Sun Max Tech Ltd (6591) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Sun Max Tech Ltd stock TWD 73.21, price TWD 36.90, upside +98.4%, quality 57 out of 100. Rating: strongly undervalued. 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 9, 2026.
How to read this chart
60‑month range 29.67 TWD – 93.30 TWD · fair‑value band 46.25 TWD – 104.00 TWD · the 36.90 TWD price screens below the 73.21 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
Follow Sun Max Tech in your weekly email
Every Wednesday you see whether Sun Max Tech is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Sun Max Tech Limited, an investment holding company, manufactures, wholesales, retails, and trades cooling fans in China, Taiwan, and internationally.
Show moreShow less
The company provides air purifiers, hanging neck fans, and UV sterilization bottles; and electronic cooling products, including axial and dish fans, and blowers. Sun Max Tech Limited was founded in 1998 and is based in New Taipei City, Taiwan.
Stock analysis
Sun Max Tech Ltd (6591) currently trades at 36.90 TWD, while our model-based Fair Value estimate is 73.21 TWD, implying the stock looks roughly 50% undervalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of 116.44 TWD per share, and 18 of the 24 models we run sit above the 36.90 TWD price.
Bear case: the Asset-Based group reads lowest at 15.49 TWD, and 6 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 46.25 TWD (bear) to 104.00 TWD (bull), the price of 36.90 TWD sits below 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.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Sun Max Tech Ltd reported revenue of 1.8B TWD in FY2025 versus 1.8B TWD in FY2021, a compound −1.2%/yr. Reported net income was 208M TWD in FY2025, compounding −1.2%/yr from FY2021.
Key figures
Market cap 1.5B TWD (≈ $46.7M) Micro · P/E ratio 12.7 · P/S ratio 1.12 · EPS (TTM) 2.91 TWD · Dividend yield 10.8% · Net margin 9.6% · Return on equity 6.5% · Return on assets (EBIT) 7.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 52% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at 98%, 6591 screens cheaper than that median.
Fair Value models
Bear46.25 TWDFair Value 73.21 TWDBull104.00 TWD
Price 36.90 TWD · Upside +98.4%
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.42/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+38.8%
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.
+1.9%
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.
+2.1%
Start year 2020 (pandemic). Over 10 years: +7.6% a year
Revenue growth 12 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.
+8.1%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+7.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.1%
Dividend (yield on the price)10.8%
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.0.6% vs −3.8%, 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.19% → 15%
2025 sits 73% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 8.7%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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).
+28.7%
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 +26.7% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Computer Hardware · 213 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+98.4% · Top 25%
Profitability
Return on equity (12 months)6.5% · Below median
Return on assets5.9% · Above median
Net margin (12 months)9.6% · Above median
Operating margin (12 months)−13.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−55.2% · Bottom 25%
Dividend yield (12 months)10.8% · Top 25%
Balance sheet
Debt / equity0.26× · Highest 25%
Valuation Multiplesvs Computer Hardware median · lower = cheaper
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). "Sun Max Tech Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6591
Frequently asked questions
Is Sun Max Tech Ltd (6591) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 73.21 TWD versus a price of 36.90 TWD, about +98% upside (undervalued).
What is the fair value of 6591?
Our model-based fair value for Sun Max Tech Ltd is 73.21 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 36.90 TWD.
What is the quality score of 6591?
Sun Max Tech Ltd 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 Sun Max Tech Ltd (6591)?
Our model-based price target is the fair value of 73.21 TWD (as of Nov 9, 2026) from 24 valuation models. Cautious scenario 46.25 TWD, optimistic scenario 104.00 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Sun Max Tech Ltd stock forecast for 2026?
Our models put fair value at 73.21 TWD, about +98% upside versus a price of 36.90 TWD (undervalued). Cautious scenario 46.25 TWD, optimistic scenario 104.00 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Sun Max Tech Ltd (6591)?
Sun Max Tech Ltd reported trailing-twelve-month revenue of about 1.4B TWD (latest available figure, as of Nov 9, 2026).
Does Sun Max Tech Ltd pay a dividend?
Sun Max Tech Ltd currently shows a dividend yield of 10.84% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Sun Max Tech Ltd (6591) and when is the ex-dividend date?
Sun Max Tech Ltd pays a dividend of 4.00 TWD per share a year, a dividend yield of 10.8%. The last ex-dividend date was Jul 7, 2026. A dividend has been paid every year since at least 2017. The payout ratio is 137% of earnings. Free cash flow covers the dividend 0.16 times. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What growth is priced into Sun Max Tech Ltd (6591)?
For today's price to be fair in a discounted-cash-flow model, Sun Max Tech Ltd would have to grow free cash flow by +28.7 % 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 +2.1 % 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 9, 2026.
What discount rate (WACC) does the fair value of 6591 use?
Our models discount Sun Max Tech Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.41, 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 Sun Max Tech Ltd that is +28.7 % 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 Sun Max Tech Ltd (6591) delivered so far?
Over the past 5 years revenue at Sun Max Tech Ltd grew +2.1 % a year. The price currently implies free-cash-flow growth of +28.7 % 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 Sun Max Tech Ltd (6591) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Sun Max Tech Ltd (+28.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sun Max Tech Ltd (6591)?
The free-cash-flow yield on the price is 1.75 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Sun Max Tech Ltd 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 Sun Max Tech Ltd (6591)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sun Max Tech Ltd it is 73.21 TWD per share (as of Nov 9, 2026), against a price of 36.90 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 Sun Max Tech Ltd stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 6591 trades below its calculated fair value: price 36.90 TWD, fair value 73.21 TWD, a gap of about +98% (undervalued). 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 6591?
No. The price is what the market pays today (36.90 TWD); the fair value is what the company's own numbers justify (73.21 TWD). For Sun Max Tech Ltd the two are 36.31 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Sun Max Tech Ltd worth?
The market values Sun Max Tech Ltd at about 1.5B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 36.90 TWD; our models calculate a fair value of 73.21 TWD per share.
What do the bullish and bearish scenarios say about 6591?
Our models span a range for Sun Max Tech Ltd: cautious scenario 46.25 TWD, base 73.21 TWD, optimistic 104.00 TWD per share (as of Nov 9, 2026, price 36.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6591?
Sun Max Tech Ltd trades at a price-to-earnings ratio of 12.7 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 73.21 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 14.0. Other multiples: P/B 0.7, P/S 1.1, EV/EBITDA 7.4.
How solid is the balance sheet of Sun Max Tech Ltd (6591)?
Balance-sheet figures for Sun Max Tech Ltd (as of Nov 9, 2026): return on equity 6.5%, debt of 0.26 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 6591 from its 52-week high?
Sun Max Tech Ltd trades at 36.90 TWD, about 52% below its 52-week high of 76.86 TWD and 2% above the low of 36.15 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 73.21 TWD is for.
Which stocks are comparable to Sun Max Tech Ltd?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Sandisk Corporation, Seagate Technology Holdings, 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 Sun Max Tech Ltd stock attractive at the current price?
The data as of Nov 9, 2026: price 36.90 TWD, calculated fair value 73.21 TWD (+98%), 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 6591 calculated?
We run Sun Max Tech Ltd 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 73.21 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. Sun Max Tech Ltd currently trades 50% 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 Sun Max Tech Ltd (6591)?
The closing price on Nov 9, 2026 was 36.90 TWD. Our model-based fair value is 73.21 TWD, about +98% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sun Max Tech Ltd right now?
The price is below even our cautious bear case (46.25 TWD). The market is more pessimistic than our downside scenario. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (46.25 TWD to 104.00 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Sun Max Tech Ltd (6591) come from?
Earnings per share at Sun Max Tech Ltd grew −5.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share −7.6 %, EBIT margin −4.5 %, tax rate +2.3 %, residual (interest, one-offs) +4.3 %. 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 Sun Max Tech Ltd
How large is the market capitalisation of Sun Max Tech Ltd (6591)?
The market capitalisation of Sun Max Tech Ltd is 1.5B TWD (≈ $46.7M). 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 Sun Max Tech Ltd (6591)?
The price-to-sales ratio of Sun Max Tech Ltd is 1.12 (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 Sun Max Tech Ltd (6591)?
Earnings per share at Sun Max Tech Ltd are 2.91 TWD (price ÷ EPS = P/E 12.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sun Max Tech Ltd (6591)?
The dividend yield of Sun Max Tech Ltd is 10.8% (payout 137%). 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 Sun Max Tech Ltd (6591)?
The net margin of Sun Max Tech Ltd is 9.6% (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 Sun Max Tech Ltd (6591)?
The return on equity (ROE) of Sun Max Tech Ltd is 6.5% (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 Sun Max Tech Ltd (6591)?
On an EBIT basis the return on assets of Sun Max Tech Ltd is 7.2% (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 Sun Max Tech Ltd (6591)?
The operating margin of Sun Max Tech Ltd is −13.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sun Max Tech Ltd (6591)?
Revenue at Sun Max Tech Ltd is growing −55.2% versus a year earlier (3y avg +1.9%). 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 Sun Max Tech Ltd (6591)?
Earnings per share at Sun Max Tech Ltd are growing −56.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Sun Max Tech Ltd (6591) hold?
Sun Max Tech Ltd holds more cash than debt, 410M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Sun Max Tech Ltd in the live analysis
One click puts Sun Max Tech Ltd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Broad data
Nov 9, 2026