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Laster Tech Corp Ltd (3346) Fair Value & Analysis

Technology · TW · Market cap 2.5B TWD (≈ $79.8M) · ISIN TW0003346003

What is Laster Tech Corp Ltd really worth?

LT Laster Tech Corp Ltd 3346 · TW
Price18.95 TWD
Fair Value6.12 TWD
Upside−67.7%
Quality37/100

Below-average quality, and trading another 210% above our fair value of 6.12 TWD.

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Strengths

✓Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +14.5 %/yr)
!Loss over the last twelve months · -1.2% net margin · fiscal year 2025 0.2%
!Trails peers (3/13)
!Narrow moat 6/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 12 out of 100

For context

·0.58% dividend yield
Evidence: Low Range 4.60 TWD – 7.66 TWD

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from 2.19 TWD to 6.12 TWD (+179.5%) since Jul 21, 2026. Share price −6.0% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (7.66 TWD). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

58.69 TWD 15.30 TWD Fair Value 6.12 TWD Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 15.30 TWD – 58.69 TWD · fair‑value band 4.60 TWD – 7.66 TWD · the 18.95 TWD price screens above the 6.12 TWD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Laster Tech Corp Ltd (3346) currently trades at 18.95 TWD, while our model-based Fair Value estimate is 6.12 TWD, implying the stock looks roughly 209.6% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Technology sector. Bull case: the Asset-Based group reads highest at a median of 19.89 TWD per share, and 7 of the 24 models we run sit above the 18.95 TWD price. Bear case: the Earnings-Based group reads lowest at 1.47 TWD, and 17 of the 24 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Laster Tech Corp Ltd generated revenue of 8.2B TWD at a net margin of −1.2%. Revenue declined 17.3% year over year. It earns a return on equity of −2.7%. Net debt stands at 2.4B TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 4.60 TWD (bear case) to 7.66 TWD (bull case); at 18.95 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 30% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −59% fair-value upside, at −68%, 3346 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF 13.90 TWD 27.15 TWD 50.14 TWD 76
Residual Income 19.71 TWD 18.22 TWD 12.20 TWD 76
Growth DCF 13.64 TWD 25.33 TWD 44.66 TWD 75
All 24 models by family
DCF Models
FCF DCF 13.90 TWD 27.15 TWD 50.14 TWD 76
Owner Earnings 3.47 TWD 7.90 TWD 15.59 TWD 71
5Y Revenue Exit 4.39 TWD 6.61 TWD 9.19 TWD 73
5Y EBITDA Exit 24.99 TWD 50.23 TWD 82.91 TWD 73
5Y P/E Exit 4.78 TWD 7.44 TWD 10.27 TWD 71
10Y Revenue Exit 7.46 TWD 10.75 TWD 15.10 TWD 67
10Y EBITDA Exit 21.02 TWD 42.48 TWD 77.02 TWD 65
10Y P/E Exit 7.77 TWD 11.35 TWD 16.00 TWD 64
Earnings-Based
Graham-Dodd 0.7400 TWD 3.78 TWD 5.22 TWD 64
Lynch FV 1.03 TWD 1.47 TWD 1.91 TWD 61
PEG = 1.0 1.03 TWD 1.47 TWD 1.91 TWD 57
Dividend Discount
Gordon GGM 10.60 TWD 21.12 TWD 31.98 TWD 67
DDM Multi-Stage 10.60 TWD 18.25 TWD 22.29 TWD 67
Multiples
P/E Multiple 2.30 TWD 3.06 TWD 3.83 TWD 63
P/S Multiple 1.39 TWD 1.86 TWD 2.32 TWD 58
P/B Multiple 1.39 TWD 1.86 TWD 2.32 TWD 55
EV/EBIT 1.32 TWD 2.35 TWD 3.38 TWD 63
EV/EBITDA 32.79 TWD 44.31 TWD 55.83 TWD 67
EV/Revenue — 0.4600 TWD 1.13 TWD 50
Asset-Based
NCAV (Graham) 14.85 TWD 19.89 TWD 29.69 TWD 54
Growth DCF
Growth DCF 13.64 TWD 25.33 TWD 44.66 TWD 75
Rev-Margin DCF 4.39 TWD 6.79 TWD 10.01 TWD 72
Economic Profit
Residual Income 19.71 TWD 18.22 TWD 12.20 TWD 76
Growth Earnings
Growth-Adj P/E 1.83 TWD 2.61 TWD 3.39 TWD 67

Widest divergence: Asset-Based (19.89 TWD) versus Earnings-Based (1.47 TWD). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 172.3
P/S ratio 0.27 P/E × margin
EPS (TTM) 0.1100 TWD price ÷ EPS = P/E 172.3
Dividend yield 0.6% payout 100%
Net margin 0.2% FY2025
Return on equity −2.7% TTM
More key figures
Profitability
Return on assets (EBIT) 2.1% avg 5y
Operating margin −5.1% TTM
Growth
Revenue (TTM) 8.2B TWD TTM
Revenue growth (YoY) −17.3% 3y avg +8.9%
EPS growth (YoY) +28.8%
Balance sheet & cash flow
Free cash flow 149M TWD FY2025
Net debt 2.4B TWD FY2025 · ≈ 16.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 39 · Market factors (momentum, volatility) 35

Profitability 25
Margins and returns on capital today
Quality Growth 16
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 67
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Laster Tech Co., Ltd. manufactures and sells LED chips and components in Taiwan, China, and Thailand. The company offers automotive lighting products, including tail lights, brake lights, fog lights, turn signals, side markers, and day time running lamps; inline module inspection equipment; industrial, indoor, outdoor, and landscape lighting products; and …

Full company description

Laster Tech Co., Ltd. manufactures and sells LED chips and components in Taiwan, China, and Thailand. The company offers automotive lighting products, including tail lights, brake lights, fog lights, turn signals, side markers, and day time running lamps; inline module inspection equipment; industrial, indoor, outdoor, and landscape lighting products; and chip products, such as Lumileds LED chips. It also engages in the assembly and sale of LED automotive lighting and LED lighting fixtures-related products; and investment business. The company was founded in 1999 and is headquartered in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Laster Tech Corp Ltd reported revenue of 8.5B TWD in FY2025 versus 5.7B TWD in FY2021, a compound +10.8%/yr. Reported net income was 13.2M TWD in FY2025, compounding −39.2%/yr from FY2021.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
8.5B TWD
Latest YoY
−8.5%
Avg. revenue 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.
+8.9%
Avg. revenue 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.
+14.5%
Avg. revenue growth/yr (14Y) ⓘ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.
+16.3%
Value creation/yr (5Y, in TWD) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
−8.0% · in TWD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−8.6%
Dividend yield0.6%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −8.6% vs 10Y −22.3%, picking up
Operating margin (EBIT) ⓘ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.3.2% (2020) → 0.2% (2025) · falling
Worst earnings drop95% (2019) · in TWD
Revenue +10.8%/yr
FY21 5.7B TWD
FY22 6.6B TWD
FY23 8.5B TWD
FY24 9.3B TWD
FY25 8.5B TWD
Net income −39.2%/yr
FY21 96.2M TWD
FY22 31.0M TWD
FY23 311M TWD
FY24 271M TWD
FY25 13.2M TWD
Character of growth · EPS growth decomposed (2014-2025) −2.3 % p.a.
Revenue per share +4.9 %

of which total revenue +13.7 % · buybacks/dilution −7.7 %

EBIT margin −8.5 %
Tax rate +2.0 %
Residual (interest, one-offs) −0.2 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

3346 screens 210% overvalued. Compare with NVIDIA Corporation →

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6.12 TWD −210%Fair Value
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Cite: Fair Value Calculator (2026). "Laster Tech Corp Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3346

Peer Group

Semiconductors · 325 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 37 · Bottom 25%
Fair Value upside −68% · Below median
Return on assets −1% · Below median
Net margin (TTM) −1% · Below median
Operating margin (TTM) −5% · Bottom 25%
Revenue growth −17% · Bottom 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.53× · Higher than 75% of peers

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 172.3× · Pricier than 75% of peers
P/S (TTM) 0.01× · Cheaper than 75% of peers
P/FCF 0.5× · Cheaper than 75% of peers
EV/EBITDA 2.6× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 65
PAST0 · sector 25
HEALTH73 · sector 96
DIVIDEND12 · sector 18

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

Similar stocks

10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $227.98 $98.98 −57%
Taiwan Semiconductor Manufacturing Company TSM $427.30 $296.10 −31%
Broadcom Inc AVGO $371.54 $118.27 −68%
SK hynix Inc 000660 1,647,000 KRW 1,481,291 KRW −10%
Micron Technology, Inc MU $932.86 $148.38 −84%
Advanced Micro Devices, Inc AMD $476.67 $55.02 −88%
Intel Corporation INTC $92.09 $35.41 −62%
Texas Instruments Incorporated TXN $266.54 $78.54 −71%
QUALCOMM Incorporated QCOM $164.78 $147.20 −11%
MediaTek Inc 2454 3,845 TWD 1,559 TWD −59%

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Frequently asked questions

Is Laster Tech Corp Ltd (3346) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 6.12 TWD versus a price of 18.95 TWD, about −68% upside (overvalued).
What is the fair value of 3346?
Our model-based fair value for Laster Tech Corp Ltd is 6.12 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price: 18.95 TWD.
What is the quality score of 3346?
Laster Tech Corp Ltd has a Quality Score of 37/100. 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 Laster Tech Corp Ltd (3346)?
Laster Tech Corp Ltd reported trailing-twelve-month revenue of about 8.2B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 3346?
The net profit margin of Laster Tech Corp Ltd is about −1.2%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Laster Tech Corp Ltd pay a dividend?
Laster Tech Corp Ltd currently shows a dividend yield of about 0.58% relative to its recent price (as of Aug 13, 2026).
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