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Wah Lee Industrial Corporation (3010) Fair Value & Analysis

Technology · TW · Market cap 29.2B TWD

WL Wah Lee Industrial Corporation 3010 · TW
Price120.50 TWD
Fair Value127.76 TWD
Upside+6.0%
Quality47/100
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Mixed Growth
Thin margins · 3.0% net margin
Low debt · generates free cash flow
4.69% dividend yield
Ranks above peers (11/14)
Narrow moat 36/100
Evidence: Medium Range 95.81 TWD – 162.68 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Share price −1.6% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 95.81 TWD (bear) to 162.68 TWD (bull), base 127.76 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 47/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

154.50 TWD 58.77 TWD Fair Value 127.76 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 58.77 TWD – 154.50 TWD · fair‑value band 95.81 TWD – 162.68 TWD · the 120.50 TWD price screens below the 127.76 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Wah Lee Industrial Corporation (3010) currently trades at 120.50 TWD, while our model-based Fair Value estimate is 127.76 TWD, implying the stock looks roughly 6.0% fairly valued today. The Quality Score stands at 47/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Wah Lee Industrial Corporation generated revenue of 81.4B TWD at a net margin of 3.0%. Revenue grew 17.4% year over year. It earns a return on equity of 11.1%. Net debt stands at 8.6B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 95.81 TWD (bear case) to 162.68 TWD (bull case); at 120.50 TWD, the current price sits within 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 20% below its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -33% fair-value upside, at 6%, 3010 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 241.23 TWD 383.73 TWD 609.65 TWD 80
Residual Income 80.48 TWD 88.72 TWD 124.23 TWD 76
Rev-Margin DCF 156.61 TWD 233.65 TWD 326.40 TWD 74
All 26 models by family
DCF Models
FCF DCF 238.98 TWD 383.99 TWD 614.48 TWD 38
Owner Earnings 96.37 TWD 151.49 TWD 239.11 TWD 31
5Y Revenue Exit 156.61 TWD 232.07 TWD 327.44 TWD 39
5Y EBITDA Exit 167.07 TWD 252.24 TWD 351.54 TWD 41
5Y P/E Exit 165.82 TWD 249.83 TWD 338.80 TWD 38
10Y Revenue Exit 180.24 TWD 257.75 TWD 361.77 TWD 36
10Y EBITDA Exit 190.44 TWD 271.98 TWD 380.69 TWD 37
10Y P/E Exit 189.63 TWD 270.28 TWD 370.69 TWD 35
Earnings-Based
Graham-Dodd 60.12 TWD 215.08 TWD 289.75 TWD 54
Lynch FV 50.69 TWD 72.41 TWD 94.13 TWD 50
PEG = 1.0 50.69 TWD 72.41 TWD 94.13 TWD 46
EPV 92.07 TWD 105.93 TWD 118.06 TWD 59
Dividend Discount
Gordon GGM 48.66 TWD 101.18 TWD 160.51 TWD 70
DDM Multi-Stage 48.66 TWD 85.32 TWD 106.19 TWD 61
Multiples
P/E Multiple 132.62 TWD 176.82 TWD 221.03 TWD 63
P/S Multiple 112.72 TWD 150.30 TWD 187.87 TWD 58
P/B Multiple 112.72 TWD 150.30 TWD 187.87 TWD 55
EV/EBIT 171.06 TWD 225.11 TWD 279.17 TWD 53
EV/EBITDA 143.63 TWD 188.54 TWD 233.45 TWD 54
EV/Revenue 118.21 TWD 165.06 TWD 211.90 TWD 43
Asset-Based
NCAV (Graham) 46.02 TWD 61.66 TWD 92.04 TWD 50
Growth DCF
Growth DCF 241.23 TWD 383.73 TWD 609.65 TWD 80
Rev-Margin DCF 156.61 TWD 233.65 TWD 326.40 TWD 74
Economic Profit
Residual Income 80.48 TWD 88.72 TWD 124.23 TWD 76
ROIC Compounder 92.08 TWD 116.49 TWD 150.52 TWD 72
Growth Earnings
Growth-Adj P/E 94.11 TWD 134.45 TWD 174.78 TWD 68

Widest divergence: DCF Models (252.24 TWD) versus Asset-Based (61.66 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 81.4B TWD
Revenue growth (YoY) +17.4%
Net margin 3.0%
Return on equity 11.1%
Free cash flow 5.1B TWD FY2025
P/E ratio 12.9
More key figures
Operating margin 3.8%
EPS (TTM) 8.73 TWD
Dividend yield 4.7%
EPS growth (YoY) +27.6%
Net debt 8.6B TWD FY2025

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

Quality Score breakdown

Overall quality 47/100

Of which business quality 50 · Market factors (momentum, volatility) 59

Profitability 45
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 56
Distance to the 52-week high (market factor)
Net Issuance 20
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

Wah Lee Industrial Corporation engages in the manufacturing of materials, engineering and functional plastics, semiconductor process materials, and printed circuit boards in Taiwan. The company imports and exports various products, such as engineering equipment, optoelectronic products, electronic machine parts, and industrial materials.

Full company description

Wah Lee Industrial Corporation engages in the manufacturing of materials, engineering and functional plastics, semiconductor process materials, and printed circuit boards in Taiwan. The company imports and exports various products, such as engineering equipment, optoelectronic products, electronic machine parts, and industrial materials. It also engages in the engineering of plastic raw materials and high performance composite materials; manufacturing of synthetic resins, industrial plastics, mold machinery and equipment, and chemical materials; and solar power generation businesses. The company was founded in 1968 and is headquartered in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wah Lee Industrial Corporation reported revenue of 78.2B TWD in FY2025 versus 70.5B TWD in FY2021, a compound +2.6%/yr. Reported net income was 2.3B TWD in FY2025, compounding −5.2%/yr from FY2021.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
78.2B TWD
Latest YoY
−2.3%
Avg. growth/yr (3Y)
+2.1%
Avg. growth/yr (5Y)
+5.8%
Avg. growth/yr (23Y)
+8.1%
Revenue +2.6%/yr
FY21 70.5B TWD
FY22 73.6B TWD
FY23 66.8B TWD
FY24 80.0B TWD
FY25 78.2B TWD
Net income −5.2%/yr
FY21 2.8B TWD
FY22 2.5B TWD
FY23 2.1B TWD
FY24 2.3B TWD
FY25 2.3B TWD

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Cite: Fair Value Calculator (2026). "Wah Lee Industrial Corporation Fair Value". https://www.fairvalue-calculator.com/stock/3010

Peer Group

Electronics & Computer Distribution · 151 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 47 · Below median
Fair Value upside +6% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 4% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 4% · Above median
Revenue growth 17% · Above median
Dividend yield (TTM) 4.7% · Top 25%
Debt / equity 0.23× · Higher than 75% of peers

Valuation Multiples vs Electronics & Computer Distribution median · lower = cheaper

P/E (TTM) 12.9× · Cheaper than median
P/B 1.22× · Cheaper than median
P/S (TTM) 0.36× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 7.1× · 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 41 · sector 14
FUTURE 87 · sector 57
PAST 45 · sector 36
HEALTH 88 · sector 98
DIVIDEND 94 · sector 39

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

Stock Price Fair Value vs Fair Value
TD SYNNEX Corporation SNX $251.52 $207.02 -18%
Unisplendour Corporation 000938 ¥38.59 ¥11.79 -69%
Rexel S.A RXL €38.59 €33.31 -14%
Arrow Electronics, Inc ARW $204.10 $115.40 -43%
Avnet, Inc AVT $87.13 $58.57 -33%
WPG Holdings 3702 106.50 TWD 102.31 TWD -4%
Shenzhen Huaqiang Industry Co 000062 ¥22.37 ¥7.52 -66%
Synnex Technology International Corporation 2347 85.30 TWD 86.30 TWD +1%
Nanjing Sunlord Electronics Corporation 300975 ¥37.37 ¥8.60 -77%
Beijing Tricolor Technology Co 603516 ¥106.52 ¥23.39 -78%

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Frequently asked questions

Is Wah Lee Industrial Corporation (3010) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 127.76 TWD versus a price of 120.50 TWD, about +6% (fairly valued).
What is the fair value of 3010?
Our model-based fair value for Wah Lee Industrial Corporation is 127.76 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 120.50 TWD.
What is the quality score of 3010?
Wah Lee Industrial Corporation has a Quality Score of 47/100. 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 Wah Lee Industrial Corporation (3010)?
Wah Lee Industrial Corporation reported trailing-twelve-month revenue of about 81.4B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3010?
The net profit margin of Wah Lee Industrial Corporation is about 3.0%, meaning it keeps roughly 3.0% of revenue as net income. Based on the latest reported figures.
Does Wah Lee Industrial Corporation pay a dividend?
Wah Lee Industrial Corporation currently shows a dividend yield of about 4.69% 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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