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T-Flex Techvest PCB Co (3276) Fair Value & Analysis

Technology · TW · Market cap 1.3B TWD

TF T-Flex Techvest PCB Co 3276 · TWO
Price14.70 TWD
Fair Value4.41 TWD
Upside-70.0%
Quality41/100
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Weak Growth
Thin margins · 2.7% net margin
Low debt · negative free cash flow
Trails peers (2/12)
Narrow moat 13/100
Evidence: Medium Range 3.08 TWD – 5.73 TWD Share as image

Fair value as of: Jul 21, 2026

From 8 valuation models · updated 20 days ago

Share price −8.6% over the past month.

Below-average quality, and screening another 70% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (5.73 TWD). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (3.08 TWD to 5.73 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

27.34 TWD 10.21 TWD Fair Value 4.41 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 10.21 TWD – 27.34 TWD · fair‑value band 3.08 TWD – 5.73 TWD · the 14.70 TWD price screens above the 4.41 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

T-Flex Techvest PCB Co (3276) currently trades at 14.70 TWD, while our model-based Fair Value estimate is 4.41 TWD, implying the stock looks roughly 70.0% overvalued today. The Quality Score stands at 41/100 (below-average 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: medium).

Over the trailing twelve months, T-Flex Techvest PCB Co generated revenue of 507M TWD at a net margin of 2.7%. Revenue grew 1.1% year over year. It earns a return on equity of -2.2%. Net debt stands at 78.2M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 3.08 TWD (bear case) to 5.73 TWD (bull case); at 14.70 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 17% below its 52-week high and 16% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -70%, 3276 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 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
Residual Income 7.84 TWD 7.22 TWD 5.12 TWD 76
Growth-Adj P/E 3.08 TWD 4.41 TWD 5.73 TWD 68
P/E Multiple 4.41 TWD 5.88 TWD 7.35 TWD 63
All 8 models by family
DCF Models
Owner Earnings 10.73 TWD 13.17 TWD 17.27 TWD 31
Earnings-Based
Graham-Dodd 1.43 TWD 1.75 TWD 1.96 TWD 54
Multiples
P/E Multiple 4.41 TWD 5.88 TWD 7.35 TWD 63
P/S Multiple 2.68 TWD 3.57 TWD 4.46 TWD 58
P/B Multiple 2.68 TWD 3.57 TWD 4.46 TWD 55
Asset-Based
NCAV (Graham) 5.98 TWD 8.01 TWD 11.96 TWD 50
Economic Profit
Residual Income 7.84 TWD 7.22 TWD 5.12 TWD 76
Growth Earnings
Growth-Adj P/E 3.08 TWD 4.41 TWD 5.73 TWD 68

Widest divergence: DCF Models (13.17 TWD) versus Earnings-Based (1.75 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 507M TWD
Revenue growth (YoY) +1.1%
Net margin 2.7%
Return on equity -2.2%
Free cash flow −95.5M TWD FY2025
P/E ratio 87.1
More key figures
Operating margin -15.3%
EPS (TTM) 0.2100 TWD
EPS growth (YoY) +133%
Net debt 78.2M TWD FY2023

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 41 · Market factors (momentum, volatility) 53

Profitability 17
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 83
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

T-Flex Techvest PCB Co., Ltd. engages in the manufacture, processing, purchase, and sale of electronic parts and components, and printed circuit boards (PCB) in Taiwan, the United States, and internationally. The company offers mobile phone boards, communication boards, mother boards, TFT-LCD boards, and high-density interconnection boards.

Full company description

T-Flex Techvest PCB Co., Ltd. engages in the manufacture, processing, purchase, and sale of electronic parts and components, and printed circuit boards (PCB) in Taiwan, the United States, and internationally. The company offers mobile phone boards, communication boards, mother boards, TFT-LCD boards, and high-density interconnection boards. It also provides original equipment manufacturing services for PCBs inner layer and outer layer lamination; and PCB inner layer automatic optical inspection. The company's products are used for portable devices, keypads, camera modules, cellphones, auto CCD, LCM modules, notebooks, and digital camera, as well as TFT/STN -LCD/LCM, and PDA and DVD player applications. T-Flex Techvest PCB Co., Ltd. was founded in 1999 and is headquartered in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

T-Flex Techvest PCB Co reported revenue of 505M TWD in FY2025 versus 1.6B TWD in FY2021, a compound −25.3%/yr. Reported net income was 14.6M TWD in FY2025, compounding −35.0%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
505M TWD
Latest YoY
−43.5%
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.
−27.6%
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.
−16.7%
Avg. growth/yr (6Y) 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.
−7.1%
Revenue −25.3%/yr
FY21 1.6B TWD
FY22 1.3B TWD
FY23 1.3B TWD
FY24 894M TWD
FY25 505M TWD
Net income −35.0%/yr
FY21 82.2M TWD
FY22 60.4M TWD
FY23 54.8M TWD
FY24 −9.6M TWD
FY25 14.6M TWD

3276 screens 70% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "T-Flex Techvest PCB Co Fair Value". https://www.fairvalue-calculator.com/stock/3276

Peer Group

Electronic Components · 625 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 41 · Bottom 25%
Fair Value upside −70% · Bottom 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) -15% · Bottom 25%
Revenue growth 1% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 87.1× · Pricier than 75% of peers
P/B 1.53× · Cheaper than median
P/S (TTM) 2.52× · Pricier 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 6 · sector 32
PAST 0 · sector 24
HEALTH 99 · sector 95
DIVIDEND 0 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 21, 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 T-Flex Techvest PCB Co (3276) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 4.41 TWD versus a price of 14.70 TWD, about −70% (overvalued).
What is the fair value of 3276?
Our model-based fair value for T-Flex Techvest PCB Co is 4.41 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 14.70 TWD.
What is the quality score of 3276?
T-Flex Techvest PCB Co has a Quality Score of 41/100. 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 T-Flex Techvest PCB Co (3276)?
T-Flex Techvest PCB Co reported trailing-twelve-month revenue of about 507M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3276?
The net profit margin of T-Flex Techvest PCB Co is about 2.7%, meaning it keeps roughly 2.7% 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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