Cincon Electronics Co Ltd (3332) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Cincon Electronics Co Ltd TWD 58.97, price TWD 61.50, upside -4.1%, quality 74 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 Sep 24, 2026.
How to read this chart
60‑month range 31.37 TWD – 79.50 TWD · fair‑value band 47.98 TWD – 76.66 TWD · the 61.50 TWD price screens above the 58.97 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Cincon Electronics Co., Ltd. designs, manufactures, and sells switch mode power conversion products to the communications, computer, industrial, medical, consumer, and lighting markets in Asia, Europe, the Americas, Africa, and Oceania.
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Cincon Electronics Co., Ltd. designs, manufactures, and sells switch mode power conversion products to the communications, computer, industrial, medical, consumer, and lighting markets in Asia, Europe, the Americas, Africa, and Oceania. The company's products include single and multiple output DC-DC converters from 1W to 750W, single and multiple output AC-DC adapters from 5W to 220W, AC-DC brick power from 70W to 700W, AC-DC encapsulated power from 4W to 60W, and open frame AC-DC power supplies from 4W to 700W. It also provides modified standard and custom power conversion products. Cincon Electronics Co., Ltd. was founded in 1991 and is headquartered in Taipei, Taiwan.
Stock analysis
Cincon Electronics Co Ltd (3332) currently trades at 61.50 TWD, while our model-based Fair Value estimate is 58.97 TWD, implying the stock looks roughly 4.3% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 61.80 TWD per share, and 8 of the 25 models we run sit above the 61.50 TWD price.
Bear case: the Dividend Discount group reads lowest at 10.15 TWD, and 17 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: 47.98 TWD (bear) to 76.66 TWD (bull), the price of 61.50 TWD sits inside 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 74/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Cincon Electronics Co Ltd reported revenue of 1.6B TWD in FY2025 versus 1.2B TWD in FY2021, a compound +7.2%/yr. Reported net income was 170M TWD in FY2025, compounding +12.5%/yr from FY2021.
Key figures
Market cap 3.0B TWD (≈ $92.9M) · P/E ratio 15.6 · P/S ratio 1.66 · EPS (TTM) 3.95 TWD · Dividend yield 3.3% · Net margin 10.6% · Return on equity 10.7% · Return on assets (EBIT) 7.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −29% fair-value upside, at −4%, 3332 screens cheaper than that median.
Fair Value models
Bear 47.98 TWDFair Value 58.97 TWDBull 76.66 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.43 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.Evidence ⓘEvidence = 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+19.4%
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.
−2.3%
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.
+8.7%
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.
+4.0%
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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.
+13.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.9%
Dividend (yield on the price)3.3%
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.14% → 10%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +4.7% a year for the price.
Compare Cincon Electronics Co Ltd with another stock
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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.Electrical Equipment & Parts · 552 stocks
Beats the industry median on 14/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score74 · Top 25%
Fair Value upside−2% · Above median
Profitability
Return on equity (TTM)11% · Above median
Return on assets4% · Above median
Net margin (TTM)11% · Top 25%
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth12% · Above median
Dividend yield (TTM)3.3% · Top 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Cincon Electronics Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3332
Frequently asked questions
Is Cincon Electronics Co Ltd (3332) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 58.97 TWD versus a price of 61.50 TWD, about −4% upside (fairly valued).
What is the fair value of 3332?
Our model-based fair value for Cincon Electronics Co Ltd is 58.97 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 61.50 TWD.
What is the quality score of 3332?
Cincon Electronics Co Ltd has a Quality Score of 74/100. 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 Cincon Electronics Co Ltd (3332)?
Our model-based price target is the fair value of 58.97 TWD (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 47.98 TWD, optimistic scenario 76.66 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Cincon Electronics Co Ltd stock forecast for 2026?
Our models put fair value at 58.97 TWD, about −4% upside versus a price of 61.50 TWD (fairly valued). Cautious scenario 47.98 TWD, optimistic scenario 76.66 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Cincon Electronics Co Ltd (3332)?
Cincon Electronics Co Ltd reported trailing-twelve-month revenue of about 1.7B TWD (latest available figure, as of Sep 24, 2026).
Does Cincon Electronics Co Ltd pay a dividend?
Cincon Electronics Co Ltd currently shows a dividend yield of about 3.25% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Cincon Electronics Co Ltd (3332)?
For today's price to be fair in a discounted-cash-flow model, Cincon Electronics Co Ltd would have to grow free cash flow by +6.3 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 3332 use?
Our models discount Cincon Electronics Co Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.32, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cincon Electronics Co Ltd that is +6.3 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Cincon Electronics Co Ltd (3332) delivered so far?
Over the past 5 years revenue at Cincon Electronics Co Ltd grew +8.7 % a year. The price currently implies +6.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cincon Electronics Co Ltd (3332) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Cincon Electronics Co Ltd (+6.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cincon Electronics Co Ltd (3332)?
The free-cash-flow yield on the price is 5.83 %: that much free cash flow Cincon Electronics Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cincon Electronics Co Ltd (3332)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cincon Electronics Co Ltd it is 58.97 TWD per share (as of Sep 24, 2026), against a price of 61.50 TWD. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Cincon Electronics Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3332 trades above its calculated fair value: price 61.50 TWD, fair value 58.97 TWD, a gap of about −4% (fairly valued). 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 3332?
No. The price is what the market pays today (61.50 TWD); the fair value is what the company's own numbers justify (58.97 TWD). For Cincon Electronics Co Ltd the two are 2.53 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Cincon Electronics Co Ltd worth?
The market values Cincon Electronics Co Ltd at about 3.0B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 61.50 TWD; our models calculate a fair value of 58.97 TWD per share.
What do the bullish and bearish scenarios say about 3332?
Our models span a range for Cincon Electronics Co Ltd: cautious scenario 47.98 TWD, base 58.97 TWD, optimistic 76.66 TWD per share (as of Sep 24, 2026, price 61.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3332?
Cincon Electronics Co Ltd trades at a price-to-earnings ratio of 15.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 58.97 TWD is built from several models across several years. Other multiples: P/B 1.6, P/S 1.7, EV/EBITDA 9.6.
How solid is the balance sheet of Cincon Electronics Co Ltd (3332)?
Balance-sheet figures for Cincon Electronics Co Ltd (as of Sep 24, 2026): return on equity 10.7%, debt of 0.01 per unit of equity. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is 3332 from its 52-week high?
Cincon Electronics Co Ltd trades at 61.50 TWD, about 23% below its 52-week high of 79.50 TWD and 21% above the low of 50.70 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 58.97 TWD is for.
Which stocks are comparable to Cincon Electronics Co Ltd?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Prysmian S.p.A, 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 Cincon Electronics Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 61.50 TWD, calculated fair value 58.97 TWD (−4%), Quality Score 74/100, from 25 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 3332 calculated?
We run Cincon Electronics Co Ltd through 25 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 58.97 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 13.2 % above its aggregate fair value. Cincon Electronics 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 Cincon Electronics Co Ltd (3332)?
The closing price on Sep 24, 2026 was 61.50 TWD. Our model-based fair value is 58.97 TWD, about −4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cincon Electronics Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Cincon Electronics Co Ltd
How large is the market capitalisation of Cincon Electronics Co Ltd (3332)?
The market capitalisation of Cincon Electronics Co Ltd is 3.0B TWD (≈ $92.9M). 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 Cincon Electronics Co Ltd (3332)?
The price-to-sales ratio of Cincon Electronics Co Ltd is 1.66 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cincon Electronics Co Ltd (3332)?
Earnings per share at Cincon Electronics Co Ltd are 3.95 TWD (price ÷ EPS = P/E 15.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cincon Electronics Co Ltd (3332)?
The dividend yield of Cincon Electronics Co Ltd is 3.3% (payout 50.6%). 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 Cincon Electronics Co Ltd (3332)?
The net margin of Cincon Electronics Co Ltd is 10.6% (fiscal year 2025). 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 Cincon Electronics Co Ltd (3332)?
The return on equity (ROE) of Cincon Electronics Co Ltd is 10.7% (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 Cincon Electronics Co Ltd (3332)?
On an EBIT basis the return on assets of Cincon Electronics Co Ltd is 7.5% (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 Cincon Electronics Co Ltd (3332)?
The operating margin of Cincon Electronics Co Ltd is 9.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cincon Electronics Co Ltd (3332)?
Revenue at Cincon Electronics Co Ltd is growing +12.1% versus a year earlier (3y avg −2.3%). 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 Cincon Electronics Co Ltd (3332)?
Earnings per share at Cincon Electronics Co Ltd are growing +2.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Cincon Electronics Co Ltd (3332) hold?
Cincon Electronics Co Ltd holds more cash than debt, 643M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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