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Fortune Information Systems Corp (2468) Fair Value & Analysis

Technology · TW · Market cap 2.5B TWD

FI Fortune Information Systems Corp 2468 · TW
Price34.95 TWD
Fair Value16.11 TWD
Upside-53.9%
Quality58/100
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Expensive Growth
Thin margins · 3.5% net margin
Low debt · negative free cash flow
2.87% dividend yield
Trails peers (4/13)
Narrow moat 36/100
Evidence: High Range 13.34 TWD – 21.09 TWD Share as image

Fair value as of: Jul 21, 2026

From 15 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 16.06 TWD to 16.11 TWD (+0.3%) since Jul 7, 2026. Share price −4.5% over the past month.

A solid business, but screening 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (21.09 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

79.80 TWD 11.27 TWD Fair Value 16.11 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 11.27 TWD – 79.80 TWD · fair‑value band 13.34 TWD – 21.09 TWD · the 34.95 TWD price screens above the 16.11 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Fortune Information Systems Corp (2468) currently trades at 34.95 TWD, while our model-based Fair Value estimate is 16.11 TWD, implying the stock looks roughly 53.9% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Fortune Information Systems Corp generated revenue of 2.5B TWD at a net margin of 3.5%. Revenue declined 19.5% year over year. It earns a return on equity of 7.0%. The balance sheet holds a net cash position of 157M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 13.34 TWD (bear case) to 21.09 TWD (bull case); at 34.95 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 about 50% below its 52-week high and 11% 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 -54%, 2468 screens richer 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
Residual Income 14.63 TWD 15.37 TWD 16.07 TWD 76
ROIC Compounder 12.30 TWD 13.65 TWD 14.82 TWD 72
Gordon GGM 7.90 TWD 9.80 TWD 11.72 TWD 70
All 15 models by family
DCF Models
Owner Earnings 17.75 TWD 22.36 TWD 30.99 TWD 31
Earnings-Based
Graham-Dodd 8.51 TWD 14.46 TWD 17.63 TWD 54
EPV 12.30 TWD 13.65 TWD 14.82 TWD 59
Dividend Discount
Gordon GGM 7.90 TWD 9.80 TWD 11.72 TWD 70
DDM Multi-Stage 7.90 TWD 10.48 TWD 13.53 TWD 61
Multiples
P/E Multiple 18.76 TWD 25.02 TWD 31.27 TWD 63
P/S Multiple 15.95 TWD 21.26 TWD 26.58 TWD 58
P/B Multiple 15.95 TWD 21.26 TWD 26.58 TWD 55
EV/EBIT 20.37 TWD 25.92 TWD 31.46 TWD 53
EV/EBITDA 17.77 TWD 22.44 TWD 27.12 TWD 54
EV/Revenue 14.95 TWD 19.76 TWD 24.56 TWD 43
Asset-Based
NCAV (Graham) 9.11 TWD 12.21 TWD 18.23 TWD 50
Economic Profit
Residual Income 14.63 TWD 15.37 TWD 16.07 TWD 76
ROIC Compounder 12.30 TWD 13.65 TWD 14.82 TWD 72
Growth Earnings
Growth-Adj P/E 13.27 TWD 18.96 TWD 24.65 TWD 68

Widest divergence: DCF Models (22.36 TWD) versus Dividend Discount (9.80 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.5B TWD
Revenue growth (YoY) -19.5%
Net margin 3.5%
Return on equity 7.0%
Free cash flow −294M TWD FY2025
P/E ratio 31.4
More key figures
Operating margin 3.5%
EPS (TTM) 1.25 TWD
Dividend yield 2.5%
EPS growth (YoY) +11.1%
Net cash 157M TWD FY2025

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 55 · Market factors (momentum, volatility) 31

Profitability 40
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 84
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

Fortune Information Systems Corp engages in buying, selling, leasing, and repairing office machines, office automation equipment, computers, and other information equipment in Taiwan.

Full company description

Fortune Information Systems Corp engages in buying, selling, leasing, and repairing office machines, office automation equipment, computers, and other information equipment in Taiwan. The company is involved in buying, selling, leasing, and repairing computer peripherals, microfilm equipment, devices, and parts, accessories, and supplies; system analysis and programming of computer and other information software; and provision of data processing services. It also provides hybrid cloud services, enterprise application developments, data protection and DR solutions, network management and IT security solutions, and data center management and operation services; value added services comprising outsourcing project, software model, server room and end equipment management, user help desk, document imaging, warehouse logistics, and insurance finance. In addition, the company provides enterprise public/private cloud infrastructure construction and planning, network system planning, information security, backup and redundancy planning, financial institution information integration, cloud monitoring management, software and project development, and video projection product integration services. Fortune Information Systems Corp was founded in 1966 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

Fortune Information Systems Corp reported revenue of 2.7B TWD in FY2025 versus 2.1B TWD in FY2021, a compound +5.8%/yr. Reported net income was 87.5M TWD in FY2025, compounding +18.3%/yr from FY2021.

Growth Quality 36/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.7B TWD
Latest YoY
+19.9%
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.
+5.9%
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.
+4.5%
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.
−1.3%
Revenue +5.8%/yr
FY21 2.1B TWD
FY22 2.3B TWD
FY23 2.3B TWD
FY24 2.2B TWD
FY25 2.7B TWD
Net income +18.3%/yr
FY21 44.7M TWD
FY22 63.5M TWD
FY23 78.4M TWD
FY24 66.9M TWD
FY25 87.5M TWD
Character of growth · EPS growth decomposed (2014-2025) +5.4 % p.a.
Revenue per share +5.8 pp

of which total revenue +5.7 pp · buybacks/dilution +0.0 pp

EBIT margin +1.7 pp
Tax rate −0.7 pp
Residual (interest, one-offs) −1.3 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).

2468 screens 54% overvalued. Compare with International Business Machines Corporation →

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Cite: Fair Value Calculator (2026). "Fortune Information Systems Corp Fair Value". https://www.fairvalue-calculator.com/stock/2468

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 58 · Above median
Fair Value upside −54% · Bottom 25%
Return on equity (TTM) 7% · Below median
Return on assets 2% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth -20% · Bottom 25%
Dividend yield (TTM) 2.9% · Above median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 28.1× · Pricier than median
P/B 1.93× · Cheaper than median
P/S (TTM) 0.97× · Pricier than median
EV/EBITDA 22.8× · 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 0 · sector 21
FUTURE 0 · sector 30
PAST 28 · sector 36
HEALTH 99 · sector 97
DIVIDEND 57 · sector 37

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

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 Fortune Information Systems Corp (2468) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 16.11 TWD versus a price of 34.95 TWD, about −54% (overvalued).
What is the fair value of 2468?
Our model-based fair value for Fortune Information Systems Corp is 16.11 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 34.95 TWD.
What is the quality score of 2468?
Fortune Information Systems Corp has a Quality Score of 58/100. 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 Fortune Information Systems Corp (2468)?
Fortune Information Systems Corp reported trailing-twelve-month revenue of about 2.5B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2468?
The net profit margin of Fortune Information Systems Corp is about 3.5%, meaning it keeps roughly 3.5% of revenue as net income. Based on the latest reported figures.
Does Fortune Information Systems Corp pay a dividend?
Fortune Information Systems Corp currently shows a dividend yield of about 2.50% 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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