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D-Link Corp (2332) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of D-Link Corp stock TWD 4.85, price TWD 17.15, that is 71.7% below the price, quality 46 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Technology TW · ISIN TW0002332004

DL D-Link Corp logo Thin data Nov 8, 2026

D-Link Corp

2332 · TW
Very expensive, weak quality

Our calculation puts a fair price 72% below what the stock costs today.

Low debt
Revenue last quarter +17% vs. a year ago.
Quality 46/100
Mixed vs. peers (5/12)
Fair value 4.85 TWD · Strongly overvalued
Weak Growth (revenue 5y −2.5 %/yr in TWD)
Loss-making · -2.0% net margin (TTM)
Negative free cash flow
Narrow moat 17/100
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

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

Price vs Fair Value

27.18 TWD 13.46 TWD Fair Value 4.85 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range 13.46 TWD – 27.18 TWD · fair‑value band 3.20 TWD – 6.06 TWD · the 17.15 TWD price screens above the 4.85 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

D-Link Corporation researches, develops, and sells local area computer network systems, wireless local area computer networks, and spare parts for integrated circuits in Taiwan, India, and internationally.

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It offers home networking products, such as Wi-Fi systems, routers, and range extenders, as well as adapters, switches, DSL modems and routers, and mobile Wi-Fi hotspots; cameras, smart plugs, sensors, and hubs; and accessories, including USB hubs.

In addition, the company provides switches, which consist of cloud managed and unmanaged switches, smart switches, data centre switches, IP surveillance, consumer, enterprise, and industrial switches, and switch accessories; transceivers and modules, PoE injectors, stacking cables, and NIC cards and media converters; and VPN security routers, managed platform, and hardware-managed access points.

Further, it offers management software; wireless products; camera accessories and network video recorders; network security products, including UTM firewalls and VPN routers; and network infrastructure.

Additionally, the company offers smart home ecosystems and edge cloud solutions; D-ViewCam, a video management software; and D-View 8, a network management software. D-Link Corporation was founded in 1986 and is based in Taipei, Taiwan.

Stock analysis

D-Link Corp (2332) currently trades at 17.15 TWD, while our model-based Fair Value estimate is 4.85 TWD, 72% 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 81/100, which puts the data coverage at low.

Scenario range: 3.20 TWD (bear) to 6.06 TWD (bull), the price of 17.15 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 46/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

D-Link Corp reported revenue of 13.4B TWD in FY2025 versus 15.5B TWD in FY2021, a compound −3.7%/yr. Reported net income was −540M TWD in FY2025.

Key figures

Market cap 10.2B TWD (≈ $309M) Small · P/S ratio 0.87 · EPS (TTM) −0.4600 TWD · Dividend yield 1.4% · Net margin −2.0% · Return on equity −1.5% · Return on assets (EBIT) 0.7% (5-year average) · Operating margin 1.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 17 out of 100 (medium confidence).

What moves the price

The share trades about 34% below its 52-week high and 26% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −45% fair-value upside, at −72%, 2332 screens richer than that median.

Fair Value models

Bear 3.20 TWD Fair Value 4.85 TWD Bull 6.06 TWD
Price 17.15 TWD · Downside -71.7%
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
NCAV (Graham) 3.20 TWD 4.85 TWD 6.06 TWD 54
All 1 models by family
Asset-Based
NCAV (Graham) 3.20 TWD 4.85 TWD 6.06 TWD 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 46/100

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

Profitability 20
How much profit the company makes from its sales and capital
Quality Growth 14
Are margins and returns getting better?
Cashflow 6
Do the profits arrive as real cash?
Financial strength 80
Debt, balance sheet and risk of trouble
Investment 99
Does it invest with discipline instead of growing at any price?
Low Volatility 61
How calm the share price moves, does not count
Price momentum 46
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 32
Distance to the 52-week high, does not count
New shares 82
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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−7.1%
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.
−7.8%
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.
−2.5%
Start year 2020 (pandemic). Over 10 years: −6.7% a year
Revenue growth 25 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.
−0.2%
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.
10.0% (2020) → −2.5% (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

2332 screens overvalued: fair value 72% below the price. Compare with Cisco Systems, 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.Communication Equipment · 303 stocks

Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside −71.7% · Bottom 25%
Profitability
Return on assets −3.4% · Bottom 25%
Net margin (12 months) −2.0% · Below median
Operating margin (12 months) 1.8% · Below median
Growth and dividend
Revenue growth (quarter YoY) 17.0% · Above median
Dividend yield (12 months) 1.4% · Above median
Balance sheet
Debt / equity 0.05× · Above median

Valuation Multiplesvs Communication Equipment median · lower = cheaper

P/B 1.22× · Cheaper than median
P/S (12 months) 0.73× · Cheapest 25%
PEG 0.90× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)85 · sector 57
PAST (return on equity)0 · sector 21
HEALTH (low debt)98 · sector 98
DIVIDEND (yield)28 · sector 24

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 Communication Equipment stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Cisco Systems, Inc CSCO $93.85 $105.29 +12% vs 2332
Eoptolink Technology Inc 300502 ¥172.10 ¥189.31 +10% vs 2332
Ubiquiti Inc UI $592.84 $652.12 +10% vs 2332
Zhongji Innolight Co 300308 ¥448.00 ¥342.18 −24% vs 2332
Nokia Oyj NOKIA €6.98 €3.87 −45% vs 2332
Motorola Solutions, Inc MSI $514.51 $249.63 −51% vs 2332
Foxconn Industrial Internet Co 601138 ¥40.71 ¥13.93 −66% vs 2332
Ciena Corporation CIEN $243.39 $74.58 −69% vs 2332
Yangtze Optical Fibre And Cable Joint Stock Limited 601869 ¥240.00 ¥59.92 −75% vs 2332
Lumentum Holdings LITE $538.59 $85.88 −84% vs 2332

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D-Link Corp: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "D-Link Corp Fair Value". https://www.fairvalue-calculator.com/stock/2332

Frequently asked questions

Is D-Link Corp (2332) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 4.85 TWD versus a price of 17.15 TWD, about 72% lower (overvalued).
What is the fair value of 2332?
Our model-based fair value for D-Link Corp is 4.85 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 17.15 TWD.
What is the quality score of 2332?
D-Link Corp has a Quality Score of 46/100. 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 D-Link Corp (2332)?
Our model-based price target is the fair value of 4.85 TWD (as of Nov 8, 2026) from 1 valuation models. Cautious scenario 3.20 TWD, optimistic scenario 6.06 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the D-Link Corp stock forecast for 2026?
Our models put fair value at 4.85 TWD, about 72% lower versus a price of 17.15 TWD (overvalued). Cautious scenario 3.20 TWD, optimistic scenario 6.06 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of D-Link Corp (2332)?
D-Link Corp reported trailing-twelve-month revenue of about 14.0B TWD (latest available figure, as of Nov 8, 2026).
Does D-Link Corp pay a dividend?
D-Link Corp currently shows a dividend yield of 1.42% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of D-Link Corp (2332)?
D-Link Corp has a dividend yield of 1.4%.
What is the intrinsic value of D-Link Corp (2332)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For D-Link Corp it is 4.85 TWD per share (as of Nov 8, 2026), against a price of 17.15 TWD. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is D-Link Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 2332 trades above its calculated fair value: price 17.15 TWD, fair value 4.85 TWD, a gap of about −72% (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 2332?
No. The price is what the market pays today (17.15 TWD); the fair value is what the company's own numbers justify (4.85 TWD). For D-Link Corp the two are 12.30 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is D-Link Corp worth?
The market values D-Link Corp at about 10.2B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 17.15 TWD; our models calculate a fair value of 4.85 TWD per share.
What do the bullish and bearish scenarios say about 2332?
Our models span a range for D-Link Corp: cautious scenario 3.20 TWD, base 4.85 TWD, optimistic 6.06 TWD per share (as of Nov 8, 2026, price 17.15 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 2332?
The PEG ratio of D-Link Corp is 0.90 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of D-Link Corp (2332)?
Balance-sheet figures for D-Link Corp (as of Nov 8, 2026): return on equity −1.5%, debt of 0.05 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 2332 from its 52-week high?
D-Link Corp trades at 17.15 TWD, about 34% below its 52-week high of 25.95 TWD and 26% above the low of 13.65 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 4.85 TWD is for.
Which stocks are comparable to D-Link Corp?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Motorola Solutions, 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 D-Link Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 17.15 TWD, calculated fair value 4.85 TWD (−72%), Quality Score 46/100, 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 2332 calculated?
We run D-Link Corp through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 4.85 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. D-Link Corp 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 D-Link Corp (2332)?
The closing price on Nov 9, 2026 was 17.15 TWD. Our model-based fair value is 4.85 TWD, about 72% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with D-Link Corp right now?
The price sits above even our optimistic bull case (6.06 TWD). The favourable scenario is already priced in. Weak quality (46/100) 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. A fairly wide model range (3.20 TWD to 6.06 TWD) leaves room in how you read the outcome.

Key figures of D-Link Corp

How large is the market capitalisation of D-Link Corp (2332)?
The market capitalisation of D-Link Corp is 10.2B TWD (≈ $309M). 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 D-Link Corp (2332)?
The price-to-sales ratio of D-Link Corp is 0.87 (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 D-Link Corp (2332)?
Earnings per share at D-Link Corp are −0.4600 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of D-Link Corp (2332)?
The dividend yield of D-Link Corp is 1.4%. 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 D-Link Corp (2332)?
The net margin of D-Link Corp is −2.0% (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 D-Link Corp (2332)?
The return on equity (ROE) of D-Link Corp is −1.5% (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 D-Link Corp (2332)?
On an EBIT basis the return on assets of D-Link Corp is 0.7% (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 D-Link Corp (2332)?
The operating margin of D-Link Corp is 1.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at D-Link Corp (2332)?
Revenue at D-Link Corp is growing +17.0% versus a year earlier (3y avg −7.8%). 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 D-Link Corp (2332)?
Earnings per share at D-Link Corp are growing −94.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does D-Link Corp (2332) generate?
The free cash flow of D-Link Corp is −333M 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 D-Link Corp (2332) hold?
D-Link Corp holds more cash than debt, 2.1B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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