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Auden Techno Corp (3138) Fair Value & Analysis

Technology · TW · Market cap 4.9B TWD

AT Auden Techno Corp 3138 · TW
Price99.80 TWD
Fair Value27.68 TWD
Upside-72.3%
Quality44/100
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Expensive Growth
Thin margins · 4.6% net margin
Low debt · negative free cash flow
1.18% dividend yield
Trails peers (2/13)
Narrow moat 26/100
Evidence: High Range 21.04 TWD – 34.32 TWD Share as image

Fair value as of: Jul 21, 2026

From 17 valuation models · updated 20 days ago

Share price −13.2% over the past month.

Below-average quality, and screening another 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (34.32 TWD). The favourable scenario is already priced in.
  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

457.72 TWD 68.60 TWD Fair Value 27.68 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 68.60 TWD – 457.72 TWD · fair‑value band 21.04 TWD – 34.32 TWD · the 99.80 TWD price screens above the 27.68 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Auden Techno Corp (3138) currently trades at 99.80 TWD, while our model-based Fair Value estimate is 27.68 TWD, implying the stock looks roughly 72.3% overvalued today. The Quality Score stands at 44/100 (below-average 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, Auden Techno Corp generated revenue of 1.8B TWD at a net margin of 4.6%. Revenue grew 22.2% year over year. It earns a return on equity of 3.5%. The balance sheet holds a net cash position of 56.0M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 21.04 TWD (bear case) to 34.32 TWD (bull case); at 99.80 TWD, the current price sits above 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 58% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -72%, 3138 screens richer 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
Residual Income 29.61 TWD 29.44 TWD 26.02 TWD 76
ROIC Compounder 23.38 TWD 25.08 TWD 26.54 TWD 72
Gordon GGM 22.23 TWD 44.29 TWD 67.06 TWD 70
All 17 models by family
DCF Models
Owner Earnings 19.29 TWD 22.76 TWD 27.83 TWD 31
Earnings-Based
Graham-Dodd 10.11 TWD 31.28 TWD 41.58 TWD 54
Lynch FV 6.78 TWD 9.68 TWD 12.58 TWD 50
PEG = 1.0 6.78 TWD 9.68 TWD 12.58 TWD 46
EPV 23.38 TWD 25.08 TWD 26.54 TWD 59
Dividend Discount
Gordon GGM 22.23 TWD 44.29 TWD 67.06 TWD 70
DDM Multi-Stage 22.23 TWD 36.02 TWD 46.75 TWD 61
Multiples
P/E Multiple 22.30 TWD 29.73 TWD 37.17 TWD 63
P/S Multiple 18.96 TWD 25.27 TWD 31.59 TWD 58
P/B Multiple 18.96 TWD 25.27 TWD 31.59 TWD 55
EV/EBIT 32.56 TWD 39.20 TWD 45.84 TWD 53
EV/EBITDA 44.11 TWD 54.60 TWD 65.09 TWD 54
EV/Revenue 26.07 TWD 31.82 TWD 37.57 TWD 43
Asset-Based
NCAV (Graham) 20.14 TWD 26.98 TWD 40.27 TWD 50
Economic Profit
Residual Income 29.61 TWD 29.44 TWD 26.02 TWD 76
ROIC Compounder 23.38 TWD 25.08 TWD 26.54 TWD 72
Growth Earnings
Growth-Adj P/E 18.50 TWD 26.43 TWD 34.36 TWD 68

Widest divergence: Dividend Discount (36.02 TWD) versus Earnings-Based (9.68 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.8B TWD
Revenue growth (YoY) +22.2%
Net margin 4.6%
Return on equity 3.5%
Free cash flow −55.2M TWD FY2025
P/E ratio 94.4
More key figures
Operating margin -3.2%
EPS (TTM) 1.51 TWD
Dividend yield 1.2%
EPS growth (YoY) +41.9%
Net cash 56.0M TWD FY2025

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

Quality Score breakdown

Overall quality 44/100

Of which business quality 45 · Market factors (momentum, volatility) 28

Profitability 27
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 17
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 32
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 89
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

Auden Techno Corp. engages in the design, manufacture, and sale of wireless communications in Taiwan, Mainland China, and internationally.

Full company description

Auden Techno Corp. engages in the design, manufacture, and sale of wireless communications in Taiwan, Mainland China, and internationally. It offers RF communication testing, wireless power transmission and material characteristic measurement products; medical implant safety evaluation, and cell exposure systems, satellite link simulation and diagnostics, electromagnetic and medical simulation software, vital sign simulators, QMS tools, and other equipment. The company also provides various antenna products, and antenna design and measurement services, as well as antenna solutions for mobile phone, notebook/tablet, IOV, IOT, industrial product, and smart home solutions. In addition, it offers up/down converters, and antenna array modules for millimeter wave array antenna modules, and low-earth orbit satellites. Further, the company provides simulation design, design standard, device database, training support, and research, as well as test services, including antenna measurements and production testing. Additionally, it engages in test and certification, and smart green energy businesses. Auden Techno Corp. was founded in 1980 and is headquartered in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Auden Techno Corp reported revenue of 1.7B TWD in FY2025 versus 1.4B TWD in FY2021, a compound +5.0%/yr. Reported net income was 73.9M TWD in FY2025, compounding −28.1%/yr from FY2021.

Growth Quality 47/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.7B TWD
Latest YoY
+2.1%
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.
+0.5%
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.
+9.2%
Avg. growth/yr (16Y) 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.
+7.7%
Revenue +5.0%/yr
FY21 1.4B TWD
FY22 1.7B TWD
FY23 1.8B TWD
FY24 1.7B TWD
FY25 1.7B TWD
Net income −28.1%/yr
FY21 276M TWD
FY22 321M TWD
FY23 206M TWD
FY24 152M TWD
FY25 73.9M TWD
Character of growth · EPS growth decomposed (2014-2025) +10.4 % p.a.
Revenue per share +8.3 pp

of which total revenue +10.2 pp · buybacks/dilution −1.9 pp

EBIT margin +2.5 pp
Tax rate +1.0 pp
Residual (interest, one-offs) −1.4 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).

3138 screens 72% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "Auden Techno Corp Fair Value". https://www.fairvalue-calculator.com/stock/3138

Peer Group

Communication Equipment · 286 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 44 · Below median
Fair Value upside −72% · Bottom 25%
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 5% · Above median
Operating margin (TTM) -3% · Bottom 25%
Revenue growth 22% · Above median
Dividend yield (TTM) 1.2% · Below median
Debt / equity 0.37× · Higher than 75% of peers

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 66.0× · Pricier than median
P/B 2.46× · Pricier than median
P/S (TTM) 2.71× · Pricier than median
EV/EBITDA 31.7× · Pricier 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 0 · sector 0
FUTURE 100 · sector 30
PAST 14 · sector 15
HEALTH 81 · sector 98
DIVIDEND 24 · sector 25

VALUE 0: the price sits above our fair-value range.

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

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is Auden Techno Corp (3138) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 27.68 TWD versus a price of 99.80 TWD, about −72% (overvalued).
What is the fair value of 3138?
Our model-based fair value for Auden Techno Corp is 27.68 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 99.80 TWD.
What is the quality score of 3138?
Auden Techno Corp has a Quality Score of 44/100. 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 Auden Techno Corp (3138)?
Auden Techno Corp reported trailing-twelve-month revenue of about 1.8B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3138?
The net profit margin of Auden Techno Corp is about 4.6%, meaning it keeps roughly 4.6% of revenue as net income. Based on the latest reported figures.
Does Auden Techno Corp pay a dividend?
Auden Techno Corp currently shows a dividend yield of about 1.18% relative to its recent price (as of Jul 21, 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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