EN DE

SDI Corporation (2351) Fair Value & Analysis

Technology · TW · Market cap 28.4B TWD

SC SDI Corporation 2351 · TW
Price170.00 TWD
Fair Value43.18 TWD
Upside-74.6%
Quality47/100
Watch SDI Corporation for free, get notified when fair value or trend changes. Watch for free
Mixed Growth
Thin margins · 3.9% net margin
Low debt · generates free cash flow
Trails peers (3/14)
Narrow moat 35/100
Evidence: High Range 33.04 TWD – 54.53 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 28.89 TWD to 43.18 TWD (+49.5%) since Jul 7, 2026. Share price −16.5% over the past month.

Below-average quality, and screening another 75% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (54.53 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

229.00 TWD 61.70 TWD Fair Value 43.18 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 61.70 TWD – 229.00 TWD · fair‑value band 33.04 TWD – 54.53 TWD · the 170.00 TWD price screens above the 43.18 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

SDI Corporation (2351) currently trades at 170.00 TWD, while our model-based Fair Value estimate is 43.18 TWD, implying the stock looks roughly 74.6% overvalued today. The Quality Score stands at 47/100 (below-average 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, SDI Corporation generated revenue of 10.5B TWD at a net margin of 3.9%. Revenue grew 11.0% year over year. It earns a return on equity of 6.0%. Net debt stands at 2.0B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 33.04 TWD (bear case) to 54.53 TWD (bull case); at 170.00 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 share trades about 27% below its 52-week high and 157% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -75%, 2351 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 10.60 TWD 15.31 TWD 22.85 TWD 80
Residual Income 29.08 TWD 29.42 TWD 27.55 TWD 76
Rev-Margin DCF 16.45 TWD 27.34 TWD 39.94 TWD 74
All 24 models by family
DCF Models
FCF DCF 10.12 TWD 15.00 TWD 23.35 TWD 38
Owner Earnings 1.07 TWD 2.56 TWD 5.12 TWD 31
5Y Revenue Exit 16.45 TWD 27.19 TWD 41.95 TWD 39
5Y EBITDA Exit 36.83 TWD 62.23 TWD 93.83 TWD 41
5Y P/E Exit 15.51 TWD 25.57 TWD 36.77 TWD 38
10Y Revenue Exit 13.22 TWD 22.28 TWD 33.04 TWD 36
10Y EBITDA Exit 26.48 TWD 45.55 TWD 68.22 TWD 37
10Y P/E Exit 13.33 TWD 21.21 TWD 29.53 TWD 35
Earnings-Based
Graham-Dodd 11.32 TWD 20.83 TWD 25.80 TWD 54
EPV 18.22 TWD 21.74 TWD 24.82 TWD 59
Dividend Discount
Gordon GGM 22.95 TWD 30.58 TWD 38.33 TWD 70
DDM Multi-Stage 22.95 TWD 31.56 TWD 41.83 TWD 61
Multiples
P/E Multiple 24.97 TWD 33.29 TWD 41.62 TWD 63
P/S Multiple 21.22 TWD 28.30 TWD 35.37 TWD 58
P/B Multiple 21.22 TWD 28.30 TWD 35.37 TWD 55
EV/EBIT 34.05 TWD 46.37 TWD 58.69 TWD 53
EV/EBITDA 61.30 TWD 82.71 TWD 104.12 TWD 54
EV/Revenue 22.00 TWD 32.68 TWD 43.36 TWD 43
Asset-Based
NCAV (Graham) 19.11 TWD 25.61 TWD 38.22 TWD 50
Growth DCF
Growth DCF 10.60 TWD 15.31 TWD 22.85 TWD 80
Rev-Margin DCF 16.45 TWD 27.34 TWD 39.94 TWD 74
Economic Profit
Residual Income 29.08 TWD 29.42 TWD 27.55 TWD 76
ROIC Compounder 18.22 TWD 21.74 TWD 24.82 TWD 72
Growth Earnings
Growth-Adj P/E 17.77 TWD 25.38 TWD 32.99 TWD 68

Widest divergence: Multiples (32.68 TWD) versus Growth DCF (15.31 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 10.5B TWD
Revenue growth (YoY) +11.0%
Net margin 3.9%
Return on equity 6.0%
Free cash flow 232M TWD FY2025
P/E ratio 95.1
More key figures
Operating margin 9.7%
EPS (TTM) 1.64 TWD
EPS growth (YoY) +82.5%
Net debt 2.0B TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 47 · Market factors (momentum, volatility) 65

Profitability 31
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 43
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 18
Calm price path (market factor)
Momentum 86
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 49
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

SDI Corporation, together with its subsidiaries, manufactures and sells semiconductor lead frames, LED lead frames, stationery and office products, and high precision dies in Taiwan, China, Japan, Malaysia, and internationally.

Full company description

SDI Corporation, together with its subsidiaries, manufactures and sells semiconductor lead frames, LED lead frames, stationery and office products, and high precision dies in Taiwan, China, Japan, Malaysia, and internationally. The company engages in the smelting and rolling of metal strips; manufacturing and processing of electronic components and molds; and international trade business. SDI Corporation was founded in 1953 and is headquartered in Changhua, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SDI Corporation reported revenue of 10.2B TWD in FY2025 versus 11.2B TWD in FY2021, a compound −2.1%/yr. Reported net income was 303M TWD in FY2025, compounding −22.8%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
10.2B TWD
Latest YoY
−5.2%
Avg. growth/yr (3Y)
−4.4%
Avg. growth/yr (5Y)
+3.9%
Avg. growth/yr (23Y)
+7.0%
Revenue −2.1%/yr
FY21 11.2B TWD
FY22 11.7B TWD
FY23 10.9B TWD
FY24 10.8B TWD
FY25 10.2B TWD
Net income −22.8%/yr
FY21 852M TWD
FY22 941M TWD
FY23 743M TWD
FY24 675M TWD
FY25 303M TWD

2351 screens 75% overvalued. Compare with ASML Holding →

Share or link this analysis
For bloggers & editors: embed code + live data

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). "SDI Corporation Fair Value". https://www.fairvalue-calculator.com/stock/2351

Peer Group

Semiconductor Equipment & Materials · 211 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 47 · Below median
Fair Value upside −75% · Bottom 25%
Return on equity (TTM) 6% · Below median
Return on assets 3% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 10% · Below median
Revenue growth 11% · Below median
Debt / equity 0.23× · Higher than median

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 95.1× · Pricier than 75% of peers
P/B 4.08× · Pricier than median
P/S (TTM) 2.70× · Cheaper than median
P/FCF 3.8× · Pricier than median
EV/EBITDA 22.3× · Cheaper than median
PEG 0.82× · Cheaper than 75% of peers

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 55 · sector 58
PAST 24 · sector 30
HEALTH 88 · sector 96
DIVIDEND 0 · sector 16

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

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

Compare SDI Corporation with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Technology stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is SDI Corporation (2351) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 43.18 TWD versus a price of 170.00 TWD, about −75% (overvalued).
What is the fair value of 2351?
Our model-based fair value for SDI Corporation is 43.18 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 170.00 TWD.
What is the quality score of 2351?
SDI Corporation has a Quality Score of 47/100. 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 revenue of SDI Corporation (2351)?
SDI Corporation reported trailing-twelve-month revenue of about 10.5B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2351?
The net profit margin of SDI Corporation is about 3.9%, meaning it keeps roughly 3.9% of revenue as net income. Based on the latest reported figures.

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.

14 days Pro free · no card

Track SDI Corporation and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.