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PlayNitride Inc. (6854) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of PlayNitride Inc. stock TWD 28.49, price TWD 70.60, that is 59.6% below the price, quality 38 out of 100. Rating: strongly overvalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.

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Technology TW

PI PlayNitride Inc. logo Thin data Nov 7, 2026

PlayNitride Inc.

6854 · TW
Very expensive, weak quality

Our calculation puts a fair price 60% below what the stock costs today.

Low debt
Expensive Growth (revenue 5y +61.7 %/yr in TWD)
Revenue last quarter 47% below a year ago.
Fair value 28.49 TWD · Strongly overvalued (−59.6%)
Quality 38/100
Loss-making · -53.0% net margin (TTM)
Negative free cash flow
Trails peers (0/10)
Narrow moat 14/100
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

267.50 TWD 62.50 TWD Fair Value 28.49 TWD Aug 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

51‑month range 62.50 TWD – 267.50 TWD · fair‑value band 23.84 TWD – 33.14 TWD · the 70.60 TWD price screens above the 28.49 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

PlayNitride Inc. engages in the research and development, manufacture, and sale of MicroLED display products, modules, and panels in Taiwan, Korea, and internationally.

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The company also offers design, installation, and maintenance of processing equipment; consulting services; and licensing of technologies. Its MicroLED products are used in large displays, medium and small displays, and flexible displays, as well as AR, wearable devices, and automotive applications.

The company has a strategic collaboration with Brillink to develop an array-based photonic interconnect solution designed to deliver bandwidth density for computing and AI systems. PlayNitride Inc. was incorporated in 2014 and is headquartered in Miaoli, Taiwan.

Stock analysis

PlayNitride Inc. (6854) currently trades at 70.60 TWD, while our model-based Fair Value estimate is 28.49 TWD, 60% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: 23.84 TWD (bear) to 33.14 TWD (bull), the price of 70.60 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 38/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

PlayNitride Inc. reported revenue of 1.4B TWD in FY2025 versus 205M TWD in FY2021, a compound +60.3%/yr. Reported net income was −117M TWD in FY2025.

Key figures

Market cap 8.3B TWD (≈ $254M) Micro · P/S ratio 8.55 · EPS (TTM) −1.38 TWD · Net margin −8.7% · Return on equity −15.1% · Return on assets (EBIT) −18.2% (5-year average) · Operating margin −117% · Revenue (TTM) 966M TWD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (medium confidence).

What moves the price

The share trades about 63% below its 52-week high and at 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 −60%, 6854 screens richer than that median.

Fair Value models

Bear 23.84 TWD Fair Value 28.49 TWD Bull 33.14 TWD
Price 70.60 TWD · Downside -59.6%
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.
Best data coverage
EV/EBITDA 23.84 TWD 28.49 TWD 33.14 TWD 67
NCAV (Graham) 17.17 TWD 26.01 TWD 32.52 TWD 54
All 2 models by family
Multiples
EV/EBITDA 23.84 TWD 28.49 TWD 33.14 TWD 67
Asset-Based
NCAV (Graham) 17.17 TWD 26.01 TWD 32.52 TWD 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 38/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 9
How much profit the company makes from its sales and capital
Quality Growth 6
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 97
Debt, balance sheet and risk of trouble
Investment 9
Does it invest with discipline instead of growing at any price?
Low Volatility 44
How calm the share price moves, does not count
Price momentum 6
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 54
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 32/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−23.6%
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.
+49.6%
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.
+61.7%
Start year 2020 (pandemic)
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.
−1,219.0% (2020) → −10.2% (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

6854 screens overvalued: fair value 60% below the price. Compare with Amphenol Corporation →

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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.Electronic Components · 651 stocks

Beats the industry median on 0/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside −59.6% · Below median
Profitability
Return on assets −2.3% · Bottom 25%
Net margin (12 months) −53.0% · Bottom 25%
Operating margin (12 months) −117.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −46.8% · Bottom 25%
Balance sheet
Debt / equity 0.20× · Above median

Valuation Multiplesvs Electronic Components median · lower = cheaper

P/B 2.17× · Pricier than median
P/S (12 months) 8.60× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 70
PAST (return on equity)0 · sector 28
HEALTH (low debt)90 · sector 95
DIVIDEND (yield)0 · sector 27

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Hon Hai Precision Industry Co 2317 224.50 TWD 292.29 TWD +30% vs 6854
Asia Vital Components Co 3017 2,310 TWD 2,541 TWD +10% vs 6854
TE Connectivity plc TEL $207.01 $224.30 +8% vs 6854
Shengyi Technology Co 600183 ¥70.49 ¥66.42 −6% vs 6854
Amphenol Corporation APH $74.59 $69.74 −7% vs 6854
Delta Electronics, Inc 2308 1,055 TWD 519.57 TWD −51% vs 6854
Luxshare Precision Industry Co 002475 ¥50.05 ¥18.44 −63% vs 6854
Corning Incorporated GLW $106.13 $33.72 −68% vs 6854
Elite Material Co 2383 3,820 TWD 782.39 TWD −80% vs 6854
Samsung Electro-Mechanics Co 009150 870,000 KRW 171,572 KRW −80% vs 6854

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PlayNitride Inc.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "PlayNitride Inc. Fair Value". https://www.fairvalue-calculator.com/stock/6854

Frequently asked questions

Is PlayNitride Inc. (6854) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 28.49 TWD versus a price of 70.60 TWD, about 60% lower (overvalued).
What is the fair value of 6854?
Our model-based fair value for PlayNitride Inc. is 28.49 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 70.60 TWD.
What is the quality score of 6854?
PlayNitride Inc. has a Quality Score of 38/100. 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 PlayNitride Inc. (6854)?
Our model-based price target is the fair value of 28.49 TWD (as of Nov 7, 2026) from 2 valuation models. Cautious scenario 23.84 TWD, optimistic scenario 33.14 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the PlayNitride Inc. stock forecast for 2026?
Our models put fair value at 28.49 TWD, about 60% lower versus a price of 70.60 TWD (overvalued). Cautious scenario 23.84 TWD, optimistic scenario 33.14 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of PlayNitride Inc. (6854)?
PlayNitride Inc. reported trailing-twelve-month revenue of about 966M TWD (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of PlayNitride Inc. (6854)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PlayNitride Inc. it is 28.49 TWD per share (as of Nov 7, 2026), against a price of 70.60 TWD. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is PlayNitride Inc. stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 6854 trades above its calculated fair value: price 70.60 TWD, fair value 28.49 TWD, a gap of about −60% (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 6854?
No. The price is what the market pays today (70.60 TWD); the fair value is what the company's own numbers justify (28.49 TWD). For PlayNitride Inc. the two are 42.11 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is PlayNitride Inc. worth?
The market values PlayNitride Inc. at about 8.3B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 70.60 TWD; our models calculate a fair value of 28.49 TWD per share.
What do the bullish and bearish scenarios say about 6854?
Our models span a range for PlayNitride Inc.: cautious scenario 23.84 TWD, base 28.49 TWD, optimistic 33.14 TWD per share (as of Nov 7, 2026, price 70.60 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PlayNitride Inc. (6854)?
Balance-sheet figures for PlayNitride Inc. (as of Nov 7, 2026): return on equity −15.1%, debt of 0.20 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 6854 from its 52-week high?
PlayNitride Inc. trades at 70.60 TWD, about 63% below its 52-week high of 190.50 TWD and at the low of 70.60 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 28.49 TWD is for.
Which stocks are comparable to PlayNitride Inc.?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, 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 PlayNitride Inc. stock attractive at the current price?
The data as of Nov 7, 2026: price 70.60 TWD, calculated fair value 28.49 TWD (−60%), Quality Score 38/100, from 2 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 6854 calculated?
We run PlayNitride Inc. through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of 28.49 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 13.0% above its aggregate fair value. PlayNitride Inc. 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 PlayNitride Inc. (6854)?
The closing price on Nov 6, 2026 was 70.60 TWD. Our model-based fair value is 28.49 TWD, about 60% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PlayNitride Inc. right now?
The price sits above even our optimistic bull case (33.14 TWD). The favourable scenario is already priced in. Weak quality (38/100) 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.

Key figures of PlayNitride Inc.

How large is the market capitalisation of PlayNitride Inc. (6854)?
The market capitalisation of PlayNitride Inc. is 8.3B TWD (≈ $254M). 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 PlayNitride Inc. (6854)?
The price-to-sales ratio of PlayNitride Inc. is 8.55 (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 PlayNitride Inc. (6854)?
Earnings per share at PlayNitride Inc. are −1.38 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of PlayNitride Inc. (6854)?
The net margin of PlayNitride Inc. is −8.7% (fiscal year 2025). 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 PlayNitride Inc. (6854)?
The return on equity (ROE) of PlayNitride Inc. is −15.1% (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 PlayNitride Inc. (6854)?
On an EBIT basis the return on assets of PlayNitride Inc. is −18.2% (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 PlayNitride Inc. (6854)?
The operating margin of PlayNitride Inc. is −117% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PlayNitride Inc. (6854)?
Revenue at PlayNitride Inc. is growing −46.8% versus a year earlier (3y avg +49.6%). 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 PlayNitride Inc. (6854)?
Earnings per share at PlayNitride Inc. are growing +81.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PlayNitride Inc. (6854) generate?
The free cash flow of PlayNitride Inc. is −944M 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 cash does PlayNitride Inc. (6854) hold?
PlayNitride Inc. holds more cash than debt, 1.2B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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