Minerals Ltd FM C$34.16 C$14.80 −57% vs 4989
Freeport-McMoRan Inc FCX $60.31 $16.51 −73% vs 4989

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LCY Technology Corp: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "LCY Technology Corp Fair Value". https://www.fairvalue-calculator.com/stock/4989

Frequently asked questions

Is LCY Technology Corp (4989) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 44.19 TWD versus a price of 58.90 TWD, about 25% lower (overvalued).
What is the fair value of 4989?
Our estimate for LCY Technology Corp is 44.19 TWD (as of Nov 10, 2026), built from audited fundamentals. The current price: 58.90 TWD.
What is the quality score of 4989?
LCY Technology Corp has a Quality Score of 45/100. 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 LCY Technology Corp (4989)?
Our calculated price target is the estimate of 44.19 TWD (as of Nov 10, 2026). Cautious scenario 33.15 TWD, optimistic scenario 55.24 TWD. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the LCY Technology Corp stock forecast for 2026?
Our estimate puts fair value at 44.19 TWD, about 25% lower versus a price of 58.90 TWD (overvalued). Cautious scenario 33.15 TWD, optimistic scenario 55.24 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of LCY Technology Corp (4989)?
LCY Technology Corp reported trailing-twelve-month revenue of about 3.5B TWD (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of LCY Technology Corp (4989)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LCY Technology Corp it is 44.19 TWD per share (as of Nov 10, 2026), against a price of 58.90 TWD.
Is LCY Technology Corp stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 4989 trades above its calculated fair value: price 58.90 TWD, fair value 44.19 TWD, a gap of about −25% (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 4989?
No. The price is what the market pays today (58.90 TWD); the fair value is what the company's own numbers justify (44.19 TWD). For LCY Technology Corp the two are 14.71 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is LCY Technology Corp worth?
The market values LCY Technology Corp at about 10.2B TWD (market capitalisation, as of Nov 10, 2026). Per share that is 58.90 TWD; our models calculate a fair value of 44.19 TWD per share.
What do the bullish and bearish scenarios say about 4989?
Our models span a range for LCY Technology Corp: cautious scenario 33.15 TWD, base 44.19 TWD, optimistic 55.24 TWD per share (as of Nov 10, 2026, price 58.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of LCY Technology Corp (4989)?
Balance-sheet figures for LCY Technology Corp (as of Nov 10, 2026): return on equity −14.9%. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 4989 from its 52-week high?
LCY Technology Corp trades at 58.90 TWD, about 49% below its 52-week high of 116.50 TWD and 54% above the low of 38.25 TWD (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 44.19 TWD is for.
Which stocks are comparable to LCY Technology Corp?
From the same area (Basic Materials) we also value Southern Copper Corporation, Freeport-McMoRan Inc, First Quantum Minerals Ltd, Lundin Mining Corporation, 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 LCY Technology Corp stock attractive at the current price?
The data as of Nov 10, 2026: price 58.90 TWD, calculated fair value 44.19 TWD (−25%), Quality Score 45/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. LCY Technology Corp 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 LCY Technology Corp (4989)?
The closing price on Nov 10, 2026 was 58.90 TWD. Our estimate is 44.19 TWD, about 25% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LCY Technology Corp right now?
The price sits above even our optimistic bull case (55.24 TWD). The favourable scenario is already priced in. Weak quality (45/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of LCY Technology Corp

How large is the market capitalisation of LCY Technology Corp (4989)?
The market capitalisation of LCY Technology Corp is 10.2B TWD (≈ $309M). 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 LCY Technology Corp (4989)?
The price-to-sales ratio of LCY Technology Corp is 3.01 (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 LCY Technology Corp (4989)?
Earnings per share at LCY Technology Corp are −1.61 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of LCY Technology Corp (4989)?
The net margin of LCY Technology Corp is −6.6% (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 LCY Technology Corp (4989)?
The return on equity (ROE) of LCY Technology Corp is −14.9% (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 LCY Technology Corp (4989)?
On an EBIT basis the return on assets of LCY Technology Corp is −3.6% (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 LCY Technology Corp (4989)?
The operating margin of LCY Technology Corp is −10.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LCY Technology Corp (4989)?
Revenue at LCY Technology Corp is growing +44.5% versus a year earlier (3y avg −13.0%). 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 LCY Technology Corp (4989)?
Earnings per share at LCY Technology Corp are growing −98.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does LCY Technology Corp (4989) generate?
The free cash flow of LCY Technology Corp is −438M 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 LCY Technology Corp (4989) carry?
The net debt of LCY Technology Corp is 235M 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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