Waffer Technology Corp (6235) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Waffer Technology Corp stock TWD 28.85, price TWD 30.80, that is 6.3% below the price, quality 46 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 8, 2026.
How to read this chart
60‑month range 15.62 TWD – 172.00 TWD · fair‑value band 15.98 TWD – 37.89 TWD · the 30.80 TWD price screens above the 28.85 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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Waffer Technology Corporation engages in the production and sale of magnesium aluminum alloy molded products in the Mainland of China, Taiwan, Vietnam, Germany, the United States, and internationally.
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The company's products include cosmetic and internal parts for notebooks; handheld scanners and mobile phone; camera, video cam, projector, and monitoring optical parts; and auto parts, as well as other products, such as wearable, tools, sports, and others.
It is also involved in the provision of light-metal solution of magnesium and aluminum alloy, mold and tooling research and development, magnesium alloy injection and die-casting, CNC, and painting and assembly of vertical integration OEM/ODM processing services.
Additionally, the company manufactures and processes automotive aluminum alloy die-cast tools, 3C product magnesium injection tools, other light metal die-casting tools, and fixtures and gauges.
It serves medical, industrial, telecommunications, construction, automotive, sporting goods, aeronautical, transportation, national defense, and other industries. The company was formerly known as Waffer Industrial Company, Limited and changed its name to Waffer Technology Corporation in 2000.
Waffer Technology Corporation was founded in 1950 and is based in Taipei, Taiwan.
Stock analysis
Waffer Technology Corp (6235) currently trades at 30.80 TWD, while our model-based Fair Value estimate is 28.85 TWD, so the stock looks roughly fairly valued today (gap 6.8%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 54.11 TWD per share, and 19 of the 26 models we run sit above the 30.80 TWD price.
Bear case: the Dividend Discount group reads lowest at 14.95 TWD, and 7 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 15.98 TWD (bear) to 37.89 TWD (bull), the price of 30.80 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 46/100 (below-average quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Waffer Technology Corp reported revenue of 6.6B TWD in FY2025 versus 2.8B TWD in FY2021, a compound +23.8%/yr. Reported net income was 580M TWD in FY2025, compounding +37.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 6.2B TWD (≈ $188M) Micro · P/E ratio 19.1 · P/S ratio 0.92 · EPS (TTM) 1.61 TWD · Dividend yield 3.9% · Net margin 4.8% · Return on equity 6.9% · Return on assets (EBIT) 6.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).
What moves the price
The share trades about 55% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −39% fair-value upside, at −6%, 6235 screens cheaper than that median.
Fair Value models
Bear15.98 TWDFair Value 28.85 TWDBull37.89 TWD
Price 30.80 TWD · Downside -6.3%
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 (0.3516 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
FCF DCF20.02 TWD33.11 TWD52.28 TWD79
Growth DCF19.67 TWD31.09 TWD46.71 TWD78
Residual Income21.09 TWD23.32 TWD28.09 TWD76
All 26 models by family
DCF Models
FCF DCF20.02 TWD33.11 TWD52.28 TWD79
Owner Earnings12.18 TWD20.49 TWD32.66 TWD75
5Y Revenue Exit24.19 TWD43.70 TWD70.14 TWD71
5Y EBITDA Exit39.15 TWD74.31 TWD118.60 TWD73
5Y P/E Exit32.14 TWD59.95 TWD91.71 TWD69
10Y Revenue Exit21.34 TWD37.83 TWD62.89 TWD65
10Y EBITDA Exit30.86 TWD57.54 TWD98.41 TWD66
10Y P/E Exit26.76 TWD48.30 TWD78.70 TWD62
Earnings-Based
Graham-Dodd19.72 TWD89.62 TWD122.93 TWD64
Lynch FV23.45 TWD33.50 TWD43.55 TWD61
PEG = 1.023.45 TWD33.50 TWD43.55 TWD57
EPV16.07 TWD18.30 TWD20.13 TWD74
Dividend Discount
Gordon GGM8.94 TWD15.47 TWD20.59 TWD68
DDM Multi-Stage8.94 TWD14.43 TWD16.59 TWD67
Multiples
P/E Multiple45.68 TWD60.91 TWD76.14 TWD63
P/S Multiple36.98 TWD49.31 TWD61.64 TWD58
P/B Multiple33.86 TWD45.14 TWD56.43 TWD55
EV/EBIT36.17 TWD49.80 TWD63.43 TWD66
EV/EBITDA53.71 TWD73.19 TWD92.66 TWD67
EV/Revenue24.47 TWD36.97 TWD49.48 TWD53
Asset-Based
NCAV (Graham)12.47 TWD16.71 TWD24.94 TWD54
Growth DCF
Growth DCF19.67 TWD31.09 TWD46.71 TWD78
Rev-Margin DCF24.19 TWD43.18 TWD67.51 TWD71
Economic Profit
Residual Income21.09 TWD23.32 TWD28.09 TWD76
ROIC Compounder16.07 TWD18.30 TWD20.13 TWD72
Growth Earnings
Growth-Adj P/E37.88 TWD54.11 TWD70.35 TWD67
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.7%
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.
+16.8%
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.
+27.1%
Start year 2020 (pandemic). Over 10 years: +14.2% 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.
+7.1%
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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.
+8.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.6%
Dividend (yield on the price)3.9%
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.4.6% vs −3.4%, picking up
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.36% → 10%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less 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).
+12.6%
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 +10.9% a year for the price.
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.Metal Fabrication · 260 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside−6.3% · Above median
Profitability
Return on equity (12 months)6.9% · Above median
Return on assets5.6% · Above median
Net margin (12 months)4.8% · Above median
Operating margin (12 months)5.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)−6.0% · Bottom 25%
Dividend yield (12 months)3.9% · Top 25%
Balance sheet
Debt / equity0.27× · Above median
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
P/E (12 months)19.1× · Cheaper than median
P/B1.23× · Cheaper than median
P/S (12 months)0.92× · Cheaper than median
Price / free cash flow (fiscal year)15.6× · Cheaper than median
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Is Waffer Technology Corp (6235) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 28.85 TWD versus a price of 30.80 TWD, about 6% lower (fairly valued).
What is the fair value of 6235?
Our model-based fair value for Waffer Technology Corp is 28.85 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 30.80 TWD.
What is the quality score of 6235?
Waffer Technology Corp 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 Waffer Technology Corp (6235)?
Our model-based price target is the fair value of 28.85 TWD (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 15.98 TWD, optimistic scenario 37.89 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Waffer Technology Corp stock forecast for 2026?
Our models put fair value at 28.85 TWD, about 6% lower versus a price of 30.80 TWD (fairly valued). Cautious scenario 15.98 TWD, optimistic scenario 37.89 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Waffer Technology Corp (6235)?
Waffer Technology Corp reported trailing-twelve-month revenue of about 6.7B TWD (latest available figure, as of Nov 8, 2026).
Does Waffer Technology Corp pay a dividend?
Waffer Technology Corp currently shows a dividend yield of 3.90% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Waffer Technology Corp (6235) and when is the ex-dividend date?
Waffer Technology Corp pays a dividend of 1.20 TWD per share a year, a dividend yield of 3.9%. The last ex-dividend date was Mar 20, 2026. The payout ratio is 74.5% of earnings. Free cash flow covers the dividend 1.65 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Waffer Technology Corp (6235)?
For today's price to be fair in a discounted-cash-flow model, Waffer Technology Corp would have to grow free cash flow by +12.6 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +27.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 6235 use?
Our models discount Waffer Technology Corp at 11.8 %: a base by market capitalisation (micro), damped by beta 0.42, 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 Waffer Technology Corp that is +12.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Waffer Technology Corp (6235) delivered so far?
Over the past 5 years revenue at Waffer Technology Corp grew +27.1 % a year. The price currently implies free-cash-flow growth of +12.6 % 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 Waffer Technology Corp (6235) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Waffer Technology Corp (+12.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Waffer Technology Corp (6235)?
The free-cash-flow yield on the price is 6.32 %: that much free cash flow Waffer Technology Corp produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Waffer Technology Corp (6235)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Waffer Technology Corp it is 28.85 TWD per share (as of Nov 8, 2026), against a price of 30.80 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 Waffer Technology Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 6235 trades above its calculated fair value: price 30.80 TWD, fair value 28.85 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 6235?
No. The price is what the market pays today (30.80 TWD); the fair value is what the company's own numbers justify (28.85 TWD). For Waffer Technology Corp the two are 1.95 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Waffer Technology Corp worth?
The market values Waffer Technology Corp at about 6.2B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 30.80 TWD; our models calculate a fair value of 28.85 TWD per share.
What do the bullish and bearish scenarios say about 6235?
Our models span a range for Waffer Technology Corp: cautious scenario 15.98 TWD, base 28.85 TWD, optimistic 37.89 TWD per share (as of Nov 8, 2026, price 30.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6235?
Waffer Technology Corp trades at a price-to-earnings ratio of 19.1 (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 28.85 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 21.6. Other multiples: P/B 1.2, P/S 0.9, EV/EBITDA 6.0.
How solid is the balance sheet of Waffer Technology Corp (6235)?
Balance-sheet figures for Waffer Technology Corp (as of Nov 8, 2026): return on equity 6.9%, debt of 0.27 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 6235 from its 52-week high?
Waffer Technology Corp trades at 30.80 TWD, about 55% below its 52-week high of 69.00 TWD and 5% above the low of 29.20 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 28.85 TWD is for.
Which stocks are comparable to Waffer Technology Corp?
From the same area (Industrials) we also value ATI Inc, Carpenter Technology Corporation, Mueller Industries, Inc, Bharat Forge Limited, 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 Waffer Technology Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 30.80 TWD, calculated fair value 28.85 TWD (−6%), Quality Score 46/100, 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 6235 calculated?
We run Waffer 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 28.85 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. Waffer 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 Waffer Technology Corp (6235)?
The closing price on Nov 9, 2026 was 30.80 TWD. Our model-based fair value is 28.85 TWD, about 6% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Waffer Technology Corp right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (15.98 TWD to 37.89 TWD) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Waffer Technology Corp (6235) come from?
Earnings per share at Waffer Technology Corp grew −2.4 % a year from 2015 to 2025. Broken into its drivers: revenue per share +11.7 %, EBIT margin +33.1 %, tax rate −2.5 %, residual (interest, one-offs) −32.7 %. 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 Waffer Technology Corp
How large is the market capitalisation of Waffer Technology Corp (6235)?
The market capitalisation of Waffer Technology Corp is 6.2B TWD (≈ $188M). 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 Waffer Technology Corp (6235)?
The price-to-sales ratio of Waffer Technology Corp is 0.92 (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 Waffer Technology Corp (6235)?
Earnings per share at Waffer Technology Corp are 1.61 TWD (price ÷ EPS = P/E 19.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Waffer Technology Corp (6235)?
The dividend yield of Waffer Technology Corp is 3.9% (payout 74.5%). 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 Waffer Technology Corp (6235)?
The net margin of Waffer Technology Corp is 4.8% (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 Waffer Technology Corp (6235)?
The return on equity (ROE) of Waffer Technology Corp is 6.9% (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 Waffer Technology Corp (6235)?
On an EBIT basis the return on assets of Waffer Technology Corp is 6.8% (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 Waffer Technology Corp (6235)?
The operating margin of Waffer Technology Corp is 5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Waffer Technology Corp (6235)?
Revenue at Waffer Technology Corp is growing −6.0% versus a year earlier (3y avg +16.8%). 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 Waffer Technology Corp (6235)?
Earnings per share at Waffer Technology Corp are growing −90.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Waffer Technology Corp (6235) carry?
The net debt of Waffer Technology Corp is 941M TWD (fiscal year 2025, ≈ 2.4 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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Thin data
Nov 8, 2026