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Qisda Corporation (2352) Fair Value & Analysis

Technology · TW · Market cap 48.0B TWD

QC Qisda Corporation 2352 · TW
Price28.30 TWD
Fair Value10.45 TWD
Upside-63.1%
Quality40/100
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Weak Growth
Thin margins · 0.5% net margin
Moderate debt · generates free cash flow
3.26% dividend yield
Trails peers (5/14)
Narrow moat 23/100
Evidence: Medium Range 9.21 TWD – 13.06 TWD Share as image

Fair value as of: Jul 23, 2026

From 23 valuation models · updated 18 days ago

Share price −17.7% over the past month.

Below-average quality, and screening another 63% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (13.06 TWD). The favourable scenario is already priced in.
  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

61.23 TWD 22.75 TWD Fair Value 10.45 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 22.75 TWD – 61.23 TWD · fair‑value band 9.21 TWD – 13.06 TWD · the 28.30 TWD price screens above the 10.45 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Qisda Corporation (2352) currently trades at 28.30 TWD, while our model-based Fair Value estimate is 10.45 TWD, implying the stock looks roughly 63.1% overvalued today. The Quality Score stands at 40/100 (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: medium).

Over the trailing twelve months, Qisda Corporation generated revenue of 210B TWD at a net margin of 0.5%. Revenue grew 3.6% year over year. It earns a return on equity of 1.9%. Net debt stands at 57.3B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 9.21 TWD (bear case) to 13.06 TWD (bull case); at 28.30 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 25% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -63%, 2352 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 19.68 TWD 29.21 TWD 42.02 TWD 80
Residual Income 13.45 TWD 13.32 TWD 12.00 TWD 76
Rev-Margin DCF 14.38 TWD 23.74 TWD 33.58 TWD 74
All 23 models by family
DCF Models
FCF DCF 18.86 TWD 28.94 TWD 42.98 TWD 38
Owner Earnings 7.82 TWD 13.37 TWD 21.11 TWD 31
5Y Revenue Exit 14.38 TWD 23.37 TWD 34.21 TWD 39
5Y EBITDA Exit 36.13 TWD 61.40 TWD 89.37 TWD 41
5Y P/E Exit 9.27 TWD 14.42 TWD 19.36 TWD 38
10Y Revenue Exit 15.33 TWD 23.58 TWD 33.37 TWD 36
10Y EBITDA Exit 29.36 TWD 49.07 TWD 72.95 TWD 37
10Y P/E Exit 12.68 TWD 17.59 TWD 22.71 TWD 35
Earnings-Based
Graham-Dodd 4.92 TWD 10.31 TWD 13.04 TWD 54
PEG = 1.0 1.54 TWD 2.20 TWD 2.86 TWD 46
EPV 5.25 TWD 7.09 TWD 8.70 TWD 59
Multiples
P/E Multiple 10.84 TWD 14.46 TWD 18.07 TWD 63
P/S Multiple 9.22 TWD 12.29 TWD 15.36 TWD 58
P/B Multiple 9.22 TWD 12.29 TWD 15.36 TWD 55
EV/EBIT 22.12 TWD 31.41 TWD 40.70 TWD 53
EV/EBITDA 53.88 TWD 73.76 TWD 93.64 TWD 54
EV/Revenue 13.03 TWD 21.09 TWD 29.14 TWD 43
Asset-Based
NCAV (Graham) 9.02 TWD 12.09 TWD 18.04 TWD 50
Growth DCF
Growth DCF 19.68 TWD 29.21 TWD 42.02 TWD 80
Rev-Margin DCF 14.38 TWD 23.74 TWD 33.58 TWD 74
Economic Profit
Residual Income 13.45 TWD 13.32 TWD 12.00 TWD 76
ROIC Compounder 5.25 TWD 7.09 TWD 8.70 TWD 72
Growth Earnings
Growth-Adj P/E 7.98 TWD 11.40 TWD 14.81 TWD 68

Widest divergence: Growth DCF (23.74 TWD) versus Earnings-Based (7.09 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 210B TWD
Revenue growth (YoY) +3.6%
Net margin 0.5%
Return on equity 1.9%
Free cash flow 3.7B TWD FY2025
P/E ratio 51.5
More key figures
Operating margin 1.3%
EPS (TTM) 0.5900 TWD
Dividend yield 3.3%
EPS growth (YoY) -20.0%
Net debt 57.3B TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 39 · Market factors (momentum, volatility) 53

Profitability 34
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 27
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

Qisda Corporation, together with its subsidiaries, manufactures, sells, and services monitors, opto-mechatronics products, and optoelectronics film in Taiwan, the Americas, Mainland China, Japan, and internationally.

Full company description

Qisda Corporation, together with its subsidiaries, manufactures, sells, and services monitors, opto-mechatronics products, and optoelectronics film in Taiwan, the Americas, Mainland China, Japan, and internationally. It operates through five segments: Design and Manufacturing Services (DMS), Brand Marketing, Materials Science, Medical Services, and Network Communication Department. The company engages in design, research, manufacturing, and sale of electronic, brand name, broadband, wireless network, and computer network system equipment products; and operates hospital profession, as well as provides medical services, hemodialysis, imaging consumables, and equipment. The company also offers IT products, such as display, projectors, and cameras, as well as IA solutions, machine visions, and automotive solutions; and smart solutions, including smart enterprise, energy, healthcare, manufacturing, education, and mart retail solutions. In addition, the digital multimedia company manufactures medical and care products. Further, it provides networking and communication products, such as LAN/MAN, wireless and mobile broadband networks, digital multimedia, and mobile products. Qisda Corporation was incorporated in 1984 and is headquartered in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Qisda Corporation reported revenue of 208B TWD in FY2025 versus 226B TWD in FY2021, a compound −2.1%/yr. Reported net income was 1.1B TWD in FY2025, compounding −39.1%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
208B TWD
Latest YoY
+3.1%
Avg. growth/yr (3Y)
−4.7%
Avg. growth/yr (5Y)
+1.6%
Avg. growth/yr (25Y)
+4.9%
Revenue −2.1%/yr
FY21 226B TWD
FY22 240B TWD
FY23 204B TWD
FY24 202B TWD
FY25 208B TWD
Net income −39.1%/yr
FY21 8.3B TWD
FY22 11.1B TWD
FY23 3.0B TWD
FY24 2.2B TWD
FY25 1.1B TWD

2352 screens 63% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Qisda Corporation Fair Value". https://www.fairvalue-calculator.com/stock/2352

Peer Group

Computer Hardware · 215 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 40 · Bottom 25%
Fair Value upside −63% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth 4% · Below median
Dividend yield (TTM) 3.3% · Above median
Debt / equity 1.25× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 51.5× · Pricier than 75% of peers
P/B 1.68× · Cheaper than median
P/S (TTM) 0.23× · Cheaper than 75% of peers
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 7.1× · 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 18 · sector 57
PAST 8 · sector 26
HEALTH 37 · sector 97
DIVIDEND 65 · sector 44

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is Qisda Corporation (2352) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 10.45 TWD versus a price of 28.30 TWD, about −63% (overvalued).
What is the fair value of 2352?
Our model-based fair value for Qisda Corporation is 10.45 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 28.30 TWD.
What is the quality score of 2352?
Qisda Corporation has a Quality Score of 40/100. 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 Qisda Corporation (2352)?
Qisda Corporation reported trailing-twelve-month revenue of about 210B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 2352?
The net profit margin of Qisda Corporation is about 0.5%, meaning it keeps roughly 0.5% of revenue as net income. Based on the latest reported figures.
Does Qisda Corporation pay a dividend?
Qisda Corporation currently shows a dividend yield of about 3.33% relative to its recent price (as of Jul 23, 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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