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Compucase Enterprise Co (3032) Fair Value & Analysis

Technology · TW · Market cap 8.6B TWD

CE Compucase Enterprise Co 3032 · TW
Price81.30 TWD
Fair Value97.59 TWD
Upside+20.0%
Quality43/100
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Mixed Growth
Loss-making · -8.3% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (7/12)
Narrow moat 27/100
Evidence: Medium Range 79.94 TWD – 136.94 TWD Share as image

Fair value as of: Jul 21, 2026

From 15 valuation models · updated 20 days ago

Share price −0.1% over the past month.

Below-average quality, screening 20% undervalued on our models.

What matters now

  • Our model range runs from 79.94 TWD (bear) to 136.94 TWD (bull), base 97.59 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 43/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

119.50 TWD 24.33 TWD Fair Value 97.59 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 24.33 TWD – 119.50 TWD · fair‑value band 79.94 TWD – 136.94 TWD · the 81.30 TWD price screens below the 97.59 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Compucase Enterprise Co (3032) currently trades at 81.30 TWD, while our model-based Fair Value estimate is 97.59 TWD, implying the stock looks roughly 20.0% undervalued today. The Quality Score stands at 43/100 (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, Compucase Enterprise Co generated revenue of 11.6B TWD at a net margin of -8.3%. Revenue grew 16.2% year over year. It earns a return on equity of -28.5%. Net debt stands at 6.8B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 79.94 TWD (bear case) to 136.94 TWD (bull case); at 81.30 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 34% below its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at 20%, 3032 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 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
Highest evidence
Growth DCF 75.89 TWD 101.52 TWD 137.68 TWD 80
Rev-Margin DCF 93.21 TWD 141.38 TWD 198.43 TWD 74
ROIC Compounder 75.89 TWD 83.99 TWD 90.99 TWD 72
All 15 models by family
DCF Models
FCF DCF 75.50 TWD 105.33 TWD 150.62 TWD 38
5Y Revenue Exit 93.21 TWD 142.25 TWD 206.45 TWD 39
5Y EBITDA Exit 110.94 TWD 176.30 TWD 254.59 TWD 41
10Y Revenue Exit 83.68 TWD 126.57 TWD 187.18 TWD 36
10Y EBITDA Exit 97.30 TWD 150.01 TWD 223.99 TWD 37
Earnings-Based
EPV 75.89 TWD 83.99 TWD 90.99 TWD 59
Dividend Discount
Gordon GGM 23.94 TWD 47.70 TWD 72.23 TWD 70
DDM Multi-Stage 23.94 TWD 41.21 TWD 50.35 TWD 61
Multiples
EV/EBIT 145.60 TWD 185.94 TWD 226.29 TWD 53
EV/EBITDA 142.60 TWD 181.94 TWD 221.29 TWD 54
EV/Revenue 106.15 TWD 141.11 TWD 176.08 TWD 43
Asset-Based
NCAV (Graham) 10.99 TWD 14.73 TWD 21.99 TWD 50
Growth DCF
Growth DCF 75.89 TWD 101.52 TWD 137.68 TWD 80
Rev-Margin DCF 93.21 TWD 141.38 TWD 198.43 TWD 74
Economic Profit
ROIC Compounder 75.89 TWD 83.99 TWD 90.99 TWD 72

Widest divergence: Multiples (181.94 TWD) versus Asset-Based (14.73 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 11.6B TWD
Revenue growth (YoY) +16.2%
Net margin -8.3%
Return on equity -28.5%
Free cash flow 517M TWD FY2025
Operating margin 10.2%
More key figures
EPS (TTM) -7.93 TWD
EPS growth (YoY) -39.7%
Net debt 6.8B TWD FY2025

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

Quality Score breakdown

Overall quality 43/100

Of which business quality 42 · Market factors (momentum, volatility) 44

Profitability 12
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 84
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

Compucase Enterprise Co., Ltd. designs and manufactures PC cases, power supplies, rackmount chassis, and cabinets worldwide. It also manufactures LED drivers, LED luminaires, LED panels, and switching power and open-frame power supplies.

Full company description

Compucase Enterprise Co., Ltd. designs and manufactures PC cases, power supplies, rackmount chassis, and cabinets worldwide. It also manufactures LED drivers, LED luminaires, LED panels, and switching power and open-frame power supplies. In addition, the company engages in the manufacture and sale of medical devices and equipment, cases, cabinets, computers, server chassis, computer parts and accessories, keyboards, plates, scanners, molds, dies, and other components; cutting and processing of iron materials; and the import and export of electronics, optoelectronics, and precision products, and plastic injectors. It offers its products under the HEC brand to OEM customers, industrial users, system integrators, and f customers. Compucase Enterprise Co., Ltd. was founded in 1979 and is headquartered in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Compucase Enterprise Co reported revenue of 11.2B TWD in FY2025 versus 8.3B TWD in FY2021, a compound +7.8%/yr. Reported net income was −894M TWD in FY2025.

Growth Quality 38/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
11.2B TWD
Latest YoY
+51.2%
Avg. growth/yr (3Y) 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.
+20.6%
Avg. growth/yr (5Y) 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.
+3.9%
Avg. growth/yr (23Y) 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.
+7.4%
Revenue +7.8%/yr
FY21 8.3B TWD
FY22 6.4B TWD
FY23 8.1B TWD
FY24 7.4B TWD
FY25 11.2B TWD
Net income
FY21 297M TWD
FY22 507M TWD
FY23 606M TWD
FY24 518M TWD
FY25 −894M TWD
Character of growth · EPS growth decomposed (2014-2025) +6.9 % p.a.
Revenue per share +6.2 pp

of which total revenue +7.1 pp · buybacks/dilution −0.9 pp

EBIT margin +1.2 pp
Tax rate +0.4 pp
Residual (interest, one-offs) −0.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Compucase Enterprise Co Fair Value". https://www.fairvalue-calculator.com/stock/3032

Peer Group

Computer Hardware · 215 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 43 · Bottom 25%
Fair Value upside +20% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) -8% · Bottom 25%
Operating margin (TTM) 10% · Top 25%
Revenue growth 16% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.75× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/B 0.11× · Cheaper than 75% of peers
P/S (TTM) 0.02× · Cheaper than 75% of peers
P/FCF 0.5× · 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 60 · sector 0
FUTURE 81 · sector 57
PAST 0 · sector 26
HEALTH 63 · sector 97
DIVIDEND 0 · sector 44

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

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is Compucase Enterprise Co (3032) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 97.59 TWD versus a price of 81.30 TWD, about +20% (undervalued).
What is the fair value of 3032?
Our model-based fair value for Compucase Enterprise Co is 97.59 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 81.30 TWD.
What is the quality score of 3032?
Compucase Enterprise Co has a Quality Score of 43/100. 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 Compucase Enterprise Co (3032)?
Compucase Enterprise Co reported trailing-twelve-month revenue of about 11.6B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3032?
The net profit margin of Compucase Enterprise Co is about -8.3%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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