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ASIX Electronics Corporation (3169) Fair Value & Analysis

Technology · TW · Market cap 6.6B TWD

AE ASIX Electronics Corporation 3169 · TWO
Price103.00 TWD
Fair Value73.37 TWD
Upside-28.8%
Quality80/100
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Healthy Growth
Highly profitable · 24.2% net margin
generates free cash flow
Ranks above peers (9/13)
Wide moat 71/100
Evidence: High Range 55.03 TWD – 91.71 TWD Share as image

Fair value as of: Jul 21, 2026

From 23 valuation models · updated 20 days ago

Share price −1.0% over the past month.

A strong business, but screening 29% overvalued on our models.

What matters now

  • A high-quality business (quality 80/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (91.71 TWD). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

243.97 TWD 67.91 TWD Fair Value 73.37 TWD Feb 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 67.91 TWD – 243.97 TWD · fair‑value band 55.03 TWD – 91.71 TWD · the 103.00 TWD price screens above the 73.37 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

ASIX Electronics Corporation (3169) currently trades at 103.00 TWD, while our model-based Fair Value estimate is 73.37 TWD, implying the stock looks roughly 28.8% overvalued today. The Quality Score stands at 80/100 (high 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, ASIX Electronics Corporation generated revenue of 916M TWD at a net margin of 24.2%. Revenue declined 5.3% year over year. It earns a return on equity of 11.7%. The balance sheet holds a net cash position of 1.5B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 55.03 TWD (bear case) to 91.71 TWD (bull case); at 103.00 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 19% 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 -67% fair-value upside, at -29%, 3169 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
Residual Income 26.86 TWD 32.00 TWD 64.35 TWD 76
Growth DCF 65.31 TWD 81.09 TWD 101.65 TWD 72
Growth-Adj P/E 41.54 TWD 59.34 TWD 77.14 TWD 68
All 23 models by family
DCF Models
FCF DCF 64.22 TWD 81.26 TWD 104.44 TWD 38
Owner Earnings 59.49 TWD 74.61 TWD 95.16 TWD 31
5Y Revenue Exit 53.29 TWD 66.22 TWD 81.82 TWD 39
5Y EBITDA Exit 62.75 TWD 82.98 TWD 105.37 TWD 41
5Y P/E Exit 68.20 TWD 92.64 TWD 116.86 TWD 38
10Y Revenue Exit 56.45 TWD 68.58 TWD 83.08 TWD 36
10Y EBITDA Exit 62.93 TWD 79.64 TWD 99.80 TWD 37
10Y P/E Exit 66.26 TWD 86.01 TWD 107.95 TWD 35
Earnings-Based
Graham-Dodd 24.95 TWD 57.39 TWD 73.64 TWD 54
PEG = 1.0 9.63 TWD 13.76 TWD 17.88 TWD 46
EPV 54.04 TWD 59.02 TWD 63.31 TWD 59
Multiples
P/E Multiple 55.03 TWD 73.37 TWD 91.71 TWD 63
P/S Multiple 27.62 TWD 36.83 TWD 46.03 TWD 58
P/B Multiple 46.77 TWD 62.36 TWD 77.95 TWD 55
EV/EBIT 77.66 TWD 96.03 TWD 114.40 TWD 53
EV/EBITDA 67.54 TWD 82.54 TWD 97.54 TWD 54
EV/Revenue 48.31 TWD 59.36 TWD 70.41 TWD 43
Asset-Based
NCAV (Graham) 14.47 TWD 19.39 TWD 28.94 TWD 50
Growth DCF
Growth DCF 65.31 TWD 81.09 TWD 101.65 TWD 72
Rev-Margin DCF 53.29 TWD 66.86 TWD 81.51 TWD 67
Economic Profit
Residual Income 26.86 TWD 32.00 TWD 64.35 TWD 76
ROIC Compounder 54.83 TWD 60.85 TWD 66.68 TWD 67
Growth Earnings
Growth-Adj P/E 41.54 TWD 59.34 TWD 77.14 TWD 68

Widest divergence: DCF Models (79.64 TWD) versus Asset-Based (19.39 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 916M TWD
Revenue growth (YoY) -5.3%
Net margin 24.2%
Return on equity 11.7%
Free cash flow 260M TWD FY2025
P/E ratio 30.8
More key figures
Operating margin 26.7%
EPS (TTM) 3.47 TWD
EPS growth (YoY) -14.2%
Net cash 1.5B TWD FY2023

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

Quality Score breakdown

Overall quality 80/100

Of which business quality 78 · Market factors (momentum, volatility) 53

Profitability 59
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 85
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 81
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

ASIX Electronics Corporation, an IC design company, engages in the research, development, manufacture, and sale of chips in Taiwan, China, and internationally.

Full company description

ASIX Electronics Corporation, an IC design company, engages in the research, development, manufacture, and sale of chips in Taiwan, China, and internationally. It offers communication and mixed signal receiving and processing chips, multimedia graphics ICs and graphics boards, asynchronous transmission mode chips, interface transmission chips, display driver chips, and white light emitting diode driver chips. The company also provides industrial, SuperSpeed USB, and Non-PCI/SPI embedded Ethernet ICs; and RS-232/RS-485 UART transceivers and USB KVM Switch/Wi-Fi/Ethernet SoCs, as well as interface ICs. It offers its products for smart factory, industrial automation, industrial IoT, smart home and office, PC and peripheral, interface connectivity, and USB KVM switch applications. The company was incorporated in 1995 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

ASIX Electronics Corporation reported revenue of 930M TWD in FY2025 versus 1.3B TWD in FY2021, a compound −8.4%/yr. Reported net income was 232M TWD in FY2025, compounding −11.9%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
930M TWD
Latest YoY
+9.0%
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.
−11.4%
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.
+5.1%
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.
+3.4%
Revenue −8.4%/yr
FY21 1.3B TWD
FY22 1.3B TWD
FY23 888M TWD
FY24 853M TWD
FY25 930M TWD
Net income −11.9%/yr
FY21 384M TWD
FY22 416M TWD
FY23 230M TWD
FY24 215M TWD
FY25 232M TWD
Character of growth · EPS growth decomposed (2012-2023) +11.9 % p.a.
Revenue per share +5.5 pp

of which total revenue +8.9 pp · buybacks/dilution −3.4 pp

EBIT margin +7.8 pp
Tax rate −0.9 pp
Residual (interest, one-offs) −0.4 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).

3169 screens 29% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "ASIX Electronics Corporation Fair Value". https://www.fairvalue-calculator.com/stock/3169

Peer Group

Semiconductors · 318 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 80 · Top 25%
Fair Value upside −29% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 24% · Top 25%
Operating margin (TTM) 27% · Top 25%
Revenue growth -5% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 30.1× · Cheaper than median
P/B 3.61× · Pricier than median
P/S (TTM) 7.20× · Pricier than median
P/FCF 0.8× · Cheaper than median
EV/EBITDA 19.8× · 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 0 · sector 0
FUTURE 0 · sector 60
PAST 47 · sector 25
HEALTH 0 · sector 97
DIVIDEND 0 · sector 22

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

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

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc 1MU €784.90 €185.67 -76%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is ASIX Electronics Corporation (3169) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 73.37 TWD versus a price of 103.00 TWD, about −29% (overvalued).
What is the fair value of 3169?
Our model-based fair value for ASIX Electronics Corporation is 73.37 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 103.00 TWD.
What is the quality score of 3169?
ASIX Electronics Corporation has a Quality Score of 80/100. 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 ASIX Electronics Corporation (3169)?
ASIX Electronics Corporation reported trailing-twelve-month revenue of about 916M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3169?
The net profit margin of ASIX Electronics Corporation is about 24.2%, meaning it keeps roughly 24.2% of revenue as net income. 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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