Gold Circuit Electronics Ltd (2368) Fair Value & Analysis
Technology · TW · Market cap 543B TWD
Fair value as of: Jul 12, 2026
From 17 valuation models · updated 26 days ago
Share price −14.6% over the past month.
A solid business, but screening 66% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (475.22 TWD). The favourable scenario is already priced in.
- Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (232.21 TWD to 475.22 TWD) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.
How to read this chart
60‑month range 10.93 TWD – 1,484 TWD · fair‑value band 232.21 TWD – 475.22 TWD · the 982.00 TWD price screens above the 331.72 TWD fair value. Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Gold Circuit Electronics Ltd (2368) currently trades at 982.00 TWD, while our model-based Fair Value estimate is 331.72 TWD, implying the stock looks roughly 66.2% overvalued today. We read business quality at 61/100 (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, Gold Circuit Electronics Ltd generated revenue of 67.3B TWD at a net margin of 16.9%. Revenue grew 60.1% year over year. It earns a return on equity of 41.1%. The balance sheet holds a net cash position of 41.3M TWD. Fundamentals as of Jul 12, 2026
Our scenario range runs from 232.21 TWD (bear case) to 475.22 TWD (bull case); at 982.00 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 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 35% below its 52-week high and 290% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -66%, 2368 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.
All 17 models by family
Widest divergence: Growth Earnings (331.72 TWD) versus Asset-Based (44.39 TWD). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 63
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
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
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.
2368 screens 66% overvalued. Compare with Delta Electronics, Inc →
Peer Group
Electronic Components · 626 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.
Valuation Multiples vs Electronic Components median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Delta Electronics, Inc 2308 | 1,880 TWD | 515.23 TWD | -73% |
| Hon Hai Precision Industry Co 2317 | 242.50 TWD | 270.47 TWD | +12% |
| Luxshare Precision Industry Co 002475 | ¥62.14 | ¥38.44 | -38% |
| Samsung Electro-Mechanics Co 009150 | 1,260,000 KRW | 166,421 KRW | -87% |
| Elite Material Co 2383 | 4,990 TWD | 714.36 TWD | -86% |
| Yageo Corporation 2327 | 699.00 TWD | 216.55 TWD | -69% |
| Shengyi Technology Co 600183 | ¥132.29 | ¥27.45 | -79% |
| Shennan Circuits Co 002916 | ¥364.00 | ¥93.50 | -74% |
| Victory Giant Technology (HuiZhou) Co 2476 | HK$297.00 | HK$103.98 | -65% |
| Wus Printed Circuit (Kunshan) Co 002463 | ¥127.80 | ¥31.95 | -75% |
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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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