Elite Material Co Ltd (2383) fair value: what the stock is really worth
We calculate from audited financials what Elite Material Co 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.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Stretched ValuationStrong overvaluation with only moderate quality.
!Fair value 830.20 TWD · Strongly overvalued (−83%)
!Quality 60/100
!Expensive Growth(revenue 5y +28.2 %/yr)
✓Solidly profitable · 15.6% net margin (TTM)
✓Low debt · generates free cash flow
·0.51% dividend yield
!Mixed vs. peers(7/15)
✓Wide moat75/100
!Evidence only low, so the estimate is less certain
!The models disagree: range 380.44 TWD to 1,400 TWD
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69 individual criteria per stock, every one traceableSee the method →
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 130.00 TWD – 6,350 TWD · fair‑value band 380.44 TWD – 1,400 TWD · the 4,895 TWD price screens above the 830.20 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 18, 2026.
Elite Material Co., Ltd. engages in the manufacturing and sales of copper clad laminates, electronic-industrial specialty chemical and raw materials, and electronic components in Taiwan, China, and internationally. The company also offers printed circuit boards, prepreg, and adhesive sheets.
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Elite Material Co., Ltd. engages in the manufacturing and sales of copper clad laminates, electronic-industrial specialty chemical and raw materials, and electronic components in Taiwan, China, and internationally. The company also offers printed circuit boards, prepreg, and adhesive sheets. Its products are used in various industries, including mobile devices, infrastructure, automotives, aerospace, military, industrial, and autonomous driving applications. The company was incorporated in 1992 and is headquartered in Taoyuan City, Taiwan.
Stock analysis
Elite Material Co Ltd (2383) currently trades at 4,895 TWD, while our model-based Fair Value estimate is 830.20 TWD, implying the stock looks roughly 489.6% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 1,077 TWD per share, and 0 of the 26 models we run sit above the 4,895 TWD price.
Bear case: the Asset-Based group reads lowest at 94.34 TWD, and 26 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 380.44 TWD (bear) to 1,400 TWD (bull), the price of 4,895 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 60/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Elite Material Co Ltd reported revenue of 94.3B TWD in FY2025 versus 38.5B TWD in FY2021, a compound +25.1%/yr. Reported net income was 14.6B TWD in FY2025, compounding +27.8%/yr from FY2021.
Key figures
Market cap 1.7T TWD (≈ $54.2B) · P/E ratio 107.8 · P/S ratio 16.7 · EPS (TTM) 45.41 TWD · Dividend yield 0.5% · Net margin 15.5% · Return on equity 40.7% · Return on assets (EBIT) 16.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 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 13% below its 52-week high, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −63% fair-value upside, at −83%, 2383 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (94.34 TWD to 1,545 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 380.44 TWDFair Value 830.20 TWDBull 1,400 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 (15.19 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
+46.4%
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.
+34.6%
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.
+28.2%
Revenue growth 23 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.
+18.5%
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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.
+26.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+26.1%
Dividend (yield on the price)0.5%
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.30% vs 19%, picking up
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.18% → 20%
2025 sits 164% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+53.9%
Yearly sales growth analysts expect, extended to five years.
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 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−85% · Bottom 25%
Profitability
Return on equity (TTM)41% · Top 25%
Return on assets12% · Top 25%
Net margin (TTM)16% · Top 25%
Operating margin (TTM)22% · Top 25%
Growth and dividend
Revenue growth53% · Top 25%
Dividend yield (TTM)0.5% · Bottom 25%
Balance sheet
Debt / equity0.16× · Above median
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (TTM)107.8× · Priciest 25%
P/B35.44× · Priciest 25%
P/S (TTM)16.92× · Priciest 25%
P/FCF26.3× · Priciest 25%
EV/EBITDA75.4× · Priciest 25%
PEG0.23× · Cheapest 25%
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)92· sector 95
DIVIDEND (yield)10· 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.
Cite: Fair Value Calculator (2026). "Elite Material Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2383
Frequently asked questions
Is Elite Material Co Ltd (2383) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of 830.20 TWD versus a price of 4,895 TWD, about −83% upside (overvalued).
What is the fair value of 2383?
Our model-based fair value for Elite Material Co Ltd is 830.20 TWD (as of Sep 18, 2026), built from audited fundamentals. The current price: 4,895 TWD.
What is the quality score of 2383?
Elite Material Co Ltd has a Quality Score of 60/100. 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 Elite Material Co Ltd (2383)?
Our model-based price target is the fair value of 830.20 TWD (as of Sep 18, 2026) from 26 valuation models. Cautious scenario 380.44 TWD, optimistic scenario 1,400 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Elite Material Co Ltd stock forecast for 2026?
Our models put fair value at 830.20 TWD, about −83% upside versus a price of 4,895 TWD (overvalued). Cautious scenario 380.44 TWD, optimistic scenario 1,400 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Elite Material Co Ltd (2383)?
Elite Material Co Ltd reported trailing-twelve-month revenue of about 106B TWD (latest available figure, as of Sep 18, 2026).
Does Elite Material Co Ltd pay a dividend?
Elite Material Co Ltd currently shows a dividend yield of about 0.51% relative to its recent price (as of Sep 18, 2026).
What growth is priced into Elite Material Co Ltd (2383)?
For today's price to be fair in a discounted-cash-flow model, Elite Material Co Ltd would have to grow free cash flow by more than 80 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +28.2 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of 2383 use?
Our models discount Elite Material Co Ltd at 11.1 %: a base by market capitalisation (large), damped by beta 1.54, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Elite Material Co Ltd that is more than 80 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Elite Material Co Ltd (2383) delivered so far?
Over the past 5 years revenue at Elite Material Co Ltd grew +28.2 % a year. The price currently implies more than 80 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Elite Material Co Ltd (2383) growing?
The median revenue growth in the sector is +8.0 % a year. That is the yardstick for the growth priced into Elite Material Co Ltd (more than 80 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Elite Material Co Ltd (2383)?
The free-cash-flow yield on the price is 0.13 %: that much free cash flow Elite Material Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Elite Material Co Ltd (2383)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Elite Material Co Ltd it is 830.20 TWD per share (as of Sep 18, 2026), against a price of 4,895 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Elite Material Co Ltd stock overvalued or undervalued in 2026?
As of Sep 18, 2026, 2383 trades above its calculated fair value: price 4,895 TWD, fair value 830.20 TWD, a gap of about −83% (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 2383?
No. The price is what the market pays today (4,895 TWD); the fair value is what the company's own numbers justify (830.20 TWD). For Elite Material Co Ltd the two are 4,065 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Elite Material Co Ltd worth?
The market values Elite Material Co Ltd at about 1.7T TWD (market capitalisation, as of Sep 18, 2026). Per share that is 4,895 TWD; our models calculate a fair value of 830.20 TWD per share.
What do the bullish and bearish scenarios say about 2383?
Our models span a range for Elite Material Co Ltd: cautious scenario 380.44 TWD, base 830.20 TWD, optimistic 1,400 TWD per share (as of Sep 18, 2026, price 4,895 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2383?
Elite Material Co Ltd trades at a price-to-earnings ratio of 107.8 (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 830.20 TWD is built from several models across several years. Other multiples: PEG 0.2, P/B 35.4, P/S 16.9, EV/EBITDA 75.4.
What is the PEG ratio of 2383?
The PEG ratio of Elite Material Co Ltd is 0.23 (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 Elite Material Co Ltd (2383)?
Balance-sheet figures for Elite Material Co Ltd (as of Sep 18, 2026): return on equity 40.7%, debt of 0.16 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 2383 from its 52-week high?
Elite Material Co Ltd trades at 4,895 TWD, about 13% below its 52-week high of 5,635 TWD and 542% above the low of 763.00 TWD (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of 830.20 TWD is for.
Which stocks are comparable to Elite Material Co 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 Elite Material Co Ltd stock attractive at the current price?
The data as of Sep 18, 2026: price 4,895 TWD, calculated fair value 830.20 TWD (−83%), Quality Score 60/100, from 26 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 2383 calculated?
We run Elite Material Co Ltd through 26 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 830.20 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. Elite Material Co 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 Elite Material Co Ltd (2383)?
The closing price on Sep 21, 2026 was 4,895 TWD. Our model-based fair value is 830.20 TWD, about −83% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Elite Material Co Ltd right now?
The price sits above even our optimistic bull case (1,400 TWD). The favourable scenario is already priced in. The model range is unusually wide (380.44 TWD to 1,400 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Elite Material Co Ltd (2383) come from?
Earnings per share at Elite Material Co Ltd grew +16.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.7 %, EBIT margin +3.2 %, tax rate +0.5 %, residual (interest, one-offs) −0.1 %. 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 Elite Material Co Ltd
How large is the market capitalisation of Elite Material Co Ltd (2383)?
The market capitalisation of Elite Material Co Ltd is 1.7T TWD (≈ $54.2B). 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 Elite Material Co Ltd (2383)?
The price-to-sales ratio of Elite Material Co Ltd is 16.7 (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 Elite Material Co Ltd (2383)?
Earnings per share at Elite Material Co Ltd are 45.41 TWD (price ÷ EPS = P/E 107.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Elite Material Co Ltd (2383)?
The dividend yield of Elite Material Co Ltd is 0.5% (payout 55.1%). 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 Elite Material Co Ltd (2383)?
The net margin of Elite Material Co Ltd is 15.5% (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 Elite Material Co Ltd (2383)?
The return on equity (ROE) of Elite Material Co Ltd is 40.7% (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 Elite Material Co Ltd (2383)?
On an EBIT basis the return on assets of Elite Material Co Ltd is 16.3% (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 Elite Material Co Ltd (2383)?
The operating margin of Elite Material Co Ltd is 21.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Elite Material Co Ltd (2383)?
Revenue at Elite Material Co Ltd is growing +52.5% versus a year earlier (3y avg +34.6%). 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 Elite Material Co Ltd (2383)?
Earnings per share at Elite Material Co Ltd are growing +53.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Elite Material Co Ltd (2383) carry?
The net debt of Elite Material Co Ltd is 103M TWD (fiscal year 2025, ≈ 0.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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