Mercuries Data Systems Ltd (2427) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Mercuries Data Systems Ltd TWD 40.12, price TWD 23.40, upside +71.5%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 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 24, 2026.
How to read this chart
60‑month range 9.72 TWD – 35.35 TWD · fair‑value band 29.34 TWD – 50.90 TWD · the 23.40 TWD price screens below the 40.12 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 24, 2026.
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Mercuries Data Systems Ltd., together with its subsidiaries, engages in the sales, leasing, and maintenance of financial automation service machines in Taiwan.
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Mercuries Data Systems Ltd., together with its subsidiaries, engages in the sales, leasing, and maintenance of financial automation service machines in Taiwan. The company offers financial software systems, such as whitelist management, deposit machine management, device management, E-APT batching machine centralized management, multimedia reception service, teller safe management, and BTS financial branch terminal systems, as well as ATM operation integration platform; and financial automation products, including foreign exchange banknote exchange machine, professional payment kiosk, deposit machine, recycling cash dispenser, and automatic passbook printer. It also provides train dispatching radio systems; RF system for government; information technology services comprising medical information services, government procurement section, solutions for insurance industry, enterprise performance management solution, search and rescue dispatch system, 911 dispatch systems and emergency intelligent platform, SKMS stock management system, navy METOC HPC system, intelligent pre-registration and check-in management system for exhibitions, power company user electricity service big data platform, and power company's new distribution engineering information system; and automated ticket management and MRT automatic fare collection system. In addition, the company is involved in the provision of attendance, sales, maintenance, merchandising, and inspection management systems; planning, development, construction, and maintenance of software and hardware accommodating for the integrated system; management consultant and computer equipment installation; information software processing services; investment activity; computer and information software development, production, and sales; and self-produced product business and related technical consulting services. Mercuries Data Systems Ltd. was incorporated in 1965 and is headquartered in Taipei, Taiwan.
Stock analysis
Mercuries Data Systems Ltd (2427) currently trades at 23.40 TWD, while our model-based Fair Value estimate is 40.12 TWD, implying the stock looks roughly 41.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 61.27 TWD per share, and 16 of the 26 models we run sit above the 23.40 TWD price.
Bear case: the Dividend Discount group reads lowest at 7.31 TWD, and 10 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 29.34 TWD (bear) to 50.90 TWD (bull), the price of 23.40 TWD sits below 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 66/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Mercuries Data Systems Ltd reported revenue of 6.5B TWD in FY2025 versus 3.5B TWD in FY2021, a compound +16.9%/yr. Reported net income was 303M TWD in FY2025, compounding +19.3%/yr from FY2021.
Key figures
Market cap 4.6B TWD (≈ $145M) · P/E ratio 16.3 · P/S ratio 0.75 · EPS (TTM) 1.44 TWD · Dividend yield 3.0% · Net margin 4.6% · Return on equity 7.7% · Return on assets (EBIT) 4.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at 71%, 2427 screens cheaper than that median.
Fair Value models
Bear 29.34 TWDFair Value 40.12 TWDBull 50.90 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 (0.5433 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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+33.9%
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.
+19.9%
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.
+16.7%
Start year 2020 (pandemic). Over 10 years: +11.2% a year
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.
+2.1%
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What shareholders gained per year (last 5 years), in TWD ⓘ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. 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.
+22.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.7%
Dividend (yield on the price)3.0%
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.20% vs 24%, 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.5% → 5%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−20.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −21.9% a year for the price.
Compare Mercuries Data Systems Ltd with another stock
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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.Business Equipment & Supplies · 75 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+72% · Top 25%
Profitability
Return on equity (TTM)8% · Above median
Return on assets3% · Above median
Net margin (TTM)3% · Above median
Operating margin (TTM)4% · Below median
Growth and dividend
Revenue growth71% · Top 25%
Dividend yield (TTM)3.0% · Above median
Balance sheet
Debt / equity0.36× · Highest 25%
Valuation Multiplesvs Business Equipment & Supplies median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Mercuries Data Systems Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2427
Frequently asked questions
Is Mercuries Data Systems Ltd (2427) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 40.12 TWD versus a price of 23.40 TWD, about +71% upside (undervalued).
What is the fair value of 2427?
Our model-based fair value for Mercuries Data Systems Ltd is 40.12 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 23.40 TWD.
What is the quality score of 2427?
Mercuries Data Systems Ltd has a Quality Score of 66/100. 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 Mercuries Data Systems Ltd (2427)?
Our model-based price target is the fair value of 40.12 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 29.34 TWD, optimistic scenario 50.90 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Mercuries Data Systems Ltd stock forecast for 2026?
Our models put fair value at 40.12 TWD, about +71% upside versus a price of 23.40 TWD (undervalued). Cautious scenario 29.34 TWD, optimistic scenario 50.90 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Mercuries Data Systems Ltd (2427)?
Mercuries Data Systems Ltd reported trailing-twelve-month revenue of about 7.3B TWD (latest available figure, as of Sep 24, 2026).
Does Mercuries Data Systems Ltd pay a dividend?
Mercuries Data Systems Ltd currently shows a dividend yield of about 2.99% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Mercuries Data Systems Ltd (2427)?
For today's price to be fair in a discounted-cash-flow model, Mercuries Data Systems Ltd would have to grow free cash flow by -20.7 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2427 use?
Our models discount Mercuries Data Systems Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.09, 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 Mercuries Data Systems Ltd that is -20.7 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Mercuries Data Systems Ltd (2427) delivered so far?
Over the past 5 years revenue at Mercuries Data Systems Ltd grew +16.7 % a year. The price currently implies -20.7 % 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 Mercuries Data Systems Ltd (2427) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Mercuries Data Systems Ltd (-20.7 % 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 Mercuries Data Systems Ltd (2427)?
The free-cash-flow yield on the price is 34.62 %: that much free cash flow Mercuries Data Systems Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mercuries Data Systems Ltd (2427)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mercuries Data Systems Ltd it is 40.12 TWD per share (as of Sep 24, 2026), against a price of 23.40 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Mercuries Data Systems Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2427 trades below its calculated fair value: price 23.40 TWD, fair value 40.12 TWD, a gap of about +71% (undervalued). 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 2427?
No. The price is what the market pays today (23.40 TWD); the fair value is what the company's own numbers justify (40.12 TWD). For Mercuries Data Systems Ltd the two are 16.72 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Mercuries Data Systems Ltd worth?
The market values Mercuries Data Systems Ltd at about 4.6B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 23.40 TWD; our models calculate a fair value of 40.12 TWD per share.
What do the bullish and bearish scenarios say about 2427?
Our models span a range for Mercuries Data Systems Ltd: cautious scenario 29.34 TWD, base 40.12 TWD, optimistic 50.90 TWD per share (as of Sep 24, 2026, price 23.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2427?
Mercuries Data Systems Ltd trades at a price-to-earnings ratio of 16.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 40.12 TWD is built from several models across several years. Other multiples: P/B 1.4, P/S 0.6, EV/EBITDA 13.4.
How solid is the balance sheet of Mercuries Data Systems Ltd (2427)?
Balance-sheet figures for Mercuries Data Systems Ltd (as of Sep 24, 2026): return on equity 7.7%, debt of 0.36 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 2427 from its 52-week high?
Mercuries Data Systems Ltd trades at 23.40 TWD, about 20% below its 52-week high of 29.20 TWD and 16% above the low of 20.25 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 40.12 TWD is for.
Which stocks are comparable to Mercuries Data Systems Ltd?
From the same area (Industrials) we also value GRG Banking Equipment Co, Shanghai M&G Stationery Inc, XGD Inc, DOMS Industries Limited, 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 Mercuries Data Systems Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 23.40 TWD, calculated fair value 40.12 TWD (+71%), Quality Score 66/100, 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 2427 calculated?
We run Mercuries Data Systems 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 40.12 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 13.0 % above its aggregate fair value. Mercuries Data Systems Ltd currently trades 71 % below its own fair value, and the market average says nothing about that. 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 Mercuries Data Systems Ltd (2427)?
The closing price on Sep 24, 2026 was 23.40 TWD. Our model-based fair value is 40.12 TWD, about +71% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mercuries Data Systems Ltd right now?
The price is below even our cautious bear case (29.34 TWD). The market is more pessimistic than our downside scenario. 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 quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Mercuries Data Systems Ltd (2427) come from?
Earnings per share at Mercuries Data Systems Ltd grew +24.0 % a year from 2015 to 2025. Broken into its drivers: revenue per share +7.9 %, EBIT margin +22.9 %, tax rate −1.4 %, residual (interest, one-offs) −5.1 %. 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 Mercuries Data Systems Ltd
How large is the market capitalisation of Mercuries Data Systems Ltd (2427)?
The market capitalisation of Mercuries Data Systems Ltd is 4.6B TWD (≈ $145M). 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 Mercuries Data Systems Ltd (2427)?
The price-to-sales ratio of Mercuries Data Systems Ltd is 0.75 (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 Mercuries Data Systems Ltd (2427)?
Earnings per share at Mercuries Data Systems Ltd are 1.44 TWD (price ÷ EPS = P/E 16.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mercuries Data Systems Ltd (2427)?
The dividend yield of Mercuries Data Systems Ltd is 3.0% (payout 48.6%). 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 Mercuries Data Systems Ltd (2427)?
The net margin of Mercuries Data Systems Ltd is 4.6% (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 Mercuries Data Systems Ltd (2427)?
The return on equity (ROE) of Mercuries Data Systems Ltd is 7.7% (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 Mercuries Data Systems Ltd (2427)?
On an EBIT basis the return on assets of Mercuries Data Systems Ltd is 4.5% (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 Mercuries Data Systems Ltd (2427)?
The operating margin of Mercuries Data Systems Ltd is 3.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mercuries Data Systems Ltd (2427)?
Revenue at Mercuries Data Systems Ltd is growing +70.5% versus a year earlier (3y avg +19.9%). 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 Mercuries Data Systems Ltd (2427)?
Earnings per share at Mercuries Data Systems Ltd are growing −45.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mercuries Data Systems Ltd (2427) carry?
The net debt of Mercuries Data Systems Ltd is 594M TWD (fiscal year 2025, ≈ 0.4 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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