Formosa Advanced Technologies Co Ltd (8131) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Formosa Advanced Technologies Co Ltd stock TWD 28.30, price TWD 49.00, that is 42.2% below the price, quality 56 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 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
60‑month range 23.30 TWD – 85.30 TWD · fair‑value band 28.23 TWD – 30.94 TWD · the 49.00 TWD price screens above the 28.30 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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Formosa Advanced Technologies Co., Ltd., engages in the production and sales of molybdenum wafers in Taiwan, the United States, Korea, China, and internationally. It also provides wafer probing, IC assembly, testing, and module turnkey services, as well as LED back-end chip process services.
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The company was founded in 1980 and is headquartered in Douliou City, Taiwan.
Stock analysis
Formosa Advanced Technologies Co Ltd (8131) currently trades at 49.00 TWD, while our model-based Fair Value estimate is 28.30 TWD, 42% 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 38.09 TWD per share, and 1 of the 14 models we run sit above the 49.00 TWD price.
Bear case: the Dividend Discount group reads lowest at 14.72 TWD, and 13 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 28.23 TWD (bear) to 30.94 TWD (bull), the price of 49.00 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 56/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Formosa Advanced Technologies Co Ltd reported revenue of 9.9B TWD in FY2025 versus 9.9B TWD in FY2021, a compound 0.0%/yr. Reported net income was 603M TWD in FY2025, compounding −21.1%/yr from FY2021.
Key figures
Market cap 21.3B TWD (≈ $651M) Small · P/E ratio 14.2 · P/S ratio 1.82 · EPS (TTM) 3.44 TWD · Dividend yield 2.0% · Net margin 13.1% · Return on equity 11.9% · Return on assets (EBIT) 8.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 28% 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 −42%, 8131 screens richer than that median.
Fair Value models
Bear28.23 TWDFair Value 28.30 TWDBull30.94 TWD
Price 49.00 TWD · Downside -42.2%
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 (2.09 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 Income20.05 TWD20.10 TWD20.84 TWD76
EPV15.74 TWD17.10 TWD18.23 TWD74
ROIC Compounder15.74 TWD17.10 TWD18.23 TWD72
All 14 models by family
Earnings-Based
Graham-Dodd9.27 TWD18.52 TWD23.26 TWD66
EPV15.74 TWD17.10 TWD18.23 TWD74
Dividend Discount
Gordon GGM11.06 TWD14.82 TWD18.23 TWD69
DDM Multi-Stage11.06 TWD14.62 TWD18.21 TWD67
Multiples
P/E Multiple28.62 TWD38.16 TWD47.70 TWD63
P/S Multiple17.37 TWD23.17 TWD28.96 TWD58
P/B Multiple28.52 TWD38.02 TWD47.53 TWD55
EV/EBIT37.17 TWD46.83 TWD56.49 TWD66
EV/EBITDA50.35 TWD64.40 TWD78.45 TWD67
EV/Revenue22.84 TWD29.12 TWD35.40 TWD54
Asset-Based
NCAV (Graham)11.60 TWD17.58 TWD21.97 TWD54
Economic Profit
Residual Income20.05 TWD20.10 TWD20.84 TWD76
ROIC Compounder15.74 TWD17.10 TWD18.23 TWD72
Growth Earnings
Growth-Adj P/E20.48 TWD29.26 TWD38.03 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.31/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+11.1%
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.
−1.7%
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.
+0.4%
Start year 2020 (pandemic). Over 10 years: +1.3% a year
Revenue growth 22 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.
+7.4%
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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.
−13.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−15.5%
Dividend (yield on the price)2.0%
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.−15.5% vs −5.1%, 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.18% → 7%
Compare Formosa Advanced Technologies Co Ltd with another stock
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 · 370 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−42.2% · Below median
Profitability
Return on equity (12 months)11.9% · Above median
Return on assets4.3% · Above median
Net margin (12 months)13.1% · Above median
Operating margin (12 months)15.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)50.2% · Top 25%
Dividend yield (12 months)2.0% · Above median
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (12 months)14.2× · Cheapest 25%
P/B1.74× · Cheaper than median
P/S (12 months)1.82× · Cheapest 25%
EV/EBITDA8.5× · Cheapest 25%
PEG0.91× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 100
PAST (return on equity)48· sector 28
HEALTH (low debt)93· sector 96
DIVIDEND (yield)41· 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). "Formosa Advanced Technologies Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8131
Frequently asked questions
Is Formosa Advanced Technologies Co Ltd (8131) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 28.30 TWD versus a price of 49.00 TWD, about 42% lower (overvalued).
What is the fair value of 8131?
Our model-based fair value for Formosa Advanced Technologies Co Ltd is 28.30 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 49.00 TWD.
What is the quality score of 8131?
Formosa Advanced Technologies Co Ltd has a Quality Score of 56/100. 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 Formosa Advanced Technologies Co Ltd (8131)?
Our model-based price target is the fair value of 28.30 TWD (as of Nov 6, 2026) from 14 valuation models. Cautious scenario 28.23 TWD, optimistic scenario 30.94 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Formosa Advanced Technologies Co Ltd stock forecast for 2026?
Our models put fair value at 28.30 TWD, about 42% lower versus a price of 49.00 TWD (overvalued). Cautious scenario 28.23 TWD, optimistic scenario 30.94 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Formosa Advanced Technologies Co Ltd (8131)?
Formosa Advanced Technologies Co Ltd reported trailing-twelve-month revenue of about 11.7B TWD (latest available figure, as of Nov 6, 2026).
Does Formosa Advanced Technologies Co Ltd pay a dividend?
Formosa Advanced Technologies Co Ltd currently shows a dividend yield of 2.04% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Formosa Advanced Technologies Co Ltd (8131) and when is the ex-dividend date?
Formosa Advanced Technologies Co Ltd pays a dividend of 1.00 TWD per share a year, a dividend yield of 2.0%. The last ex-dividend date was Jul 15, 2026. The payout ratio is 29.1% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Formosa Advanced Technologies Co Ltd (8131)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Formosa Advanced Technologies Co Ltd it is 28.30 TWD per share (as of Nov 6, 2026), against a price of 49.00 TWD. It is the blended result of 14 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Formosa Advanced Technologies Co Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 8131 trades above its calculated fair value: price 49.00 TWD, fair value 28.30 TWD, a gap of about −42% (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 8131?
No. The price is what the market pays today (49.00 TWD); the fair value is what the company's own numbers justify (28.30 TWD). For Formosa Advanced Technologies Co Ltd the two are 20.70 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Formosa Advanced Technologies Co Ltd worth?
The market values Formosa Advanced Technologies Co Ltd at about 21.3B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 49.00 TWD; our models calculate a fair value of 28.30 TWD per share.
What do the bullish and bearish scenarios say about 8131?
Our models span a range for Formosa Advanced Technologies Co Ltd: cautious scenario 28.23 TWD, base 28.30 TWD, optimistic 30.94 TWD per share (as of Nov 6, 2026, price 49.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8131?
Formosa Advanced Technologies Co Ltd trades at a price-to-earnings ratio of 14.2 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 28.30 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 11.5. Other multiples: PEG 0.9, P/B 1.7, P/S 1.8, EV/EBITDA 8.5.
What is the PEG ratio of 8131?
The PEG ratio of Formosa Advanced Technologies Co Ltd is 0.91 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Formosa Advanced Technologies Co Ltd (8131)?
Balance-sheet figures for Formosa Advanced Technologies Co Ltd (as of Nov 6, 2026): return on equity 11.9%, debt of 0.13 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 8131 from its 52-week high?
Formosa Advanced Technologies Co Ltd trades at 49.00 TWD, about 43% below its 52-week high of 85.30 TWD and 28% above the low of 38.25 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 28.30 TWD is for.
Which stocks are comparable to Formosa Advanced Technologies 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 Formosa Advanced Technologies Co Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price 49.00 TWD, calculated fair value 28.30 TWD (−42%), Quality Score 56/100, from 14 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 8131 calculated?
We run Formosa Advanced Technologies Co Ltd through 14 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 28.30 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. Formosa Advanced Technologies 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 Formosa Advanced Technologies Co Ltd (8131)?
The closing price on Nov 6, 2026 was 49.00 TWD. Our model-based fair value is 28.30 TWD, about 42% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Formosa Advanced Technologies Co Ltd right now?
The price sits above even our optimistic bull case (30.94 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (28.23 TWD to 30.94 TWD), unusually little disagreement for a valuation.
Where does the earnings growth of Formosa Advanced Technologies Co Ltd (8131) come from?
Earnings per share at Formosa Advanced Technologies Co Ltd grew −4.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.0 %, EBIT margin −7.7 %, tax rate +0.2 %, residual (interest, one-offs) +3.5 %. 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 Formosa Advanced Technologies Co Ltd
How large is the market capitalisation of Formosa Advanced Technologies Co Ltd (8131)?
The market capitalisation of Formosa Advanced Technologies Co Ltd is 21.3B TWD (≈ $651M). 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 Formosa Advanced Technologies Co Ltd (8131)?
The price-to-sales ratio of Formosa Advanced Technologies Co Ltd is 1.82 (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 Formosa Advanced Technologies Co Ltd (8131)?
Earnings per share at Formosa Advanced Technologies Co Ltd are 3.44 TWD (price ÷ EPS = P/E 14.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Formosa Advanced Technologies Co Ltd (8131)?
The dividend yield of Formosa Advanced Technologies Co Ltd is 2.0% (payout 29.1%). 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 Formosa Advanced Technologies Co Ltd (8131)?
The net margin of Formosa Advanced Technologies Co Ltd is 13.1% (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 Formosa Advanced Technologies Co Ltd (8131)?
The return on equity (ROE) of Formosa Advanced Technologies Co Ltd is 11.9% (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 Formosa Advanced Technologies Co Ltd (8131)?
On an EBIT basis the return on assets of Formosa Advanced Technologies Co Ltd is 8.0% (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 Formosa Advanced Technologies Co Ltd (8131)?
The operating margin of Formosa Advanced Technologies Co Ltd is 15.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Formosa Advanced Technologies Co Ltd (8131)?
Revenue at Formosa Advanced Technologies Co Ltd is growing +50.2% versus a year earlier (3y avg −1.7%). 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 Formosa Advanced Technologies Co Ltd (8131)?
Earnings per share at Formosa Advanced Technologies Co Ltd are growing +182% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Formosa Advanced Technologies Co Ltd (8131) generate?
The free cash flow of Formosa Advanced Technologies Co Ltd is −459M 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 Formosa Advanced Technologies Co Ltd (8131) hold?
Formosa Advanced Technologies Co Ltd holds more cash than debt, 3.6B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 6, 2026