TacBright Optronics Corporation (6434) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of TacBright Optronics Corporation stock TWD 1.71, price TWD 12.75, that is 86.6% below the price, quality 48 out of 100. Rating: strongly overvalued. Calculated from audited financials with 11 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 6, 2026.
How to read this chart
11‑month range 3.81 TWD – 36.50 TWD · fair‑value band 1.19 TWD – 2.48 TWD · the 12.75 TWD price screens above the 1.71 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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TacBright Optronics Corporation engages in the research, development, manufacturing, and sales of triacetate cellulose (TAC) films.
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Its products are used for protective film in liquid crystal displays (LCDs), as well as for sunglasses, photographic equipment filters, anti-glare goggles, car navigation, other polarizing microscopes, and special medical glasses.
The company serves LCD polarizer manufacturers in Taiwan, South Korea, Japan, and Mainland China. TacBright Optronics Corporation was founded in 1995 and is based in Miaoli, Taiwan.
Stock analysis
TacBright Optronics Corporation (6434) currently trades at 12.75 TWD, while our model-based Fair Value estimate is 1.71 TWD, 87% 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 3.24 TWD per share, and 0 of the 11 models we run sit above the 12.75 TWD price.
Bear case: the Growth DCF group reads lowest at 1.53 TWD, and 11 of the 11 models stay below the price. Data coverage for this calculation is low.
Scenario range: 1.19 TWD (bear) to 2.48 TWD (bull), the price of 12.75 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 48/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
TacBright Optronics Corporation reported revenue of 1.2B TWD in FY2025 versus 1.8B TWD in FY2021, a compound −9.3%/yr. Reported net income was −115M TWD in FY2025.
Key figures
Market cap 5.9B TWD (≈ $178M) Micro · P/S ratio 5.73 · EPS (TTM) −0.1600 TWD · Net margin −6.1% · Return on equity −3.6% · Return on assets (EBIT) −1.8% (5-year average) · Operating margin 1.0% · Revenue (TTM) 1.2B TWD.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 15 out of 100 (medium confidence).
What moves the price
The share trades about 65% below its 52-week high and 235% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −41% fair-value upside, at −87%, 6434 screens richer than that median.
Fair Value models
Bear1.19 TWDFair Value 1.71 TWDBull2.48 TWD
Price 12.75 TWD · Downside -86.6%
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.18/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−6.4%
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.
+1.2%
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.
−5.3%
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.
−4.0%
’19
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’21
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’23
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’25
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.
2.8% (2020) → −7.2% (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
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).
+53.7%
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 +51.3% a year for the price.
Compare TacBright Optronics Corporation 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.Specialty Chemicals · 726 stocks
Beats the industry median on 1/11 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−86.6% · Bottom 25%
Profitability
Return on assets−3.7% · Bottom 25%
Net margin (12 months)−6.1% · Bottom 25%
Operating margin (12 months)1.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−1.1% · Bottom 25%
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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Is TacBright Optronics Corporation (6434) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 1.71 TWD versus a price of 12.75 TWD, about 87% lower (overvalued).
What is the fair value of 6434?
Our model-based fair value for TacBright Optronics Corporation is 1.71 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 12.75 TWD.
What is the quality score of 6434?
TacBright Optronics Corporation has a Quality Score of 48/100. 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 TacBright Optronics Corporation (6434)?
Our model-based price target is the fair value of 1.71 TWD (as of Nov 6, 2026) from 11 valuation models. Cautious scenario 1.19 TWD, optimistic scenario 2.48 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the TacBright Optronics Corporation stock forecast for 2026?
Our models put fair value at 1.71 TWD, about 87% lower versus a price of 12.75 TWD (overvalued). Cautious scenario 1.19 TWD, optimistic scenario 2.48 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of TacBright Optronics Corporation (6434)?
TacBright Optronics Corporation reported trailing-twelve-month revenue of about 1.2B TWD (latest available figure, as of Nov 6, 2026).
What growth is priced into TacBright Optronics Corporation (6434)?
For today's price to be fair in a discounted-cash-flow model, TacBright Optronics Corporation would have to grow free cash flow by +53.7 % 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 -5.3 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 6434 use?
Our models discount TacBright Optronics Corporation at 15.8 %: a base by market capitalisation (micro), damped by beta 3.35, 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 TacBright Optronics Corporation that is +53.7 % 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 TacBright Optronics Corporation (6434) delivered so far?
Over the past 5 years revenue at TacBright Optronics Corporation grew -5.3 % a year. The price currently implies free-cash-flow growth of +53.7 % 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 TacBright Optronics Corporation (6434) growing?
The median revenue growth in the sector is +10.9 % a year. That is the yardstick for the growth priced into TacBright Optronics Corporation (+53.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TacBright Optronics Corporation (6434)?
The free-cash-flow yield on the price is 1.38 %: that much free cash flow TacBright Optronics Corporation 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 TacBright Optronics Corporation (6434)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TacBright Optronics Corporation it is 1.71 TWD per share (as of Nov 6, 2026), against a price of 12.75 TWD. It is the blended result of 11 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is TacBright Optronics Corporation stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 6434 trades above its calculated fair value: price 12.75 TWD, fair value 1.71 TWD, a gap of about −87% (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 6434?
No. The price is what the market pays today (12.75 TWD); the fair value is what the company's own numbers justify (1.71 TWD). For TacBright Optronics Corporation the two are 11.04 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is TacBright Optronics Corporation worth?
The market values TacBright Optronics Corporation at about 5.9B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 12.75 TWD; our models calculate a fair value of 1.71 TWD per share.
What do the bullish and bearish scenarios say about 6434?
Our models span a range for TacBright Optronics Corporation: cautious scenario 1.19 TWD, base 1.71 TWD, optimistic 2.48 TWD per share (as of Nov 6, 2026, price 12.75 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of TacBright Optronics Corporation (6434)?
Balance-sheet figures for TacBright Optronics Corporation (as of Nov 6, 2026): return on equity −3.6%, debt of 0.09 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 6434 from its 52-week high?
TacBright Optronics Corporation trades at 12.75 TWD, about 65% below its 52-week high of 36.50 TWD and 235% above the low of 3.81 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 1.71 TWD is for.
Which stocks are comparable to TacBright Optronics Corporation?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics 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 TacBright Optronics Corporation stock attractive at the current price?
The data as of Nov 6, 2026: price 12.75 TWD, calculated fair value 1.71 TWD (−87%), Quality Score 48/100, from 11 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 6434 calculated?
We run TacBright Optronics Corporation through 11 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of 1.71 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. TacBright Optronics Corporation 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 TacBright Optronics Corporation (6434)?
The closing price on Nov 9, 2026 was 12.75 TWD. Our model-based fair value is 1.71 TWD, about 87% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TacBright Optronics Corporation right now?
The price sits above even our optimistic bull case (2.48 TWD). The favourable scenario is already priced in. Weak quality (48/100) and above fair value at the same time, the margin of safety is missing on both counts. 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 (1.19 TWD to 2.48 TWD) leaves room in how you read the outcome.
Key figures of TacBright Optronics Corporation
How large is the market capitalisation of TacBright Optronics Corporation (6434)?
The market capitalisation of TacBright Optronics Corporation is 5.9B TWD (≈ $178M). 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 TacBright Optronics Corporation (6434)?
The price-to-sales ratio of TacBright Optronics Corporation is 5.73 (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 TacBright Optronics Corporation (6434)?
Earnings per share at TacBright Optronics Corporation are −0.1600 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of TacBright Optronics Corporation (6434)?
The net margin of TacBright Optronics Corporation is −6.1% (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 TacBright Optronics Corporation (6434)?
The return on equity (ROE) of TacBright Optronics Corporation is −3.6% (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 TacBright Optronics Corporation (6434)?
On an EBIT basis the return on assets of TacBright Optronics Corporation is −1.8% (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 TacBright Optronics Corporation (6434)?
The operating margin of TacBright Optronics Corporation is 1.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TacBright Optronics Corporation (6434)?
Revenue at TacBright Optronics Corporation is growing −1.1% versus a year earlier (3y avg +1.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does TacBright Optronics Corporation (6434) carry?
The net debt of TacBright Optronics Corporation is 681M TWD (fiscal year 2025, ≈ 8.3 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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Thin data
Nov 6, 2026