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Chitec Technology Co (3430) Fair Value & Analysis

Basic Materials · TW · Market cap 4.1B TWD

CT Chitec Technology Co 3430 · TWO
Price118.00 TWD
Fair Value53.87 TWD
Upside-54.4%
Quality60/100
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Expensive Growth
Thin margins · 6.3% net margin
Low debt · generates free cash flow
1.27% dividend yield
Mixed vs. peers (8/14)
Moderate moat 47/100
Evidence: High Range 30.15 TWD – 78.86 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 54.04 TWD to 53.87 TWD (−0.3%) since Jul 9, 2026. Share price −7.8% over the past month.

A solid business, but screening 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (78.86 TWD). The favourable scenario is already priced in.
  • The model range is unusually wide (30.15 TWD to 78.86 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

181.23 TWD 19.50 TWD Fair Value 53.87 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 19.50 TWD – 181.23 TWD · fair‑value band 30.15 TWD – 78.86 TWD · the 118.00 TWD price screens above the 53.87 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Chitec Technology Co (3430) currently trades at 118.00 TWD, while our model-based Fair Value estimate is 53.87 TWD, implying the stock looks roughly 54.4% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Basic Materials 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, Chitec Technology Co generated revenue of 1.8B TWD at a net margin of 6.3%. Revenue grew 31.5% year over year. It earns a return on equity of 10.4%. The balance sheet holds a net cash position of 248M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 30.15 TWD (bear case) to 78.86 TWD (bull case); at 118.00 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 38% below its 52-week high and 166% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -54%, 3430 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 14.57 TWD 19.25 TWD 26.59 TWD 80
Residual Income 29.04 TWD 31.70 TWD 39.31 TWD 76
Rev-Margin DCF 36.59 TWD 62.81 TWD 95.51 TWD 74
All 26 models by family
DCF Models
FCF DCF 14.59 TWD 19.64 TWD 27.78 TWD 38
Owner Earnings 24.75 TWD 36.88 TWD 56.45 TWD 31
5Y Revenue Exit 36.59 TWD 63.98 TWD 101.51 TWD 39
5Y EBITDA Exit 45.62 TWD 82.10 TWD 127.83 TWD 41
5Y P/E Exit 38.21 TWD 67.22 TWD 100.11 TWD 38
10Y Revenue Exit 27.31 TWD 50.28 TWD 85.88 TWD 36
10Y EBITDA Exit 34.41 TWD 63.07 TWD 106.87 TWD 37
10Y P/E Exit 29.66 TWD 52.57 TWD 84.77 TWD 35
Earnings-Based
Graham-Dodd 21.45 TWD 90.49 TWD 123.50 TWD 54
Lynch FV 23.01 TWD 32.87 TWD 42.73 TWD 50
PEG = 1.0 23.01 TWD 32.87 TWD 42.73 TWD 46
EPV 34.99 TWD 39.36 TWD 43.12 TWD 59
Dividend Discount
Gordon GGM 21.96 TWD 43.75 TWD 66.25 TWD 70
DDM Multi-Stage 21.96 TWD 37.81 TWD 46.18 TWD 61
Multiples
P/E Multiple 47.32 TWD 63.09 TWD 78.86 TWD 63
P/S Multiple 40.22 TWD 53.62 TWD 67.03 TWD 58
P/B Multiple 40.22 TWD 53.62 TWD 67.03 TWD 55
EV/EBIT 69.14 TWD 89.73 TWD 110.33 TWD 53
EV/EBITDA 67.02 TWD 86.91 TWD 106.80 TWD 54
EV/Revenue 49.00 TWD 66.85 TWD 84.70 TWD 43
Asset-Based
NCAV (Graham) 16.92 TWD 22.67 TWD 33.84 TWD 50
Growth DCF
Growth DCF 14.57 TWD 19.25 TWD 26.59 TWD 80
Rev-Margin DCF 36.59 TWD 62.81 TWD 95.51 TWD 74
Economic Profit
Residual Income 29.04 TWD 31.70 TWD 39.31 TWD 76
ROIC Compounder 35.50 TWD 44.11 TWD 56.03 TWD 72
Growth Earnings
Growth-Adj P/E 37.91 TWD 54.16 TWD 70.41 TWD 68

Widest divergence: Multiples (63.09 TWD) versus Growth DCF (19.25 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.8B TWD
Revenue growth (YoY) +31.5%
Net margin 6.3%
Return on equity 10.4%
Free cash flow 20.7M TWD FY2025
P/E ratio 39.6
More key figures
Operating margin 11.7%
EPS (TTM) 3.14 TWD
Dividend yield 1.3%
EPS growth (YoY) -13.8%
Net cash 248M TWD FY2024

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 59 · Market factors (momentum, volatility) 56

Profitability 49
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 26
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 83
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 72
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

Chitec Technology Co., Ltd. engages in the research and development of specialty chemicals for applications in automotive coatings, industrial coatings, wood coatings, automotive & transportation, building & construction, packaging, agriculture, consumer goods, textiles and fibers, electrical and electronics, UV/led curing and printing, adhesives and …

Full company description

Chitec Technology Co., Ltd. engages in the research and development of specialty chemicals for applications in automotive coatings, industrial coatings, wood coatings, automotive & transportation, building & construction, packaging, agriculture, consumer goods, textiles and fibers, electrical and electronics, UV/led curing and printing, adhesives and sealants, optical coatings, and other industries internationally. It offers UV absorbers and light stabilizers under the Chiguard name; flame retardants; antioxidants under the Revonox/Deox name; and photoinitiators under the Chivacure/R-gen name. The company was founded in 1998 and is headquartered in Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chitec Technology Co reported revenue of 1.7B TWD in FY2025 versus 1.5B TWD in FY2021, a compound +3.4%/yr. Reported net income was 106M TWD in FY2025, compounding −5.0%/yr from FY2021.

Growth Quality 56/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.7B TWD
Latest YoY
+16.2%
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.
+2.3%
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.
+8.1%
Avg. growth/yr (9Y) 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.
+9.4%
Revenue +3.4%/yr
FY21 1.5B TWD
FY22 1.6B TWD
FY23 1.3B TWD
FY24 1.5B TWD
FY25 1.7B TWD
Net income −5.0%/yr
FY21 131M TWD
FY22 196M TWD
FY23 120M TWD
FY24 161M TWD
FY25 106M TWD

3430 screens 54% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Chitec Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/3430

Peer Group

Specialty Chemicals · 668 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 60 · Above median
Fair Value upside −54% · Below median
Return on equity (TTM) 10% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth 32% · Top 25%
Dividend yield (TTM) 1.3% · Above median
Debt / equity 0.07× · Lower than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 38.4× · Pricier than median
P/B 3.56× · Pricier than 75% of peers
P/S (TTM) 2.22× · Pricier than median
P/FCF 6.1× · Pricier than median
EV/EBITDA 18.5× · 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 100 · sector 19
PAST 42 · sector 23
HEALTH 97 · sector 94
DIVIDEND 25 · 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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Chitec Technology Co (3430) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 53.87 TWD versus a price of 118.00 TWD, about −54% (overvalued).
What is the fair value of 3430?
Our model-based fair value for Chitec Technology Co is 53.87 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 118.00 TWD.
What is the quality score of 3430?
Chitec Technology Co has a Quality Score of 60/100. 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 Chitec Technology Co (3430)?
Chitec Technology Co reported trailing-twelve-month revenue of about 1.8B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3430?
The net profit margin of Chitec Technology Co is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does Chitec Technology Co pay a dividend?
Chitec Technology Co currently shows a dividend yield of about 1.30% relative to its recent price (as of Jul 23, 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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