Gold Circuit Electronics Ltd (2368) fair value: what the stock is really worth
We calculate from audited financials what Gold Circuit Electronics Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range 40.38 TWD – 1,484 TWD · fair‑value band 283.93 TWD – 665.30 TWD · the 1,045 TWD price screens above the 405.62 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Gold Circuit Electronics Ltd. engages in the manufacturing, processing, and trading of electronic equipment products, such as printed circuit boards in Taiwan. Its products are used for AI/ Advanced Server, networking, notebook, handset products, automotive, and IC tests products. The company was founded in 1981 and is headquartered in Taoyuan City, Taiwan.
Stock analysis
Gold Circuit Electronics Ltd (2368) currently trades at 1,045 TWD, while our model-based Fair Value estimate is 405.62 TWD, implying the stock looks roughly 157.6% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 405.62 TWD per share, and 0 of the 17 models we run sit above the 1,045 TWD price.
Bear case: the Asset-Based group reads lowest at 44.39 TWD, and 17 of the 17 models stay below the price. Evidence for this calculation is medium.
Scenario range: 283.93 TWD (bear) to 665.30 TWD (bull), the price of 1,045 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 59/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Gold Circuit Electronics Ltd reported revenue of 60.0B TWD in FY2025 versus 26.6B TWD in FY2021, a compound +22.5%/yr. Reported net income was 9.6B TWD in FY2025, compounding +34.6%/yr from FY2021.
Key figures
Market cap 516B TWD (≈ $16.2B) · P/E ratio 55.2 · P/S ratio 8.83 · EPS (TTM) 18.94 TWD · Dividend yield 1.0% · Net margin 16.0% · Return on equity 41.1% · Return on assets (EBIT) 18.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
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 31% below its 52-week high and 315% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −63% fair-value upside, at −61%, 2368 screens cheaper than that median.
Fair Value models
Bear 283.93 TWDFair Value 405.62 TWDBull 665.30 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (6.53 TWD per share) are deliberately not added.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.Evidence ⓘEvidence = 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.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+54.0%
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.
+22.3%
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.
+20.7%
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.
+8.3%
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What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+35.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+34.4%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.36% vs 52%, slowing
Profit margin 2020 to 2025 ⓘ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.13% → 23%
2025 sits 122% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Gold Circuit Electronics Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Electronic Components · 646 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside−63% · Below median
Profitability
Return on equity (TTM)41% · Top 25%
Return on assets16% · Top 25%
Net margin (TTM)17% · Top 25%
Operating margin (TTM)27% · Top 25%
Growth and dividend
Revenue growth60% · Top 25%
Dividend yield (TTM)1.0% · Below median
Balance sheet
Debt / equity0.36× · Highest 25%
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (TTM)55.2× · Pricier than median
P/B16.23× · Priciest 25%
P/S (TTM)8.08× · Priciest 25%
EV/EBITDA29.7× · Pricier than median
PEG0.67× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 41
PAST (return on equity)100· sector 26
HEALTH (low debt)82· sector 95
DIVIDEND (yield)19· sector 24
VALUE 0: the price sits above our fair-value range.
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.
Is Gold Circuit Electronics Ltd (2368) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of 405.62 TWD versus a price of 1,045 TWD, about −61% upside (overvalued).
What is the fair value of 2368?
Our model-based fair value for Gold Circuit Electronics Ltd is 405.62 TWD (as of Sep 18, 2026), built from audited fundamentals. The current price: 1,045 TWD.
What is the quality score of 2368?
Gold Circuit Electronics Ltd has a Quality Score of 59/100. 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 Gold Circuit Electronics Ltd (2368)?
Our model-based price target is the fair value of 405.62 TWD (as of Sep 18, 2026) from 17 valuation models. Cautious scenario 283.93 TWD, optimistic scenario 665.30 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Gold Circuit Electronics Ltd stock forecast for 2026?
Our models put fair value at 405.62 TWD, about −61% upside versus a price of 1,045 TWD (overvalued). Cautious scenario 283.93 TWD, optimistic scenario 665.30 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Gold Circuit Electronics Ltd (2368)?
Gold Circuit Electronics Ltd reported trailing-twelve-month revenue of about 67.3B TWD (latest available figure, as of Sep 18, 2026).
Does Gold Circuit Electronics Ltd pay a dividend?
Gold Circuit Electronics Ltd currently shows a dividend yield of about 0.96% relative to its recent price (as of Sep 18, 2026).
What is the intrinsic value of Gold Circuit Electronics Ltd (2368)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gold Circuit Electronics Ltd it is 405.62 TWD per share (as of Sep 18, 2026), against a price of 1,045 TWD. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Gold Circuit Electronics Ltd stock overvalued or undervalued in 2026?
As of Sep 18, 2026, 2368 trades above its calculated fair value: price 1,045 TWD, fair value 405.62 TWD, a gap of about −61% (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 2368?
No. The price is what the market pays today (1,045 TWD); the fair value is what the company's own numbers justify (405.62 TWD). For Gold Circuit Electronics Ltd the two are 639.38 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Gold Circuit Electronics Ltd worth?
The market values Gold Circuit Electronics Ltd at about 516B TWD (market capitalisation, as of Sep 18, 2026). Per share that is 1,045 TWD; our models calculate a fair value of 405.62 TWD per share.
What do the bullish and bearish scenarios say about 2368?
Our models span a range for Gold Circuit Electronics Ltd: cautious scenario 283.93 TWD, base 405.62 TWD, optimistic 665.30 TWD per share (as of Sep 18, 2026, price 1,045 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2368?
Gold Circuit Electronics Ltd trades at a price-to-earnings ratio of 55.2 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 405.62 TWD is built from several models across several years. Other multiples: PEG 0.7, P/B 16.2, P/S 8.1, EV/EBITDA 29.7.
What is the PEG ratio of 2368?
The PEG ratio of Gold Circuit Electronics Ltd is 0.67 (P/E divided by earnings growth, as of Sep 18, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Gold Circuit Electronics Ltd (2368)?
Balance-sheet figures for Gold Circuit Electronics Ltd (as of Sep 18, 2026): return on equity 41.1%, debt of 0.36 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 2368 from its 52-week high?
Gold Circuit Electronics Ltd trades at 1,045 TWD, about 31% below its 52-week high of 1,520 TWD and 315% above the low of 251.77 TWD (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of 405.62 TWD is for.
Which stocks are comparable to Gold Circuit Electronics Ltd?
From the same area (Technology) we also value Amphenol Corporation, Corning Incorporated, Delta Electronics, Inc, Luxshare Precision Industry Co, 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 Gold Circuit Electronics Ltd stock attractive at the current price?
The data as of Sep 18, 2026: price 1,045 TWD, calculated fair value 405.62 TWD (−61%), Quality Score 59/100, from 17 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 2368 calculated?
We run Gold Circuit Electronics Ltd through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 405.62 TWD, 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 16.1 % above its aggregate fair value. Gold Circuit Electronics Ltd 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 Gold Circuit Electronics Ltd (2368)?
The closing price on Sep 21, 2026 was 1,045 TWD. Our model-based fair value is 405.62 TWD, about −61% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gold Circuit Electronics Ltd right now?
The price sits above even our optimistic bull case (665.30 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (283.93 TWD to 665.30 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Gold Circuit Electronics Ltd (2368) come from?
Earnings per share at Gold Circuit Electronics Ltd grew +40.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.2 %, EBIT margin +20.5 %, tax rate −0.5 %, residual (interest, one-offs) +7.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Gold Circuit Electronics Ltd
How large is the market capitalisation of Gold Circuit Electronics Ltd (2368)?
The market capitalisation of Gold Circuit Electronics Ltd is 516B TWD (≈ $16.2B). 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 Gold Circuit Electronics Ltd (2368)?
The price-to-sales ratio of Gold Circuit Electronics Ltd is 8.83 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Gold Circuit Electronics Ltd (2368)?
Earnings per share at Gold Circuit Electronics Ltd are 18.94 TWD (price ÷ EPS = P/E 55.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Gold Circuit Electronics Ltd (2368)?
The dividend yield of Gold Circuit Electronics Ltd is 1.0% (payout 52.8%). 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 Gold Circuit Electronics Ltd (2368)?
The net margin of Gold Circuit Electronics Ltd is 16.0% (fiscal year 2025). 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 Gold Circuit Electronics Ltd (2368)?
The return on equity (ROE) of Gold Circuit Electronics Ltd is 41.1% (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 Gold Circuit Electronics Ltd (2368)?
On an EBIT basis the return on assets of Gold Circuit Electronics Ltd is 18.0% (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 Gold Circuit Electronics Ltd (2368)?
The operating margin of Gold Circuit Electronics Ltd is 26.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gold Circuit Electronics Ltd (2368)?
Revenue at Gold Circuit Electronics Ltd is growing +60.1% versus a year earlier (3y avg +22.3%). 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 Gold Circuit Electronics Ltd (2368)?
Earnings per share at Gold Circuit Electronics Ltd are growing +90.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Gold Circuit Electronics Ltd (2368) generate?
The free cash flow of Gold Circuit Electronics Ltd is −4.5B 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 Gold Circuit Electronics Ltd (2368) hold?
Gold Circuit Electronics Ltd holds more cash than debt, 41.3M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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