Keystone Microtech Corp (6683) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Keystone Microtech Corp stock TWD 852, price TWD 782, upside +8.9%, quality 76 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 5, 2026.
How to read this chart
60‑month range 138.04 TWD – 2,565 TWD · fair‑value band 555.72 TWD – 1,120 TWD · the 782.00 TWD price screens below the 851.70 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Keystone Microtech Corporation operates in the semiconductor industry in Taiwan and internationally. The company offers load board and burn-in boards. It also offers probe cards.
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In addition, the company provides technical services comprising of signal integrity and power integrity simulation and thermal simulation. Keystone Microtech Corporation was founded in 2006 and is based in Zhubei City, Taiwan.
Stock analysis
Keystone Microtech Corp (6683) currently trades at 782.00 TWD, while our model-based Fair Value estimate is 851.70 TWD, so the stock looks roughly fairly valued today (gap 8.2%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 456.65 TWD per share, and 0 of the 26 models we run sit above the 782.00 TWD price.
Bear case: the Dividend Discount group reads lowest at 105.83 TWD, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 555.72 TWD (bear) to 1,120 TWD (bull), the price of 782.00 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 76/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Keystone Microtech Corp reported revenue of 2.1B TWD in FY2025 versus 1.5B TWD in FY2021, a compound +9.6%/yr. Reported net income was 419M TWD in FY2025, compounding 0.0%/yr from FY2021.
Key figures
Market cap 22.0B TWD (≈ $670M) Small · P/E ratio 34.9 · P/S ratio 8.98 · EPS (TTM) 22.38 TWD · Dividend yield 1.2% · Net margin 25.2% · Return on equity 23.6% · Return on assets (EBIT) 18.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 85 out of 100 (low confidence).
What moves the price
The share trades about 70% below its 52-week high and 118% 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 9%, 6683 screens cheaper than that median.
Fair Value models
Bear555.72 TWDFair Value 851.70 TWDBull1,120 TWD
Price 782.00 TWD · Upside +8.9%
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 (11.47 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.
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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+23.0%
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.
+11.8%
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.
+11.7%
Start year 2020 (pandemic)
Revenue growth 8 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.
+18.4%
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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.
+5.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.4%
Dividend (yield on the price)1.2%
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.34% → 25%
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).
+30.4%
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 +28.4% a year for the price.
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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.Semiconductor Equipment & Materials · 235 stocks
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Is Keystone Microtech Corp (6683) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 851.70 TWD versus a price of 782.00 TWD, about +9% upside (fairly valued).
What is the fair value of 6683?
Our model-based fair value for Keystone Microtech Corp is 851.70 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 782.00 TWD.
What is the quality score of 6683?
Keystone Microtech Corp has a Quality Score of 76/100. 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 Keystone Microtech Corp (6683)?
Our model-based price target is the fair value of 851.70 TWD (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 555.72 TWD, optimistic scenario 1,120 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Keystone Microtech Corp stock forecast for 2026?
Our models put fair value at 851.70 TWD, about +9% upside versus a price of 782.00 TWD (fairly valued). Cautious scenario 555.72 TWD, optimistic scenario 1,120 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Keystone Microtech Corp (6683)?
Keystone Microtech Corp reported trailing-twelve-month revenue of about 2.5B TWD (latest available figure, as of Nov 5, 2026).
Does Keystone Microtech Corp pay a dividend?
Keystone Microtech Corp currently shows a dividend yield of 1.15% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Keystone Microtech Corp (6683) and when is the ex-dividend date?
Keystone Microtech Corp pays a dividend of 9.00 TWD per share a year, a dividend yield of 1.2%. The last ex-dividend date was Jul 7, 2026. A dividend has been paid every year since at least 2018. The payout ratio is 40.2% of earnings. Free cash flow covers the dividend 2.17 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Keystone Microtech Corp (6683)?
For today's price to be fair in a discounted-cash-flow model, Keystone Microtech Corp would have to grow free cash flow by +30.4 % per year for five years (discount rate 13.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.7 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 6683 use?
Our models discount Keystone Microtech Corp at 13.2 %: a base by market capitalisation (small), damped by beta 1.47, 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 Keystone Microtech Corp that is +30.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.2 %) and the same formula as our fair value.
How much growth has Keystone Microtech Corp (6683) delivered so far?
Over the past 5 years revenue at Keystone Microtech Corp grew +11.7 % a year. The price currently implies free-cash-flow growth of +30.4 % 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 Keystone Microtech Corp (6683) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Keystone Microtech Corp (+30.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Keystone Microtech Corp (6683)?
The free-cash-flow yield on the price is 2.49 %: that much free cash flow Keystone Microtech Corp produces per unit of market value. When it exceeds the discount rate of our models (13.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Keystone Microtech Corp (6683)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Keystone Microtech Corp it is 851.70 TWD per share (as of Nov 5, 2026), against a price of 782.00 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 Keystone Microtech Corp stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 6683 trades below its calculated fair value: price 782.00 TWD, fair value 851.70 TWD, a gap of about +9% (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 6683?
No. The price is what the market pays today (782.00 TWD); the fair value is what the company's own numbers justify (851.70 TWD). For Keystone Microtech Corp the two are 69.70 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Keystone Microtech Corp worth?
The market values Keystone Microtech Corp at about 22.0B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 782.00 TWD; our models calculate a fair value of 851.70 TWD per share.
What do the bullish and bearish scenarios say about 6683?
Our models span a range for Keystone Microtech Corp: cautious scenario 555.72 TWD, base 851.70 TWD, optimistic 1,120 TWD per share (as of Nov 5, 2026, price 782.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6683?
Keystone Microtech Corp trades at a price-to-earnings ratio of 34.9 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 851.70 TWD is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2018 to 2025), reported earnings, FY2025 ex one-offs: 24.3. Other multiples: P/B 8.1, P/S 9.0, EV/EBITDA 28.3.
How solid is the balance sheet of Keystone Microtech Corp (6683)?
Balance-sheet figures for Keystone Microtech Corp (as of Nov 5, 2026): return on equity 23.6%. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is 6683 from its 52-week high?
Keystone Microtech Corp trades at 782.00 TWD, about 70% below its 52-week high of 2,565 TWD and 118% above the low of 358.00 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 851.70 TWD is for.
Which stocks are comparable to Keystone Microtech Corp?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA 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 Keystone Microtech Corp stock attractive at the current price?
The data as of Nov 5, 2026: price 782.00 TWD, calculated fair value 851.70 TWD (+9%), Quality Score 76/100, 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 6683 calculated?
We run Keystone Microtech 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 851.70 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. Keystone Microtech Corp currently trades 8% 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 Keystone Microtech Corp (6683)?
The closing price on Nov 6, 2026 was 782.00 TWD. Our model-based fair value is 851.70 TWD, about +9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Keystone Microtech 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 (555.72 TWD to 1,120 TWD) leaves room in how you read the outcome.
Key figures of Keystone Microtech Corp
How large is the market capitalisation of Keystone Microtech Corp (6683)?
The market capitalisation of Keystone Microtech Corp is 22.0B TWD (≈ $670M). 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 Keystone Microtech Corp (6683)?
The price-to-sales ratio of Keystone Microtech Corp is 8.98 (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 Keystone Microtech Corp (6683)?
Earnings per share at Keystone Microtech Corp are 22.38 TWD (price ÷ EPS = P/E 34.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Keystone Microtech Corp (6683)?
The dividend yield of Keystone Microtech Corp is 1.2% (payout 40.2%). 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 Keystone Microtech Corp (6683)?
The net margin of Keystone Microtech Corp is 25.2% (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 Keystone Microtech Corp (6683)?
The return on equity (ROE) of Keystone Microtech Corp is 23.6% (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 Keystone Microtech Corp (6683)?
On an EBIT basis the return on assets of Keystone Microtech Corp is 18.6% (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 Keystone Microtech Corp (6683)?
The operating margin of Keystone Microtech Corp is 30.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Keystone Microtech Corp (6683)?
Revenue at Keystone Microtech Corp is growing +19.3% versus a year earlier (3y avg +11.8%). 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 Keystone Microtech Corp (6683)?
Earnings per share at Keystone Microtech Corp are growing +396% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Keystone Microtech Corp (6683) hold?
Keystone Microtech Corp holds more cash than debt, 1.3B TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 5, 2026