Merry Electronics Co Ltd (2439) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Merry Electronics Co Ltd TWD 98.80, price TWD 78.20, upside +26.3%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Merry Electronics Co Ltd
2439 · TWSpeculativeUpside exists, but weak quality makes the signal speculative.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 65.24 TWD – 145.00 TWD · fair‑value band 69.16 TWD – 128.44 TWD · the 78.20 TWD price screens below the 98.80 TWD fair value. Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
Merry Electronics Co., Ltd. engages in the manufacture, processing, repair, and sale of electric appliances and audiovisual electric products in the United States, Taiwan, Singapore, Europe, the Mainland China, and internationally.
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Merry Electronics Co., Ltd. engages in the manufacture, processing, repair, and sale of electric appliances and audiovisual electric products in the United States, Taiwan, Singapore, Europe, the Mainland China, and internationally. It provides telecommunication equipment and apparatus, computers and computing peripheral equipment, restrained telecom radio frequency equipment, medical appliances, and electronic parts and components. The company offers microphones, receivers, earphones, speakers and speaker monomers, and sound equipment; power amplifiers, charging boxes, power storage systems, battery pack for LEV and medical industry, and mobile power supply products; hearing aids and devices and acoustics equipment; medical devices; cables, connectors, and electronic components; security systems; induction cookers; plastic hardware products; and barometric pressure sensors. It is involved in the research, development, and sale of software for hearing aid usage; international and transit trade; trading consulting; engages in investment business; and cable processing activities. The company's products are used in mobile communication, multimedia and entertainment, and medical and healthcare applications, as well as smart homes and accessories. Merry Electronics Co., Ltd. was incorporated in 1975 and is based in Taichung, Taiwan.
Stock analysis
Merry Electronics Co Ltd (2439) currently trades at 78.20 TWD, while our model-based Fair Value estimate is 98.80 TWD, implying the stock looks roughly 20.8% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 119.81 TWD per share, and 13 of the 17 models we run sit above the 78.20 TWD price.
Bear case: the Asset-Based group reads lowest at 47.29 TWD, and 4 of the 17 models stay below the price. Evidence for this calculation is medium.
Scenario range: 69.16 TWD (bear) to 128.44 TWD (bull), the price of 78.20 TWD sits inside 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 32/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Merry Electronics Co Ltd reported revenue of 46.5B TWD in FY2025 versus 36.2B TWD in FY2021, a compound +6.5%/yr. Reported net income was 1.3B TWD in FY2025, compounding +4.3%/yr from FY2021.
Key figures
Market cap 26.5B TWD (≈ $831M) · P/E ratio 16.8 · P/S ratio 0.48 · EPS (TTM) 4.66 TWD · Dividend yield 5.1% · Net margin 2.9% · Return on equity 9.9% · Return on assets (EBIT) 4.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (medium confidence).
What moves the price
The share trades about 31% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −37% fair-value upside, at 26%, 2439 screens cheaper than that median.
Fair Value models
All 17 models by family
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Set up alert →Quality Score breakdown
Of which business quality 35 · Market factors (momentum, volatility) 39
Revenue & earnings trend
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Compare Merry Electronics Co Ltd with another stock
Price, fair value, quality and upside side by side.
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.Consumer Electronics · 127 stocks
Valuation Multiplesvs Consumer Electronics median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Taiwanese Stocks
- Valuation of the Taiwan market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Consumer Electronics stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Samsung Electronics Co 005930 | 285,500 KRW | 163,849 KRW | −43% |
| Sony Group SONY | $23.42 | $30.15 | +29% |
| Xiaomi Corporation 1810 | HK$27.20 | HK$44.47 | +63% |
| LG Electronics Inc 066570 | 209,000 KRW | 102,646 KRW | −51% |
| Huaqin Co 603296 | ¥79.93 | ¥39.69 | −50% |
| Goertek Inc 002241 | ¥24.64 | ¥14.47 | −41% |
| LG Corp 003550 | 111,900 KRW | 90,615 KRW | −19% |
| Shenzhen Transsion Holdings 688036 | ¥56.80 | ¥54.13 | −5% |
| Anker Innovations Limited 300866 | ¥123.90 | ¥78.13 | −37% |
| Dixon Technologies (India) Limited DIXON | ₹13,084 | ₹4,022 | −69% |
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Key figures of Merry Electronics Co Ltd
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