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Chicony Electronics Co (2385) Fair Value & Analysis

Technology · TW · Market cap 75.2B TWD

CE Chicony Electronics Co 2385 · TW
Price101.50 TWD
Fair Value152.64 TWD
Upside+50.4%
Quality47/100
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Weak Growth
Thin margins · 6.8% net margin
Low debt · generates free cash flow
6.82% dividend yield
Ranks above peers (12/15)
Moderate moat 48/100
Evidence: Medium Range 112.64 TWD – 190.80 TWD Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 23 days ago

Share price −5.6% over the past month.

Below-average quality, screening 50% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (112.64 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

220.05 TWD 55.97 TWD Fair Value 152.64 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 55.97 TWD – 220.05 TWD · fair‑value band 112.64 TWD – 190.80 TWD · the 101.50 TWD price screens below the 152.64 TWD fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Chicony Electronics Co (2385) currently trades at 101.50 TWD, while our model-based Fair Value estimate is 152.64 TWD, implying the stock looks roughly 50.4% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Chicony Electronics Co generated revenue of 95.3B TWD at a net margin of 6.8%. Revenue declined 1.8% year over year. It earns a return on equity of 15.5%. The balance sheet holds a net cash position of 12.3B TWD. Fundamentals as of Jul 17, 2026

Our scenario range runs from 112.64 TWD (bear case) to 190.80 TWD (bull case); at 101.50 TWD, the current price sits below 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 33% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at 50%, 2385 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 112.21 TWD 149.40 TWD 201.55 TWD 80
Residual Income 60.25 TWD 73.81 TWD 137.84 TWD 76
Rev-Margin DCF 118.21 TWD 171.45 TWD 230.67 TWD 74
All 26 models by family
DCF Models
FCF DCF 110.37 TWD 151.49 TWD 212.38 TWD 38
Owner Earnings 129.94 TWD 180.95 TWD 256.46 TWD 31
5Y Revenue Exit 118.21 TWD 171.28 TWD 238.10 TWD 39
5Y EBITDA Exit 138.09 TWD 207.64 TWD 287.37 TWD 41
5Y P/E Exit 134.57 TWD 201.20 TWD 269.60 TWD 38
10Y Revenue Exit 111.62 TWD 159.00 TWD 220.64 TWD 36
10Y EBITDA Exit 127.12 TWD 183.94 TWD 257.47 TWD 37
10Y P/E Exit 124.89 TWD 179.53 TWD 244.18 TWD 35
Earnings-Based
Graham-Dodd 61.06 TWD 168.92 TWD 221.85 TWD 54
Lynch FV 33.75 TWD 48.22 TWD 62.68 TWD 50
PEG = 1.0 33.75 TWD 48.22 TWD 62.68 TWD 46
EPV 113.35 TWD 127.43 TWD 139.74 TWD 59
Dividend Discount
Gordon GGM 91.11 TWD 189.43 TWD 300.52 TWD 70
DDM Multi-Stage 91.11 TWD 143.36 TWD 198.66 TWD 61
Multiples
P/E Multiple 134.68 TWD 179.58 TWD 224.47 TWD 63
P/S Multiple 114.48 TWD 152.64 TWD 190.80 TWD 58
P/B Multiple 114.48 TWD 152.64 TWD 190.80 TWD 55
EV/EBIT 175.66 TWD 224.57 TWD 273.48 TWD 53
EV/EBITDA 169.78 TWD 216.74 TWD 263.69 TWD 54
EV/Revenue 127.83 TWD 170.22 TWD 212.61 TWD 43
Asset-Based
NCAV (Graham) 30.23 TWD 40.50 TWD 60.45 TWD 50
Growth DCF
Growth DCF 112.21 TWD 149.40 TWD 201.55 TWD 80
Rev-Margin DCF 118.21 TWD 171.45 TWD 230.67 TWD 74
Economic Profit
Residual Income 60.25 TWD 73.81 TWD 137.84 TWD 76
ROIC Compounder 118.00 TWD 138.94 TWD 161.77 TWD 72
Growth Earnings
Growth-Adj P/E 107.57 TWD 153.67 TWD 199.77 TWD 68

Widest divergence: DCF Models (179.53 TWD) versus Asset-Based (40.50 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 95.3B TWD
Revenue growth (YoY) -1.8%
Net margin 6.8%
Return on equity 15.5%
Free cash flow 5.4B TWD FY2025
P/E ratio 11.5
More key figures
Operating margin 7.6%
EPS (TTM) 8.93 TWD
Dividend yield 6.8%
EPS growth (YoY) -8.8%
Net cash 12.3B TWD FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 49 · Market factors (momentum, volatility) 38

Profitability 49
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 15
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

Chicony Electronics Co., Ltd. engages in the manufacture and sale of electronic parts and components in Taiwan and internationally.

Full company description

Chicony Electronics Co., Ltd. engages in the manufacture and sale of electronic parts and components in Taiwan and internationally. It produces and sells computer peripherals, engages in overseas mergers, acquisition, and management; import and export of power supplies and related products; researches, develops, manufactures and sells communication products; and e-commerce software services. Chicony Electronics Co., Ltd. was incorporated in 1983 and is headquartered in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chicony Electronics Co reported revenue of 95.7B TWD in FY2025 versus 107B TWD in FY2021, a compound −2.9%/yr. Reported net income was 6.6B TWD in FY2025, compounding +1.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
95.7B TWD
Latest YoY
−5.7%
Avg. growth/yr (3Y)
−6.2%
Avg. growth/yr (5Y)
+0.1%
Avg. growth/yr (25Y)
+9.4%
Revenue −2.9%/yr
FY21 107B TWD
FY22 116B TWD
FY23 98.3B TWD
FY24 101B TWD
FY25 95.7B TWD
Net income +1.7%/yr
FY21 6.2B TWD
FY22 7.3B TWD
FY23 7.5B TWD
FY24 9.0B TWD
FY25 6.6B TWD

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Cite: Fair Value Calculator (2026). "Chicony Electronics Co Fair Value". https://www.fairvalue-calculator.com/stock/2385

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 47 · Below median
Fair Value upside +50% · Top 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth -2% · Below median
Dividend yield (TTM) 6.8% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 11.5× · Cheaper than 75% of peers
P/B 1.70× · Cheaper than median
P/S (TTM) 0.79× · Cheaper than median
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 5.5× · Cheaper than 75% of peers
PEG 5.66× · 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 100 · sector 0
FUTURE 0 · sector 57
PAST 62 · sector 26
HEALTH 100 · sector 97
DIVIDEND 100 · sector 44

Insider activity: 42/100

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Jul 17, 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 Chicony Electronics Co (2385) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 152.64 TWD versus a price of 101.50 TWD, about +50% (undervalued).
What is the fair value of 2385?
Our model-based fair value for Chicony Electronics Co is 152.64 TWD (as of Jul 17, 2026), built from audited fundamentals. The current price is 101.50 TWD.
What is the quality score of 2385?
Chicony Electronics Co has a Quality Score of 47/100. 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 Chicony Electronics Co (2385)?
Chicony Electronics Co reported trailing-twelve-month revenue of about 95.3B TWD (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 2385?
The net profit margin of Chicony Electronics Co is about 6.8%, meaning it keeps roughly 6.8% of revenue as net income. Based on the latest reported figures.
Does Chicony Electronics Co pay a dividend?
Chicony Electronics Co currently shows a dividend yield of about 4.91% relative to its recent price (as of Jul 17, 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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