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Mirle Automation Corp (2464) Fair Value & Analysis

Industrials · TW · Market cap 29.1B TWD (≈ $918M) · ISIN TW0002464005

What is Mirle Automation Corp really worth?

MA Mirle Automation Corp 2464 · TW
Price211.00 TWD
Fair Value150.47 TWD
Upside−28.7%
Quality51/100

A solid business, but trading 40% above our fair value of 150.47 TWD.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y −5.6 %/yr)
!Loss-making · -1.9% net margin
!Mixed vs. peers (7/13)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range 107.80 TWD – 192.83 TWD

Fair value as of: Aug 28, 2026

From 10 valuation models · updated 7 days ago

Fair value updated Aug 28, 2026, revised from 153.10 TWD to 150.47 TWD (−1.7%) since Aug 13, 2026. Share price +24.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (192.83 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

222.00 TWD 33.49 TWD Fair Value 150.47 TWD Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.

How to read this chart

60‑month range 33.49 TWD – 222.00 TWD · fair‑value band 107.80 TWD – 192.83 TWD · the 211.00 TWD price screens above the 150.47 TWD fair value. Dashed = 300-day average. As of Aug 28, 2026.

Full chart & analysis →

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Analysis

Mirle Automation Corp (2464) currently trades at 211.00 TWD, while our model-based Fair Value estimate is 150.47 TWD, implying the stock looks roughly 40.2% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials sector. Bull case: the Growth DCF group reads highest at a median of 53.94 TWD per share, and 0 of the 10 models we run sit above the 211.00 TWD price. Bear case: the Asset-Based group reads lowest at 15.28 TWD, and 10 of the 10 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Mirle Automation Corp generated revenue of 6.8B TWD at a net margin of −1.9%. Revenue grew 7.9% year over year. It earns a return on equity of −2.4%. Net debt stands at 133M TWD. Fundamentals as of Aug 28, 2026

Our scenario range runs from 107.80 TWD (bear case) to 192.83 TWD (bull case); at 211.00 TWD, the current price sits above 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 near its 52-week high and 297% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −52% fair-value upside, at −29%, 2464 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF 43.54 TWD 56.46 TWD 77.95 TWD 81
Growth DCF 44.79 TWD 57.22 TWD 76.65 TWD 80
5Y EBITDA Exit 24.33 TWD 26.76 TWD 29.63 TWD 77
All 10 models by family
DCF Models
FCF DCF 43.54 TWD 56.46 TWD 77.95 TWD 81
5Y Revenue Exit 39.79 TWD 53.38 TWD 71.66 TWD 73
5Y EBITDA Exit 24.33 TWD 26.76 TWD 29.63 TWD 77
10Y Revenue Exit 40.09 TWD 52.28 TWD 66.45 TWD 68
10Y EBITDA Exit 31.39 TWD 34.58 TWD 37.73 TWD 70
Multiples
EV/EBITDA 13.49 TWD 14.83 TWD 16.17 TWD 67
EV/Revenue 39.72 TWD 52.68 TWD 65.65 TWD 54
Asset-Based
NCAV (Graham) 11.40 TWD 15.28 TWD 22.81 TWD 54
Growth DCF
Growth DCF 44.79 TWD 57.22 TWD 76.65 TWD 80
Rev-Margin DCF 39.79 TWD 53.94 TWD 70.35 TWD 74

Widest divergence: Growth DCF (53.94 TWD) versus Multiples (14.83 TWD). Highest evidence: FCF DCF (81).

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Key figures & financial health

P/S ratio 4.28 TTM
EPS (TTM) −0.8400 TWD
Net margin −2.6% FY2025
Return on equity −2.4% TTM
Return on assets (EBIT) 1.9% avg 5y
Operating margin 2.2% TTM
More key figures
Growth
Revenue (TTM) 6.8B TWD TTM
Revenue growth (YoY) +7.9% 3y avg −14.7%
EPS growth (YoY) +12.7%
Balance sheet & cash flow
Free cash flow 720M TWD FY2025
Net debt 133M TWD FY2025 · ≈ 0.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 54 · Market factors (momentum, volatility) 74

Profitability 16
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 92
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 55
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Mirle Automation Corporation provides automation equipment systems and components in Taiwan, China, and internationally. It operates through Intelligent Automation System and Equipment; and Digital Technology Products and Industrial Controllers segments.

Full company description

Mirle Automation Corporation provides automation equipment systems and components in Taiwan, China, and internationally. It operates through Intelligent Automation System and Equipment; and Digital Technology Products and Industrial Controllers segments. The company offers automatic material handling systems, including clean room stocker, rail guided vehicle, auto guide vehicle, autonomous mobile robot, overhead hoist transport, and equipment front end module; automatic storage retrieval system, such as shuttle cart, intelligent logistics locker, pallet type, and intelligent sortation system; intelligent control systems, including Mirle IPC, DC servo drive, and IoT; special purpose equipment consisting of high precision coating and laminating system, optical glass molding press, and vehicle curved glass panel laminating process equipment; and intelligent immersion systems comprising information security, predictive maintenance, big data analysis and AI image platform, warehouse and content management systems, and B2B supply chain e-invoice solutions. It also provides semiconductor intelligent factory automation solution, such as foup and zip stocker, auto guide vehicle, conveyor RGV system, overhead hoist transfer, and lifter; intelligent automation systems comprising FPD transport and vehicle glass panel intelligent production system; intelligent factory logistics solutions; intelligent factory solutions consisting of data security and intelligent factory monitor system; intelligent manufacturing CPS solution, which include material control system, intelligent control system, digital-twins, and war room; banking risk control; and technical analysis services for intelligent factory and logistics automation. In addition, the company is involved in leasing business; developing and sale of software and databases; and construction planning, installation, consulting, and maintenance services. The company was incorporated in 1989 and is based in Hsinchu City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mirle Automation Corp reported revenue of 6.7B TWD in FY2025 versus 9.9B TWD in FY2021, a compound −9.3%/yr. Reported net income was −172M TWD in FY2025.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
6.7B TWD
Latest YoY
−11.0%
Avg. revenue 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.
−14.7%
Avg. revenue 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.
−5.6%
Avg. revenue 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.
+5.2%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −9.3%/yr
FY21 9.9B TWD
FY22 10.8B TWD
FY23 8.8B TWD
FY24 7.5B TWD
FY25 6.7B TWD
Net income
FY21 528M TWD
FY22 515M TWD
FY23 175M TWD
FY24 103M TWD
FY25 −172M TWD
Character of growth · EPS growth decomposed (2014-2025) −13.6 % p.a.
Revenue per share +0.2 %

of which total revenue +0.2 % · buybacks/dilution +0.0 %

EBIT margin −29.7 %
Tax rate −1.1 %
Residual (interest, one-offs) +24.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

2464 screens 40% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Mirle Automation Corp Fair Value". https://www.fairvalue-calculator.com/stock/2464

Peer Group

Specialty Industrial Machinery · 794 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 51 · Below median
Fair Value upside −32% · Above median
Return on assets 0% · Bottom 25%
Net margin (TTM) −2% · Bottom 25%
Operating margin (TTM) 2% · Below median
Revenue growth 8% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/B 0.19× · Cheaper than 75% of peers
P/S (TTM) 0.14× · Cheaper than 75% of peers
P/FCF 1.3× · Cheaper than median
PEG 0.64× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE40 · sector 21
PAST0 · sector 28
HEALTH98 · sector 96
DIVIDEND0 · sector 27

VALUE 0: the price sits above our fair-value range.

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

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $953.09 $131.95 −86%
SIE SIE €289.85 €139.77 −52%
Eaton Corporation ETN $402.78 $168.65 −58%
Parker-Hannifin Corporation PH $995.02 $398.69 −60%
Atlas Copco AB ATCOA kr 206.60 kr 112.59 −46%
Cummins Inc CMI $564.40 $348.94 −38%
Illinois Tool Works Inc ITW $281.67 $145.84 −48%
Emerson Electric Co EMR $155.18 $58.44 −62%
AMETEK, Inc AME $236.25 $125.80 −47%
Rockwell Automation, Inc ROK $417.53 $125.76 −70%

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Frequently asked questions

Is Mirle Automation Corp (2464) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of 150.47 TWD versus a price of 211.00 TWD, about −29% upside (overvalued).
What is the fair value of 2464?
Our model-based fair value for Mirle Automation Corp is 150.47 TWD (as of Aug 28, 2026), built from audited fundamentals. The current price: 211.00 TWD.
What is the quality score of 2464?
Mirle Automation Corp has a Quality Score of 51/100. 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 Mirle Automation Corp (2464)?
Mirle Automation Corp reported trailing-twelve-month revenue of about 6.8B TWD (latest available figure, as of Aug 28, 2026).
What is the net profit margin of 2464?
The net profit margin of Mirle Automation Corp is about −1.9%, meaning it is currently running at a net loss. Based on the latest reported figures.
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