EASYCARD Corporation (6035) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of EASYCARD Corporation stock TWD 50.66, price TWD 47.75, upside +6.1%, quality 53 out of 100. Rating: fairly valued. Calculated from audited financials with 12 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 8, 2026.
How to read this chart
46‑month range 47.75 TWD – 125.26 TWD · fair‑value band 38.34 TWD – 62.28 TWD · the 47.75 TWD price screens below the 50.66 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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EASYCARD Corporation engages in the prepaid card sales and electronic payment clearing business in Taiwan and Japan. The company provides contactless smartcards for electronic transport ticket systems.
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Its smartcards are used as a tool for small-value payments at shops, such as convenience stores, supermarkets, and restaurants, as well as used at leisure facilities, hospitals, government agencies, and library self-checkout kiosks.
The company was formerly known as Taipei Smart Card Corporation and changed its name to EASYCARD Corporation in August 2008. The company was founded in 1990 and is based in Taipei, Taiwan. EASYCARD Corporation operates as a subsidiary of EasyCard Investment Holding Co., Ltd.
Stock analysis
EASYCARD Corporation (6035) currently trades at 47.75 TWD, while our model-based Fair Value estimate is 50.66 TWD, so the stock looks roughly fairly valued today (gap 5.7%).
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 63.10 TWD per share, and 5 of the 12 models we run sit above the 47.75 TWD price.
Bear case: the Economic Profit group reads lowest at 24.18 TWD, and 7 of the 12 models stay below the price. Data coverage for this calculation is high.
Scenario range: 38.34 TWD (bear) to 62.28 TWD (bull), the price of 47.75 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 53/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
EASYCARD Corporation reported revenue of 2.0B TWD in FY2025 versus 1.6B TWD in FY2021, a compound +5.0%/yr. Reported net income was 297M TWD in FY2025, compounding +64.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 3.4B TWD (≈ $103M) Micro · P/E ratio 10.2 · P/S ratio 1.69 · EPS (TTM) 4.70 TWD · Dividend yield 4.8% · Net margin 16.9% · Return on equity 27.5% · Return on assets (EBIT) 0.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at 6%, 6035 screens cheaper than that median.
Fair Value models
Bear38.34 TWDFair Value 50.66 TWDBull62.28 TWD
Price 47.75 TWD · Upside +6.1%
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 (2.08 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.81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.5%
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.
+6.0%
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.
+5.8%
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.
+3.1%
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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.
+26.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+21.2%
Dividend (yield on the price)4.8%
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.6% → 15%
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.Software - Infrastructure · 346 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+6.1% · Above median
Profitability
Return on equity (12 months)27.5% · Top 25%
Return on assets1.7% · Below median
Net margin (12 months)16.9% · Top 25%
Operating margin (12 months)11.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)3.5% · Below median
Dividend yield (12 months)4.8% · Top 25%
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
P/E (12 months)10.2× · Cheapest 25%
P/B2.60× · Pricier than median
P/S (12 months)1.69× · Cheaper than median
Price / free cash flow (fiscal year)12.8× · Cheaper than median
EV/EBITDA15.6× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)41· sector 25
FUTURE (revenue growth)18· sector 60
PAST (return on equity)100· sector 23
HEALTH (low debt)–
DIVIDEND (yield)95· sector 31
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
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). "EASYCARD Corporation Fair Value". https://www.fairvalue-calculator.com/stock/6035
Frequently asked questions
Is EASYCARD Corporation (6035) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 50.66 TWD versus a price of 47.75 TWD, about +6% upside (fairly valued).
What is the fair value of 6035?
Our model-based fair value for EASYCARD Corporation is 50.66 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 47.75 TWD.
What is the quality score of 6035?
EASYCARD Corporation has a Quality Score of 53/100. 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 EASYCARD Corporation (6035)?
Our model-based price target is the fair value of 50.66 TWD (as of Nov 8, 2026) from 12 valuation models. Cautious scenario 38.34 TWD, optimistic scenario 62.28 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the EASYCARD Corporation stock forecast for 2026?
Our models put fair value at 50.66 TWD, about +6% upside versus a price of 47.75 TWD (fairly valued). Cautious scenario 38.34 TWD, optimistic scenario 62.28 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of EASYCARD Corporation (6035)?
EASYCARD Corporation reported trailing-twelve-month revenue of about 2.0B TWD (latest available figure, as of Nov 8, 2026).
Does EASYCARD Corporation pay a dividend?
EASYCARD Corporation currently shows a dividend yield of 4.77% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of EASYCARD Corporation (6035) and when is the ex-dividend date?
EASYCARD Corporation pays a dividend of 2.28 TWD per share a year, a dividend yield of 4.8%. The last ex-dividend date was Jul 17, 2026. The payout ratio is 48.5% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of EASYCARD Corporation (6035)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EASYCARD Corporation it is 50.66 TWD per share (as of Nov 8, 2026), against a price of 47.75 TWD. It is the blended result of 12 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is EASYCARD Corporation stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 6035 trades below its calculated fair value: price 47.75 TWD, fair value 50.66 TWD, a gap of about +6% (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 6035?
No. The price is what the market pays today (47.75 TWD); the fair value is what the company's own numbers justify (50.66 TWD). For EASYCARD Corporation the two are 2.91 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is EASYCARD Corporation worth?
The market values EASYCARD Corporation at about 3.4B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 47.75 TWD; our models calculate a fair value of 50.66 TWD per share.
What do the bullish and bearish scenarios say about 6035?
Our models span a range for EASYCARD Corporation: cautious scenario 38.34 TWD, base 50.66 TWD, optimistic 62.28 TWD per share (as of Nov 8, 2026, price 47.75 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6035?
EASYCARD Corporation trades at a price-to-earnings ratio of 10.2 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 50.66 TWD is built from several models across several years. Other multiples: P/B 2.6, P/S 1.7, EV/EBITDA 15.6.
How solid is the balance sheet of EASYCARD Corporation (6035)?
Balance-sheet figures for EASYCARD Corporation (as of Nov 8, 2026): return on equity 27.5%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 6035 from its 52-week high?
EASYCARD Corporation trades at 47.75 TWD, about 25% below its 52-week high of 63.41 TWD and at the low of 47.75 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 50.66 TWD is for.
Which stocks are comparable to EASYCARD Corporation?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, 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 EASYCARD Corporation stock attractive at the current price?
The data as of Nov 8, 2026: price 47.75 TWD, calculated fair value 50.66 TWD (+6%), Quality Score 53/100, from 12 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 6035 calculated?
We run EASYCARD Corporation through 12 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 50.66 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. EASYCARD Corporation currently trades 6% 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 EASYCARD Corporation (6035)?
The closing price on Nov 6, 2026 was 47.75 TWD. Our model-based fair value is 50.66 TWD, about +6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EASYCARD Corporation 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.
Key figures of EASYCARD Corporation
How large is the market capitalisation of EASYCARD Corporation (6035)?
The market capitalisation of EASYCARD Corporation is 3.4B TWD (≈ $103M). 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 EASYCARD Corporation (6035)?
The price-to-sales ratio of EASYCARD Corporation is 1.69 (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 EASYCARD Corporation (6035)?
Earnings per share at EASYCARD Corporation are 4.70 TWD (price ÷ EPS = P/E 10.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of EASYCARD Corporation (6035)?
The dividend yield of EASYCARD Corporation is 4.8% (payout 48.5%). 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 EASYCARD Corporation (6035)?
The net margin of EASYCARD Corporation is 16.9% (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 EASYCARD Corporation (6035)?
The return on equity (ROE) of EASYCARD Corporation is 27.5% (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 EASYCARD Corporation (6035)?
On an EBIT basis the return on assets of EASYCARD Corporation is 0.9% (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 EASYCARD Corporation (6035)?
The operating margin of EASYCARD Corporation is 11.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EASYCARD Corporation (6035)?
Revenue at EASYCARD Corporation is growing +3.5% versus a year earlier (3y avg +6.0%). 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 EASYCARD Corporation (6035)?
Earnings per share at EASYCARD Corporation are growing +29.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does EASYCARD Corporation (6035) generate?
The free cash flow of EASYCARD Corporation is 264M 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 cash does EASYCARD Corporation (6035) hold?
EASYCARD Corporation holds more cash than debt, 665M TWD net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 8, 2026