GlobalWafers Co Ltd (6488) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of GlobalWafers Co Ltd stock TWD 189, price TWD 564, that is 66.6% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 256.16 TWD – 1,509 TWD · fair‑value band 180.97 TWD – 230.72 TWD · the 564.00 TWD price screens above the 188.58 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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GlobalWafers Co., Ltd., together with its subsidiaries, researches, develops, designs, manufactures and sells semiconductor ingots/wafers in Taiwan and internationally.
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The company offers Epi wafers, polished wafers, diffusion wafers, annealed wafers, SOI wafers, FZ wafers, and compound wafers, as well as epitaxial wafer and silicon ingot. It also provides technical and management information consulting services.
The company was founded in 1981 and is based in Hsinchu City, Taiwan.
Stock analysis
GlobalWafers Co Ltd (6488) currently trades at 564.00 TWD, while our model-based Fair Value estimate is 188.58 TWD, 67% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 368.86 TWD per share, and 1 of the 16 models we run sit above the 564.00 TWD price.
Bear case: the Economic Profit group reads lowest at 24.18 TWD, and 15 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 180.97 TWD (bear) to 230.72 TWD (bull), the price of 564.00 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 42/100 (below-average quality), in the Technology sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
GlobalWafers Co Ltd reported revenue of 60.6B TWD in FY2025 versus 61.1B TWD in FY2021, a compound −0.2%/yr. Reported net income was 7.3B TWD in FY2025, compounding −11.4%/yr from FY2021.
Key figures
Market cap 421B TWD (≈ $12.8B) Large · P/E ratio 27.4 · P/S ratio 4.63 · EPS (TTM) 20.57 TWD · Dividend yield 1.0% · Net margin 16.9% · Return on equity 10.9% · Return on assets (EBIT) 8.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 63% below its 52-week high and 65% above 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 −67%, 6488 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (24.18 TWD to 717.72 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear180.97 TWDFair Value 188.58 TWDBull230.72 TWD
Price 564.00 TWD · Downside -66.6%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (12.59 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
Residual Income148.61 TWD154.86 TWD167.51 TWD76
EPV16.10 TWD24.18 TWD30.76 TWD73
ROIC Compounder16.10 TWD24.18 TWD30.76 TWD71
All 16 models by family
Earnings-Based
Graham-Dodd104.00 TWD322.40 TWD428.61 TWD65
Lynch FV69.91 TWD99.87 TWD129.83 TWD61
PEG = 1.069.91 TWD99.87 TWD129.83 TWD57
EPV16.10 TWD24.18 TWD30.76 TWD73
Dividend Discount
Gordon GGM78.10 TWD132.38 TWD173.38 TWD68
DDM Multi-Stage78.10 TWD117.85 TWD142.27 TWD67
Multiples
P/E Multiple321.16 TWD428.22 TWD535.27 TWD63
P/S Multiple194.99 TWD259.99 TWD324.99 TWD58
P/B Multiple538.29 TWD717.72 TWD897.15 TWD55
EV/EBIT210.56 TWD318.93 TWD427.30 TWD65
EV/EBITDA381.95 TWD547.46 TWD712.96 TWD67
EV/Revenue49.81 TWD120.25 TWD190.69 TWD50
Asset-Based
NCAV (Graham)94.73 TWD126.94 TWD189.47 TWD54
Economic Profit
Residual Income148.61 TWD154.86 TWD167.51 TWD76
ROIC Compounder16.10 TWD24.18 TWD30.76 TWD71
Growth Earnings
Growth-Adj P/E258.20 TWD368.86 TWD479.52 TWD67
The fair value above starts from this blend and is adjusted for a cyclical trough 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.22/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−3.2%
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.
−4.8%
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.
+1.8%
Start year 2020 (pandemic). Over 10 years: +14.7% a year
Revenue growth 13 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.
+11.9%
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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.
−11.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.6%
Dividend (yield on the price)1.0%
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.−12.6% vs 10.2%, 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.30% → 14%
AI conclusion: The deepening Micron partnership supports US wafer capacity expansion while negative free cash flow and production disruptions remain the main weaknesses.
Main risk: Aggressive expansion by Chinese producers such as National Silicon Industry Group could increase global 300 mm supply and exert downward pressure on prices or margins for established players including GlobalWafers.
Bull case: GlobalWafers could use its multi-continent footprint and long-term agreements with AI-driven customers like Micron to secure premium pricing and higher utilization, offsetting pressures through localized supply and specialty products.
Bear case: If Chinese capacity ramps rapidly and depreciation from new plants weighs on results, GlobalWafers could face sustained margin compression and reduced ability to fund further differentiation in advanced or specialty wafers.
GlobalWafers is deepening its partnership with Micron through a long-term supply agreement backed by strategic financing to expand US wafer capacity. A fire at its Italian site disrupted recent production and slowed quarterly shipments, with full recovery still ahead. Our models see the stock as overvalued. Will the tighter customer tie drive sustained US growth that outweighs the lingering operational drag?
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.Semiconductors · 372 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside−66.6% · Below median
Profitability
Return on equity (12 months)10.9% · Above median
Return on assets3.4% · Above median
Net margin (12 months)16.9% · Above median
Operating margin (12 months)9.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)−5.0% · Bottom 25%
Dividend yield (12 months)1.0% · Above median
Balance sheet
Debt / equity0.46× · Highest 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (12 months)27.4× · Cheaper than median
P/B4.51× · Pricier than median
P/S (12 months)7.23× · Pricier than median
EV/EBITDA29.3× · Pricier than median
PEG1.01× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 100
PAST (return on equity)43· sector 28
HEALTH (low debt)77· sector 96
DIVIDEND (yield)20· sector 20
VALUE 0: the price sits above our fair-value range.
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). "GlobalWafers Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6488
Frequently asked questions
Is GlobalWafers Co Ltd (6488) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 188.58 TWD versus a price of 564.00 TWD, about 67% lower (overvalued).
What is the fair value of 6488?
Our model-based fair value for GlobalWafers Co Ltd is 188.58 TWD (as of Nov 3, 2026), built from audited fundamentals. The current price: 564.00 TWD.
What is the quality score of 6488?
GlobalWafers Co Ltd has a Quality Score of 42/100. 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 GlobalWafers Co Ltd (6488)?
Our model-based price target is the fair value of 188.58 TWD (as of Nov 3, 2026) from 16 valuation models. Cautious scenario 180.97 TWD, optimistic scenario 230.72 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the GlobalWafers Co Ltd stock forecast for 2026?
Our models put fair value at 188.58 TWD, about 67% lower versus a price of 564.00 TWD (overvalued). Cautious scenario 180.97 TWD, optimistic scenario 230.72 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of GlobalWafers Co Ltd (6488)?
GlobalWafers Co Ltd reported trailing-twelve-month revenue of about 58.2B TWD (latest available figure, as of Nov 3, 2026).
Does GlobalWafers Co Ltd pay a dividend?
GlobalWafers Co Ltd currently shows a dividend yield of 1.01% relative to its recent price (as of Nov 3, 2026).
What is the intrinsic value of GlobalWafers Co Ltd (6488)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GlobalWafers Co Ltd it is 188.58 TWD per share (as of Nov 3, 2026), against a price of 564.00 TWD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is GlobalWafers Co Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 6488 trades above its calculated fair value: price 564.00 TWD, fair value 188.58 TWD, a gap of about −67% (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 6488?
No. The price is what the market pays today (564.00 TWD); the fair value is what the company's own numbers justify (188.58 TWD). For GlobalWafers Co Ltd the two are 375.42 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is GlobalWafers Co Ltd worth?
The market values GlobalWafers Co Ltd at about 421B TWD (market capitalisation, as of Nov 3, 2026). Per share that is 564.00 TWD; our models calculate a fair value of 188.58 TWD per share.
What do the bullish and bearish scenarios say about 6488?
Our models span a range for GlobalWafers Co Ltd: cautious scenario 180.97 TWD, base 188.58 TWD, optimistic 230.72 TWD per share (as of Nov 3, 2026, price 564.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6488?
GlobalWafers Co Ltd trades at a price-to-earnings ratio of 27.4 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 188.58 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 21.1. Other multiples: PEG 1.0, P/B 4.5, P/S 7.2, EV/EBITDA 29.3.
What is the PEG ratio of 6488?
The PEG ratio of GlobalWafers Co Ltd is 1.01 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of GlobalWafers Co Ltd (6488)?
Balance-sheet figures for GlobalWafers Co Ltd (as of Nov 3, 2026): return on equity 10.9%, debt of 0.46 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 6488 from its 52-week high?
GlobalWafers Co Ltd trades at 564.00 TWD, about 63% below its 52-week high of 1,509 TWD and 65% above the low of 341.02 TWD (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 188.58 TWD is for.
Which stocks are comparable to GlobalWafers Co Ltd?
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 GlobalWafers Co Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price 564.00 TWD, calculated fair value 188.58 TWD (−67%), Quality Score 42/100, from 16 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 6488 calculated?
We run GlobalWafers Co Ltd through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 188.58 TWD, 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 15.6% above its aggregate fair value. GlobalWafers Co Ltd 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 GlobalWafers Co Ltd (6488)?
The closing price on Nov 5, 2026 was 564.00 TWD. Our model-based fair value is 188.58 TWD, about 67% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GlobalWafers Co Ltd right now?
The price sits above even our optimistic bull case (230.72 TWD). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of GlobalWafers Co Ltd (6488) come from?
Earnings per share at GlobalWafers Co Ltd grew +22.8 % a year from 2012 to 2023. Broken into its drivers: revenue per share +13.1 %, EBIT margin +9.8 %, tax rate −1.9 %, residual (interest, one-offs) +0.8 %. 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 GlobalWafers Co Ltd
How large is the market capitalisation of GlobalWafers Co Ltd (6488)?
The market capitalisation of GlobalWafers Co Ltd is 421B TWD (≈ $12.8B). 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 GlobalWafers Co Ltd (6488)?
The price-to-sales ratio of GlobalWafers Co Ltd is 4.63 (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 GlobalWafers Co Ltd (6488)?
Earnings per share at GlobalWafers Co Ltd are 20.57 TWD (price ÷ EPS = P/E 27.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of GlobalWafers Co Ltd (6488)?
The dividend yield of GlobalWafers Co Ltd is 1.0% (payout 27.7%). 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 GlobalWafers Co Ltd (6488)?
The net margin of GlobalWafers Co Ltd 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 GlobalWafers Co Ltd (6488)?
The return on equity (ROE) of GlobalWafers Co Ltd is 10.9% (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 GlobalWafers Co Ltd (6488)?
On an EBIT basis the return on assets of GlobalWafers Co Ltd is 8.8% (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 GlobalWafers Co Ltd (6488)?
The operating margin of GlobalWafers Co Ltd is 9.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GlobalWafers Co Ltd (6488)?
Revenue at GlobalWafers Co Ltd is growing −5.0% 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 fast are earnings growing at GlobalWafers Co Ltd (6488)?
Earnings per share at GlobalWafers Co Ltd are growing +125% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does GlobalWafers Co Ltd (6488) generate?
The free cash flow of GlobalWafers Co Ltd is −20.8B 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 GlobalWafers Co Ltd (6488) carry?
The net debt of GlobalWafers Co Ltd is 54.8B 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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Some data
Nov 3, 2026