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Aethertek technology co., Ltd (3219) Fair Value & Analysis

Industrials · TW · Market cap 4.6B TWD

AT Aethertek technology co., Ltd 3219 · TWO
Price71.40 TWD
Fair Value31.72 TWD
Upside-55.6%
Quality65/100
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Mixed Growth
Thin margins · 7.9% net margin
Low debt · generates free cash flow
2.06% dividend yield
Ranks above peers (9/14)
Narrow moat 41/100
Evidence: Medium Range 23.79 TWD – 39.65 TWD Share as image

Fair value as of: Jul 23, 2026

From 24 valuation models · updated 18 days ago

Share price −8.8% over the past month.

A solid business, but screening 56% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (39.65 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

178.79 TWD 25.80 TWD Fair Value 31.72 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 25.80 TWD – 178.79 TWD · fair‑value band 23.79 TWD – 39.65 TWD · the 71.40 TWD price screens above the 31.72 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Aethertek technology co., Ltd (3219) currently trades at 71.40 TWD, while our model-based Fair Value estimate is 31.72 TWD, implying the stock looks roughly 55.6% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials 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: medium).

Over the trailing twelve months, Aethertek technology co., Ltd generated revenue of 1.9B TWD at a net margin of 7.9%. Revenue grew 53.3% year over year. It earns a return on equity of 9.9%. The balance sheet holds a net cash position of 651M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 23.79 TWD (bear case) to 39.65 TWD (bull case); at 71.40 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 36% below its 52-week high and 66% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -56%, 3219 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
Growth DCF 20.53 TWD 29.48 TWD 43.91 TWD 80
Residual Income 15.85 TWD 16.81 TWD 18.40 TWD 76
Rev-Margin DCF 32.49 TWD 53.06 TWD 95.85 TWD 74
All 24 models by family
DCF Models
FCF DCF 21.17 TWD 26.86 TWD 44.62 TWD 38
Owner Earnings 39.48 TWD 74.58 TWD 145.57 TWD 31
5Y Revenue Exit 30.26 TWD 47.78 TWD 84.70 TWD 39
5Y EBITDA Exit 39.77 TWD 67.00 TWD 120.58 TWD 41
5Y P/E Exit 31.20 TWD 59.86 TWD 99.48 TWD 38
10Y Revenue Exit 26.90 TWD 53.46 TWD 72.57 TWD 36
10Y EBITDA Exit 34.59 TWD 73.47 TWD 144.27 TWD 37
10Y P/E Exit 28.48 TWD 55.44 TWD 101.00 TWD 35
Earnings-Based
Graham-Dodd 10.27 TWD 71.63 TWD 100.52 TWD 54
Lynch FV 37.01 TWD 52.87 TWD 68.73 TWD 50
PEG = 1.0 37.01 TWD 52.87 TWD 68.73 TWD 46
EPV 29.51 TWD 32.49 TWD 35.07 TWD 59
Multiples
P/E Multiple 23.79 TWD 31.72 TWD 39.65 TWD 63
P/S Multiple 19.26 TWD 25.68 TWD 32.10 TWD 58
P/B Multiple 19.26 TWD 25.68 TWD 32.10 TWD 55
EV/EBIT 40.06 TWD 49.87 TWD 59.69 TWD 53
EV/EBITDA 46.01 TWD 57.81 TWD 69.61 TWD 54
EV/Revenue 31.63 TWD 40.64 TWD 49.64 TWD 43
Asset-Based
NCAV (Graham) 9.72 TWD 13.03 TWD 19.45 TWD 50
Growth DCF
Growth DCF 20.53 TWD 29.48 TWD 43.91 TWD 80
Rev-Margin DCF 32.49 TWD 53.06 TWD 95.85 TWD 74
Economic Profit
Residual Income 15.85 TWD 16.81 TWD 18.40 TWD 76
ROIC Compounder 36.23 TWD 51.65 TWD 61.62 TWD 72
Growth Earnings
Growth-Adj P/E 48.40 TWD 69.15 TWD 89.89 TWD 68

Widest divergence: Growth Earnings (69.15 TWD) versus Asset-Based (13.03 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.9B TWD
Revenue growth (YoY) +53.3%
Net margin 7.9%
Return on equity 9.9%
Free cash flow 47.6M TWD FY2025
P/E ratio 41.8
More key figures
Operating margin 9.6%
EPS (TTM) 1.52 TWD
Dividend yield 2.1%
EPS growth (YoY) +181%
Net cash 651M TWD FY2023

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 63 · Market factors (momentum, volatility) 55

Profitability 45
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 77
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

Aethertek technology co., Ltd., together with its subsidiaries, manufactures and sells precision testing equipment for the consumer and automotive electronics, and AI server testing industries in Taiwan and China.

Full company description

Aethertek technology co., Ltd., together with its subsidiaries, manufactures and sells precision testing equipment for the consumer and automotive electronics, and AI server testing industries in Taiwan and China. It offers RF test products comprising up-down converters, RF switches, shield boxes, and passive antennas; board level tests; microprobe products, including sockets and board-to-board POGO blocks; and antenna-in-module, and antenna test and calibration products for 5G applications. The company's products provide functional test, device firm upgrade, radio frequency test, and product assembly test solutions for consumer electronics; reliability, function, and radio frequency test solutions for automotive electronics; in-circuit, board function, and boundary scan interconnect test solutions for servers; product system integration solutions for automation applications; and signaling and non-signaling test solutions for MMWAVE applications, as well as offers antenna, software, and hardware design; and software services. The company was formerly known as Service & Quality Group Co., Ltd. and changed its name to Aethertek technology co., Ltd. in April 2021. Aethertek technology co., Ltd. was incorporated in 1992 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Aethertek technology co., Ltd reported revenue of 1.7B TWD in FY2025 versus 2.1B TWD in FY2021, a compound −4.5%/yr. Reported net income was 108M TWD in FY2025, compounding −29.7%/yr from FY2021.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.7B TWD
Latest YoY
+49.7%
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.
+4.7%
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.
+80.1%
Avg. growth/yr (8Y) 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.
+9.0%
Revenue −4.5%/yr
FY21 2.1B TWD
FY22 1.5B TWD
FY23 1.2B TWD
FY24 1.1B TWD
FY25 1.7B TWD
Net income −29.7%/yr
FY21 445M TWD
FY22 153M TWD
FY23 28.6M TWD
FY24 21.0M TWD
FY25 108M TWD

3219 screens 56% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Aethertek technology co., Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3219

Peer Group

Specialty Industrial Machinery · 804 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 65 · Top 25%
Fair Value upside −56% · Below median
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth 53% · Top 25%
Dividend yield (TTM) 2.1% · Above median
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 41.8× · Pricier than median
P/B 3.27× · Pricier than median
P/S (TTM) 2.46× · Pricier than median
P/FCF 3.0× · Cheaper than median
EV/EBITDA 14.2× · 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 100 · sector 23
PAST 40 · sector 28
HEALTH 94 · sector 96
DIVIDEND 41 · sector 24

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.

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Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
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Frequently asked questions

Is Aethertek technology co., Ltd (3219) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 31.72 TWD versus a price of 71.40 TWD, about −56% (overvalued).
What is the fair value of 3219?
Our model-based fair value for Aethertek technology co., Ltd is 31.72 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 71.40 TWD.
What is the quality score of 3219?
Aethertek technology co., Ltd 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 revenue of Aethertek technology co., Ltd (3219)?
Aethertek technology co., Ltd reported trailing-twelve-month revenue of about 1.9B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3219?
The net profit margin of Aethertek technology co., Ltd is about 7.9%, meaning it keeps roughly 7.9% of revenue as net income. Based on the latest reported figures.
Does Aethertek technology co., Ltd pay a dividend?
Aethertek technology co., Ltd currently shows a dividend yield of about 1.83% relative to its recent price (as of Jul 23, 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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