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Amulaire Thermal Technology (2241) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Amulaire Thermal Technology TWD 8.33, price TWD 43.75, upside -81.0%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Consumer Cyclical · TW · ISIN TW0002241007

AT Thin data Sep 28, 2026

Amulaire Thermal Technology

2241 · TW

Weakest SetupStrongly overvalued and low quality.

!Fair value 8.33 TWD · Strongly overvalued (−81.0%)
!Quality 50/100
!Weak Growth (revenue 5y −1.5 %/yr)
!Loss-making · -7.8% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (3/10)
!Narrow moat 17/100
!Evidence only low, so the estimate is less certain
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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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

71.72 TWD 21.15 TWD Fair Value 8.33 TWD May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.

How to read this chart

60‑month range 21.15 TWD – 71.72 TWD · fair‑value band 6.22 TWD – 12.44 TWD · the 43.75 TWD price screens above the 8.33 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.

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Company profile

Amulaire Thermal Technology, Inc. engages in the manufacturing and sales of vehicles and electronic components in Taiwan, Germany, China, and Japan.

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Amulaire Thermal Technology, Inc. engages in the manufacturing and sales of vehicles and electronic components in Taiwan, Germany, China, and Japan. The company offers thermal modules and parts of inverters; heat dissipation systems and parts of high power electronic systems, such as servers and supercomputers; and consumer electronics, including projectors and CPU/GPU. It also provides customization services; thermal and mold-flow simulation analysis, and stress analysis services; and metal injection molding, forging, brazing, and friction stir wedding services. Amulaire Thermal Technology, Inc. was founded in 2011 and is headquartered in New Taipei City, Taiwan.

Stock analysis

Amulaire Thermal Technology (2241) currently trades at 43.75 TWD, while our model-based Fair Value estimate is 8.33 TWD, 81.0% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 83/100, which puts the evidence level at low.

Scenario range: 6.22 TWD (bear) to 12.44 TWD (bull), the price of 43.75 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 50/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.

Amulaire Thermal Technology reported revenue of 786M TWD in FY2025 versus 1.1B TWD in FY2021, a compound −8.8%/yr. Reported net income was −73.6M TWD in FY2025.

Key figures

Market cap 4.6B TWD (≈ $145M) · P/S ratio 4.43 · EPS (TTM) −0.7000 TWD · Net margin −9.4% · Return on equity −3.8% · Return on assets (EBIT) −6.9% · Operating margin −5.9% · Revenue (TTM) 828M TWD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 15% below its 52-week high and 61% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −27% fair-value upside, at −81%, 2241 screens richer than that median.

Fair Value models

Bear 6.22 TWD Fair Value 8.33 TWD Bull 12.44 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
NCAV (Graham) 6.42 TWD 8.60 TWD 12.83 TWD 54
All 1 models by family
Asset-Based
NCAV (Graham) 6.42 TWD 8.60 TWD 12.83 TWD 54

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Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 70

Profitability 5
Margins and returns on capital today
Quality Growth 85
Are margins and returns improving?
Cashflow 28
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 46
Share count: buybacks or dilution?

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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. 7/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+14.0%
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.
+2.4%
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.
−1.5%
Start year 2020 (pandemic). Over 10 years: +10.6% 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.
+16.9%
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.
5.1% (2020) → −16.6% (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

2241 screens overvalued: fair value 81% below the price. Compare with O'Reilly Automotive, Inc →

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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.Auto Parts · 665 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside −81.0% · Bottom 25%
Profitability
Return on assets −3.0% · Bottom 25%
Net margin (TTM) −7.8% · Bottom 25%
Operating margin (TTM) −5.9% · Bottom 25%
Growth and dividend
Revenue growth 23.9% · Top 25%
Balance sheet
Debt / equity 0.27× · Above median

Valuation Multiplesvs Auto Parts median · lower = cheaper

P/B 0.11× · Cheapest 25%
P/S (TTM) 0.17× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 25
FUTURE (revenue growth)100 · sector 29
PAST (return on equity)0 · sector 30
HEALTH (low debt)87 · sector 95
DIVIDEND (yield)0 · sector 38

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

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10 more Auto Parts stocks, each showing price versus our Fair Value estimate.

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AutoZone, Inc AZO $2,819 $2,468 −12%
Hyundai Mobis Co 012330 383,500 KRW 638,183 KRW +66%
Fuyao Glass Industry Group 600660 ¥52.47 ¥78.11 +49%
Knorr-Bremse AG KBX €99.20 €72.88 −27%
Samvardhana Motherson International Limited MOTHERSON ₹165.71 ₹96.97 −41%
Genuine Parts Company GPC $126.95 $57.98 −54%
Magna International Inc MGA $64.46 $69.37 +8%
Bosch Limited BOSCHLTD ₹48,250 ₹25,213 −48%
Ningbo Tuopu Group 601689 ¥46.44 ¥28.28 −39%

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Amulaire Thermal Technology · Fair Value
8.33 TWD −81%Fair Value
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Cite: Fair Value Calculator (2026). "Amulaire Thermal Technology Fair Value". https://www.fairvalue-calculator.com/stock/2241

Frequently asked questions

Is Amulaire Thermal Technology (2241) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of 8.33 TWD versus a price of 43.75 TWD, about −81% upside (overvalued).
What is the fair value of 2241?
Our model-based fair value for Amulaire Thermal Technology is 8.33 TWD (as of Sep 28, 2026), built from audited fundamentals. The current price: 43.75 TWD.
What is the quality score of 2241?
Amulaire Thermal Technology has a Quality Score of 50/100. 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 Amulaire Thermal Technology (2241)?
Our model-based price target is the fair value of 8.33 TWD (as of Sep 28, 2026) from 1 valuation models. Cautious scenario 6.22 TWD, optimistic scenario 12.44 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Amulaire Thermal Technology stock forecast for 2026?
Our models put fair value at 8.33 TWD, about −81% upside versus a price of 43.75 TWD (overvalued). Cautious scenario 6.22 TWD, optimistic scenario 12.44 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Amulaire Thermal Technology (2241)?
Amulaire Thermal Technology reported trailing-twelve-month revenue of about 828M TWD (latest available figure, as of Sep 28, 2026).
What is the intrinsic value of Amulaire Thermal Technology (2241)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Amulaire Thermal Technology it is 8.33 TWD per share (as of Sep 28, 2026), against a price of 43.75 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Amulaire Thermal Technology stock overvalued or undervalued in 2026?
As of Sep 28, 2026, 2241 trades above its calculated fair value: price 43.75 TWD, fair value 8.33 TWD, a gap of about −81% (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 2241?
No. The price is what the market pays today (43.75 TWD); the fair value is what the company's own numbers justify (8.33 TWD). For Amulaire Thermal Technology the two are 35.42 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Amulaire Thermal Technology worth?
The market values Amulaire Thermal Technology at about 4.6B TWD (market capitalisation, as of Sep 28, 2026). Per share that is 43.75 TWD; our models calculate a fair value of 8.33 TWD per share.
What do the bullish and bearish scenarios say about 2241?
Our models span a range for Amulaire Thermal Technology: cautious scenario 6.22 TWD, base 8.33 TWD, optimistic 12.44 TWD per share (as of Sep 28, 2026, price 43.75 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Amulaire Thermal Technology (2241)?
Balance-sheet figures for Amulaire Thermal Technology (as of Sep 28, 2026): return on equity −3.8%, debt of 0.27 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 2241 from its 52-week high?
Amulaire Thermal Technology trades at 43.75 TWD, about 15% below its 52-week high of 51.60 TWD and 61% above the low of 27.10 TWD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 8.33 TWD is for.
Which stocks are comparable to Amulaire Thermal Technology?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Amulaire Thermal Technology stock attractive at the current price?
The data as of Sep 28, 2026: price 43.75 TWD, calculated fair value 8.33 TWD (−81%), Quality Score 50/100, from 1 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 2241 calculated?
We run Amulaire Thermal Technology through 1 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 8.33 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 14.5 % above its aggregate fair value. Amulaire Thermal Technology 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 Amulaire Thermal Technology (2241)?
The closing price on Oct 2, 2026 was 43.75 TWD. Our model-based fair value is 8.33 TWD, about −81% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Amulaire Thermal Technology right now?
The price sits above even our optimistic bull case (12.44 TWD). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (6.22 TWD to 12.44 TWD) leaves room in how you read the outcome.

Key figures of Amulaire Thermal Technology

How large is the market capitalisation of Amulaire Thermal Technology (2241)?
The market capitalisation of Amulaire Thermal Technology is 4.6B TWD (≈ $145M). 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 Amulaire Thermal Technology (2241)?
The price-to-sales ratio of Amulaire Thermal Technology is 4.43 (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 Amulaire Thermal Technology (2241)?
Earnings per share at Amulaire Thermal Technology are −0.7000 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Amulaire Thermal Technology (2241)?
The net margin of Amulaire Thermal Technology is −9.4% (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 Amulaire Thermal Technology (2241)?
The return on equity (ROE) of Amulaire Thermal Technology is −3.8% (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 Amulaire Thermal Technology (2241)?
On an EBIT basis the return on assets of Amulaire Thermal Technology is −6.9% (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 Amulaire Thermal Technology (2241)?
The operating margin of Amulaire Thermal Technology is −5.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Amulaire Thermal Technology (2241)?
Revenue at Amulaire Thermal Technology is growing +23.9% versus a year earlier (3y avg +2.4%). 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 Amulaire Thermal Technology (2241)?
Earnings per share at Amulaire Thermal Technology are growing −94.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Amulaire Thermal Technology (2241) generate?
The free cash flow of Amulaire Thermal Technology is −183M 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 Amulaire Thermal Technology (2241) carry?
The net debt of Amulaire Thermal Technology is 359M 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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