Aerospace Industrial Development Corp (2634) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Aerospace Industrial Development Corp TWD 22.64, price TWD 63.10, upside -64.1%, quality 39 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Aerospace Industrial Development Corp
2634 · TWWeakest SetupStrongly overvalued and low quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 24.70 TWD – 73.30 TWD · fair‑value band 16.91 TWD – 28.20 TWD · the 63.10 TWD price screens above the 22.64 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Aerospace Industrial Development Corporation engages in the manufacturing and maintenance of airplanes and its parts and component in Taiwan. It provides military aircrafts and helicopters, commercial aviation, and aero/industrial engines.
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Aerospace Industrial Development Corporation engages in the manufacturing and maintenance of airplanes and its parts and component in Taiwan. It provides military aircrafts and helicopters, commercial aviation, and aero/industrial engines. It also engages in the manufacturing maintenance and upgradation of drones, military aircrafts, and air fleets; production of military hardware, as well as military aircraft engines; design and OEM production of airframe structure and sub-assembly parts; and design, processing, and OEM production of international commercial aircraft engines and parts and components. In addition, it offers aviation service, research and design application, design, manufacturing, testing, system integration, and after-sales services. Further, the company provides aircraft maintenance services, including flight line operations, intermediate, and depot level maintenance; aircraft instrument and electronics repair; aircraft accessories and harness maintenance; avionics repair/overhaul; avionics manufacturing; and logistic support services. Additionally, it provides flight testing of new aviation platforms, verification of airborne systems, and flight data collection and analysis; live-fire training for air-to-air and surface-to-air weapons, aerial target towing, and remote-controlled target drones; emergency medical and business jet services, atmospheric research and typhoon monitoring, and hangar space for business clients, as well as information services; and engages in railway, space, and energy businesses. It serves military, commercial aviation, and industrial technology service industries. The company was formerly known as Aero Industry Development Center. Aerospace Industrial Development Corporation was founded in 1969 and is headquartered in Taichung, Taiwan.
Stock analysis
Aerospace Industrial Development Corp (2634) currently trades at 63.10 TWD, while our model-based Fair Value estimate is 22.64 TWD, implying the stock looks roughly 178.7% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 15.26 TWD per share, and 0 of the 14 models we run sit above the 63.10 TWD price.
Bear case: the Earnings-Based group reads lowest at 6.36 TWD, and 14 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: 16.91 TWD (bear) to 28.20 TWD (bull), the price of 63.10 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 39/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Aerospace Industrial Development Corp reported revenue of 35.5B TWD in FY2025 versus 23.7B TWD in FY2021, a compound +10.6%/yr. Reported net income was 733M TWD in FY2025, compounding +7.1%/yr from FY2021.
Key figures
Market cap 58.0B TWD (≈ $1.8B) · P/E ratio 80.9 · P/S ratio 1.67 · EPS (TTM) 0.7800 TWD · Dividend yield 1.2% · Net margin 2.1% · Return on equity 4.1% · Return on assets (EBIT) 3.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
The share trades about 14% below its 52-week high and 40% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at −64%, 2634 screens richer than that median.
Fair Value models
All 14 models by family
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Set up alert →Quality Score breakdown
Of which business quality 36 · Market factors (momentum, volatility) 61
Revenue & earnings trend
2634 screens 179% overvalued. Compare with General Electric Company →
Compare Aerospace Industrial Development Corp with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Aerospace & Defense · 228 stocks
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: Taiwanese Stocks
- Valuation of the Taiwan market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $319.22 | $92.68 | −71% |
| RTX Corporation RTX | $190.99 | $88.37 | −54% |
| Airbus SE AIR | €194.60 | €112.75 | −42% |
| Safran SA SAF | €332.00 | €365.20 | +10% |
| Lockheed Martin Corporation LMT | $522.34 | $440.05 | −16% |
| Howmet Aerospace Inc HWM | $225.36 | $52.47 | −77% |
| General Dynamics Corporation GD | $343.39 | $274.32 | −20% |
| Northrop Grumman Corporation NOC | $509.86 | $383.06 | −25% |
| TransDigm Group TDG | $1,112 | $1,224 | +10% |
| L3Harris Technologies, Inc LHX | $239.89 | $263.88 | +10% |
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