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Sunplus Technology Company (2401) Fair Value & Analysis

Technology · TW · Market cap 17.6B TWD

ST Sunplus Technology Company 2401 · TW
Price27.05 TWD
Fair Value30.66 TWD
Upside+13.4%
Quality55/100
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Weak Growth
Loss-making · -2.9% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/12)
Narrow moat 28/100
Evidence: Medium Range 25.82 TWD – 35.50 TWD Share as image

Fair value as of: Jul 23, 2026

From 11 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 15.33 TWD to 30.66 TWD (+100.0%) since Jul 7, 2026. Share price −15.5% over the past month.

A solid business, screening 13% undervalued on our models.

What matters now

  • Our model range runs from 25.82 TWD (bear) to 35.50 TWD (bull), base 30.66 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 55/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

41.86 TWD 17.90 TWD Fair Value 30.66 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 17.90 TWD – 41.86 TWD · fair‑value band 25.82 TWD – 35.50 TWD · the 27.05 TWD price screens below the 30.66 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Sunplus Technology Company (2401) currently trades at 27.05 TWD, while our model-based Fair Value estimate is 30.66 TWD, implying the stock looks roughly 13.4% undervalued today. The Quality Score stands at 55/100 (solid 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, Sunplus Technology Company generated revenue of 6.5B TWD at a net margin of -2.9%. Revenue grew 12.8% year over year. It earns a return on equity of 1.1%. The balance sheet holds a net cash position of 3.3B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 25.82 TWD (bear case) to 35.50 TWD (bull case); at 27.05 TWD, the current price sits within 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 18% below its 52-week high and 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at 13%, 2401 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 11.69 TWD 13.57 TWD 16.79 TWD 80
Rev-Margin DCF 11.03 TWD 13.18 TWD 15.82 TWD 74
EV/EBITDA 13.78 TWD 16.20 TWD 18.62 TWD 54
All 11 models by family
DCF Models
FCF DCF 11.46 TWD 13.40 TWD 16.98 TWD 38
Owner Earnings 8.60 TWD 9.42 TWD 10.93 TWD 31
5Y Revenue Exit 11.03 TWD 13.07 TWD 16.02 TWD 39
5Y EBITDA Exit 12.24 TWD 15.16 TWD 19.04 TWD 41
10Y Revenue Exit 11.04 TWD 12.57 TWD 14.21 TWD 36
10Y EBITDA Exit 11.90 TWD 13.87 TWD 15.98 TWD 37
Multiples
EV/EBITDA 13.78 TWD 16.20 TWD 18.62 TWD 54
EV/Revenue 11.15 TWD 13.13 TWD 15.11 TWD 43
Asset-Based
NCAV (Graham) 6.98 TWD 9.35 TWD 13.95 TWD 50
Growth DCF
Growth DCF 11.69 TWD 13.57 TWD 16.79 TWD 80
Rev-Margin DCF 11.03 TWD 13.18 TWD 15.82 TWD 74

Widest divergence: Growth DCF (13.18 TWD) versus Asset-Based (9.35 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 6.5B TWD
Revenue growth (YoY) +12.8%
Net margin -2.9%
Return on equity 1.1%
Free cash flow 299M TWD FY2025
Operating margin 7.8%
More key figures
EPS (TTM) -0.3700 TWD
EPS growth (YoY) -94.1%
Net cash 3.3B TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 55 · Market factors (momentum, volatility) 63

Profitability 16
Margins and returns on capital today
Quality Growth 15
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 82
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

Sunplus Technology Company Limited focuses on the design and system integration of audio-visual platform chips primarily in Taiwan and Asia.

Full company description

Sunplus Technology Company Limited focuses on the design and system integration of audio-visual platform chips primarily in Taiwan and Asia. The company provides digital audio-visual and intelligent acoustic chips for multimedia and automotive applications; IC solutions for multimedia and automotive applications, such as DVD player, portable DVD player, home entertainment audio products, and car infotainment and advanced driving assistance systems; automotive ICs; intelligent acoustic solutions; system-in-package architecture; IP solutions; and media player ICs. Its products are used in consumer, portable, and connected device applications. Sunplus Technology Company Limited was founded in 1990 and is headquartered in Hsinchu City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sunplus Technology Company reported revenue of 6.3B TWD in FY2025 versus 8.0B TWD in FY2021, a compound −5.7%/yr. Reported net income was −215M TWD in FY2025.

Growth Quality 22/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
6.3B TWD
Latest YoY
−2.0%
Avg. growth/yr (3Y)
−2.0%
Avg. growth/yr (5Y)
−0.3%
Avg. growth/yr (25Y)
+0.0%
Revenue −5.7%/yr
FY21 8.0B TWD
FY22 6.7B TWD
FY23 5.5B TWD
FY24 6.4B TWD
FY25 6.3B TWD
Net income
FY21 1.8B TWD
FY22 670M TWD
FY23 −493M TWD
FY24 259M TWD
FY25 −215M TWD

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Cite: Fair Value Calculator (2026). "Sunplus Technology Company Fair Value". https://www.fairvalue-calculator.com/stock/2401

Peer Group

Semiconductors · 319 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 55 · Below median
Fair Value upside +13% · Top 25%
Return on equity (TTM) 1% · Below median
Return on assets 0% · Below median
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) 8% · Above median
Revenue growth 13% · Above median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.08× · Cheaper than 75% of peers
P/FCF 1.8× · Cheaper than median
PEG 2.47× · 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 51 · sector 0
FUTURE 64 · sector 60
PAST 4 · sector 24
HEALTH 94 · sector 97
DIVIDEND 0 · sector 22

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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc 1MU €784.90 €185.67 -76%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is Sunplus Technology Company (2401) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 30.66 TWD versus a price of 27.05 TWD, about +13% (undervalued).
What is the fair value of 2401?
Our model-based fair value for Sunplus Technology Company is 30.66 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 27.05 TWD.
What is the quality score of 2401?
Sunplus Technology Company has a Quality Score of 55/100. 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 Sunplus Technology Company (2401)?
Sunplus Technology Company reported trailing-twelve-month revenue of about 6.5B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 2401?
The net profit margin of Sunplus Technology Company is about -2.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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