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Syscom Computer Engineering Co (2453) Fair Value & Analysis

Technology · TW · Market cap 5.1B TWD

SC Syscom Computer Engineering Co 2453 · TW
Price52.60 TWD
Fair Value62.36 TWD
Upside+18.6%
Quality70/100
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Healthy Growth
Thin margins · 4.2% net margin
Low debt · generates free cash flow
5.09% dividend yield
Ranks above peers (11/14)
Moderate moat 45/100
Evidence: High Range 46.77 TWD – 77.96 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 21 days ago

Share price −2.0% over the past month.

A solid business, screening 19% undervalued on our models.

What matters now

  • Our model range runs from 46.77 TWD (bear) to 77.96 TWD (bull), base 62.36 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 70/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

76.41 TWD 14.67 TWD Fair Value 62.36 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 14.67 TWD – 76.41 TWD · fair‑value band 46.77 TWD – 77.96 TWD · the 52.60 TWD price screens below the 62.36 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Syscom Computer Engineering Co (2453) currently trades at 52.60 TWD, while our model-based Fair Value estimate is 62.36 TWD, implying the stock looks roughly 18.6% undervalued today. The Quality Score stands at 70/100 (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, Syscom Computer Engineering Co generated revenue of 7.5B TWD at a net margin of 4.2%. Revenue grew 7.5% year over year. It earns a return on equity of 15.3%. The balance sheet holds a net cash position of 589M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 46.77 TWD (bear case) to 77.96 TWD (bull case); at 52.60 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 20% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 19%, 2453 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 42.97 TWD 59.40 TWD 81.84 TWD 80
Residual Income 21.51 TWD 25.57 TWD 43.62 TWD 76
Rev-Margin DCF 38.65 TWD 57.03 TWD 78.02 TWD 74
All 26 models by family
DCF Models
FCF DCF 42.41 TWD 60.99 TWD 87.98 TWD 38
Owner Earnings 47.20 TWD 68.23 TWD 98.77 TWD 31
5Y Revenue Exit 38.65 TWD 56.84 TWD 79.79 TWD 39
5Y EBITDA Exit 45.30 TWD 69.21 TWD 96.82 TWD 41
5Y P/E Exit 45.64 TWD 69.83 TWD 94.98 TWD 38
10Y Revenue Exit 38.78 TWD 55.42 TWD 77.26 TWD 36
10Y EBITDA Exit 43.84 TWD 63.78 TWD 89.90 TWD 37
10Y P/E Exit 44.05 TWD 64.20 TWD 88.53 TWD 35
Earnings-Based
Graham-Dodd 21.20 TWD 64.03 TWD 84.89 TWD 54
Lynch FV 13.64 TWD 19.49 TWD 25.34 TWD 50
PEG = 1.0 13.64 TWD 19.49 TWD 25.34 TWD 46
EPV 31.60 TWD 35.65 TWD 39.13 TWD 59
Dividend Discount
Gordon GGM 22.83 TWD 45.50 TWD 68.90 TWD 70
DDM Multi-Stage 22.83 TWD 36.62 TWD 48.03 TWD 61
Multiples
P/E Multiple 46.77 TWD 62.36 TWD 77.96 TWD 63
P/S Multiple 39.76 TWD 53.01 TWD 66.26 TWD 58
P/B Multiple 39.76 TWD 53.01 TWD 66.26 TWD 55
EV/EBIT 53.63 TWD 69.50 TWD 85.38 TWD 53
EV/EBITDA 52.18 TWD 67.57 TWD 82.97 TWD 54
EV/Revenue 38.10 TWD 51.86 TWD 65.62 TWD 43
Asset-Based
NCAV (Graham) 11.18 TWD 14.98 TWD 22.36 TWD 50
Growth DCF
Growth DCF 42.97 TWD 59.40 TWD 81.84 TWD 80
Rev-Margin DCF 38.65 TWD 57.03 TWD 78.02 TWD 74
Economic Profit
Residual Income 21.51 TWD 25.57 TWD 43.62 TWD 76
ROIC Compounder 33.12 TWD 39.90 TWD 47.76 TWD 72
Growth Earnings
Growth-Adj P/E 38.47 TWD 54.96 TWD 71.45 TWD 68

Widest divergence: DCF Models (63.78 TWD) versus Asset-Based (14.98 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 7.5B TWD
Revenue growth (YoY) +7.5%
Net margin 4.2%
Return on equity 15.3%
Free cash flow 340M TWD FY2025
P/E ratio 16.3
More key figures
Operating margin 6.9%
EPS (TTM) 3.11 TWD
Dividend yield 4.7%
EPS growth (YoY) +1.8%
Net cash 589M TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 69 · Market factors (momentum, volatility) 45

Profitability 61
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 22
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

Syscom Computer Engineering Co., together with its subsidiaries, provides information technology services in Taiwan, China, the United States, and Southeast Asia. The company leases and sells computer systems; designs computer software; and offers services for the integration of computer information systems, and maintenance of computer hardware and software.

Full company description

Syscom Computer Engineering Co., together with its subsidiaries, provides information technology services in Taiwan, China, the United States, and Southeast Asia. The company leases and sells computer systems; designs computer software; and offers services for the integration of computer information systems, and maintenance of computer hardware and software. It also develops, manufactures, and sells computer software, hardware, and related products; engages in domestic and foreign investment referral; and provides diagnostic consulting for corporate management, computerized design consulting, network wiring engineering, and after-sales technical services, as well as information software, data processing, and electronic information supply services. In addition, the company offers services in the areas of online custom information integration, e-business, high-tech manufacturing, network planning and implementation, outsourcing, and training. Further, its industry-specific solutions include planning, integration, deployment, and maintenance services; networking; electronic transaction real-time risk management systems; banking and securities trading platforms; healthcare information solutions; telecom infrastructure; value-added telecom services; real-time transit system management; eGovernment; public sector unified portal platforms; information security solutions; office automation; data warehouse outsourcing; computer center facilities management; database design; and Internet database application design services. Further, the company offers its solutions for financial institutions, high-tech manufacturers, public sector, securities companies, healthcare and medical industries, telecommunications, and educational institutions. Syscom Computer Engineering Co. was incorporated in 1975 and is headquartered in Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Syscom Computer Engineering Co reported revenue of 7.4B TWD in FY2025 versus 5.9B TWD in FY2021, a compound +6.1%/yr. Reported net income was 312M TWD in FY2025, compounding +9.6%/yr from FY2021.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
7.4B TWD
Latest YoY
+7.2%
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.
+7.7%
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.
+5.2%
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.
+6.2%
Revenue +6.1%/yr
FY21 5.9B TWD
FY22 6.0B TWD
FY23 6.4B TWD
FY24 6.9B TWD
FY25 7.4B TWD
Net income +9.6%/yr
FY21 216M TWD
FY22 251M TWD
FY23 278M TWD
FY24 306M TWD
FY25 312M TWD
Character of growth · EPS growth decomposed (2014-2025) +16.4 % p.a.
Revenue per share +5.8 pp

of which total revenue +5.9 pp · buybacks/dilution +0.0 pp

EBIT margin +12.6 pp
Tax rate −0.3 pp
Residual (interest, one-offs) −1.8 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). "Syscom Computer Engineering Co Fair Value". https://www.fairvalue-calculator.com/stock/2453

Peer Group

Information Technology Services · 476 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 70 · Top 25%
Fair Value upside +19% · Above median
Return on equity (TTM) 15% · Above median
Return on assets 5% · Above median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 7% · Above median
Revenue growth 8% · Above median
Dividend yield (TTM) 5.1% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 16.3× · Cheaper than median
P/B 2.27× · Pricier than median
P/S (TTM) 0.67× · Cheaper than median
P/FCF 0.5× · Cheaper than median
EV/EBITDA 10.7× · Pricier than median

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 58 · sector 21
FUTURE 38 · sector 29
PAST 61 · sector 37
HEALTH 100 · sector 97
DIVIDEND 100 · sector 37

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is Syscom Computer Engineering Co (2453) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 62.36 TWD versus a price of 52.60 TWD, about +19% (undervalued).
What is the fair value of 2453?
Our model-based fair value for Syscom Computer Engineering Co is 62.36 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 52.60 TWD.
What is the quality score of 2453?
Syscom Computer Engineering Co has a Quality Score of 70/100. 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 Syscom Computer Engineering Co (2453)?
Syscom Computer Engineering Co reported trailing-twelve-month revenue of about 7.5B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2453?
The net profit margin of Syscom Computer Engineering Co is about 4.2%, meaning it keeps roughly 4.2% of revenue as net income. Based on the latest reported figures.
Does Syscom Computer Engineering Co pay a dividend?
Syscom Computer Engineering Co currently shows a dividend yield of about 4.66% relative to its recent price (as of Jul 21, 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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