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Chroma ATE Inc (2360) Fair Value & Analysis

Technology · TW · Market cap 807B TWD

CA Chroma ATE Inc 2360 · TW
Price2,030 TWD
Fair Value286.15 TWD
Upside-85.9%
Quality70/100
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Expensive Growth
Highly profitable · 40.3% net margin
Low debt · generates free cash flow
1.07% dividend yield
Mixed vs. peers (6/15)
Wide moat 91/100
Evidence: High Range 200.31 TWD – 390.46 TWD Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 23 days ago

Fair value updated Jul 15, 2026, revised from 287.40 TWD to 286.15 TWD (−0.4%) since Jul 7, 2026. Share price +9.4% over the past month.

A solid business, but screening 86% overvalued on our models.

What matters now

  • A high-quality business (quality 70/100), 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 (390.46 TWD). The favourable scenario is already priced in.
  • A fairly wide model range (200.31 TWD to 390.46 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

2,603 TWD 119.27 TWD Fair Value 286.15 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 119.27 TWD – 2,603 TWD · fair‑value band 200.31 TWD – 390.46 TWD · the 2,030 TWD price screens above the 286.15 TWD fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Chroma ATE Inc (2360) currently trades at 2,030 TWD, while our model-based Fair Value estimate is 286.15 TWD, implying the stock looks roughly 85.9% overvalued today. We read business quality at 70/100 (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, Chroma ATE Inc generated revenue of 33.3B TWD at a net margin of 40.3%. Revenue grew 72.8% year over year. It earns a return on equity of 52.1%. The balance sheet holds a net cash position of 2.3B TWD. Fundamentals as of Jul 15, 2026

Our scenario range runs from 200.31 TWD (bear case) to 390.46 TWD (bull case); at 2,030 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, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -45% fair-value upside, at -86%, 2360 screens richer 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 101.34 TWD 170.74 TWD 292.16 TWD 80
Residual Income 212.31 TWD 304.02 TWD 3,146 TWD 76
Rev-Margin DCF 114.90 TWD 195.68 TWD 296.08 TWD 74
All 26 models by family
DCF Models
FCF DCF 100.91 TWD 172.86 TWD 298.40 TWD 38
Owner Earnings 322.09 TWD 563.27 TWD 984.12 TWD 31
5Y Revenue Exit 114.90 TWD 197.78 TWD 308.99 TWD 39
5Y EBITDA Exit 180.94 TWD 329.63 TWD 513.87 TWD 41
5Y P/E Exit 295.22 TWD 557.80 TWD 853.63 TWD 38
10Y Revenue Exit 105.54 TWD 183.21 TWD 298.94 TWD 36
10Y EBITDA Exit 153.77 TWD 280.27 TWD 469.08 TWD 37
10Y P/E Exit 230.26 TWD 448.25 TWD 751.23 TWD 35
Earnings-Based
Graham-Dodd 187.70 TWD 773.50 TWD 1,054 TWD 54
Lynch FV 194.76 TWD 278.23 TWD 361.70 TWD 50
PEG = 1.0 194.76 TWD 278.23 TWD 361.70 TWD 46
EPV 177.00 TWD 207.02 TWD 233.70 TWD 59
Dividend Discount
Gordon GGM 86.93 TWD 189.77 TWD 319.30 TWD 70
DDM Multi-Stage 86.93 TWD 155.45 TWD 197.77 TWD 61
Multiples
P/E Multiple 414.03 TWD 552.04 TWD 690.06 TWD 63
P/S Multiple 125.32 TWD 167.09 TWD 208.86 TWD 58
P/B Multiple 169.43 TWD 225.91 TWD 282.39 TWD 55
EV/EBIT 300.02 TWD 397.73 TWD 495.44 TWD 53
EV/EBITDA 237.94 TWD 314.96 TWD 391.98 TWD 54
EV/Revenue 123.85 TWD 173.98 TWD 224.11 TWD 43
Asset-Based
NCAV (Graham) 37.65 TWD 50.45 TWD 75.30 TWD 50
Growth DCF
Growth DCF 101.34 TWD 170.74 TWD 292.16 TWD 80
Rev-Margin DCF 114.90 TWD 195.68 TWD 296.08 TWD 74
Economic Profit
Residual Income 212.31 TWD 304.02 TWD 3,146 TWD 76
ROIC Compounder 197.61 TWD 260.66 TWD 340.72 TWD 72
Growth Earnings
Growth-Adj P/E 325.96 TWD 465.66 TWD 605.36 TWD 68

Widest divergence: Growth Earnings (465.66 TWD) versus Asset-Based (50.45 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 33.3B TWD
Revenue growth (YoY) +72.8%
Net margin 40.3%
Return on equity 52.1%
Free cash flow 3.1B TWD FY2025
P/E ratio 60.2
More key figures
Operating margin 40.5%
EPS (TTM) 31.67 TWD
Dividend yield 1.1%
EPS growth (YoY) +82.1%
Net cash 2.3B TWD FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 69 · Market factors (momentum, volatility) 63

Profitability 81
Margins and returns on capital today
Quality Growth 79
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 21
Calm price path (market factor)
Momentum 79
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 76
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

Chroma ATE Inc. designs, assembles, manufactures, sells, repairs, and maintains software/hardware for computers and peripherals, computerized automatic test systems, electronic test instruments, signal generators, power supplies, and telecom power supplies in Taiwan, China, the United States, and internationally.

Full company description

Chroma ATE Inc. designs, assembles, manufactures, sells, repairs, and maintains software/hardware for computers and peripherals, computerized automatic test systems, electronic test instruments, signal generators, power supplies, and telecom power supplies in Taiwan, China, the United States, and internationally. The company provides test solutions, such as semiconductor/IC test; automated optical inspection; power electronics; server power and backup battery unit; electric vehicle; battery test and automation; energy storage and power conversion test; passive component; electrical safety; video and color; flat panel display; photonics; LED and driver; photovoltaic; semiconductor/IC; and general-purpose test solutions; battery; photovoltaic/inverter; and turnkey test and automation solutions; automated optical inspection; PXI test and measurement; intelligent manufacturing system, and other solutions. The company also offers warranty, calibration and repair, instrument and test system calibration and repair, customer-site installation, product upgrade, training, technical support, and product support services, as well as replacement parts. Its products are used in information technology, communication, aerospace, and defense industries, as well as hybrid automobiles, LED luminance devices, and solar and fuel cells. The company 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

Chroma ATE Inc reported revenue of 28.3B TWD in FY2025 versus 17.6B TWD in FY2021, a compound +12.6%/yr. Reported net income was 11.7B TWD in FY2025, compounding +29.3%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
28.3B TWD
Latest YoY
+31.0%
Avg. growth/yr (3Y)
+8.7%
Avg. growth/yr (5Y)
+12.8%
Avg. growth/yr (23Y)
+9.2%
Revenue +12.6%/yr
FY21 17.6B TWD
FY22 22.1B TWD
FY23 18.7B TWD
FY24 21.6B TWD
FY25 28.3B TWD
Net income +29.3%/yr
FY21 4.2B TWD
FY22 5.1B TWD
FY23 4.0B TWD
FY24 5.3B TWD
FY25 11.7B TWD

2360 screens 86% overvalued. Compare with Keysight Technologies, Inc →

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Cite: Fair Value Calculator (2026). "Chroma ATE Inc Fair Value". https://www.fairvalue-calculator.com/stock/2360

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Scientific & Technical Instruments · 162 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 70 · Top 25%
Fair Value upside −86% · Bottom 25%
Return on equity (TTM) 52% · Top 25%
Return on assets 16% · Top 25%
Net margin (TTM) 40% · Top 25%
Operating margin (TTM) 40% · Top 25%
Revenue growth 73% · Top 25%
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.10× · Higher than median

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 60.2× · Pricier than median
P/B 25.30× · Pricier than 75% of peers
P/S (TTM) 24.23× · Pricier than 75% of peers
P/FCF 8.2× · Pricier than median
EV/EBITDA 64.3× · Pricier than 75% of peers
PEG 7.21× · Pricier 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 100 · sector 33
PAST 100 · sector 24
HEALTH 95 · sector 98
DIVIDEND 21 · sector 24

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

Insider activity: 40/100

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Keysight Technologies, Inc KEYS $315.90 $84.16 -73%
Garmin Ltd GRMN $241.76 $146.67 -39%
Teledyne Technologies Incorporated TDY $635.52 $367.58 -42%
Hexagon AB HEXAB kr 80.10 kr 52.93 -34%
MKS Inc MKSI $324.69 $77.46 -76%
AVIC Chengdu Aircraft Company 302132 ¥52.91 ¥34.47 -35%
Fortive Corporation FTV $61.78 $33.84 -45%
Trimble Inc TRMB $52.72 $24.47 -54%
Cognex Corporation CGNX $64.07 $13.75 -79%
Wuhan Guide Infrared Co 002414 ¥13.15 ¥3.21 -76%

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Frequently asked questions

Is Chroma ATE Inc (2360) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 286.15 TWD versus a price of 2,030 TWD, about −86% (overvalued).
What is the fair value of 2360?
Our model-based fair value for Chroma ATE Inc is 286.15 TWD (as of Jul 15, 2026), built from audited fundamentals. The current price is 2,030 TWD.
What is the quality score of 2360?
Chroma ATE Inc has a Quality Score of 70/100. 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 Chroma ATE Inc (2360)?
Chroma ATE Inc reported trailing-twelve-month revenue of about 33.3B TWD (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 2360?
The net profit margin of Chroma ATE Inc is about 40.3%, meaning it keeps roughly 40.3% of revenue as net income. Based on the latest reported figures.
Does Chroma ATE Inc pay a dividend?
Chroma ATE Inc currently shows a dividend yield of about 0.74% relative to its recent price (as of Jul 15, 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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