Sai MicroElectronics Inc (300456) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Sai MicroElectronics Inc ¥32.99, price ¥38.42, upside -14.1%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 ¥12.22 – ¥65.15 · fair‑value band ¥24.74 – ¥49.90 · the ¥38.42 price screens above the ¥32.99 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Sai MicroElectronics Inc. engages in the development and sale of micro-electromechanical systems products in China and internationally. It is also involved in the provision of wafer manufacturing services; and sale of semiconductor equipment.
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Sai MicroElectronics Inc. engages in the development and sale of micro-electromechanical systems products in China and internationally. It is also involved in the provision of wafer manufacturing services; and sale of semiconductor equipment. It serves the manufacturers of DNA/RNA sequencing machines, lithography machines, silicon photons, AI computing, ICT, infrared thermal imaging, computer networks and systems, metaverse, and medical equipment; and enterprises in various sub industries, as well as communications, biomedical, industrial automobile, consumer electronics, and other fields. Sai MicroElectronics Inc. was founded in 2008 and is headquartered in Beijing, China.
Stock analysis
Sai MicroElectronics Inc (300456) currently trades at ¥38.42, while our model-based Fair Value estimate is ¥32.99, implying the stock looks roughly 16.5% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥41.51 per share, and 3 of the 12 models we run sit above the ¥38.42 price.
Bear case: the Asset-Based group reads lowest at ¥6.16, and 9 of the 12 models stay below the price. Evidence for this calculation is medium.
Scenario range: ¥24.74 (bear) to ¥49.90 (bull), the price of ¥38.42 sits inside 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 48/100 (below-average quality), in the Technology sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Sai MicroElectronics Inc reported revenue of 824M CNY in FY2025 versus 929M CNY in FY2021, a compound −2.9%/yr. Reported net income was 1.5B CNY in FY2025, compounding +63.6%/yr from FY2021.
Key figures
Market cap 28.1B CNY (≈ $4.2B) · P/E ratio 19.8 · P/S ratio 35.4 · EPS (TTM) ¥1.94 · Dividend yield 1.0% · Net margin 216% · Return on equity 21.7% · Return on assets (EBIT) −2.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 75% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at −14%, 300456 screens cheaper than that median.
Fair Value models
Bear ¥24.74Fair Value ¥32.99Bull ¥49.90
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥1.15 per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.32/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−31.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+1.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+1.5%
Start year 2020 (pandemic). Over 10 years: +17.0% a year
Revenue growth 14 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+15.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+46.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+45.4%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.45% vs 33%, picking up
Profit margin 2018 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.18% → −96%
Compare Sai MicroElectronics Inc with another stock
Price, fair value, quality and upside side by side.
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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.Semiconductors · 340 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−14% · Above median
Profitability
Return on equity (TTM)22% · Top 25%
Return on assets−7% · Bottom 25%
Net margin (TTM)179% · Top 25%
Operating margin (TTM)−119% · Bottom 25%
Growth and dividend
Revenue growth−63% · Bottom 25%
Dividend yield (TTM)1.0% · Below median
Balance sheet
Debt / equity0.11× · Above median
Valuation Multiplesvs Semiconductors median · lower = cheaper
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Is Sai MicroElectronics Inc (300456) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥32.99 versus a price of ¥38.42, about −14% upside (overvalued).
What is the fair value of 300456?
Our model-based fair value for Sai MicroElectronics Inc is ¥32.99 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥38.42.
What is the quality score of 300456?
Sai MicroElectronics Inc has a Quality Score of 48/100. 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 price target for Sai MicroElectronics Inc (300456)?
Our model-based price target is the fair value of ¥32.99 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario ¥24.74, optimistic scenario ¥49.90. It is a calculation from audited fundamentals, not an analyst target.
What is the Sai MicroElectronics Inc stock forecast for 2026?
Our models put fair value at ¥32.99, about −14% upside versus a price of ¥38.42 (overvalued). Cautious scenario ¥24.74, optimistic scenario ¥49.90. The calculation is refreshed regularly with new filings.
What is the revenue of Sai MicroElectronics Inc (300456)?
Sai MicroElectronics Inc reported trailing-twelve-month revenue of about 659M CNY (latest available figure, as of Sep 24, 2026).
Does Sai MicroElectronics Inc pay a dividend?
Sai MicroElectronics Inc currently shows a dividend yield of about 0.96% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Sai MicroElectronics Inc (300456)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sai MicroElectronics Inc it is ¥32.99 per share (as of Sep 24, 2026), against a price of ¥38.42. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Sai MicroElectronics Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 300456 trades above its calculated fair value: price ¥38.42, fair value ¥32.99, a gap of about −14% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 300456?
No. The price is what the market pays today (¥38.42); the fair value is what the company's own numbers justify (¥32.99). For Sai MicroElectronics Inc the two are ¥5.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sai MicroElectronics Inc worth?
The market values Sai MicroElectronics Inc at about 28.1B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥38.42; our models calculate a fair value of ¥32.99 per share.
What do the bullish and bearish scenarios say about 300456?
Our models span a range for Sai MicroElectronics Inc: cautious scenario ¥24.74, base ¥32.99, optimistic ¥49.90 per share (as of Sep 24, 2026, price ¥38.42). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300456?
Sai MicroElectronics Inc trades at a price-to-earnings ratio of 19.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥32.99 is built from several models across several years. Other multiples: P/B 4.2, P/S 42.7.
How solid is the balance sheet of Sai MicroElectronics Inc (300456)?
Balance-sheet figures for Sai MicroElectronics Inc (as of Sep 24, 2026): return on equity 21.7%, debt of 0.11 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 300456 from its 52-week high?
Sai MicroElectronics Inc trades at ¥38.42, about 41% below its 52-week high of ¥65.15 and 75% above the low of ¥21.96 (as of Sep 22, 2026). Distance from the high says nothing about value: that is what the fair value of ¥32.99 is for.
Which stocks are comparable to Sai MicroElectronics Inc?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Sai MicroElectronics Inc stock attractive at the current price?
The data as of Sep 24, 2026: price ¥38.42, calculated fair value ¥32.99 (−14%), Quality Score 48/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 300456 calculated?
We run Sai MicroElectronics Inc through 12 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥32.99, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Sai MicroElectronics Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Sai MicroElectronics Inc (300456)?
The closing price on Sep 22, 2026 was ¥38.42. Our model-based fair value is ¥32.99, about −14% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sai MicroElectronics Inc right now?
Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥24.74 to ¥49.90) leaves room in how you read the outcome.
Key figures of Sai MicroElectronics Inc
How large is the market capitalisation of Sai MicroElectronics Inc (300456)?
The market capitalisation of Sai MicroElectronics Inc is 28.1B CNY (≈ $4.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Sai MicroElectronics Inc (300456)?
The price-to-sales ratio of Sai MicroElectronics Inc is 35.4 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sai MicroElectronics Inc (300456)?
Earnings per share at Sai MicroElectronics Inc are ¥1.94 (price ÷ EPS = P/E 19.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sai MicroElectronics Inc (300456)?
The dividend yield of Sai MicroElectronics Inc is 1.0% (payout 19.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Sai MicroElectronics Inc (300456)?
The net margin of Sai MicroElectronics Inc is 216% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Sai MicroElectronics Inc (300456)?
The return on equity (ROE) of Sai MicroElectronics Inc is 21.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Sai MicroElectronics Inc (300456)?
On an EBIT basis the return on assets of Sai MicroElectronics Inc is −2.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Sai MicroElectronics Inc (300456)?
The operating margin of Sai MicroElectronics Inc is −119% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sai MicroElectronics Inc (300456)?
Revenue at Sai MicroElectronics Inc is growing −62.7% versus a year earlier (3y avg +1.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Sai MicroElectronics Inc (300456)?
Earnings per share at Sai MicroElectronics Inc are growing −35.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Sai MicroElectronics Inc (300456) generate?
The free cash flow of Sai MicroElectronics Inc is −112M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Sai MicroElectronics Inc (300456) hold?
Sai MicroElectronics Inc holds more cash than debt, 799M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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