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PANJIT International Inc (2481) Fair Value & Analysis

Technology · TW · Market cap 60.2B TWD

PI PANJIT International Inc 2481 · TW
Price133.00 TWD
Fair Value45.06 TWD
Upside-66.1%
Quality55/100
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Healthy Growth
Thin margins · 9.0% net margin
Low debt · generates free cash flow
1.25% dividend yield
Mixed vs. peers (6/15)
Narrow moat 41/100
Evidence: Medium Range 33.80 TWD – 56.33 TWD Share as image

Fair value as of: Jul 23, 2026

From 22 valuation models · updated 18 days ago

Share price −37.1% over the past month.

A solid business, but screening 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (56.33 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

227.50 TWD 33.22 TWD Fair Value 45.06 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 33.22 TWD – 227.50 TWD · fair‑value band 33.80 TWD – 56.33 TWD · the 133.00 TWD price screens above the 45.06 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

PANJIT International Inc (2481) currently trades at 133.00 TWD, while our model-based Fair Value estimate is 45.06 TWD, implying the stock looks roughly 66.1% overvalued today. The Quality Score stands at 55/100 (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, PANJIT International Inc generated revenue of 13.4B TWD at a net margin of 9.0%. Revenue grew 11.4% year over year. It earns a return on equity of 8.9%. Net debt stands at 7.5B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 33.80 TWD (bear case) to 56.33 TWD (bull case); at 133.00 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 about 23% below its 52-week high and 201% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -66%, 2481 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 54.17 TWD 75.28 TWD 113.44 TWD 80
Residual Income 32.09 TWD 34.49 TWD 40.22 TWD 76
Rev-Margin DCF 29.60 TWD 43.02 TWD 60.49 TWD 74
All 22 models by family
DCF Models
FCF DCF 51.65 TWD 73.23 TWD 115.80 TWD 38
Owner Earnings 38.36 TWD 55.16 TWD 88.28 TWD 31
5Y Revenue Exit 29.60 TWD 41.65 TWD 59.67 TWD 39
5Y EBITDA Exit 43.37 TWD 65.14 TWD 94.80 TWD 41
5Y P/E Exit 39.44 TWD 58.43 TWD 81.88 TWD 38
10Y Revenue Exit 36.95 TWD 48.08 TWD 59.95 TWD 36
10Y EBITDA Exit 46.09 TWD 63.27 TWD 82.02 TWD 37
10Y P/E Exit 43.68 TWD 58.93 TWD 73.90 TWD 35
Earnings-Based
Graham-Dodd 21.21 TWD 32.02 TWD 38.08 TWD 54
EPV 12.24 TWD 15.65 TWD 18.65 TWD 59
Multiples
P/E Multiple 46.78 TWD 62.37 TWD 77.96 TWD 63
P/S Multiple 39.76 TWD 53.01 TWD 66.27 TWD 58
P/B Multiple 39.76 TWD 53.01 TWD 66.27 TWD 55
EV/EBIT 30.98 TWD 44.07 TWD 57.16 TWD 53
EV/EBITDA 45.87 TWD 63.92 TWD 81.97 TWD 54
EV/Revenue 18.19 TWD 29.53 TWD 40.87 TWD 43
Asset-Based
NCAV (Graham) 19.20 TWD 25.73 TWD 38.40 TWD 50
Growth DCF
Growth DCF 54.17 TWD 75.28 TWD 113.44 TWD 80
Rev-Margin DCF 29.60 TWD 43.02 TWD 60.49 TWD 74
Economic Profit
Residual Income 32.09 TWD 34.49 TWD 40.22 TWD 76
ROIC Compounder 12.24 TWD 15.65 TWD 18.65 TWD 72
Growth Earnings
Growth-Adj P/E 33.09 TWD 47.28 TWD 61.46 TWD 68

Widest divergence: DCF Models (58.43 TWD) versus Earnings-Based (15.65 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 13.4B TWD
Revenue growth (YoY) +11.4%
Net margin 9.0%
Return on equity 8.9%
Free cash flow 2.3B TWD FY2025
P/E ratio 46.6
More key figures
Operating margin 6.5%
EPS (TTM) 3.11 TWD
Dividend yield 1.3%
EPS growth (YoY) +4.6%
Net debt 7.5B TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 55 · Market factors (momentum, volatility) 66

Profitability 34
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 17
Calm price path (market factor)
Momentum 94
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 15
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

PANJIT International Inc. manufactures, processes, assembles, imports, and exports semiconductors in Taiwan, Asia, the Americas, Europe, and internationally. It manufactures and sells wafers, power components, and control modules.

Full company description

PANJIT International Inc. manufactures, processes, assembles, imports, and exports semiconductors in Taiwan, Asia, the Americas, Europe, and internationally. It manufactures and sells wafers, power components, and control modules. The company also engages in the research and development, design, manufacture, and technology consultation of power IC, field effect transistors, and fast recovery diodes; and sale of solar electricity. In addition, it offers MOSFET and Schottky products, SiC devices, signal chain and motor control ICs, temperature sensors, IGBTs, diode rectifiers, protection devices, bipolar junction transistors, bridges, and package technology. Its products are used in automotive, power supply, industrial, computing, consumer, and communication applications. The company was incorporated in 1986 and is headquartered in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PANJIT International Inc reported revenue of 13.1B TWD in FY2025 versus 13.9B TWD in FY2021, a compound −1.4%/yr. Reported net income was 1.2B TWD in FY2025, compounding −11.3%/yr from FY2021.

Growth Quality 68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
13.1B TWD
Latest YoY
+4.4%
Avg. growth/yr (3Y)
−0.3%
Avg. growth/yr (5Y)
+4.5%
Avg. growth/yr (23Y)
+7.6%
Revenue −1.4%/yr
FY21 13.9B TWD
FY22 13.2B TWD
FY23 12.7B TWD
FY24 12.5B TWD
FY25 13.1B TWD
Net income −11.3%/yr
FY21 1.9B TWD
FY22 1.8B TWD
FY23 821M TWD
FY24 919M TWD
FY25 1.2B TWD

2481 screens 66% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "PANJIT International Inc Fair Value". https://www.fairvalue-calculator.com/stock/2481

Peer Group

Semiconductor Equipment & Materials · 211 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 55 · Below median
Fair Value upside −66% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 2% · Below median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 7% · Below median
Revenue growth 11% · Below median
Dividend yield (TTM) 1.3% · Above median
Debt / equity 0.36× · Higher than 75% of peers

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 50.2× · Cheaper than median
P/B 4.10× · Pricier than median
P/S (TTM) 4.48× · Pricier than median
P/FCF 0.8× · Cheaper than median
EV/EBITDA 32.2× · Pricier than median
PEG 0.41× · Cheaper 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 0
FUTURE 57 · sector 58
PAST 35 · sector 30
HEALTH 82 · sector 96
DIVIDEND 25 · sector 16

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is PANJIT International Inc (2481) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 45.06 TWD versus a price of 133.00 TWD, about −66% (overvalued).
What is the fair value of 2481?
Our model-based fair value for PANJIT International Inc is 45.06 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 133.00 TWD.
What is the quality score of 2481?
PANJIT International Inc has a Quality Score of 55/100. 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 PANJIT International Inc (2481)?
PANJIT International Inc reported trailing-twelve-month revenue of about 13.4B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 2481?
The net profit margin of PANJIT International Inc is about 9.0%, meaning it keeps roughly 9.0% of revenue as net income. Based on the latest reported figures.
Does PANJIT International Inc pay a dividend?
PANJIT International Inc currently shows a dividend yield of about 1.31% relative to its recent price (as of Jul 23, 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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