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Accton Technology Corporation (2345) Fair Value & Analysis

Technology · TW · Market cap 1.2T TWD

AT Accton Technology Corporation 2345 · TW
Price2,215 TWD
Fair Value846.28 TWD
Upside-61.8%
Quality72/100
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Healthy Growth
Solidly profitable · 10.7% net margin
Low debt · generates free cash flow
0.60% dividend yield
Mixed vs. peers (8/14)
Wide moat 72/100
Evidence: High Range 634.80 TWD – 1,557 TWD Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 21 days ago

Share price −8.3% over the past month.

A solid business, but screening 62% overvalued on our models.

What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (1,557 TWD). The favourable scenario is already priced in.
  • A fairly wide model range (634.80 TWD to 1,557 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

2,750 TWD 194.42 TWD Fair Value 846.28 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 194.42 TWD – 2,750 TWD · fair‑value band 634.80 TWD – 1,557 TWD · the 2,215 TWD price screens above the 846.28 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Accton Technology Corporation (2345) currently trades at 2,215 TWD, while our model-based Fair Value estimate is 846.28 TWD, implying the stock looks roughly 61.8% overvalued today. We read business quality at 72/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Accton Technology Corporation generated revenue of 276B TWD at a net margin of 10.7%. Revenue grew 64.0% year over year. It earns a return on equity of 56.1%. The balance sheet holds a net cash position of 24.6B TWD. Fundamentals as of Jul 17, 2026

Our scenario range runs from 634.80 TWD (bear case) to 1,557 TWD (bull case); at 2,215 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 18% below its 52-week high and 217% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -64% fair-value upside, at -62%, 2345 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 875.31 TWD 1,787 TWD 3,557 TWD 80
Residual Income 443.05 TWD 724.39 TWD 14,099 TWD 76
Rev-Margin DCF 681.51 TWD 1,241 TWD 2,054 TWD 74
All 26 models by family
DCF Models
FCF DCF 906.59 TWD 1,586 TWD 3,494 TWD 38
Owner Earnings 710.65 TWD 1,537 TWD 3,291 TWD 31
5Y Revenue Exit 681.51 TWD 1,220 TWD 2,119 TWD 39
5Y EBITDA Exit 702.76 TWD 1,267 TWD 2,146 TWD 41
5Y P/E Exit 784.12 TWD 1,505 TWD 2,408 TWD 38
10Y Revenue Exit 724.06 TWD 1,349 TWD 2,218 TWD 36
10Y EBITDA Exit 760.87 TWD 1,388 TWD 2,473 TWD 37
10Y P/E Exit 818.82 TWD 1,539 TWD 2,725 TWD 35
Earnings-Based
Graham-Dodd 320.05 TWD 2,099 TWD 2,938 TWD 54
Lynch FV 611.49 TWD 873.56 TWD 1,136 TWD 50
PEG = 1.0 611.49 TWD 873.56 TWD 1,136 TWD 46
EPV 506.42 TWD 587.01 TWD 658.65 TWD 59
Dividend Discount
Gordon GGM 105.81 TWD 231.00 TWD 388.67 TWD 70
DDM Multi-Stage 105.81 TWD 189.23 TWD 240.74 TWD 61
Multiples
P/E Multiple 706.00 TWD 941.33 TWD 1,177 TWD 63
P/S Multiple 600.10 TWD 800.13 TWD 1,000 TWD 58
P/B Multiple 231.64 TWD 308.85 TWD 386.06 TWD 55
EV/EBIT 825.94 TWD 1,085 TWD 1,343 TWD 53
EV/EBITDA 640.46 TWD 837.36 TWD 1,034 TWD 54
EV/Revenue 572.96 TWD 797.19 TWD 1,021 TWD 43
Asset-Based
NCAV (Graham) 51.47 TWD 68.98 TWD 102.95 TWD 50
Growth DCF
Growth DCF 875.31 TWD 1,787 TWD 3,557 TWD 80
Rev-Margin DCF 681.51 TWD 1,241 TWD 2,054 TWD 74
Economic Profit
Residual Income 443.05 TWD 724.39 TWD 14,099 TWD 76
ROIC Compounder 553.40 TWD 702.66 TWD 883.92 TWD 72
Growth Earnings
Growth-Adj P/E 838.37 TWD 1,198 TWD 1,557 TWD 68

Widest divergence: DCF Models (1,388 TWD) versus Asset-Based (68.98 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 276B TWD
Revenue growth (YoY) +64.0%
Net margin 10.7%
Return on equity 56.1%
Free cash flow 29.8B TWD FY2025
P/E ratio 45.3
More key figures
Operating margin 14.3%
EPS (TTM) 46.86 TWD
Dividend yield 0.6%
EPS growth (YoY) +62.9%
Net cash 24.6B TWD FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 72 · Market factors (momentum, volatility) 72

Profitability 81
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 79
Price trend over the last 3–12 months (market factor)
52W Momentum 85
Distance to the 52-week high (market factor)
Net Issuance 87
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Accton Technology Corporation develops, manufactures, and sells computer network systems and wireless land area network (LAN) hardware and software products in Taiwan and internationally.

Full company description

Accton Technology Corporation develops, manufactures, and sells computer network systems and wireless land area network (LAN) hardware and software products in Taiwan and internationally. The company offers 800G AI/ML fabrics, fiber optical transceivers, hyper network appliances, and edge servers, as well as data centers, metro ethernet, telecommunication networks, school/enterprise networks, and software-defined wide area network. It also provides data center switches, open packet transponders, cloud service appliances, and ethernet BOF; edge-computing; wired and wireless network solutions; carrier access platforms and disaggregated open solutions; and IoT integration solutions. In addition, the company engages in the production and sale of network switches; design, research, development, manufacture, and sale of switching hubs; and provision of information software and information technology services, as well as e-commerce apps, and advertising services. Further, it offers network products; and technical consulting and engineering design services. Additionally, the company provides data center networks, edge computing, cloud networks, carrier access, and IoT integration solutions. Accton Technology Corporation was incorporated in 1988 and is headquartered in Hsinchu City, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Accton Technology Corporation reported revenue of 248B TWD in FY2025 versus 59.6B TWD in FY2021, a compound +42.9%/yr. Reported net income was 26.3B TWD in FY2025, compounding +53.8%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
248B TWD
Latest YoY
+124.9%
Avg. growth/yr (3Y)
+47.6%
Avg. growth/yr (5Y)
+35.5%
Avg. growth/yr (23Y)
+12.5%
Revenue +42.9%/yr
FY21 59.6B TWD
FY22 77.2B TWD
FY23 84.2B TWD
FY24 110B TWD
FY25 248B TWD
Net income +53.8%/yr
FY21 4.7B TWD
FY22 8.2B TWD
FY23 8.9B TWD
FY24 12.0B TWD
FY25 26.3B TWD

2345 screens 62% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "Accton Technology Corporation Fair Value". https://www.fairvalue-calculator.com/stock/2345

Peer Group

Communication Equipment · 284 stocks

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.

Quality Score 72 · Top 25%
Fair Value upside −62% · Below median
Return on equity (TTM) 56% · Top 25%
Return on assets 17% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 64% · Top 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 45.3× · Pricier than median
P/B 20.64× · Pricier than 75% of peers
P/S (TTM) 4.31× · Pricier than 75% of peers
P/FCF 1.2× · Cheaper than median
EV/EBITDA 30.7× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 30
PAST 100 · sector 15
HEALTH 100 · sector 98
DIVIDEND 12 · sector 27

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

Insider activity: 45/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%
Accelink Technologies Co 002281 ¥189.45 ¥22.87 -88%

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Frequently asked questions

Is Accton Technology Corporation (2345) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 846.28 TWD versus a price of 2,215 TWD, about −62% (overvalued).
What is the fair value of 2345?
Our model-based fair value for Accton Technology Corporation is 846.28 TWD (as of Jul 17, 2026), built from audited fundamentals. The current price is 2,215 TWD.
What is the quality score of 2345?
Accton Technology Corporation has a Quality Score of 72/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Accton Technology Corporation (2345)?
Accton Technology Corporation reported trailing-twelve-month revenue of about 276B TWD (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 2345?
The net profit margin of Accton Technology Corporation is about 10.7%, meaning it keeps roughly 10.7% of revenue as net income. Based on the latest reported figures.
Does Accton Technology Corporation pay a dividend?
Accton Technology Corporation currently shows a dividend yield of about 0.60% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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