Greatek Electronics Inc (2441) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Greatek Electronics Inc TWD 103, price TWD 124, upside -16.7%, quality 67 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 44.75 TWD – 145.00 TWD · fair‑value band 65.74 TWD – 135.82 TWD · the 124.00 TWD price screens above the 103.35 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Greatek Electronics Inc., together with its subsidiaries, provides semiconductor assembly and testing services in Taiwan, Asia, America, Europe, and Africa.
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Greatek Electronics Inc., together with its subsidiaries, provides semiconductor assembly and testing services in Taiwan, Asia, America, Europe, and Africa. It offers wafer and final testing services, including testing program development, platform conversion, devices correlation, engineering, test peripheral equipment, and spare parts development service for logic, mix mode, and analog devices; IC semiconductor package assembly services; and package design services for electrical and thermal characterization. The company also provides leadframe based packages, including bumping, wafer probe, and DPS; ball-grid arrays; flip chip scale packages; quad flat no-leads packages; flip-chip quad flat no lead packages; P-DIP; transistor outline, small outline transistor, and thin small outline transistor; small-outline package; small outline j-leaded; quad flat package, low profile LQFP, and thin TQFP. In addition, it offers probe card and load board design service; and metal plating on semiconductor lead frames. The company was formerly known as He Teh Integrated Circuit Co. Ltd. in October 1995. Greatek Electronics Inc. was founded in 1972 and is headquartered in Miaoli, Taiwan.
Stock analysis
Greatek Electronics Inc (2441) currently trades at 124.00 TWD, while our model-based Fair Value estimate is 103.35 TWD, implying the stock looks roughly 20.0% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 104.48 TWD per share, and 5 of the 26 models we run sit above the 124.00 TWD price.
Bear case: the Asset-Based group reads lowest at 28.45 TWD, and 21 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 65.74 TWD (bear) to 135.82 TWD (bull), the price of 124.00 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 67/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Greatek Electronics Inc reported revenue of 16.8B TWD in FY2025 versus 19.5B TWD in FY2021, a compound −3.7%/yr. Reported net income was 2.4B TWD in FY2025, compounding −14.6%/yr from FY2021.
Key figures
Market cap 70.4B TWD (≈ $2.2B) · P/E ratio 29.0 · P/S ratio 4.23 · EPS (TTM) 4.28 TWD · Dividend yield 2.4% · Net margin 14.6% · Return on equity 11.0% · Return on assets (EBIT) 13.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 100% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at −17%, 2441 screens cheaper than that median.
Fair Value models
Bear 65.74 TWDFair Value 103.35 TWDBull 135.82 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 (0.9217 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.68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.2%
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.
+1.7%
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.
+2.7%
Start year 2020 (pandemic). Over 10 years: +5.8% 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.
+5.9%
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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.
+1.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.4%
Dividend (yield on the price)2.4%
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.−1% vs 1%, steady
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.23% → 16%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+17.2%
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 +15.4% a year for the price.
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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.Semiconductor Equipment & Materials · 216 stocks
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Is Greatek Electronics Inc (2441) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 103.35 TWD versus a price of 124.00 TWD, about −17% upside (overvalued).
What is the fair value of 2441?
Our model-based fair value for Greatek Electronics Inc is 103.35 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 124.00 TWD.
What is the quality score of 2441?
Greatek Electronics Inc has a Quality Score of 67/100. 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 Greatek Electronics Inc (2441)?
Our model-based price target is the fair value of 103.35 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 65.74 TWD, optimistic scenario 135.82 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Greatek Electronics Inc stock forecast for 2026?
Our models put fair value at 103.35 TWD, about −17% upside versus a price of 124.00 TWD (overvalued). Cautious scenario 65.74 TWD, optimistic scenario 135.82 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Greatek Electronics Inc (2441)?
Greatek Electronics Inc reported trailing-twelve-month revenue of about 17.6B TWD (latest available figure, as of Sep 24, 2026).
Does Greatek Electronics Inc pay a dividend?
Greatek Electronics Inc currently shows a dividend yield of about 2.42% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Greatek Electronics Inc (2441)?
For today's price to be fair in a discounted-cash-flow model, Greatek Electronics Inc would have to grow free cash flow by +17.2 % per year for five years (discount rate 9.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2441 use?
Our models discount Greatek Electronics Inc at 9.4 %: a base by market capitalisation (large), damped by beta 0.84, 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 Greatek Electronics Inc that is +17.2 % per year a year over ten years, using the same discount rate (9.4 %) and the same formula as our fair value.
How much growth has Greatek Electronics Inc (2441) delivered so far?
Over the past 5 years revenue at Greatek Electronics Inc grew +2.7 % a year. The price currently implies +17.2 % 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 Greatek Electronics Inc (2441) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Greatek Electronics Inc (+17.2 % 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 Greatek Electronics Inc (2441)?
The free-cash-flow yield on the price is 2.90 %: that much free cash flow Greatek Electronics Inc produces per unit of market value. When it exceeds the discount rate of our models (9.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Greatek Electronics Inc (2441)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Greatek Electronics Inc it is 103.35 TWD per share (as of Sep 24, 2026), against a price of 124.00 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Greatek Electronics Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2441 trades above its calculated fair value: price 124.00 TWD, fair value 103.35 TWD, a gap of about −17% (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 2441?
No. The price is what the market pays today (124.00 TWD); the fair value is what the company's own numbers justify (103.35 TWD). For Greatek Electronics Inc the two are 20.65 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Greatek Electronics Inc worth?
The market values Greatek Electronics Inc at about 70.4B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 124.00 TWD; our models calculate a fair value of 103.35 TWD per share.
What do the bullish and bearish scenarios say about 2441?
Our models span a range for Greatek Electronics Inc: cautious scenario 65.74 TWD, base 103.35 TWD, optimistic 135.82 TWD per share (as of Sep 24, 2026, price 124.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2441?
Greatek Electronics Inc trades at a price-to-earnings ratio of 29.0 (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 103.35 TWD is built from several models across several years. Other multiples: PEG 1.2, P/B 2.9, P/S 4.0, EV/EBITDA 10.9.
What is the PEG ratio of 2441?
The PEG ratio of Greatek Electronics Inc is 1.23 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Greatek Electronics Inc (2441)?
Balance-sheet figures for Greatek Electronics Inc (as of Sep 24, 2026): return on equity 11.0%, debt of 0.00 per unit of equity. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is 2441 from its 52-week high?
Greatek Electronics Inc trades at 124.00 TWD, about 14% below its 52-week high of 145.00 TWD and 100% above the low of 62.10 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 103.35 TWD is for.
Which stocks are comparable to Greatek Electronics Inc?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 Greatek Electronics Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 124.00 TWD, calculated fair value 103.35 TWD (−17%), Quality Score 67/100, 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 2441 calculated?
We run Greatek Electronics Inc 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 103.35 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 14.1 % above its aggregate fair value. Greatek Electronics Inc 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 Greatek Electronics Inc (2441)?
The closing price on Sep 24, 2026 was 124.00 TWD. Our model-based fair value is 103.35 TWD, about −17% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Greatek Electronics Inc right now?
Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (65.74 TWD to 135.82 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Greatek Electronics Inc (2441) come from?
Earnings per share at Greatek Electronics Inc grew +0.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.7 %, EBIT margin −3.5 %, tax rate −1.0 %, residual (interest, one-offs) +0.8 %. 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 Greatek Electronics Inc
How large is the market capitalisation of Greatek Electronics Inc (2441)?
The market capitalisation of Greatek Electronics Inc is 70.4B TWD (≈ $2.2B). 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 Greatek Electronics Inc (2441)?
The price-to-sales ratio of Greatek Electronics Inc is 4.23 (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 Greatek Electronics Inc (2441)?
Earnings per share at Greatek Electronics Inc are 4.28 TWD (price ÷ EPS = P/E 29.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Greatek Electronics Inc (2441)?
The dividend yield of Greatek Electronics Inc is 2.4% (payout 70.1%). 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 Greatek Electronics Inc (2441)?
The net margin of Greatek Electronics Inc is 14.6% (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 Greatek Electronics Inc (2441)?
The return on equity (ROE) of Greatek Electronics Inc is 11.0% (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 Greatek Electronics Inc (2441)?
On an EBIT basis the return on assets of Greatek Electronics Inc is 13.1% (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 Greatek Electronics Inc (2441)?
The operating margin of Greatek Electronics Inc is 19.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Greatek Electronics Inc (2441)?
Revenue at Greatek Electronics Inc is growing +21.2% versus a year earlier (3y avg +1.7%). 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 Greatek Electronics Inc (2441)?
Earnings per share at Greatek Electronics Inc are growing +35.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Greatek Electronics Inc (2441) hold?
Greatek Electronics Inc holds more cash than debt, 5.9B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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