Polytronics Technology Corp (6224) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Polytronics Technology Corp stock TWD 15.05, price TWD 59.80, that is 74.8% below the price, quality 57 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 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
60‑month range 35.17 TWD – 161.47 TWD · fair‑value band 11.41 TWD – 19.40 TWD · the 59.80 TWD price screens above the 15.05 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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Polytronics Technology Corp. manufactures and sells polymeric positive temperature coefficient (PPTC) thermistors products.
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It provides over current protection devices, such as EVERFUSE PPTC devices, current limiting module, surface mount fuses, electronic fuses, and current sensing resistors; over voltage protection devices, which includes transient voltage suppressor, thyristor surge suppressor, electrostatic discharge protector, metal oxide varistor, and gas discharge tube; and thermal management solutions, including thermally conductive board, thermally setable pad, thermally radiation material, and thermal conductive ink.
The company also engages in the production and sale of potentiometers, discrete semiconductor devices, and other resistive elements. In addition, the company offers modules, molds, heat dissipation substrates, heat dissipation modules and materials, and LED lighting fixtures and modules.
Its products are used in electronic device protection, energy storage systems, battery protection, industrial automation, household appliances, automotive electronic systems, and security products. Polytronics Technology Corp. was incorporated in 1997 and is based in Hsinchu City, Taiwan.
Stock analysis
Polytronics Technology Corp (6224) currently trades at 59.80 TWD, while our model-based Fair Value estimate is 15.05 TWD, 75% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 19.91 TWD per share, and 0 of the 24 models we run sit above the 59.80 TWD price.
Bear case: the Earnings-Based group reads lowest at 4.26 TWD, and 24 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 11.41 TWD (bear) to 19.40 TWD (bull), the price of 59.80 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 57/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Polytronics Technology Corp reported revenue of 2.9B TWD in FY2025 versus 3.1B TWD in FY2021, a compound −1.9%/yr. Reported net income was 57.0M TWD in FY2025, compounding −42.2%/yr from FY2021.
Key figures
Market cap 5.1B TWD (≈ $154M) Micro · P/E ratio 50.3 · P/S ratio 1.77 · EPS (TTM) 1.19 TWD · Dividend yield 2.1% · Net margin 3.6% · Return on equity 2.8% · Return on assets (EBIT) 1.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 37% below its 52-week high and 57% 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 −75%, 6224 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (3.33 TWD to 58.16 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear11.41 TWDFair Value 15.05 TWDBull19.40 TWD
Price 59.80 TWD · Downside -74.8%
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.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.70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.5%
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.
−1.0%
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.
+10.0%
Start year 2020 (pandemic). Over 10 years: +5.5% a year
Revenue growth 23 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.
+8.8%
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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. Basis: EBIT basis. 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.
−55.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−58.0%
Dividend (yield on the price)2.1%
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.−32.3% vs −17.6%, 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.24% → 0%
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).
+27.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +25.7% a year for the price.
Compare Polytronics 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.Electronic Components · 653 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−74.8% · Bottom 25%
Profitability
Return on equity (12 months)2.8% · Below median
Return on assets3.0% · Below median
Net margin (12 months)7.5% · Above median
Operating margin (12 months)8.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)0.5% · Below median
Dividend yield (12 months)2.1% · Above median
Balance sheet
Debt / equity0.06× · Below median
Valuation Multiplesvs Electronic Components median · lower = cheaper
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Is Polytronics Technology Corp (6224) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 15.05 TWD versus a price of 59.80 TWD, about 75% lower (overvalued).
What is the fair value of 6224?
Our model-based fair value for Polytronics Technology Corp is 15.05 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 59.80 TWD.
What is the quality score of 6224?
Polytronics Technology Corp has a Quality Score of 57/100. 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 Polytronics Technology Corp (6224)?
Our model-based price target is the fair value of 15.05 TWD (as of Nov 8, 2026) from 24 valuation models. Cautious scenario 11.41 TWD, optimistic scenario 19.40 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Polytronics Technology Corp stock forecast for 2026?
Our models put fair value at 15.05 TWD, about 75% lower versus a price of 59.80 TWD (overvalued). Cautious scenario 11.41 TWD, optimistic scenario 19.40 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Polytronics Technology Corp (6224)?
Polytronics Technology Corp reported trailing-twelve-month revenue of about 2.9B TWD (latest available figure, as of Nov 8, 2026).
Does Polytronics Technology Corp pay a dividend?
Polytronics Technology Corp currently shows a dividend yield of 2.09% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Polytronics Technology Corp (6224) and when is the ex-dividend date?
Polytronics Technology Corp pays a dividend of 1.25 TWD per share a year, a dividend yield of 2.1%. The last ex-dividend date was Apr 16, 2026. The payout ratio is 105% of earnings. Free cash flow covers the dividend 1.69 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Polytronics Technology Corp (6224)?
For today's price to be fair in a discounted-cash-flow model, Polytronics Technology Corp would have to grow free cash flow by +27.7 % per year for five years (discount rate 15.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.1 % per year. Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 6224 use?
Our models discount Polytronics Technology Corp at 15.8 %: a base by market capitalisation (micro), damped by beta 1.84, 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 Polytronics Technology Corp that is +27.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (15.8 %) and the same formula as our fair value.
How much growth has Polytronics Technology Corp (6224) delivered so far?
Over the past 5 years revenue at Polytronics Technology Corp grew +10.1 % a year. The price currently implies free-cash-flow growth of +27.7 % 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 Polytronics Technology Corp (6224) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Polytronics Technology Corp (+27.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Polytronics Technology Corp (6224)?
The free-cash-flow yield on the price is 3.67 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Polytronics Technology Corp produces per unit of market value. When it exceeds the discount rate of our models (15.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Polytronics Technology Corp (6224)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Polytronics Technology Corp it is 15.05 TWD per share (as of Nov 8, 2026), against a price of 59.80 TWD. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Polytronics Technology Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 6224 trades above its calculated fair value: price 59.80 TWD, fair value 15.05 TWD, a gap of about −75% (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 6224?
No. The price is what the market pays today (59.80 TWD); the fair value is what the company's own numbers justify (15.05 TWD). For Polytronics Technology Corp the two are 44.75 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Polytronics Technology Corp worth?
The market values Polytronics Technology Corp at about 5.1B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 59.80 TWD; our models calculate a fair value of 15.05 TWD per share.
What do the bullish and bearish scenarios say about 6224?
Our models span a range for Polytronics Technology Corp: cautious scenario 11.41 TWD, base 15.05 TWD, optimistic 19.40 TWD per share (as of Nov 8, 2026, price 59.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6224?
Polytronics Technology Corp trades at a price-to-earnings ratio of 50.3 (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 15.05 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 20.3. Other multiples: P/B 2.3, P/S 3.7, EV/EBITDA 41.4.
How solid is the balance sheet of Polytronics Technology Corp (6224)?
Balance-sheet figures for Polytronics Technology Corp (as of Nov 8, 2026): return on equity 2.8%, debt of 0.06 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 6224 from its 52-week high?
Polytronics Technology Corp trades at 59.80 TWD, about 37% below its 52-week high of 95.00 TWD and 57% above the low of 38.20 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 15.05 TWD is for.
Which stocks are comparable to Polytronics Technology Corp?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, 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 Polytronics Technology Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 59.80 TWD, calculated fair value 15.05 TWD (−75%), Quality Score 57/100, from 24 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 6224 calculated?
We run Polytronics Technology Corp through 24 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 15.05 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. Polytronics 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 Polytronics Technology Corp (6224)?
The closing price on Nov 9, 2026 was 59.80 TWD. Our model-based fair value is 15.05 TWD, about 75% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Polytronics Technology Corp right now?
The price sits above even our optimistic bull case (19.40 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Polytronics Technology Corp (6224) come from?
Earnings per share at Polytronics Technology Corp grew −12.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.8 %, EBIT margin −25.1 %, tax rate −3.0 %, residual (interest, one-offs) +14.0 %. 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 Polytronics Technology Corp
How large is the market capitalisation of Polytronics Technology Corp (6224)?
The market capitalisation of Polytronics Technology Corp is 5.1B TWD (≈ $154M). 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 Polytronics Technology Corp (6224)?
The price-to-sales ratio of Polytronics Technology Corp is 1.77 (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 Polytronics Technology Corp (6224)?
Earnings per share at Polytronics Technology Corp are 1.19 TWD (price ÷ EPS = P/E 50.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Polytronics Technology Corp (6224)?
The dividend yield of Polytronics Technology Corp is 2.1% (payout 105%). 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 Polytronics Technology Corp (6224)?
The net margin of Polytronics Technology Corp is 3.6% (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 Polytronics Technology Corp (6224)?
The return on equity (ROE) of Polytronics Technology Corp is 2.8% (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 Polytronics Technology Corp (6224)?
On an EBIT basis the return on assets of Polytronics Technology Corp is 1.1% (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 Polytronics Technology Corp (6224)?
The operating margin of Polytronics Technology Corp is 8.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Polytronics Technology Corp (6224)?
Revenue at Polytronics Technology Corp is growing +0.5% versus a year earlier (3y avg −1.0%). 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 Polytronics Technology Corp (6224)?
Earnings per share at Polytronics Technology Corp are growing +82.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Polytronics Technology Corp (6224) carry?
The net debt of Polytronics Technology Corp is 229M TWD (fiscal year 2025, ≈ 1.3 yrs of FCF). 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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Broad data
Nov 8, 2026