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Optimax Technology Corporation (3051) Fair Value & Analysis

Technology · TW · Market cap 3.8B TWD

OT Optimax Technology Corporation 3051 · TW
Price23.30 TWD
Fair Value20.35 TWD
Upside-12.7%
Quality67/100
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Weak Growth
Thin margins · 9.5% net margin
Low debt · generates free cash flow
1.88% dividend yield
Ranks above peers (12/14)
Moderate moat 45/100
Evidence: High Range 15.01 TWD – 25.44 TWD Share as image

Fair value as of: Jul 23, 2026

From 22 valuation models · updated 18 days ago

Share price −7.5% over the past month.

A solid business, but screening 13% overvalued on our models.

What matters now

  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from 15.01 TWD (bear) to 25.44 TWD (bull), base 20.35 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 67/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

43.55 TWD 11.76 TWD Fair Value 20.35 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 11.76 TWD – 43.55 TWD · fair‑value band 15.01 TWD – 25.44 TWD · the 23.30 TWD price screens above the 20.35 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Optimax Technology Corporation (3051) currently trades at 23.30 TWD, while our model-based Fair Value estimate is 20.35 TWD, implying the stock looks roughly 12.7% overvalued today. The Quality Score stands at 67/100 (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: high).

Over the trailing twelve months, Optimax Technology Corporation generated revenue of 1.8B TWD at a net margin of 9.5%. Revenue declined 17.7% year over year. It earns a return on equity of 6.6%. Net debt stands at 953M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 15.01 TWD (bear case) to 25.44 TWD (bull case); at 23.30 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 26% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -13%, 3051 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 31.63 TWD 42.20 TWD 59.72 TWD 80
Residual Income 11.92 TWD 12.40 TWD 12.88 TWD 76
Rev-Margin DCF 20.66 TWD 28.29 TWD 37.91 TWD 74
All 22 models by family
DCF Models
FCF DCF 30.36 TWD 41.33 TWD 61.03 TWD 38
Owner Earnings 12.87 TWD 17.45 TWD 25.67 TWD 31
5Y Revenue Exit 20.66 TWD 27.57 TWD 37.56 TWD 39
5Y EBITDA Exit 23.01 TWD 31.65 TWD 43.09 TWD 41
5Y P/E Exit 20.18 TWD 26.74 TWD 34.65 TWD 38
10Y Revenue Exit 24.00 TWD 29.41 TWD 34.99 TWD 36
10Y EBITDA Exit 25.78 TWD 31.88 TWD 38.16 TWD 37
10Y P/E Exit 24.09 TWD 28.91 TWD 33.31 TWD 35
Earnings-Based
Graham-Dodd 6.92 TWD 8.46 TWD 9.52 TWD 54
EPV 12.29 TWD 14.18 TWD 15.80 TWD 59
Multiples
P/E Multiple 15.27 TWD 20.35 TWD 25.44 TWD 63
P/S Multiple 12.98 TWD 17.30 TWD 21.63 TWD 58
P/B Multiple 12.98 TWD 17.30 TWD 21.63 TWD 55
EV/EBIT 22.78 TWD 30.26 TWD 37.73 TWD 53
EV/EBITDA 21.13 TWD 28.06 TWD 34.99 TWD 54
EV/Revenue 15.47 TWD 21.95 TWD 28.43 TWD 43
Asset-Based
NCAV (Graham) 7.51 TWD 10.07 TWD 15.03 TWD 50
Growth DCF
Growth DCF 31.63 TWD 42.20 TWD 59.72 TWD 80
Rev-Margin DCF 20.66 TWD 28.29 TWD 37.91 TWD 74
Economic Profit
Residual Income 11.92 TWD 12.40 TWD 12.88 TWD 76
ROIC Compounder 12.29 TWD 14.18 TWD 16.05 TWD 72
Growth Earnings
Growth-Adj P/E 10.80 TWD 15.43 TWD 20.06 TWD 68

Widest divergence: DCF Models (28.91 TWD) versus Earnings-Based (8.46 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.8B TWD
Revenue growth (YoY) -17.7%
Net margin 9.5%
Return on equity 6.6%
Free cash flow 535M TWD FY2025
P/E ratio 23.0
More key figures
Operating margin 9.6%
EPS (TTM) 1.01 TWD
Dividend yield 1.9%
EPS growth (YoY) +4.7%
Net debt 953M TWD FY2025

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

Quality Score breakdown

Overall quality 67/100

Of which business quality 67 · Market factors (momentum, volatility) 31

Profitability 35
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 34
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 32
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

Optimax Technology Corporation engages in the manufacture and sale of polarizers for liquid crystal display (LCD) manufacturers in Taiwan.

Full company description

Optimax Technology Corporation engages in the manufacture and sale of polarizers for liquid crystal display (LCD) manufacturers in Taiwan. The company offers dye-based polarizing plates used in TN/STN/TFT/PMVA/OLED applications; and iodine-based polarizing plates for flat panel displays used in electronic watches, mobile phones, tablets, electronic computers, notebook computers, desktop LCD monitors, digital cameras, portable DVD players, industrial automation control panels, measuring instruments, televisions, public inquiry systems, etc. It also provides explosion-proof film product for use in touch screens, such as mobile phones and tablets to prevent the touch screen from flying and causing damage when the touch screen is hit by external force; and polarized sunglasses and vehicle display polarizers. The company was founded in 1998 and is based in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Optimax Technology Corporation reported revenue of 1.9B TWD in FY2025 versus 3.2B TWD in FY2021, a compound −12.4%/yr. Reported net income was 168M TWD in FY2025, compounding −32.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.9B TWD
Latest YoY
−0.6%
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.
−14.0%
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.
−5.0%
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.
−4.9%
Revenue −12.4%/yr
FY21 3.2B TWD
FY22 2.9B TWD
FY23 2.0B TWD
FY24 1.9B TWD
FY25 1.9B TWD
Net income −32.5%/yr
FY21 810M TWD
FY22 444M TWD
FY23 173M TWD
FY24 337M TWD
FY25 168M TWD
Character of growth · EPS growth decomposed (2014-2025) −6.2 % p.a.
Revenue per share −6.7 pp

of which total revenue −6.9 pp · buybacks/dilution +0.1 pp

EBIT margin +2.8 pp
Tax rate −1.7 pp
Residual (interest, one-offs) −0.6 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).

3051 screens 13% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Optimax Technology Corporation Fair Value". https://www.fairvalue-calculator.com/stock/3051

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 67 · Top 25%
Fair Value upside −13% · Above median
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 12% · Top 25%
Revenue growth -18% · Bottom 25%
Dividend yield (TTM) 1.9% · Above median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 23.0× · Cheaper than median
P/B 1.54× · Cheaper than median
P/S (TTM) 2.13× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 12.6× · 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 16 · sector 0
FUTURE 0 · sector 32
PAST 26 · sector 24
HEALTH 98 · sector 95
DIVIDEND 38 · sector 25

Insider activity: 45/100

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 Optimax Technology Corporation (3051) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 20.35 TWD versus a price of 23.30 TWD, about −13% (overvalued).
What is the fair value of 3051?
Our model-based fair value for Optimax Technology Corporation is 20.35 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 23.30 TWD.
What is the quality score of 3051?
Optimax Technology Corporation has a Quality Score of 67/100. 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 Optimax Technology Corporation (3051)?
Optimax Technology Corporation reported trailing-twelve-month revenue of about 1.8B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3051?
The net profit margin of Optimax Technology Corporation is about 9.5%, meaning it keeps roughly 9.5% of revenue as net income. Based on the latest reported figures.
Does Optimax Technology Corporation pay a dividend?
Optimax Technology Corporation currently shows a dividend yield of about 1.88% 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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