Transcend Information Inc (2451) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Transcend Information Inc TWD 193, price TWD 285, upside -32.1%, quality 89 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 54.37 TWD – 363.50 TWD · fair‑value band 139.70 TWD – 269.57 TWD · the 284.50 TWD price screens above the 193.29 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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Transcend Information, Inc., together with its subsidiaries, engages in manufacturing, processing, and trading of computer software and hardware, peripheral equipment, and computer parts in Taiwan, rest of Asia, the United States, Europe, and internationally.
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Transcend Information, Inc., together with its subsidiaries, engages in manufacturing, processing, and trading of computer software and hardware, peripheral equipment, and computer parts in Taiwan, rest of Asia, the United States, Europe, and internationally. The company offers internal and portable solid-state drive, external drive, dashcam, secret recorder, memory card, flash drive, and memory module, as well as care readers, DVD burners, and accessories. It also provides customized services comprising customized screen-printed USB flash drives and preloaded content services. In addition, the company offers embedded solutions, including enterprise grade and industrial SSD solutions, industrial memory cards and modules, industrial flash solutions, and embedded lens module used for gambling entertainment, network communication, smart internet of things, security and defense, automation, embedded, transportation, and medical care applications. Further, it provides embedded software solutions. Transcend Information, Inc. was incorporated in 1989 and is headquartered in Taipei, Taiwan.
Stock analysis
Transcend Information Inc (2451) currently trades at 284.50 TWD, while our model-based Fair Value estimate is 193.29 TWD, implying the stock looks roughly 47.2% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 270.86 TWD per share, and 3 of the 24 models we run sit above the 284.50 TWD price.
Bear case: the Asset-Based group reads lowest at 35.76 TWD, and 21 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 139.70 TWD (bear) to 269.57 TWD (bull), the price of 284.50 TWD sits above 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 89/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Transcend Information Inc reported revenue of 17.1B TWD in FY2025 versus 14.3B TWD in FY2021, a compound +4.6%/yr. Reported net income was 5.6B TWD in FY2025, compounding +21.8%/yr from FY2021.
Key figures
Market cap 122B TWD (≈ $3.8B) · P/E ratio 22.0 · P/S ratio 7.14 · EPS (TTM) 12.95 TWD · Dividend yield 4.1% · Net margin 32.5% · Return on equity 60.9% · Return on assets (EBIT) 14.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 170% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −33% fair-value upside, at −32%, 2451 screens cheaper than that median.
Fair Value models
Bear 139.70 TWDFair Value 193.29 TWDBull 269.57 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 (0.8412 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.87/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+69.8%
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.
+12.2%
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.
+8.4%
Start year 2020 (pandemic). Over 10 years: −3.7% a year
Revenue growth 25 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.
+4.3%
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What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+22.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.3%
Dividend (yield on the price)4.1%
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.27% vs 6%, picking up
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.13% → 38%
2025 sits 141% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 8.7%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+9.8%
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 +8.1% a year for the price.
Compare Transcend Information Inc with another stock
Price, fair value, quality and upside side by side.
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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.Computer Hardware · 220 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score89 · Top 25%
Fair Value upside−32% · Below median
Profitability
Return on equity (TTM)61% · Top 25%
Return on assets33% · Top 25%
Net margin (TTM)48% · Top 25%
Operating margin (TTM)72% · Top 25%
Growth and dividend
Revenue growth357% · Top 25%
Dividend yield (TTM)4.1% · Top 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Computer Hardware median · lower = cheaper
P/E (TTM)22.0× · Cheaper than median
P/B5.30× · Priciest 25%
P/S (TTM)4.39× · Priciest 25%
P/FCF0.7× · Cheaper than median
EV/EBITDA7.6× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 59
PAST (return on equity)100· sector 26
HEALTH (low debt)99· sector 97
DIVIDEND (yield)83· sector 40
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Transcend Information Inc Fair Value". https://www.fairvalue-calculator.com/stock/2451
Frequently asked questions
Is Transcend Information Inc (2451) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 193.29 TWD versus a price of 284.50 TWD, about −32% upside (overvalued).
What is the fair value of 2451?
Our model-based fair value for Transcend Information Inc is 193.29 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 284.50 TWD.
What is the quality score of 2451?
Transcend Information Inc has a Quality Score of 89/100. 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 Transcend Information Inc (2451)?
Our model-based price target is the fair value of 193.29 TWD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 139.70 TWD, optimistic scenario 269.57 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Transcend Information Inc stock forecast for 2026?
Our models put fair value at 193.29 TWD, about −32% upside versus a price of 284.50 TWD (overvalued). Cautious scenario 139.70 TWD, optimistic scenario 269.57 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Transcend Information Inc (2451)?
Transcend Information Inc reported trailing-twelve-month revenue of about 27.8B TWD (latest available figure, as of Sep 24, 2026).
Does Transcend Information Inc pay a dividend?
Transcend Information Inc currently shows a dividend yield of about 4.15% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Transcend Information Inc (2451)?
For today's price to be fair in a discounted-cash-flow model, Transcend Information Inc would have to grow free cash flow by +9.8 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2451 use?
Our models discount Transcend Information Inc at 9.5 %: a base by market capitalisation (mid), damped by beta 0.68, 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 Transcend Information Inc that is +9.8 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Transcend Information Inc (2451) delivered so far?
Over the past 5 years revenue at Transcend Information Inc grew +8.4 % a year. The price currently implies +9.8 % 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 Transcend Information Inc (2451) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Transcend Information Inc (+9.8 % 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 Transcend Information Inc (2451)?
The free-cash-flow yield on the price is 4.35 %: that much free cash flow Transcend Information Inc produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Transcend Information Inc (2451)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Transcend Information Inc it is 193.29 TWD per share (as of Sep 24, 2026), against a price of 284.50 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Transcend Information Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2451 trades above its calculated fair value: price 284.50 TWD, fair value 193.29 TWD, a gap of about −32% (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 2451?
No. The price is what the market pays today (284.50 TWD); the fair value is what the company's own numbers justify (193.29 TWD). For Transcend Information Inc the two are 91.21 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Transcend Information Inc worth?
The market values Transcend Information Inc at about 122B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 284.50 TWD; our models calculate a fair value of 193.29 TWD per share.
What do the bullish and bearish scenarios say about 2451?
Our models span a range for Transcend Information Inc: cautious scenario 139.70 TWD, base 193.29 TWD, optimistic 269.57 TWD per share (as of Sep 24, 2026, price 284.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2451?
Transcend Information Inc trades at a price-to-earnings ratio of 22.0 (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 193.29 TWD is built from several models across several years. Other multiples: P/B 5.3, P/S 4.4, EV/EBITDA 7.6.
How solid is the balance sheet of Transcend Information Inc (2451)?
Balance-sheet figures for Transcend Information Inc (as of Sep 24, 2026): return on equity 60.9%, debt of 0.02 per unit of equity. They feed the Quality Score of 89/100, which measures business quality independently of the share price.
How far is 2451 from its 52-week high?
Transcend Information Inc trades at 284.50 TWD, about 22% below its 52-week high of 363.50 TWD and 170% above the low of 105.50 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 193.29 TWD is for.
Which stocks are comparable to Transcend Information Inc?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Western Digital Corporation, Wiwynn 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 Transcend Information Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 284.50 TWD, calculated fair value 193.29 TWD (−32%), Quality Score 89/100, from 24 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 2451 calculated?
We run Transcend Information Inc through 24 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 193.29 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. Transcend Information 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 Transcend Information Inc (2451)?
The closing price on Sep 24, 2026 was 284.50 TWD. Our model-based fair value is 193.29 TWD, about −32% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Transcend Information Inc right now?
A high-quality business (quality 89/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (269.57 TWD). The favourable scenario is already priced in. A fairly wide model range (139.70 TWD to 269.57 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Transcend Information Inc (2451) come from?
Earnings per share at Transcend Information Inc grew +0.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share −7.2 %, EBIT margin +8.1 %, tax rate −0.7 %, residual (interest, one-offs) +0.5 %. 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 Transcend Information Inc
How large is the market capitalisation of Transcend Information Inc (2451)?
The market capitalisation of Transcend Information Inc is 122B TWD (≈ $3.8B). 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 Transcend Information Inc (2451)?
The price-to-sales ratio of Transcend Information Inc is 7.14 (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 Transcend Information Inc (2451)?
Earnings per share at Transcend Information Inc are 12.95 TWD (price ÷ EPS = P/E 22.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Transcend Information Inc (2451)?
The dividend yield of Transcend Information Inc is 4.1% (payout 91.1%). 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 Transcend Information Inc (2451)?
The net margin of Transcend Information Inc is 32.5% (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 Transcend Information Inc (2451)?
The return on equity (ROE) of Transcend Information Inc is 60.9% (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 Transcend Information Inc (2451)?
On an EBIT basis the return on assets of Transcend Information Inc is 14.4% (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 Transcend Information Inc (2451)?
The operating margin of Transcend Information Inc is 71.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Transcend Information Inc (2451)?
Revenue at Transcend Information Inc is growing +357% versus a year earlier (3y avg +12.2%). 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 Transcend Information Inc (2451)?
Earnings per share at Transcend Information Inc are growing +20.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Transcend Information Inc (2451) hold?
Transcend Information Inc holds more cash than debt, 1.8B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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