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Etron Technology (5351) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Etron Technology stock TWD 134, price TWD 84.00, upside +59.2%, quality 46 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Technology TW · ISIN TW0005351001

ET Etron Technology logo Thin data Nov 5, 2026

Etron Technology

5351 · TWO
Cheap, value-trap risk

The stock costs 37% less than our calculation considers fair.

Fair value 133.72 TWD · Strongly undervalued (37%)
Highly profitable · 20.6% net margin (TTM)
Low debt
Generates free cash flow over the last twelve months
Ranks above peers (8/12)
37% return on equity.
Quality 46/100
Expensive Growth (revenue YoY +16.2 %/yr in TWD)
Wide moat 66/100 · thin data
Thin data
⟳ Cyclical
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What runs behind every stock

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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

135.50 TWD 20.85 TWD Fair Value 133.72 TWD May 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range 20.85 TWD – 135.50 TWD · fair‑value band 88.38 TWD – 167.23 TWD · the 84.00 TWD price screens below the 133.72 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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Company profile

Etron Technology, Inc. design, production, and sells of various integrated circuits in Taiwan, Asia, and internationally.

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The company offers commercial DRAMs (dynamic random access memory) for high bandwidth and low-power consumption products, including computer peripheral, communication, and consumer products; industrial DRAMs that are used in surveillances, point of sale systems, smart meters, programmable logic controllers, and human-machine interface platforms; innovative DRAMs for AI, 5G, cloud computing, and automotive; and automotive DRAMs for use in CDs, DVDs, automotive HDDs, navigation products, instrument clusters, audios, automotive cameras, automotive infotainments, and advanced driver assistance systems.

It also provides known-good-die-memory integrated circuits and flash memory products; USB connectivity; and 3D sensing solutions. Etron Technology, Inc. was founded in 1991 and is headquartered in Hsinchu City, Taiwan.

Stock analysis

Etron Technology (5351) currently trades at 84.00 TWD, while our model-based Fair Value estimate is 133.72 TWD, implying the stock looks roughly 37% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 93/100, which puts the data coverage at low.

Scenario range: 88.38 TWD (bear) to 167.23 TWD (bull), the price of 84.00 TWD sits below 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 46/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Etron Technology reported revenue of 4.0B TWD in FY2025 versus 6.1B TWD in FY2021, a compound −10.0%/yr. Reported net income was −497M TWD in FY2025.

Key figures

Market cap 27.4B TWD (≈ $835M) Small · P/E ratio 13.2 · P/S ratio 2.66 · EPS (TTM) 6.38 TWD · Net margin 20.6% · Return on equity 36.7% · Return on assets (EBIT) −3.5% (5-year average) · Operating margin 35.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 66 out of 100 (low confidence).

What moves the price

The share trades about 38% below its 52-week high and 126% 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 59%, 5351 screens cheaper than that median.

Fair Value models

Bear 88.38 TWD Fair Value 133.72 TWD Bull 167.23 TWD
Price 84.00 TWD · Upside +59.2%
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 (5.45 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.
Best data coverage
NCAV (Graham) 88.38 TWD 133.72 TWD 167.23 TWD 54
All 1 models by family
Asset-Based
NCAV (Graham) 88.38 TWD 133.72 TWD 167.23 TWD 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 46/100

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

Profitability 9
How much profit the company makes from its sales and capital
Quality Growth 70
Are margins and returns getting better?
Cashflow 8
Do the profits arrive as real cash?
Financial strength 71
Debt, balance sheet and risk of trouble
Investment 91
Does it invest with discipline instead of growing at any price?
Low Volatility 23
How calm the share price moves, does not count
Price momentum 82
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 74
Distance to the 52-week high, does not count
New shares 61
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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
−5.8% (2020) → −14.3% (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

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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 · 370 stocks

Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside +59.2% · Top 25%
Profitability
Return on equity (12 months) 36.7% · Top 25%
Return on assets −6.5% · Bottom 25%
Net margin (12 months) 20.6% · Above median
Operating margin (12 months) 35.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 557.8% · Top 25%
Balance sheet
Debt / equity 0.35× · Highest 25%

Valuation Multiplesvs Semiconductors median · lower = cheaper

P/E (12 months) 13.2× · Cheapest 25%
P/B 7.00× · Priciest 25%
P/S (12 months) 2.66× · Cheaper than median
EV/EBITDA 11.7× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)100 · sector 100
PAST (return on equity)100 · sector 28
HEALTH (low debt)83 · sector 96
DIVIDEND (yield)0 · sector 20

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 Semiconductors stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
SK hynix Inc 000660 1,132,000 KRW 1,501,896 KRW +33% vs 5351
Taiwan Semiconductor Manufacturing Company TSM $375.44 $412.98 +10% vs 5351
NVIDIA Corporation NVDA $186.64 $198.56 +6% vs 5351
Broadcom Inc AVGO $293.69 $300.84 +2% vs 5351
Intel Corporation INTC $56.28 $52.14 −7% vs 5351
Micron Technology, Inc MU $690.00 $619.48 −10% vs 5351
Analog Devices, Inc ADI $363.56 $262.04 −28% vs 5351
Marvell Technology, Inc MRVL $141.20 $87.64 −38% vs 5351
Advanced Micro Devices, Inc AMD $449.04 $148.02 −67% vs 5351
Texas Instruments Incorporated TXN $277.36 $81.25 −71% vs 5351

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Etron Technology: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Etron Technology Fair Value". https://www.fairvalue-calculator.com/stock/5351

Frequently asked questions

Is Etron Technology (5351) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 133.72 TWD versus a price of 84.00 TWD, about +59% upside (undervalued).
What is the fair value of 5351?
Our model-based fair value for Etron Technology is 133.72 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 84.00 TWD.
What is the quality score of 5351?
Etron Technology has a Quality Score of 46/100. 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 Etron Technology (5351)?
Our model-based price target is the fair value of 133.72 TWD (as of Nov 5, 2026) from 1 valuation models. Cautious scenario 88.38 TWD, optimistic scenario 167.23 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Etron Technology stock forecast for 2026?
Our models put fair value at 133.72 TWD, about +59% upside versus a price of 84.00 TWD (undervalued). Cautious scenario 88.38 TWD, optimistic scenario 167.23 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Etron Technology (5351)?
Etron Technology reported trailing-twelve-month revenue of about 10.3B TWD (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of Etron Technology (5351)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Etron Technology it is 133.72 TWD per share (as of Nov 5, 2026), against a price of 84.00 TWD. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Etron Technology stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 5351 trades below its calculated fair value: price 84.00 TWD, fair value 133.72 TWD, a gap of about +59% (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 5351?
No. The price is what the market pays today (84.00 TWD); the fair value is what the company's own numbers justify (133.72 TWD). For Etron Technology the two are 49.72 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Etron Technology worth?
The market values Etron Technology at about 27.4B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 84.00 TWD; our models calculate a fair value of 133.72 TWD per share.
What do the bullish and bearish scenarios say about 5351?
Our models span a range for Etron Technology: cautious scenario 88.38 TWD, base 133.72 TWD, optimistic 167.23 TWD per share (as of Nov 5, 2026, price 84.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5351?
Etron Technology trades at a price-to-earnings ratio of 13.2 (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 133.72 TWD is built from several models across several years. Other multiples: P/B 7.0, P/S 2.7, EV/EBITDA 11.7.
How solid is the balance sheet of Etron Technology (5351)?
Balance-sheet figures for Etron Technology (as of Nov 5, 2026): return on equity 36.7%, debt of 0.35 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 5351 from its 52-week high?
Etron Technology trades at 84.00 TWD, about 38% below its 52-week high of 135.50 TWD and 126% above the low of 37.15 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 133.72 TWD is for.
Which stocks are comparable to Etron Technology?
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 Etron Technology stock attractive at the current price?
The data as of Nov 5, 2026: price 84.00 TWD, calculated fair value 133.72 TWD (+59%), Quality Score 46/100, from 1 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 5351 calculated?
We run Etron Technology through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 133.72 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 13.0% above its aggregate fair value. Etron Technology currently trades 37% 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 Etron Technology (5351)?
The closing price on Nov 6, 2026 was 84.00 TWD. Our model-based fair value is 133.72 TWD, about +59% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Etron Technology right now?
The large discount to fair value meets weak quality (46/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (88.38 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (88.38 TWD to 167.23 TWD) leaves room in how you read the outcome.

Key figures of Etron Technology

How large is the market capitalisation of Etron Technology (5351)?
The market capitalisation of Etron Technology is 27.4B TWD (≈ $835M). 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 Etron Technology (5351)?
The price-to-sales ratio of Etron Technology is 2.66 (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 Etron Technology (5351)?
Earnings per share at Etron Technology are 6.38 TWD (price ÷ EPS = P/E 13.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Etron Technology (5351)?
The net margin of Etron Technology is 20.6% (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 Etron Technology (5351)?
The return on equity (ROE) of Etron Technology is 36.7% (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 Etron Technology (5351)?
On an EBIT basis the return on assets of Etron Technology 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 Etron Technology (5351)?
The operating margin of Etron Technology is 35.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Etron Technology (5351)?
Revenue at Etron Technology is growing +558% versus a year earlier (3y avg −4.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Etron Technology (5351) generate?
The free cash flow of Etron Technology is −709M 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 Etron Technology (5351) carry?
The net debt of Etron Technology is 1.4B 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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