Asia Optical Co (3019) Fair Value & Analysis
Technology · TW · Market cap 38.8B TWD
Fair value as of: Jul 23, 2026
From 22 valuation models · updated 18 days ago
Share price −10.7% over the past month.
A solid business, but screening 13% overvalued on our models.
What matters now
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
- Our model range runs from 84.16 TWD (bear) to 140.27 TWD (bull), base 112.21 TWD. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 52/100 (solid quality) with medium evidence: read the verdict with care.
Price vs Fair Value (5 years)
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 46.64 TWD – 197.34 TWD · fair‑value band 84.16 TWD – 140.27 TWD · the 129.50 TWD price screens above the 112.21 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Asia Optical Co (3019) currently trades at 129.50 TWD, while our model-based Fair Value estimate is 112.21 TWD, implying the stock looks roughly 13.4% overvalued today. The Quality Score stands at 52/100 (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, Asia Optical Co generated revenue of 27.2B TWD at a net margin of 7.0%. Revenue grew 14.8% year over year. It earns a return on equity of 13.2%. The balance sheet holds a net cash position of 12.1B TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 84.16 TWD (bear case) to 140.27 TWD (bull case); at 129.50 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 28% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -13%, 3019 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.
All 22 models by family
Widest divergence: Multiples (132.01 TWD) versus Asset-Based (35.69 TWD). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 41
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
Asia Optical Co., Inc. manufactures, processes, and sells cameras, riflescopes, photocopier lens, scanner lens and optical components in Taiwan and internationally.
Full company description
Asia Optical Co., Inc. manufactures, processes, and sells cameras, riflescopes, photocopier lens, scanner lens and optical components in Taiwan and internationally. The company offers optical components, such as injection molded plastic lens, precision glass molding of aspherical lens, precision coating components, glass spherical, and prism/flat glass lens; compact, DSC, projector, and mobile phone lens; AR and MR products; optical communication products; compact lidar module; sports optics, comprising laser range finder and riflescope; and automotive lens. It also provides tooling business division; plastic injection molding; precision stamping division; surface treatment division; pouch case and bags division, as well as crosszone and headphone, non-invasive vascular screening device, DSC, and SMT equipment. In addition, the company offers fiber optics business, imaging products, laser related products, tooling fabrication, IC packaging products, glass materials, plating and surface treatment, and optical products and components. Further, it trades in optical components, image sensors and electronic components, as well as designs, manufactures, and sells mobile consumer electronics products. Additionally, the company offers precision metal and plastic parts for small motors; manufactures and sells DSC, DVD players, DVD pickup heads, and parts; and manufactures, processes, and exports cameras, telescopes, video cameras, copiers, fax machines, optical sights, optical lenses for CD players and related components, and optical lens assemblies. Asia Optical Co., Inc. was founded in 1980 and is headquartered in Taichung, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Asia Optical Co reported revenue of 26.4B TWD in FY2025 versus 21.0B TWD in FY2021, a compound +6.0%/yr. Reported net income was 1.8B TWD in FY2025, compounding +5.3%/yr from FY2021.
3019 screens 13% overvalued. Compare with Delta Electronics, Inc →
Peer Group
Electronic Components · 626 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.
Valuation Multiples vs Electronic Components median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Delta Electronics, Inc 2308 | 1,880 TWD | 515.23 TWD | -73% |
| Hon Hai Precision Industry Co 2317 | 242.50 TWD | 270.47 TWD | +12% |
| Luxshare Precision Industry Co 002475 | ¥62.14 | ¥38.44 | -38% |
| Samsung Electro-Mechanics Co 009150 | 1,260,000 KRW | 166,421 KRW | -87% |
| Elite Material Co 2383 | 4,990 TWD | 714.36 TWD | -86% |
| Yageo Corporation 2327 | 699.00 TWD | 216.55 TWD | -69% |
| Shengyi Technology Co 600183 | ¥132.29 | ¥27.45 | -79% |
| Shennan Circuits Co 002916 | ¥364.00 | ¥93.50 | -74% |
| Victory Giant Technology (HuiZhou) Co 2476 | HK$297.00 | HK$103.98 | -65% |
| Wus Printed Circuit (Kunshan) Co 002463 | ¥127.80 | ¥31.95 | -75% |
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Frequently asked questions
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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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