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Winmate Inc (3416) Fair Value & Analysis

Technology · TW · Market cap 12.8B TWD

WI Winmate Inc 3416 · TW
Price196.00 TWD
Fair Value132.40 TWD
Upside-32.5%
Quality64/100
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Healthy Growth
Solidly profitable · 15.5% net margin
Low debt · generates free cash flow
3.46% dividend yield
Ranks above peers (12/14)
Moderate moat 64/100
Evidence: High Range 94.40 TWD – 164.03 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Share price +8.0% over the past month.

A solid business, but screening 32% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (164.03 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

196.79 TWD 52.84 TWD Fair Value 132.40 TWD Mar 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 52.84 TWD – 196.79 TWD · fair‑value band 94.40 TWD – 164.03 TWD · the 196.00 TWD price screens above the 132.40 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

Winmate Inc (3416) currently trades at 196.00 TWD, while our model-based Fair Value estimate is 132.40 TWD, implying the stock looks roughly 32.5% overvalued today. The Quality Score stands at 64/100 (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, Winmate Inc generated revenue of 3.8B TWD at a net margin of 15.5%. Revenue grew 18.2% year over year. It earns a return on equity of 18.6%. The balance sheet holds a net cash position of 474M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 94.40 TWD (bear case) to 164.03 TWD (bull case); at 196.00 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 7% below its 52-week high and 55% 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 -32%, 3416 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
Growth DCF 81.51 TWD 129.63 TWD 208.89 TWD 80
Residual Income 47.66 TWD 58.66 TWD 127.20 TWD 76
Rev-Margin DCF 86.11 TWD 140.26 TWD 207.92 TWD 74
All 26 models by family
DCF Models
FCF DCF 81.51 TWD 132.48 TWD 217.85 TWD 38
Owner Earnings 110.99 TWD 183.53 TWD 305.03 TWD 31
5Y Revenue Exit 86.11 TWD 141.53 TWD 215.80 TWD 39
5Y EBITDA Exit 92.85 TWD 155.04 TWD 231.60 TWD 41
5Y P/E Exit 102.19 TWD 173.76 TWD 253.94 TWD 38
10Y Revenue Exit 81.31 TWD 132.95 TWD 209.79 TWD 36
10Y EBITDA Exit 88.32 TWD 142.70 TWD 222.66 TWD 37
10Y P/E Exit 94.44 TWD 156.20 TWD 240.87 TWD 35
Earnings-Based
Graham-Dodd 49.93 TWD 209.06 TWD 285.15 TWD 54
Lynch FV 52.99 TWD 75.70 TWD 98.41 TWD 50
PEG = 1.0 52.99 TWD 75.70 TWD 98.41 TWD 46
EPV 77.68 TWD 88.66 TWD 98.27 TWD 59
Dividend Discount
Gordon GGM 50.03 TWD 104.03 TWD 165.03 TWD 70
DDM Multi-Stage 50.03 TWD 87.72 TWD 109.18 TWD 61
Multiples
P/E Multiple 110.14 TWD 146.85 TWD 183.56 TWD 63
P/S Multiple 84.81 TWD 113.07 TWD 141.34 TWD 58
P/B Multiple 93.62 TWD 124.82 TWD 156.03 TWD 55
EV/EBIT 127.97 TWD 166.69 TWD 205.40 TWD 53
EV/EBITDA 106.71 TWD 138.34 TWD 169.97 TWD 54
EV/Revenue 90.11 TWD 123.67 TWD 157.22 TWD 43
Asset-Based
NCAV (Graham) 21.95 TWD 29.41 TWD 43.90 TWD 50
Growth DCF
Growth DCF 81.51 TWD 129.63 TWD 208.89 TWD 80
Rev-Margin DCF 86.11 TWD 140.26 TWD 207.92 TWD 74
Economic Profit
Residual Income 47.66 TWD 58.66 TWD 127.20 TWD 76
ROIC Compounder 85.60 TWD 109.53 TWD 139.87 TWD 72
Growth Earnings
Growth-Adj P/E 87.75 TWD 125.36 TWD 162.96 TWD 68

Widest divergence: DCF Models (142.70 TWD) versus Asset-Based (29.41 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.8B TWD
Revenue growth (YoY) +18.2%
Net margin 15.5%
Return on equity 18.6%
Free cash flow 452M TWD FY2025
P/E ratio 24.5
More key figures
Operating margin 15.1%
EPS (TTM) 7.10 TWD
Dividend yield 3.5%
EPS growth (YoY) -3.3%
Net cash 474M TWD FY2025

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 64 · Market factors (momentum, volatility) 75

Profitability 61
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 74
Price trend over the last 3–12 months (market factor)
52W Momentum 82
Distance to the 52-week high (market factor)
Net Issuance 49
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

Winmate Inc. engages in the research and development, manufacture, and sales of rugged display equipment and rugged mobile computer in Europe, Asia, the United States, and internationally.

Full company description

Winmate Inc. engages in the research and development, manufacture, and sales of rugged display equipment and rugged mobile computer in Europe, Asia, the United States, and internationally. The company offers computing artificial intelligence mobile computer, rugged touch laptop and handheld mobile computer, windows and android rugged tablet, and radio gateway; car tablet, windows, and car android computer. It also offers multi-touch, open architecture, chassis type, panel mounting, PoE touch, USB, stainless steel display, outdoor display, rear installation, industrial explosion-proof, rack mount, long industrial display related products. In addition, the company provides explosion-proof, digital electronic signage, industrial computers, and human-machine interfaces products; waterproof rugged computer, and embedded solutions; medical grade rugged tablet, industrial computer, and display; marine grade industrial computer, ship grade display, and marine grade embedded computer; rugged robot controller and defense related products. Winmate Inc. serves artificial intelligence, energy, explosion-proof, food and pharmaceutical factory, chemical, human-machine interface/industrial automation, agricultural machinery, transportation solutions, ship, public safety, warehousing and logistics solutions, industrial IOT solutions, military defense, infrastructure, intelligent robot system, healthcare, green energy carbon reduction, self-service kiosk, heavy industry, metals and mining, smart charging station, and government sectors. The company has a strategic collaboration with Blaize Holdings, Inc. The company was incorporated in 1996 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Winmate Inc reported revenue of 3.6B TWD in FY2025 versus 2.5B TWD in FY2021, a compound +9.8%/yr. Reported net income was 591M TWD in FY2025, compounding +12.8%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.6B TWD
Latest YoY
+19.1%
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.
+11.0%
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.
+14.6%
Avg. growth/yr (15Y) 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.
+6.9%
Revenue +9.8%/yr
FY21 2.5B TWD
FY22 2.7B TWD
FY23 2.6B TWD
FY24 3.1B TWD
FY25 3.6B TWD
Net income +12.8%/yr
FY21 365M TWD
FY22 452M TWD
FY23 506M TWD
FY24 559M TWD
FY25 591M TWD
Character of growth · EPS growth decomposed (2014-2025) +7.5 % p.a.
Revenue per share +5.0 pp

of which total revenue +8.7 pp · buybacks/dilution −3.8 pp

EBIT margin +2.6 pp
Tax rate −0.5 pp
Residual (interest, one-offs) +0.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

3416 screens 32% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Winmate Inc Fair Value". https://www.fairvalue-calculator.com/stock/3416

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 64 · Top 25%
Fair Value upside −32% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth 18% · Above median
Dividend yield (TTM) 3.5% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 22.5× · Cheaper than median
P/B 3.63× · Pricier than median
P/S (TTM) 3.39× · Pricier than median
P/FCF 0.9× · Cheaper than median
EV/EBITDA 15.8× · 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 91 · sector 32
PAST 74 · sector 24
HEALTH 100 · sector 95
DIVIDEND 69 · sector 25

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 Winmate Inc (3416) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 132.40 TWD versus a price of 196.00 TWD, about −32% (overvalued).
What is the fair value of 3416?
Our model-based fair value for Winmate Inc is 132.40 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 196.00 TWD.
What is the quality score of 3416?
Winmate Inc has a Quality Score of 64/100. 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 Winmate Inc (3416)?
Winmate Inc reported trailing-twelve-month revenue of about 3.8B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3416?
The net profit margin of Winmate Inc is about 15.5%, meaning it keeps roughly 15.5% of revenue as net income. Based on the latest reported figures.
Does Winmate Inc pay a dividend?
Winmate Inc currently shows a dividend yield of about 3.27% relative to its recent price (as of Jul 21, 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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