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Lelon Electronics Corp (2472) Fair Value & Analysis

Technology · TW · Market cap 43.7B TWD

LE Lelon Electronics Corp 2472 · TW
Price229.50 TWD
Fair Value174.55 TWD
Upside-23.9%
Quality65/100
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Healthy Growth
Solidly profitable · 12.4% net margin
Low debt · generates free cash flow
1.22% dividend yield
Ranks above peers (11/14)
Moderate moat 61/100
Evidence: Medium Range 123.56 TWD – 218.19 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Share price −34.6% over the past month.

A solid business, but screening 24% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (218.19 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

453.50 TWD 37.82 TWD Fair Value 174.55 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 37.82 TWD – 453.50 TWD · fair‑value band 123.56 TWD – 218.19 TWD · the 229.50 TWD price screens above the 174.55 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

Lelon Electronics Corp (2472) currently trades at 229.50 TWD, while our model-based Fair Value estimate is 174.55 TWD, implying the stock looks roughly 23.9% overvalued today. The Quality Score stands at 65/100 (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: medium).

Over the trailing twelve months, Lelon Electronics Corp generated revenue of 11.5B TWD at a net margin of 12.4%. Revenue grew 9.3% year over year. It earns a return on equity of 14.5%. The balance sheet holds a net cash position of 2.3B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 123.56 TWD (bear case) to 218.19 TWD (bull case); at 229.50 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 44% below its 52-week high and 235% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -24%, 2472 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 BearBaseBull Evidence
Highest evidence
Growth DCF 109.98 TWD 152.40 TWD 213.60 TWD 80
Residual Income 57.71 TWD 74.98 TWD 204.29 TWD 76
Rev-Margin DCF 128.67 TWD 197.77 TWD 277.61 TWD 74
All 26 models by family
DCF Models
FCF DCF 108.67 TWD 156.89 TWD 231.17 TWD 38
Owner Earnings 96.73 TWD 138.09 TWD 201.82 TWD 31
5Y Revenue Exit 128.67 TWD 198.51 TWD 288.61 TWD 39
5Y EBITDA Exit 153.16 TWD 244.65 TWD 352.41 TWD 41
5Y P/E Exit 130.06 TWD 201.13 TWD 276.23 TWD 38
10Y Revenue Exit 116.98 TWD 179.23 TWD 264.51 TWD 36
10Y EBITDA Exit 136.32 TWD 211.38 TWD 313.53 TWD 37
10Y P/E Exit 121.55 TWD 181.05 TWD 255.00 TWD 35
Earnings-Based
Graham-Dodd 59.35 TWD 190.98 TWD 254.83 TWD 54
Lynch FV 42.40 TWD 60.57 TWD 78.74 TWD 50
PEG = 1.0 42.40 TWD 60.57 TWD 78.74 TWD 46
EPV 110.92 TWD 125.31 TWD 137.90 TWD 59
Dividend Discount
Gordon GGM 28.46 TWD 59.18 TWD 93.89 TWD 70
DDM Multi-Stage 28.46 TWD 47.78 TWD 62.11 TWD 61
Multiples
P/E Multiple 130.91 TWD 174.55 TWD 218.19 TWD 63
P/S Multiple 111.27 TWD 148.37 TWD 185.46 TWD 58
P/B Multiple 111.27 TWD 148.37 TWD 185.46 TWD 55
EV/EBIT 212.04 TWD 274.52 TWD 337.01 TWD 53
EV/EBITDA 195.12 TWD 251.96 TWD 308.80 TWD 54
EV/Revenue 144.56 TWD 195.97 TWD 247.38 TWD 43
Asset-Based
NCAV (Graham) 27.60 TWD 36.98 TWD 55.20 TWD 50
Growth DCF
Growth DCF 109.98 TWD 152.40 TWD 213.60 TWD 80
Rev-Margin DCF 128.67 TWD 197.77 TWD 277.61 TWD 74
Economic Profit
Residual Income 57.71 TWD 74.98 TWD 204.29 TWD 76
ROIC Compounder 116.92 TWD 140.10 TWD 166.09 TWD 72
Growth Earnings
Growth-Adj P/E 110.12 TWD 157.31 TWD 204.51 TWD 68

Widest divergence: DCF Models (181.05 TWD) versus Asset-Based (36.98 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 11.5B TWD
Revenue growth (YoY) +9.3%
Net margin 12.4%
Return on equity 14.5%
Free cash flow 1.2B TWD FY2025
P/E ratio 42.6
More key figures
Operating margin 18.7%
EPS (TTM) 8.72 TWD
Dividend yield 1.0%
EPS growth (YoY) -4.8%
Net cash 2.3B TWD FY2025

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 64 · Market factors (momentum, volatility) 62

Profitability 50
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 9
Calm price path (market factor)
Momentum 92
Price trend over the last 3–12 months (market factor)
52W Momentum 69
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

Lelon Electronics Corp., together with its subsidiaries, develops, manufactures, markets, trades in, and sells electrolytic capacitors internationally.

Full company description

Lelon Electronics Corp., together with its subsidiaries, develops, manufactures, markets, trades in, and sells electrolytic capacitors internationally. Its electrolytic capacitors include aluminum electrolytic capacitors, such as radial type, SMD, snap-in terminal, screw terminal, and axial; organic conductive polymer capacitors; conductive polymer hybrid capacitors; and flame retardants. The company produces and sells formed aluminum foils and automatic manufacturing equipment. Its products are used in various applications, including automotive electronics, telecommunication, cloud computing, and power electronics. The company was incorporated in 1976 and is headquartered in Taichung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lelon Electronics Corp reported revenue of 11.3B TWD in FY2025 versus 10.0B TWD in FY2021, a compound +3.2%/yr. Reported net income was 1.4B TWD in FY2025, compounding −0.6%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
11.3B TWD
Latest YoY
+7.7%
Avg. growth/yr (3Y)
+3.0%
Avg. growth/yr (5Y)
+7.6%
Avg. growth/yr (23Y)
+7.1%
Revenue +3.2%/yr
FY21 10.0B TWD
FY22 10.3B TWD
FY23 9.0B TWD
FY24 10.5B TWD
FY25 11.3B TWD
Net income −0.6%/yr
FY21 1.5B TWD
FY22 1.7B TWD
FY23 922M TWD
FY24 1.2B TWD
FY25 1.4B TWD

2472 screens 24% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Lelon Electronics Corp Fair Value". https://www.fairvalue-calculator.com/stock/2472

Peer Group

Electronic Components · 626 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 65 · Top 25%
Fair Value upside −24% · Above median
Return on equity (TTM) 14% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 9% · Above median
Dividend yield (TTM) 1.2% · Below median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 30.5× · Cheaper than median
P/B 4.81× · Pricier than 75% of peers
P/S (TTM) 3.79× · Pricier than median
P/FCF 1.1× · Cheaper than median
EV/EBITDA 13.5× · Cheaper 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 1 · sector 0
FUTURE 47 · sector 32
PAST 58 · sector 24
HEALTH 98 · sector 95
DIVIDEND 24 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Lelon Electronics Corp (2472) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 174.55 TWD versus a price of 229.50 TWD, about −24% (overvalued).
What is the fair value of 2472?
Our model-based fair value for Lelon Electronics Corp is 174.55 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 229.50 TWD.
What is the quality score of 2472?
Lelon Electronics Corp has a Quality Score of 65/100. 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 Lelon Electronics Corp (2472)?
Lelon Electronics Corp reported trailing-twelve-month revenue of about 11.5B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2472?
The net profit margin of Lelon Electronics Corp is about 12.4%, meaning it keeps roughly 12.4% of revenue as net income. Based on the latest reported figures.
Does Lelon Electronics Corp pay a dividend?
Lelon Electronics Corp currently shows a dividend yield of about 1.00% 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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