Kingstate Electronics (3206) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Kingstate Electronics TWD 51.68, price TWD 34.60, upside +49.4%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Kingstate Electronics Corp. manufactures and sells acoustic products in Taiwan and internationally.
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Kingstate Electronics Corp. manufactures and sells acoustic products in Taiwan and internationally. The company offers various products, including piezo buzzers, magnetic buzzers, micro speakers, dynamic receivers, Bluetooth speakers, and electret condenser microphones; and audio products, such as earphones, wired and wireless headphones, Bluetooth headphones, sports headphones, gaming headphones, TWS products, wireless speakers, and PSAP products; speaker module/mic module products; and personal sound amplifiers, etc. It also provides OEM/ODM/JDM services for IP audio systems, comprising IP Horn Speaker, IP indoor speaker, and IP audio gateway device. The company's products are used in telecommunications, consumer electronics, AI and IoT devices, information technology, home appliances, automotive, security, medical and industrial equipment sectors. Kingstate Electronics Corp. was founded in 1977 and is headquartered in New Taipei City, Taiwan.
Stock analysis
Kingstate Electronics (3206) currently trades at 34.60 TWD, while our model-based Fair Value estimate is 51.68 TWD, implying the stock looks roughly 33.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 48.71 TWD per share, and 14 of the 22 models we run sit above the 34.60 TWD price.
Bear case: the Earnings-Based group reads lowest at 16.81 TWD, and 8 of the 22 models stay below the price. Evidence for this calculation is high.
Scenario range: 42.47 TWD (bear) to 63.73 TWD (bull), the price of 34.60 TWD sits below 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 64/100 (solid quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Kingstate Electronics reported revenue of 3.2B TWD in FY2025 versus 4.3B TWD in FY2021, a compound −7.0%/yr. Reported net income was 119M TWD in FY2025, compounding −2.4%/yr from FY2021.
Key figures
Market cap 2.0B TWD (≈ $64.2M) · P/E ratio 20.1 · P/S ratio 0.75 · EPS (TTM) 1.72 TWD · Dividend yield 4.3% · Net margin 3.7% · Return on equity 6.4% · Return on assets (EBIT) 9.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 18% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −66% fair-value upside, at 49%, 3206 screens cheaper than that median.
Fair Value models
Bear 42.47 TWDFair Value 51.68 TWDBull 63.73 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 (0.1615 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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−13.2%
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.
−8.4%
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.
−1.2%
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.
+3.8%
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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.
−2.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.4%
Dividend (yield on the price)4.3%
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.6% → 5%
Growth Forecast
Little optimism in the price
The price assumes less 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).
−16.5%
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 −17.8% 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.Electronic Components · 654 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+49% · Top 25%
Profitability
Return on equity (TTM)6% · Below median
Return on assets2% · Above median
Net margin (TTM)3% · Below median
Operating margin (TTM)5% · Below median
Growth and dividend
Revenue growth−4% · Below median
Dividend yield (TTM)4.3% · Top 25%
Valuation Multiplesvs Electronic Components 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). "Kingstate Electronics Fair Value". https://www.fairvalue-calculator.com/stock/3206
Frequently asked questions
Is Kingstate Electronics (3206) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 51.68 TWD versus a price of 34.60 TWD, about +49% upside (undervalued).
What is the fair value of 3206?
Our model-based fair value for Kingstate Electronics is 51.68 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 34.60 TWD.
What is the quality score of 3206?
Kingstate Electronics has a Quality Score of 64/100. 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 Kingstate Electronics (3206)?
Our model-based price target is the fair value of 51.68 TWD (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 42.47 TWD, optimistic scenario 63.73 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Kingstate Electronics stock forecast for 2026?
Our models put fair value at 51.68 TWD, about +49% upside versus a price of 34.60 TWD (undervalued). Cautious scenario 42.47 TWD, optimistic scenario 63.73 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Kingstate Electronics (3206)?
Kingstate Electronics reported trailing-twelve-month revenue of about 3.1B TWD (latest available figure, as of Sep 24, 2026).
Does Kingstate Electronics pay a dividend?
Kingstate Electronics currently shows a dividend yield of about 4.34% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Kingstate Electronics (3206)?
For today's price to be fair in a discounted-cash-flow model, Kingstate Electronics would have to grow free cash flow by -16.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 3206 use?
Our models discount Kingstate Electronics at 11.8 %: a base by market capitalisation (micro), damped by beta 0.09, 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 Kingstate Electronics that is -16.5 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Kingstate Electronics (3206) delivered so far?
Over the past 5 years revenue at Kingstate Electronics grew -1.2 % a year. The price currently implies -16.5 % 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 Kingstate Electronics (3206) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Kingstate Electronics (-16.5 % 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 Kingstate Electronics (3206)?
The free-cash-flow yield on the price is 11.44 %: that much free cash flow Kingstate Electronics produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kingstate Electronics (3206)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kingstate Electronics it is 51.68 TWD per share (as of Sep 24, 2026), against a price of 34.60 TWD. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Kingstate Electronics stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3206 trades below its calculated fair value: price 34.60 TWD, fair value 51.68 TWD, a gap of about +49% (undervalued). 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 3206?
No. The price is what the market pays today (34.60 TWD); the fair value is what the company's own numbers justify (51.68 TWD). For Kingstate Electronics the two are 17.08 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Kingstate Electronics worth?
The market values Kingstate Electronics at about 2.0B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 34.60 TWD; our models calculate a fair value of 51.68 TWD per share.
What do the bullish and bearish scenarios say about 3206?
Our models span a range for Kingstate Electronics: cautious scenario 42.47 TWD, base 51.68 TWD, optimistic 63.73 TWD per share (as of Sep 24, 2026, price 34.60 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3206?
Kingstate Electronics trades at a price-to-earnings ratio of 20.1 (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 51.68 TWD is built from several models across several years. Other multiples: P/B 1.3, P/S 0.7, EV/EBITDA 8.9.
How solid is the balance sheet of Kingstate Electronics (3206)?
Balance-sheet figures for Kingstate Electronics (as of Sep 24, 2026): return on equity 6.4%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 3206 from its 52-week high?
Kingstate Electronics trades at 34.60 TWD, about 18% below its 52-week high of 42.00 TWD and 10% above the low of 31.40 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 51.68 TWD is for.
Which stocks are comparable to Kingstate Electronics?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Corning Incorporated, Hon Hai Precision Industry 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 Kingstate Electronics stock attractive at the current price?
The data as of Sep 24, 2026: price 34.60 TWD, calculated fair value 51.68 TWD (+49%), Quality Score 64/100, 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 3206 calculated?
We run Kingstate Electronics 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 51.68 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 14.0 % above its aggregate fair value. Kingstate Electronics currently trades 49 % 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 Kingstate Electronics (3206)?
The closing price on Sep 24, 2026 was 34.60 TWD. Our model-based fair value is 51.68 TWD, about +49% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kingstate Electronics right now?
The price is below even our cautious bear case (42.47 TWD). The market is more pessimistic than our downside scenario. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Kingstate Electronics
How large is the market capitalisation of Kingstate Electronics (3206)?
The market capitalisation of Kingstate Electronics is 2.0B TWD (≈ $64.2M). 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 Kingstate Electronics (3206)?
The price-to-sales ratio of Kingstate Electronics is 0.75 (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 Kingstate Electronics (3206)?
Earnings per share at Kingstate Electronics are 1.72 TWD (price ÷ EPS = P/E 20.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kingstate Electronics (3206)?
The dividend yield of Kingstate Electronics is 4.3% (payout 87.2%). 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 Kingstate Electronics (3206)?
The net margin of Kingstate Electronics is 3.7% (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 Kingstate Electronics (3206)?
The return on equity (ROE) of Kingstate Electronics is 6.4% (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 Kingstate Electronics (3206)?
On an EBIT basis the return on assets of Kingstate Electronics is 9.2% (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 Kingstate Electronics (3206)?
The operating margin of Kingstate Electronics is 4.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kingstate Electronics (3206)?
Revenue at Kingstate Electronics is growing −3.6% versus a year earlier (3y avg −8.4%). 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 Kingstate Electronics (3206)?
Earnings per share at Kingstate Electronics are growing +14.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Kingstate Electronics (3206) hold?
Kingstate Electronics holds more cash than debt, 910M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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