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Argosy Research Inc (3217) Fair Value & Analysis

Technology · TW · Market cap 13.7B TWD

AR Argosy Research Inc 3217 · TWO
Price142.00 TWD
Fair Value221.10 TWD
Upside+55.7%
Quality84/100
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Healthy Growth
Highly profitable · 27.1% net margin
generates free cash flow
Ranks above peers (9/13)
Wide moat 87/100
Evidence: High Range 166.30 TWD – 272.62 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 17 days ago

Share price −8.1% over the past month.

A strong business, screening 56% undervalued on our models.

What matters now

  • The rarer combination: high quality (84/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (166.30 TWD). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

195.07 TWD 48.10 TWD Fair Value 221.10 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 48.10 TWD – 195.07 TWD · fair‑value band 166.30 TWD – 272.62 TWD · the 142.00 TWD price screens below the 221.10 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Argosy Research Inc (3217) currently trades at 142.00 TWD, while our model-based Fair Value estimate is 221.10 TWD, implying the stock looks roughly 55.7% undervalued today. The Quality Score stands at 84/100 (high 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: high), always confirm before acting.

Over the trailing twelve months, Argosy Research Inc generated revenue of 4.2B TWD at a net margin of 27.1%. Revenue grew 2.6% year over year. It earns a return on equity of 22.4%. The balance sheet holds a net cash position of 1.4B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 166.30 TWD (bear case) to 272.62 TWD (bull case); at 142.00 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 33% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 56%, 3217 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 BearBaseBull Evidence
Highest evidence
Residual Income 77.98 TWD 95.06 TWD 294.91 TWD 76
Growth DCF 174.90 TWD 300.81 TWD 521.04 TWD 72
Gordon GGM 80.80 TWD 168.00 TWD 266.51 TWD 70
All 26 models by family
DCF Models
FCF DCF 177.36 TWD 318.61 TWD 575.23 TWD 38
Owner Earnings 178.65 TWD 321.07 TWD 579.80 TWD 31
5Y Revenue Exit 125.52 TWD 198.44 TWD 297.42 TWD 39
5Y EBITDA Exit 169.42 TWD 291.88 TWD 448.74 TWD 41
5Y P/E Exit 192.41 TWD 340.80 TWD 515.48 TWD 38
10Y Revenue Exit 138.50 TWD 215.04 TWD 333.47 TWD 36
10Y EBITDA Exit 170.87 TWD 284.78 TWD 464.18 TWD 37
10Y P/E Exit 186.32 TWD 321.30 TWD 521.82 TWD 35
Earnings-Based
Graham-Dodd 86.26 TWD 445.05 TWD 615.31 TWD 54
Lynch FV 121.57 TWD 173.67 TWD 225.77 TWD 50
PEG = 1.0 121.57 TWD 173.67 TWD 225.77 TWD 46
EPV 138.34 TWD 157.84 TWD 174.89 TWD 59
Dividend Discount
Gordon GGM 80.80 TWD 168.00 TWD 266.51 TWD 70
DDM Multi-Stage 80.80 TWD 141.66 TWD 176.32 TWD 61
Multiples
P/E Multiple 190.29 TWD 253.72 TWD 317.15 TWD 63
P/S Multiple 86.33 TWD 115.10 TWD 143.88 TWD 58
P/B Multiple 116.81 TWD 155.75 TWD 194.68 TWD 55
EV/EBIT 216.45 TWD 281.47 TWD 346.49 TWD 53
EV/EBITDA 175.96 TWD 227.48 TWD 279.00 TWD 54
EV/Revenue 101.97 TWD 136.50 TWD 171.03 TWD 43
Asset-Based
NCAV (Graham) 25.96 TWD 34.78 TWD 51.92 TWD 50
Growth DCF
Growth DCF 174.90 TWD 300.81 TWD 521.04 TWD 72
Rev-Margin DCF 125.52 TWD 197.16 TWD 293.04 TWD 67
Economic Profit
Residual Income 77.98 TWD 95.06 TWD 294.91 TWD 76
ROIC Compounder 152.75 TWD 192.97 TWD 241.83 TWD 67
Growth Earnings
Growth-Adj P/E 178.02 TWD 254.32 TWD 330.61 TWD 68

Widest divergence: DCF Models (291.88 TWD) versus Asset-Based (34.78 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 4.2B TWD
Revenue growth (YoY) +2.6%
Net margin 27.1%
Return on equity 22.4%
Free cash flow 1.0B TWD FY2025
P/E ratio 13.4
More key figures
Operating margin 31.1%
EPS (TTM) 12.69 TWD
EPS growth (YoY) -32.5%
Net cash 1.4B TWD FY2023

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 84/100

Of which business quality 81 · Market factors (momentum, volatility) 35

Profitability 78
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 19
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

Argosy Research Inc. manufactures and sells of electronic components and connectors in Asia, the United States, and internationally. It offers LPDDR5 CAMM2; DDR SODIMM; DDR DIMM; TYPE-C; PCI EXPRESS; M.2 / NGFF; LVDS; RF; SPI Flash; and Customized Connectors. It also provides fine-pitch, high pin-count, SMT-type, and high-frequency connectors.

Full company description

Argosy Research Inc. manufactures and sells of electronic components and connectors in Asia, the United States, and internationally. It offers LPDDR5 CAMM2; DDR SODIMM; DDR DIMM; TYPE-C; PCI EXPRESS; M.2 / NGFF; LVDS; RF; SPI Flash; and Customized Connectors. It also provides fine-pitch, high pin-count, SMT-type, and high-frequency connectors. In addition, it offers ODM and OEM development services. Further, it offers DDR SODIMM; M.2; DDR DIMM; USB Type-C; and micro stamping parts. Argosy Research Inc. 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

Argosy Research Inc reported revenue of 4.1B TWD in FY2025 versus 3.0B TWD in FY2021, a compound +8.3%/yr. Reported net income was 1.1B TWD in FY2025, compounding +15.6%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
4.1B TWD
Latest YoY
+19.4%
Avg. growth/yr (3Y)
+16.7%
Avg. growth/yr (5Y)
+9.8%
Avg. growth/yr (8Y)
+13.0%
Revenue +8.3%/yr
FY21 3.0B TWD
FY22 2.6B TWD
FY23 3.0B TWD
FY24 3.5B TWD
FY25 4.1B TWD
Net income +15.6%/yr
FY21 640M TWD
FY22 611M TWD
FY23 729M TWD
FY24 1.0B TWD
FY25 1.1B TWD

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Cite: Fair Value Calculator (2026). "Argosy Research Inc Fair Value". https://www.fairvalue-calculator.com/stock/3217

Peer Group

Electronic Components · 626 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 84 · Top 25%
Fair Value upside +56% · Top 25%
Return on equity (TTM) 22% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 27% · Top 25%
Operating margin (TTM) 31% · Top 25%
Revenue growth 3% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 12.1× · Cheaper than 75% of peers
P/B 2.93× · Pricier than median
P/S (TTM) 3.28× · Pricier than median
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 8.3× · 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 13 · sector 32
PAST 90 · sector 24
HEALTH 0 · sector 95
DIVIDEND 0 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Argosy Research Inc (3217) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 221.10 TWD versus a price of 142.00 TWD, about +56% (undervalued).
What is the fair value of 3217?
Our model-based fair value for Argosy Research Inc is 221.10 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 142.00 TWD.
What is the quality score of 3217?
Argosy Research Inc has a Quality Score of 84/100. 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 Argosy Research Inc (3217)?
Argosy Research Inc reported trailing-twelve-month revenue of about 4.2B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3217?
The net profit margin of Argosy Research Inc is about 27.1%, meaning it keeps roughly 27.1% 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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