Topower Co Ltd (3226) fair value: what the stock is really worth
As of Oct 22, 2026: fair value (intrinsic value) of Topower Co Ltd stock TWD 14.34, price TWD 49.50, upside -71.0%, quality 44 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?No
Good quality?No
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 25, 2026.
How to read this chart
60‑month range 39.45 TWD – 71.38 TWD · fair‑value band 13.15 TWD – 14.76 TWD · the 49.50 TWD price screens above the 14.34 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 25, 2026.
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LFA Co., Ltd. engages in the manufacture and sale of automotive components, electronic components, and power supplies in Taiwan. It offers LED headlight, truck headlight, fog light, car LED tail lamp, and truck LED headlight.
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The company was formerly known as Topower Co., Ltd. and changed its name to LFA Co., Ltd. in December 2024. LFA Co., Ltd. was founded in 1975 and is headquartered in Tainan City, Taiwan.
Stock analysis
Topower Co Ltd (3226) currently trades at 49.50 TWD, while our model-based Fair Value estimate is 14.34 TWD, 71.0% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 17.31 TWD per share, and 2 of the 14 models we run sit above the 49.50 TWD price.
Bear case: the Earnings-Based group reads lowest at 2.04 TWD, and 12 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 13.15 TWD (bear) to 14.76 TWD (bull), the price of 49.50 TWD sits above 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 44/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Topower Co Ltd reported revenue of 1.6B TWD in FY2025 versus 2.9B TWD in FY2021, a compound −13.9%/yr. Reported net income was 15.8M TWD in FY2025, compounding −48.9%/yr from FY2021.
Key figures
Market cap 3.2B TWD (≈ $97.9M) Micro · P/E ratio 275.0 · P/S ratio 2.50 · EPS (TTM) 0.1800 TWD · Dividend yield 0.8% · Net margin 0.9% · Return on equity 0.6% · Return on assets (EBIT) 13.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 21 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −24% fair-value upside, at −71%, 3226 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (2.04 TWD to 131.34 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear13.15 TWDFair Value 14.34 TWDBull14.76 TWD
Price 49.50 TWD · Upside -71.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.1470 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.8/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−24.5%
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.
−10.5%
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.
−8.4%
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.
+1.8%
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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.
−42.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−43.3%
Dividend (yield on the price)0.8%
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.16% → 4%
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.Auto Parts · 649 stocks
Beats the industry median on 0/12 measures
Overall it trails its industry peers.
Valuation
Quality Score44 · Bottom 25%
Fair Value upside−71.0% · Bottom 25%
Profitability
Return on equity (12 months)0.6% · Bottom 25%
Return on assets0.6% · Bottom 25%
Net margin (12 months)0.9% · Bottom 25%
Operating margin (12 months)−8.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−33.1% · Bottom 25%
Dividend yield (12 months)0.8% · Below median
Valuation Multiplesvs Auto Parts median · lower = cheaper
P/E (12 months)275.0× · Priciest 25%
P/B1.70× · Pricier than median
P/S (12 months)2.50× · Priciest 25%
EV/EBITDA14.0× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 33
FUTURE (revenue growth)0· sector 31
PAST (return on equity)3· sector 30
HEALTH (low debt)0· sector 95
DIVIDEND (yield)16· sector 38
VALUE 0: the price sits above our fair-value range.
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). "Topower Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3226
Frequently asked questions
Is Topower Co Ltd (3226) overvalued or undervalued?
As of Oct 25, 2026, our model estimates a fair value of 14.34 TWD versus a price of 49.50 TWD, about −71% upside (overvalued).
What is the fair value of 3226?
Our model-based fair value for Topower Co Ltd is 14.34 TWD (as of Oct 25, 2026), built from audited fundamentals. The current price: 49.50 TWD.
What is the quality score of 3226?
Topower Co Ltd 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 price target for Topower Co Ltd (3226)?
Our model-based price target is the fair value of 14.34 TWD (as of Oct 25, 2026) from 14 valuation models. Cautious scenario 13.15 TWD, optimistic scenario 14.76 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Topower Co Ltd stock forecast for 2026?
Our models put fair value at 14.34 TWD, about −71% upside versus a price of 49.50 TWD (overvalued). Cautious scenario 13.15 TWD, optimistic scenario 14.76 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Topower Co Ltd (3226)?
Topower Co Ltd reported trailing-twelve-month revenue of about 1.3B TWD (latest available figure, as of Oct 25, 2026).
Does Topower Co Ltd pay a dividend?
Topower Co Ltd currently shows a dividend yield of 0.79% relative to its recent price (as of Oct 25, 2026).
What is the intrinsic value of Topower Co Ltd (3226)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Topower Co Ltd it is 14.34 TWD per share (as of Oct 25, 2026), against a price of 49.50 TWD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Topower Co Ltd stock overvalued or undervalued in 2026?
As of Oct 25, 2026, 3226 trades above its calculated fair value: price 49.50 TWD, fair value 14.34 TWD, a gap of about −71% (overvalued). 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 3226?
No. The price is what the market pays today (49.50 TWD); the fair value is what the company's own numbers justify (14.34 TWD). For Topower Co Ltd the two are 35.16 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Topower Co Ltd worth?
The market values Topower Co Ltd at about 3.2B TWD (market capitalisation, as of Oct 25, 2026). Per share that is 49.50 TWD; our models calculate a fair value of 14.34 TWD per share.
What do the bullish and bearish scenarios say about 3226?
Our models span a range for Topower Co Ltd: cautious scenario 13.15 TWD, base 14.34 TWD, optimistic 14.76 TWD per share (as of Oct 25, 2026, price 49.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3226?
Topower Co Ltd trades at a price-to-earnings ratio of 275.0 (as of Oct 25, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 14.34 TWD is built from several models across several years. Other multiples: P/B 1.7, P/S 2.5, EV/EBITDA 14.0.
How solid is the balance sheet of Topower Co Ltd (3226)?
Balance-sheet figures for Topower Co Ltd (as of Oct 25, 2026): return on equity 0.6%. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 3226 from its 52-week high?
Topower Co Ltd trades at 49.50 TWD, about 24% below its 52-week high of 65.00 TWD and 25% above the low of 39.50 TWD (as of Oct 22, 2026). Distance from the high says nothing about value: that is what the fair value of 14.34 TWD is for.
Which stocks are comparable to Topower Co Ltd?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Topower Co Ltd stock attractive at the current price?
The data as of Oct 25, 2026: price 49.50 TWD, calculated fair value 14.34 TWD (−71%), Quality Score 44/100, from 14 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 3226 calculated?
We run Topower Co Ltd through 14 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 14.34 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 12.3 % above its aggregate fair value. Topower Co Ltd itself currently trades above fair value. 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 Topower Co Ltd (3226)?
The closing price on Oct 22, 2026 was 49.50 TWD. Our model-based fair value is 14.34 TWD, about −71% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Topower Co Ltd right now?
The price sits above even our optimistic bull case (14.76 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. The models converge in a tight band (13.15 TWD to 14.76 TWD), unusually little disagreement for a valuation.
Key figures of Topower Co Ltd
How large is the market capitalisation of Topower Co Ltd (3226)?
The market capitalisation of Topower Co Ltd is 3.2B TWD (≈ $97.9M). 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 Topower Co Ltd (3226)?
The price-to-sales ratio of Topower Co Ltd is 2.50 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Topower Co Ltd (3226)?
Earnings per share at Topower Co Ltd are 0.1800 TWD (price ÷ EPS = P/E 275.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Topower Co Ltd (3226)?
The dividend yield of Topower Co Ltd is 0.8%. 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 Topower Co Ltd (3226)?
The net margin of Topower Co Ltd is 0.9% (last twelve months). 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 Topower Co Ltd (3226)?
The return on equity (ROE) of Topower Co Ltd is 0.6% (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 Topower Co Ltd (3226)?
On an EBIT basis the return on assets of Topower Co Ltd is 13.0% (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 Topower Co Ltd (3226)?
The operating margin of Topower Co Ltd is −8.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Topower Co Ltd (3226)?
Revenue at Topower Co Ltd is growing −33.1% versus a year earlier (3y avg −10.5%). 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 Topower Co Ltd (3226)?
Earnings per share at Topower Co Ltd are growing −98.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Topower Co Ltd (3226) generate?
The free cash flow of Topower Co Ltd is −112M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Topower Co Ltd (3226) hold?
Topower Co Ltd holds more cash than debt, 222M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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Some data
Oct 25, 2026