Level Biotechnology (3118) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Level Biotechnology TWD 33.91, price TWD 30.85, upside +9.9%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Level Biotechnology Inc. engages in marketing and distributing cell culture, immunology, and molecular biology products in Taiwan. The company markets and distributes biomedical precision equipment. It also provides services in the areas of mammalian and genetic toxicology, pharmacology, biocompatibility, and model animal production.
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Level Biotechnology Inc. engages in marketing and distributing cell culture, immunology, and molecular biology products in Taiwan. The company markets and distributes biomedical precision equipment. It also provides services in the areas of mammalian and genetic toxicology, pharmacology, biocompatibility, and model animal production. In addition, it offers preclinical research services to the biotech, pharmaceutical, medical device, animal health, and agrichemical industries. The company was founded in 1989 and is headquartered in New Taipei City, Taiwan.
Stock analysis
Level Biotechnology (3118) currently trades at 30.85 TWD, while our model-based Fair Value estimate is 33.91 TWD, implying the stock looks roughly 9.0% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 41.75 TWD per share, and 15 of the 22 models we run sit above the 30.85 TWD price.
Bear case: the Asset-Based group reads lowest at 11.98 TWD, and 7 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 23.40 TWD (bear) to 47.07 TWD (bull), the price of 30.85 TWD sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Level Biotechnology reported revenue of 737M TWD in FY2025 versus 677M TWD in FY2021, a compound +2.1%/yr. Reported net income was 79.7M TWD in FY2025, compounding +4.0%/yr from FY2021.
Key figures
Market cap 1.0B TWD (≈ $31.4M) · P/E ratio 13.2 · P/S ratio 1.43 · EPS (TTM) 2.33 TWD · Dividend yield 7.1% · Net margin 10.8% · Return on equity 14.1% · Return on assets (EBIT) 9.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at 10%, 3118 screens cheaper than that median.
Fair Value models
Bear 23.40 TWDFair Value 33.91 TWDBull 47.07 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0955 TWD per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+0.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+7.5%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+1.8%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.1%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+13.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.6%
Dividend (yield on the price)7.1%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 11%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +5.8% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Biotechnology · 649 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+8% · Top 25%
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets6% · Top 25%
Net margin (TTM)11% · Above median
Operating margin (TTM)7% · Above median
Growth and dividend
Revenue growth−5% · Below median
Dividend yield (TTM)7.1% · Top 25%
Valuation Multiplesvs Biotechnology median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Level Biotechnology Fair Value". https://www.fairvalue-calculator.com/stock/3118
Frequently asked questions
Is Level Biotechnology (3118) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 33.91 TWD versus a price of 30.85 TWD, about +10% upside (fairly valued).
What is the fair value of 3118?
Our model-based fair value for Level Biotechnology is 33.91 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 30.85 TWD.
What is the quality score of 3118?
Level Biotechnology 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 price target for Level Biotechnology (3118)?
Our model-based price target is the fair value of 33.91 TWD (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 23.40 TWD, optimistic scenario 47.07 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Level Biotechnology stock forecast for 2026?
Our models put fair value at 33.91 TWD, about +10% upside versus a price of 30.85 TWD (fairly valued). Cautious scenario 23.40 TWD, optimistic scenario 47.07 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Level Biotechnology (3118)?
Level Biotechnology reported trailing-twelve-month revenue of about 709M TWD (latest available figure, as of Sep 24, 2026).
Does Level Biotechnology pay a dividend?
Level Biotechnology currently shows a dividend yield of about 7.13% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Level Biotechnology (3118)?
For today's price to be fair in a discounted-cash-flow model, Level Biotechnology would have to grow free cash flow by +7.5 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 3118 use?
Our models discount Level Biotechnology at 9.0 %: a base by market capitalisation (nano), damped by beta 0.23, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Level Biotechnology that is +7.5 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Level Biotechnology (3118) delivered so far?
Over the past 5 years revenue at Level Biotechnology grew +1.8 % a year. The price currently implies +7.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Level Biotechnology (3118) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into Level Biotechnology (+7.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Level Biotechnology (3118)?
The free-cash-flow yield on the price is 2.69 %: that much free cash flow Level Biotechnology produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Level Biotechnology (3118)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Level Biotechnology it is 33.91 TWD per share (as of Sep 24, 2026), against a price of 30.85 TWD. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Level Biotechnology stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3118 trades below its calculated fair value: price 30.85 TWD, fair value 33.91 TWD, a gap of about +10% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 3118?
No. The price is what the market pays today (30.85 TWD); the fair value is what the company's own numbers justify (33.91 TWD). For Level Biotechnology the two are 3.06 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Level Biotechnology worth?
The market values Level Biotechnology at about 1.0B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 30.85 TWD; our models calculate a fair value of 33.91 TWD per share.
What do the bullish and bearish scenarios say about 3118?
Our models span a range for Level Biotechnology: cautious scenario 23.40 TWD, base 33.91 TWD, optimistic 47.07 TWD per share (as of Sep 24, 2026, price 30.85 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3118?
Level Biotechnology trades at a price-to-earnings ratio of 13.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 33.91 TWD is built from several models across several years. Other multiples: P/B 1.8, P/S 1.4, EV/EBITDA 7.9.
How solid is the balance sheet of Level Biotechnology (3118)?
Balance-sheet figures for Level Biotechnology (as of Sep 24, 2026): return on equity 14.1%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is 3118 from its 52-week high?
Level Biotechnology trades at 30.85 TWD, about 10% below its 52-week high of 34.10 TWD and at the low of 30.85 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 33.91 TWD is for.
Which stocks are comparable to Level Biotechnology?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Level Biotechnology stock attractive at the current price?
The data as of Sep 24, 2026: price 30.85 TWD, calculated fair value 33.91 TWD (+10%), Quality Score 65/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 3118 calculated?
We run Level Biotechnology through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 33.91 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Level Biotechnology currently trades 10 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Level Biotechnology (3118)?
The closing price on Sep 24, 2026 was 30.85 TWD. Our model-based fair value is 33.91 TWD, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Level Biotechnology right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (23.40 TWD to 47.07 TWD) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Level Biotechnology
How large is the market capitalisation of Level Biotechnology (3118)?
The market capitalisation of Level Biotechnology is 1.0B TWD (≈ $31.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Level Biotechnology (3118)?
The price-to-sales ratio of Level Biotechnology is 1.43 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Level Biotechnology (3118)?
Earnings per share at Level Biotechnology are 2.33 TWD (price ÷ EPS = P/E 13.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Level Biotechnology (3118)?
The dividend yield of Level Biotechnology is 7.1% (payout 94.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Level Biotechnology (3118)?
The net margin of Level Biotechnology is 10.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Level Biotechnology (3118)?
The return on equity (ROE) of Level Biotechnology is 14.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Level Biotechnology (3118)?
On an EBIT basis the return on assets of Level Biotechnology is 9.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Level Biotechnology (3118)?
The operating margin of Level Biotechnology is 7.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Level Biotechnology (3118)?
Revenue at Level Biotechnology is growing −5.4% versus a year earlier (3y avg +7.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Level Biotechnology (3118)?
Earnings per share at Level Biotechnology are growing −7.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Level Biotechnology (3118) hold?
Level Biotechnology holds more cash than debt, 454M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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