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Senao International Co (2450) Fair Value & Analysis

Technology · TW · Market cap 7.4B TWD

SI Senao International Co 2450 · TW
Price28.35 TWD
Fair Value29.31 TWD
Upside+3.4%
Quality62/100
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Healthy Growth
Thin margins · 1.2% net margin
Low debt · generates free cash flow
5.36% dividend yield
Mixed vs. peers (8/14)
Narrow moat 27/100
Evidence: High Range 21.98 TWD – 36.64 TWD Share as image

Fair value as of: Jul 23, 2026

From 21 valuation models · updated 18 days ago

Share price −1.4% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 21.98 TWD (bear) to 36.64 TWD (bull), base 29.31 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 62/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

40.45 TWD 25.42 TWD Fair Value 29.31 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 25.42 TWD – 40.45 TWD · fair‑value band 21.98 TWD – 36.64 TWD · the 28.35 TWD price screens below the 29.31 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Senao International Co (2450) currently trades at 28.35 TWD, while our model-based Fair Value estimate is 29.31 TWD, implying the stock looks roughly 3.4% fairly valued today. The Quality Score stands at 62/100 (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: high), always confirm before acting.

Over the trailing twelve months, Senao International Co generated revenue of 34.3B TWD at a net margin of 1.2%. Revenue grew 15.1% year over year. It earns a return on equity of 6.4%. The balance sheet holds a net cash position of 723M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 21.98 TWD (bear case) to 36.64 TWD (bull case); at 28.35 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 11% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -33% fair-value upside, at 3%, 2450 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 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
Highest evidence
Growth DCF 17.43 TWD 21.19 TWD 27.47 TWD 80
Residual Income 19.85 TWD 20.72 TWD 21.68 TWD 76
ROIC Compounder 14.14 TWD 15.52 TWD 16.71 TWD 72
All 21 models by family
DCF Models
FCF DCF 17.03 TWD 20.92 TWD 27.96 TWD 38
Owner Earnings 33.77 TWD 43.27 TWD 60.45 TWD 31
5Y Revenue Exit 16.59 TWD 21.57 TWD 28.74 TWD 39
5Y EBITDA Exit 23.33 TWD 33.07 TWD 45.80 TWD 41
5Y P/E Exit 24.95 TWD 35.84 TWD 48.59 TWD 38
10Y Revenue Exit 16.36 TWD 20.68 TWD 25.62 TWD 36
10Y EBITDA Exit 20.72 TWD 28.11 TWD 36.65 TWD 37
10Y P/E Exit 21.69 TWD 29.90 TWD 38.46 TWD 35
Earnings-Based
Graham-Dodd 11.72 TWD 20.37 TWD 24.95 TWD 54
EPV 14.14 TWD 15.52 TWD 16.71 TWD 59
Multiples
P/E Multiple 28.45 TWD 37.93 TWD 47.42 TWD 63
P/S Multiple 21.98 TWD 29.31 TWD 36.64 TWD 58
P/B Multiple 21.98 TWD 29.31 TWD 36.64 TWD 55
EV/EBIT 22.89 TWD 28.71 TWD 34.54 TWD 53
EV/EBITDA 30.78 TWD 39.25 TWD 47.71 TWD 54
EV/Revenue 17.19 TWD 22.24 TWD 27.29 TWD 43
Asset-Based
NCAV (Graham) 12.47 TWD 16.71 TWD 24.94 TWD 50
Growth DCF
Growth DCF 17.43 TWD 21.19 TWD 27.47 TWD 80
Economic Profit
Residual Income 19.85 TWD 20.72 TWD 21.68 TWD 76
ROIC Compounder 14.14 TWD 15.52 TWD 16.71 TWD 72
Growth Earnings
Growth-Adj P/E 20.06 TWD 28.65 TWD 37.25 TWD 68

Widest divergence: Multiples (29.31 TWD) versus Earnings-Based (15.52 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 34.3B TWD
Revenue growth (YoY) +15.1%
Net margin 1.2%
Return on equity 6.4%
Free cash flow 311M TWD FY2025
P/E ratio 16.7
More key figures
Operating margin 0.7%
EPS (TTM) 1.72 TWD
Dividend yield 5.4%
EPS growth (YoY) -44.1%
Net cash 723M TWD FY2025

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 50

Profitability 48
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 15
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

Senao International Co.,Ltd. sells and distributes mobile handheld devices in China. The company also sells mobile phones, information appliance, home appliances, peripheral products, health care, information and communication technologies products, as well as provides the related repairs and maintenance and liability insurance agency services.

Full company description

Senao International Co.,Ltd. sells and distributes mobile handheld devices in China. The company also sells mobile phones, information appliance, home appliances, peripheral products, health care, information and communication technologies products, as well as provides the related repairs and maintenance and liability insurance agency services. The company was formerly known as Senao Business Development Company Limited and changed its name to Senao International Co., Ltd. in August 1994. Senao International Co., Ltd. was incorporated in 1979 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Senao International Co reported revenue of 33.1B TWD in FY2025 versus 31.0B TWD in FY2021, a compound +1.6%/yr. Reported net income was 445M TWD in FY2025, compounding −7.1%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
33.1B TWD
Latest YoY
+2.5%
Avg. growth/yr (3Y) 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.
+2.1%
Avg. growth/yr (5Y) 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.
+4.2%
Avg. growth/yr (23Y) 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.
+4.3%
Revenue +1.6%/yr
FY21 31.0B TWD
FY22 31.2B TWD
FY23 31.3B TWD
FY24 32.3B TWD
FY25 33.1B TWD
Net income −7.1%/yr
FY21 597M TWD
FY22 658M TWD
FY23 706M TWD
FY24 478M TWD
FY25 445M TWD
Character of growth · EPS growth decomposed (2014-2025) −4.2 % p.a.
Revenue per share −1.7 pp

of which total revenue −1.5 pp · buybacks/dilution −0.2 pp

EBIT margin −2.7 pp
Tax rate −0.1 pp
Residual (interest, one-offs) +0.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Senao International Co Fair Value". https://www.fairvalue-calculator.com/stock/2450

Peer Group

Electronics & Computer Distribution · 151 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 62 · Top 25%
Fair Value upside +3% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 1% · Bottom 25%
Revenue growth 15% · Above median
Dividend yield (TTM) 5.4% · Top 25%
Debt / equity 0.08× · Higher than median

Valuation Multiples vs Electronics & Computer Distribution median · lower = cheaper

P/E (TTM) 16.7× · Cheaper than median
P/B 1.15× · Cheaper than median
P/S (TTM) 0.22× · Cheaper than median
P/FCF 0.7× · Cheaper than median
EV/EBITDA 15.3× · 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 38 · sector 14
FUTURE 76 · sector 57
PAST 26 · sector 36
HEALTH 96 · sector 98
DIVIDEND 100 · sector 39

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 Electronics & Computer Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
TD SYNNEX Corporation SNX $251.52 $207.02 -18%
Unisplendour Corporation 000938 ¥38.59 ¥11.79 -69%
Rexel S.A RXL €38.59 €33.31 -14%
Arrow Electronics, Inc ARW $204.10 $115.40 -43%
Avnet, Inc AVT $87.13 $58.57 -33%
WPG Holdings 3702 106.50 TWD 102.31 TWD -4%
Shenzhen Huaqiang Industry Co 000062 ¥22.37 ¥7.52 -66%
Synnex Technology International Corporation 2347 85.30 TWD 86.30 TWD +1%
Nanjing Sunlord Electronics Corporation 300975 ¥37.37 ¥8.60 -77%
Beijing Tricolor Technology Co 603516 ¥106.52 ¥23.39 -78%

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Frequently asked questions

Is Senao International Co (2450) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 29.31 TWD versus a price of 28.35 TWD, about +3% (fairly valued).
What is the fair value of 2450?
Our model-based fair value for Senao International Co is 29.31 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 28.35 TWD.
What is the quality score of 2450?
Senao International Co has a Quality Score of 62/100. 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 Senao International Co (2450)?
Senao International Co reported trailing-twelve-month revenue of about 34.3B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 2450?
The net profit margin of Senao International Co is about 1.2%, meaning it keeps roughly 1.2% of revenue as net income. Based on the latest reported figures.
Does Senao International Co pay a dividend?
Senao International Co currently shows a dividend yield of about 5.36% relative to its recent price (as of Jul 23, 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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