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Ardentec Corporation (3264) Fair Value & Analysis

Technology · TW · Market cap 113B TWD

AC Ardentec Corporation 3264 · TWO
Price207.50 TWD
Fair Value88.77 TWD
Upside-57.2%
Quality66/100
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Expensive Growth
Highly profitable · 21.4% net margin
Low debt · generates free cash flow
1.87% dividend yield
Ranks above peers (10/14)
Wide moat 72/100
Evidence: High Range 49.68 TWD – 137.40 TWD Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 24 days ago

Fair value updated Jul 16, 2026, revised from 89.03 TWD to 88.77 TWD (−0.3%) since Jul 9, 2026. Share price −10.6% over the past month.

A solid business, but screening 57% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (137.40 TWD). The favourable scenario is already priced in.
  • The model range is unusually wide (49.68 TWD to 137.40 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

257.00 TWD 27.75 TWD Fair Value 88.77 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 27.75 TWD – 257.00 TWD · fair‑value band 49.68 TWD – 137.40 TWD · the 207.50 TWD price screens above the 88.77 TWD fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Ardentec Corporation (3264) currently trades at 207.50 TWD, while our model-based Fair Value estimate is 88.77 TWD, implying the stock looks roughly 57.2% overvalued today. The Quality Score stands at 66/100 (solid 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, Ardentec Corporation generated revenue of 14.8B TWD at a net margin of 21.4%. Revenue grew 24.0% year over year. It earns a return on equity of 16.1%. Net debt stands at 7.9B TWD. Fundamentals as of Jul 16, 2026

Our scenario range runs from 49.68 TWD (bear case) to 137.40 TWD (bull case); at 207.50 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 20% below its 52-week high and 196% 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 -57%, 3264 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
Growth DCF 36.16 TWD 58.46 TWD 90.55 TWD 80
Residual Income 40.38 TWD 50.08 TWD 100.97 TWD 76
Rev-Margin DCF 38.60 TWD 68.73 TWD 103.47 TWD 74
All 26 models by family
DCF Models
FCF DCF 35.43 TWD 60.72 TWD 99.52 TWD 38
Owner Earnings 41.76 TWD 70.63 TWD 114.94 TWD 31
5Y Revenue Exit 38.60 TWD 68.86 TWD 107.65 TWD 39
5Y EBITDA Exit 86.56 TWD 158.95 TWD 244.38 TWD 41
5Y P/E Exit 58.62 TWD 106.46 TWD 157.00 TWD 38
10Y Revenue Exit 35.45 TWD 62.87 TWD 99.99 TWD 36
10Y EBITDA Exit 67.66 TWD 125.56 TWD 204.76 TWD 37
10Y P/E Exit 49.82 TWD 89.03 TWD 137.81 TWD 35
Earnings-Based
Graham-Dodd 40.75 TWD 129.39 TWD 172.42 TWD 54
Lynch FV 28.49 TWD 40.69 TWD 52.90 TWD 50
PEG = 1.0 28.49 TWD 40.69 TWD 52.90 TWD 46
EPV 49.74 TWD 59.56 TWD 68.16 TWD 59
Dividend Discount
Gordon GGM 36.73 TWD 76.36 TWD 121.14 TWD 70
DDM Multi-Stage 36.73 TWD 61.28 TWD 80.15 TWD 61
Multiples
P/E Multiple 89.90 TWD 119.86 TWD 149.83 TWD 63
P/S Multiple 55.50 TWD 74.00 TWD 92.50 TWD 58
P/B Multiple 76.41 TWD 101.88 TWD 127.35 TWD 55
EV/EBIT 92.38 TWD 126.23 TWD 160.08 TWD 53
EV/EBITDA 128.74 TWD 174.72 TWD 220.69 TWD 54
EV/Revenue 42.62 TWD 64.83 TWD 87.03 TWD 43
Asset-Based
NCAV (Graham) 20.31 TWD 27.21 TWD 40.61 TWD 50
Growth DCF
Growth DCF 36.16 TWD 58.46 TWD 90.55 TWD 80
Rev-Margin DCF 38.60 TWD 68.73 TWD 103.47 TWD 74
Economic Profit
Residual Income 40.38 TWD 50.08 TWD 100.97 TWD 76
ROIC Compounder 52.04 TWD 68.88 TWD 90.05 TWD 72
Growth Earnings
Growth-Adj P/E 75.25 TWD 107.50 TWD 139.76 TWD 68

Widest divergence: Growth Earnings (107.50 TWD) versus Asset-Based (27.21 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 14.8B TWD
Revenue growth (YoY) +24.0%
Net margin 21.4%
Return on equity 16.1%
Free cash flow 1.9B TWD FY2025
P/E ratio 38.5
More key figures
Operating margin 27.5%
EPS (TTM) 5.94 TWD
Dividend yield 1.8%
EPS growth (YoY) +54.8%
Net debt 7.9B TWD FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 64 · Market factors (momentum, volatility) 69

Profitability 49
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 86
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 86
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

Ardentec Corporation engages in the provision of semiconductor testing solutions in memory, logic, and mixed-signal ICs to integrated device manufacturers, pure play wafer foundry companies, and fabless design companies in the United States, Taiwan, Singapore, Korea, China, Europe, and internationally.

Full company description

Ardentec Corporation engages in the provision of semiconductor testing solutions in memory, logic, and mixed-signal ICs to integrated device manufacturers, pure play wafer foundry companies, and fabless design companies in the United States, Taiwan, Singapore, Korea, China, Europe, and internationally. It offers testing services, which include engineering services before mass production, such as test engineering consultations and recommendations for design, test plan and test program development, new product introduction process, test program cross-platform conversion, remote tester usage, complete product characterization, and laser program development and analysis; and mass production engineering services, including suggestions and services of test time reduction, yield analysis and enhancement, laser repair yield analysis and improvement, timely retrieval of test data on secured Internet, test program management system, traceable test program management system, test data analysis and periodical report provision, and outlier management services, as well as stable testing services. The company also provides probe card design and consultant, outsourced manufacturing, maintenance and repair capability, and system tracking of usage and maintenance; wafer level chip scale packaging backend process services; and final test and wafer probing platforms. In addition, it offers certification, quality engineering analysis, and quality system and assurance structure services, as well as quality, information security, and hazardous substance free policy services. The company was founded in 1999 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

Ardentec Corporation reported revenue of 14.0B TWD in FY2025 versus 11.9B TWD in FY2021, a compound +4.1%/yr. Reported net income was 2.8B TWD in FY2025, compounding +2.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
14.0B TWD
Latest YoY
+7.1%
Avg. growth/yr (3Y)
−1.1%
Avg. growth/yr (5Y)
+7.7%
Avg. growth/yr (8Y)
+7.5%
Revenue +4.1%/yr
FY21 11.9B TWD
FY22 14.5B TWD
FY23 14.1B TWD
FY24 13.1B TWD
FY25 14.0B TWD
Net income +2.4%/yr
FY21 2.6B TWD
FY22 3.5B TWD
FY23 2.7B TWD
FY24 2.1B TWD
FY25 2.8B TWD

3264 screens 57% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "Ardentec Corporation Fair Value". https://www.fairvalue-calculator.com/stock/3264

Peer Group

Semiconductors · 319 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 66 · Above median
Fair Value upside −57% · Below median
Return on equity (TTM) 16% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 21% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 24% · Above median
Dividend yield (TTM) 1.9% · Above median
Debt / equity 0.34× · Higher than 75% of peers

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 39.9× · Cheaper than median
P/B 5.85× · Pricier than median
P/S (TTM) 7.61× · Pricier than median
P/FCF 1.9× · Cheaper than median
EV/EBITDA 17.4× · 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 60
PAST 64 · sector 24
HEALTH 83 · sector 97
DIVIDEND 37 · sector 22

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.

Similar stocks

10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Jul 16, 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 Ardentec Corporation (3264) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 88.77 TWD versus a price of 207.50 TWD, about −57% (overvalued).
What is the fair value of 3264?
Our model-based fair value for Ardentec Corporation is 88.77 TWD (as of Jul 16, 2026), built from audited fundamentals. The current price is 207.50 TWD.
What is the quality score of 3264?
Ardentec Corporation has a Quality Score of 66/100. 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 Ardentec Corporation (3264)?
Ardentec Corporation reported trailing-twelve-month revenue of about 14.8B TWD (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 3264?
The net profit margin of Ardentec Corporation is about 21.4%, meaning it keeps roughly 21.4% of revenue as net income. Based on the latest reported figures.
Does Ardentec Corporation pay a dividend?
Ardentec Corporation currently shows a dividend yield of about 1.78% relative to its recent price (as of Jul 16, 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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