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AmTRAN Technology Co (2489) Fair Value & Analysis

Technology · TW · Market cap 18.7B TWD

AT AmTRAN Technology Co 2489 · TW
Price30.85 TWD
Fair Value17.40 TWD
Upside-43.6%
Quality54/100
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Expensive Growth
Thin margins · 2.6% net margin
Low debt · negative free cash flow
3.73% dividend yield
Ranks above peers (8/13)
Narrow moat 29/100
Evidence: High Range 15.09 TWD – 17.40 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 17.42 TWD to 17.40 TWD (−0.1%) since Jul 7, 2026. Share price −20.2% over the past month.

A solid business, but screening 44% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (17.40 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

55.06 TWD 1.15 TWD Fair Value 17.40 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 1.15 TWD – 55.06 TWD · fair‑value band 15.09 TWD – 17.40 TWD · the 30.85 TWD price screens above the 17.40 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

AmTRAN Technology Co (2489) currently trades at 30.85 TWD, while our model-based Fair Value estimate is 17.40 TWD, implying the stock looks roughly 43.6% overvalued today. The Quality Score stands at 54/100 (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, AmTRAN Technology Co generated revenue of 25.2B TWD at a net margin of 2.6%. Revenue grew 9.3% year over year. It earns a return on equity of 5.0%. The balance sheet holds a net cash position of 3.5B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 15.09 TWD (bear case) to 17.40 TWD (bull case); at 30.85 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 47% below its 52-week high and 311% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -16% fair-value upside, at -44%, 2489 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 BearBaseBull Evidence
Highest evidence
Residual Income 17.28 TWD 17.83 TWD 18.02 TWD 76
ROIC Compounder 10.14 TWD 10.71 TWD 11.21 TWD 72
Gordon GGM 4.59 TWD 5.89 TWD 7.22 TWD 70
All 15 models by family
DCF Models
Owner Earnings 19.83 TWD 24.58 TWD 33.33 TWD 31
Earnings-Based
Graham-Dodd 8.82 TWD 15.48 TWD 19.00 TWD 54
EPV 10.14 TWD 10.71 TWD 11.21 TWD 59
Dividend Discount
Gordon GGM 4.59 TWD 5.89 TWD 7.22 TWD 70
DDM Multi-Stage 4.59 TWD 6.23 TWD 8.22 TWD 61
Multiples
P/E Multiple 21.41 TWD 28.55 TWD 35.69 TWD 63
P/S Multiple 16.55 TWD 22.06 TWD 27.58 TWD 58
P/B Multiple 16.55 TWD 22.06 TWD 27.58 TWD 55
EV/EBIT 16.39 TWD 19.62 TWD 22.84 TWD 53
EV/EBITDA 20.53 TWD 25.14 TWD 29.75 TWD 54
EV/Revenue 13.23 TWD 16.03 TWD 18.83 TWD 43
Asset-Based
NCAV (Graham) 10.96 TWD 14.69 TWD 21.93 TWD 50
Economic Profit
Residual Income 17.28 TWD 17.83 TWD 18.02 TWD 76
ROIC Compounder 10.14 TWD 10.71 TWD 11.21 TWD 72
Growth Earnings
Growth-Adj P/E 15.09 TWD 21.56 TWD 28.03 TWD 68

Widest divergence: DCF Models (24.58 TWD) versus Dividend Discount (5.89 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 25.2B TWD
Revenue growth (YoY) +9.3%
Net margin 2.6%
Return on equity 5.0%
Free cash flow −237M TWD FY2025
P/E ratio 25.3
More key figures
Operating margin 1.1%
EPS (TTM) 1.21 TWD
Dividend yield 3.7%
EPS growth (YoY) -53.3%
Net cash 3.5B TWD FY2025

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 53 · Market factors (momentum, volatility) 57

Profitability 40
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 21
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 65
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

AmTRAN Technology Co.,Ltd engages in the design, manufacture, and sale of monitors, computers, and computer peripherals in Taiwan, the United State, China, and internationally. The company offers display products; audio visual products; conference equipment; collaboration computer peripherals; and smart products.

Full company description

AmTRAN Technology Co.,Ltd engages in the design, manufacture, and sale of monitors, computers, and computer peripherals in Taiwan, the United State, China, and internationally. The company offers display products; audio visual products; conference equipment; collaboration computer peripherals; and smart products. AmTRAN Technology Co.,Ltd was incorporated in 1994 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AmTRAN Technology Co reported revenue of 24.7B TWD in FY2025 versus 22.2B TWD in FY2021, a compound +2.6%/yr. Reported net income was 792M TWD in FY2025, compounding −37.0%/yr from FY2021.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
24.7B TWD
Latest YoY
+6.1%
Avg. growth/yr (3Y)
+14.7%
Avg. growth/yr (5Y)
+8.0%
Avg. growth/yr (23Y)
+2.7%
Revenue +2.6%/yr
FY21 22.2B TWD
FY22 16.4B TWD
FY23 16.6B TWD
FY24 23.2B TWD
FY25 24.7B TWD
Net income −37.0%/yr
FY21 5.0B TWD
FY22 −2.8B TWD
FY23 446M TWD
FY24 1.3B TWD
FY25 792M TWD

2489 screens 44% overvalued. Compare with Apple Inc →

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Cite: Fair Value Calculator (2026). "AmTRAN Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/2489

Peer Group

Consumer Electronics · 129 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 54 · Above median
Fair Value upside −44% · Below median
Return on equity (TTM) 5% · Above median
Return on assets 1% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth 9% · Above median
Dividend yield (TTM) 3.7% · Top 25%

Valuation Multiples vs Consumer Electronics median · lower = cheaper

P/E (TTM) 25.3× · Pricier than median
P/B 1.40× · Cheaper than median
P/S (TTM) 0.74× · Pricier than median
EV/EBITDA 16.2× · 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 0 · sector 8
FUTURE 47 · sector 13
PAST 20 · sector 10
HEALTH 100 · sector 97
DIVIDEND 75 · sector 29

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

Stock Price Fair Value vs Fair Value
Apple Inc AAPL $313.33 $122.91 -61%
Samsung Electronics Co 005930 255,000 KRW 138,019 KRW -46%
Sony Group SONYN 366.00 MXN 468.94 MXN +28%
Xiaomi Corporation 1810 HK$26.88 HK$39.84 +48%
LG Electronics Inc 066570 179,000 KRW 101,531 KRW -43%
Sharetronic Data Technology Co 300857 ¥277.96 ¥35.89 -87%
Huaqin Co 603296 ¥78.20 ¥65.69 -16%
Goertek Inc 002241 ¥22.25 ¥18.86 -15%
LG Corp 003550 102,400 KRW 93,881 KRW -8%
Anker Innovations Limited 300866 ¥105.92 ¥78.52 -26%

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Frequently asked questions

Is AmTRAN Technology Co (2489) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 17.40 TWD versus a price of 30.85 TWD, about −44% (overvalued).
What is the fair value of 2489?
Our model-based fair value for AmTRAN Technology Co is 17.40 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 30.85 TWD.
What is the quality score of 2489?
AmTRAN Technology Co has a Quality Score of 54/100. 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 AmTRAN Technology Co (2489)?
AmTRAN Technology Co reported trailing-twelve-month revenue of about 25.2B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2489?
The net profit margin of AmTRAN Technology Co is about 2.6%, meaning it keeps roughly 2.6% of revenue as net income. Based on the latest reported figures.
Does AmTRAN Technology Co pay a dividend?
AmTRAN Technology Co currently shows a dividend yield of about 2.93% 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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