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Spirox Corporation (3055) Fair Value & Analysis

Technology · TW · Market cap 18.2B TWD

SC Spirox Corporation 3055 · TW
Price113.50 TWD
Fair Value250.75 TWD
Upside+120.9%
Quality43/100
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Weak Growth
Loss-making · -51.5% net margin
Low debt · negative free cash flow
0.31% dividend yield
Mixed vs. peers (6/12)
Narrow moat 6/100
Evidence: Low Range 165.56 TWD – 313.36 TWD Share as image

Fair value as of: Jul 21, 2026

From 3 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 249.37 TWD to 250.75 TWD (+0.6%) since Jul 9, 2026. Share price −27.9% over the past month.

Below-average quality, screening 121% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (165.56 TWD). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (165.56 TWD to 313.36 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

193.00 TWD 22.30 TWD Fair Value 250.75 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 22.30 TWD – 193.00 TWD · fair‑value band 165.56 TWD – 313.36 TWD · the 113.50 TWD price screens below the 250.75 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Spirox Corporation (3055) currently trades at 113.50 TWD, while our model-based Fair Value estimate is 250.75 TWD, implying the stock looks roughly 120.9% 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: low), always confirm before acting.

Over the trailing twelve months, Spirox Corporation generated revenue of 477M TWD at a net margin of -51.5%. Revenue grew 26.4% year over year. It earns a return on equity of -13.8%. The balance sheet holds a net cash position of 808M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 165.56 TWD (bear case) to 313.36 TWD (bull case); at 113.50 TWD, the current price sits below 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 10% below its 52-week high and 114% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at 121%, 3055 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
Gordon GGM 9.18 TWD 10.05 TWD 11.37 TWD 70
DDM Multi-Stage 9.18 TWD 11.52 TWD 14.80 TWD 61
NCAV (Graham) 7.32 TWD 9.80 TWD 14.63 TWD 50
All 3 models by family
Dividend Discount
Gordon GGM 9.18 TWD 10.05 TWD 11.37 TWD 70
DDM Multi-Stage 9.18 TWD 11.52 TWD 14.80 TWD 61
Asset-Based
NCAV (Graham) 7.32 TWD 9.80 TWD 14.63 TWD 50

Widest divergence: Dividend Discount (10.05 TWD) versus Asset-Based (9.80 TWD). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 477M TWD
Revenue growth (YoY) +26.4%
Net margin -51.5%
Return on equity -13.8%
Free cash flow −217M TWD FY2025
Operating margin -64.5%
More key figures
EPS (TTM) -2.67 TWD
Dividend yield 0.3%
EPS growth (YoY) -97.7%
Net cash 808M 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 44 · Market factors (momentum, volatility) 76

Profitability 2
Margins and returns on capital today
Quality Growth 7
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 79
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

Spirox Corporation provides semiconductor equipment in Taiwan, China, and internationally. The company offers laser tomography scan system, including non-destructive TGV laser modification inspection system; IC testing equipment, such as ATE, handler, and interface; packaging equipment, consists reflow oven, plasma cleaner, TCB bonder, warpage adjustment, …

Full company description

Spirox Corporation provides semiconductor equipment in Taiwan, China, and internationally. The company offers laser tomography scan system, including non-destructive TGV laser modification inspection system; IC testing equipment, such as ATE, handler, and interface; packaging equipment, consists reflow oven, plasma cleaner, TCB bonder, warpage adjustment, and thermal debonding; lab wafer and chip inspection equipment, comprising surface topography inspection and material characteristic analysis, defect inspection, FA, and ESD; mass production chip inspection equipment, contains automated optical inspection, and defect inspection products. It also provides ATE/prober board repair service; accessories, such as chuck, probe pin, automation equipment, and silicon materials and wafers. In addition, the company offers raman/PL spectroscopy, photoluminescence, RF front-end module, digital and mixed signals, RF and wireless, MEMS sensor device, power semiconductor test, compound semiconductor, failure analysis, and advanced and semiconductor packaging. Spirox Corporation was founded in 1987 and is headquartered in Hsinchu City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Spirox Corporation reported revenue of 459M TWD in FY2025 versus 2.6B TWD in FY2021, a compound −35.5%/yr. Reported net income was −303M TWD in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
459M TWD
Latest YoY
−31.8%
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.
−37.9%
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.
−34.1%
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.
−8.7%
Revenue −35.5%/yr
FY21 2.6B TWD
FY22 1.9B TWD
FY23 1.3B TWD
FY24 673M TWD
FY25 459M TWD
Net income
FY21 −359M TWD
FY22 240M TWD
FY23 −56.1M TWD
FY24 −252M TWD
FY25 −303M TWD

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Cite: Fair Value Calculator (2026). "Spirox Corporation Fair Value". https://www.fairvalue-calculator.com/stock/3055

Peer Group

Semiconductor Equipment & Materials · 212 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 +121% · Top 25%
Return on assets -7% · Bottom 25%
Net margin (TTM) -52% · Bottom 25%
Operating margin (TTM) -64% · Bottom 25%
Revenue growth 26% · Above median
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/B 0.34× · Cheaper than 75% of peers
P/S (TTM) 1.19× · Cheaper than 75% of peers
PEG 0.81× · Cheaper than 75% of peers

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 100 · sector 0
FUTURE 100 · sector 58
PAST 0 · sector 30
HEALTH 100 · sector 96
DIVIDEND 6 · sector 16

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is Spirox Corporation (3055) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 250.75 TWD versus a price of 113.50 TWD, about +121% (undervalued).
What is the fair value of 3055?
Our model-based fair value for Spirox Corporation is 250.75 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 113.50 TWD.
What is the quality score of 3055?
Spirox Corporation 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 Spirox Corporation (3055)?
Spirox Corporation reported trailing-twelve-month revenue of about 477M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3055?
The net profit margin of Spirox Corporation is about -51.5%, 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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