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Emerging Display Technologies Corp (3038) Fair Value & Analysis

Technology · TW · Market cap 2.8B TWD

ED Emerging Display Technologies Corp 3038 · TW
Price20.70 TWD
Fair Value23.91 TWD
Upside+15.5%
Quality65/100
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Weak Growth
Thin margins · 4.7% net margin
Low debt · generates free cash flow
5.77% dividend yield
Ranks above peers (11/14)
Narrow moat 34/100
Evidence: High Range 17.93 TWD – 29.88 TWD Share as image

Fair value as of: Jul 23, 2026

From 22 valuation models · updated 18 days ago

Share price −5.3% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • Our model range runs from 17.93 TWD (bear) to 29.88 TWD (bull), base 23.91 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 65/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

40.73 TWD 15.05 TWD Fair Value 23.91 TWD Mar 2021 Aug 2026

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 15.05 TWD – 40.73 TWD · fair‑value band 17.93 TWD – 29.88 TWD · the 20.70 TWD price screens below the 23.91 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Emerging Display Technologies Corp (3038) currently trades at 20.70 TWD, while our model-based Fair Value estimate is 23.91 TWD, implying the stock looks roughly 15.5% undervalued today. The Quality Score stands at 65/100 (solid 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: high), always confirm before acting.

Over the trailing twelve months, Emerging Display Technologies Corp generated revenue of 3.0B TWD at a net margin of 4.7%. Revenue declined 6.8% year over year. It earns a return on equity of 5.5%. The balance sheet holds a net cash position of 737M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 17.93 TWD (bear case) to 29.88 TWD (bull case); at 20.70 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 19% below its 52-week high and 4% 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 16%, 3038 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 31.24 TWD 39.83 TWD 54.07 TWD 80
Residual Income 14.80 TWD 15.27 TWD 15.47 TWD 76
Rev-Margin DCF 21.15 TWD 26.49 TWD 33.29 TWD 74
All 22 models by family
DCF Models
FCF DCF 30.20 TWD 39.13 TWD 55.14 TWD 38
Owner Earnings 17.81 TWD 22.19 TWD 30.07 TWD 31
5Y Revenue Exit 21.15 TWD 25.90 TWD 32.77 TWD 39
5Y EBITDA Exit 24.28 TWD 31.33 TWD 40.68 TWD 41
5Y P/E Exit 24.77 TWD 32.18 TWD 41.07 TWD 38
10Y Revenue Exit 24.39 TWD 28.21 TWD 32.08 TWD 36
10Y EBITDA Exit 26.51 TWD 31.49 TWD 36.62 TWD 37
10Y P/E Exit 26.80 TWD 32.00 TWD 36.84 TWD 35
Earnings-Based
Graham-Dodd 8.13 TWD 9.93 TWD 11.18 TWD 54
EPV 14.95 TWD 16.39 TWD 17.63 TWD 59
Multiples
P/E Multiple 17.93 TWD 23.91 TWD 29.88 TWD 63
P/S Multiple 15.24 TWD 20.32 TWD 25.40 TWD 58
P/B Multiple 15.24 TWD 20.32 TWD 25.40 TWD 55
EV/EBIT 20.88 TWD 25.90 TWD 30.92 TWD 53
EV/EBITDA 22.80 TWD 28.46 TWD 34.12 TWD 54
EV/Revenue 15.97 TWD 20.32 TWD 24.67 TWD 43
Asset-Based
NCAV (Graham) 9.45 TWD 12.66 TWD 18.89 TWD 50
Growth DCF
Growth DCF 31.24 TWD 39.83 TWD 54.07 TWD 80
Rev-Margin DCF 21.15 TWD 26.49 TWD 33.29 TWD 74
Economic Profit
Residual Income 14.80 TWD 15.27 TWD 15.47 TWD 76
ROIC Compounder 14.95 TWD 16.39 TWD 17.63 TWD 72
Growth Earnings
Growth-Adj P/E 12.68 TWD 18.12 TWD 23.56 TWD 68

Widest divergence: DCF Models (31.33 TWD) versus Earnings-Based (9.93 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.0B TWD
Revenue growth (YoY) -6.8%
Net margin 4.7%
Return on equity 5.5%
Free cash flow 360M TWD FY2025
P/E ratio 18.9
More key figures
Operating margin 5.7%
EPS (TTM) 1.10 TWD
Dividend yield 5.8%
EPS growth (YoY) -29.4%
Net cash 737M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 67 · Market factors (momentum, volatility) 44

Profitability 38
Margins and returns on capital today
Quality Growth 13
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 90
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

Emerging Display Technologies Corp. produces and sells capacitive touch panels and liquid crystal displays (LCD) in Taiwan, Europe, the United States, and internationally.

Full company description

Emerging Display Technologies Corp. produces and sells capacitive touch panels and liquid crystal displays (LCD) in Taiwan, Europe, the United States, and internationally. The company offers thin-film transistor (TFT), super-twisted nematic (STN) character and graphic, TFT with capacitive touch, STN display, and FSTN display technologies using various methods of driver electronics on various modules, such as chip on glass, chip on board, chip on flex, tape automated bonding, and flexible print circuit board. It also provides smart embedded modules that offers components to control the display and touchscreen, as well as various interfaces. The company used its products in industrial equipment, smart home control devices, healthcare equipment, handheld devices, and information appliance products. Emerging Display Technologies Corp. was founded in 1983 and is headquartered in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Emerging Display Technologies Corp reported revenue of 3.0B TWD in FY2025 versus 4.2B TWD in FY2021, a compound −7.9%/yr. Reported net income was 163M TWD in FY2025, compounding −8.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.0B TWD
Latest YoY
−16.5%
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.
−13.8%
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.
−4.2%
Avg. growth/yr (25Y) 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.
+2.7%
Revenue −7.9%/yr
FY21 4.2B TWD
FY22 4.7B TWD
FY23 4.4B TWD
FY24 3.6B TWD
FY25 3.0B TWD
Net income −8.9%/yr
FY21 237M TWD
FY22 420M TWD
FY23 418M TWD
FY24 328M TWD
FY25 163M TWD
Character of growth · EPS growth decomposed (2014-2025) +8.0 % p.a.
Revenue per share +4.1 pp

of which total revenue +0.4 pp · buybacks/dilution +3.6 pp

EBIT margin +4.6 pp
Tax rate +0.2 pp
Residual (interest, one-offs) −0.9 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). "Emerging Display Technologies Corp Fair Value". https://www.fairvalue-calculator.com/stock/3038

Peer Group

Electronic Components · 625 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 65 · Top 25%
Fair Value upside +16% · Top 25%
Return on equity (TTM) 6% · Below median
Return on assets 2% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 5.8% · Top 25%
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 18.9× · Cheaper than 75% of peers
P/B 1.10× · Cheaper than median
P/S (TTM) 0.96× · Cheaper than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 9.5× · 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 54 · sector 0
FUTURE 0 · sector 32
PAST 22 · sector 24
HEALTH 92 · sector 95
DIVIDEND 100 · sector 25

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 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

Is Emerging Display Technologies Corp (3038) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 23.91 TWD versus a price of 20.70 TWD, about +16% (undervalued).
What is the fair value of 3038?
Our model-based fair value for Emerging Display Technologies Corp is 23.91 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 20.70 TWD.
What is the quality score of 3038?
Emerging Display Technologies Corp has a Quality Score of 65/100. 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 Emerging Display Technologies Corp (3038)?
Emerging Display Technologies Corp reported trailing-twelve-month revenue of about 3.0B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3038?
The net profit margin of Emerging Display Technologies Corp is about 4.7%, meaning it keeps roughly 4.7% of revenue as net income. Based on the latest reported figures.
Does Emerging Display Technologies Corp pay a dividend?
Emerging Display Technologies Corp currently shows a dividend yield of about 5.33% relative to its recent price (as of Jul 23, 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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