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Utechzone Co (3455) Fair Value & Analysis

Technology · TW · Market cap 11.6B TWD

UC Utechzone Co 3455 · TWO
Price205.50 TWD
Fair Value45.42 TWD
Upside-77.9%
Quality64/100
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Weak Growth
Thin margins · 7.3% net margin
Low debt · generates free cash flow
1.69% dividend yield
Trails peers (4/13)
Narrow moat 30/100
Evidence: High Range 34.07 TWD – 56.78 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price −15.4% over the past month.

A solid business, but screening 78% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (56.78 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)

310.00 TWD 45.14 TWD Fair Value 45.42 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 45.14 TWD – 310.00 TWD · fair‑value band 34.07 TWD – 56.78 TWD · the 205.50 TWD price screens above the 45.42 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

Utechzone Co (3455) currently trades at 205.50 TWD, while our model-based Fair Value estimate is 45.42 TWD, implying the stock looks roughly 77.9% 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, Utechzone Co generated revenue of 1.5B TWD at a net margin of 7.3%. Revenue declined 59.5% year over year. It earns a return on equity of 4.5%. Net debt stands at 68.0M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 34.07 TWD (bear case) to 56.78 TWD (bull case); at 205.50 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 36% below its 52-week high and 152% 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 -78%, 3455 screens richer 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 54.52 TWD 72.98 TWD 104.56 TWD 80
Residual Income 34.40 TWD 35.97 TWD 37.12 TWD 76
Rev-Margin DCF 29.88 TWD 37.71 TWD 47.86 TWD 74
All 24 models by family
DCF Models
FCF DCF 52.27 TWD 71.29 TWD 106.51 TWD 38
Owner Earnings 24.19 TWD 32.18 TWD 46.98 TWD 31
5Y Revenue Exit 29.88 TWD 36.57 TWD 46.19 TWD 39
5Y EBITDA Exit 34.72 TWD 44.95 TWD 58.51 TWD 41
5Y P/E Exit 43.57 TWD 60.28 TWD 80.31 TWD 38
10Y Revenue Exit 37.95 TWD 43.73 TWD 49.43 TWD 36
10Y EBITDA Exit 41.23 TWD 48.91 TWD 56.66 TWD 37
10Y P/E Exit 46.61 TWD 58.39 TWD 69.45 TWD 35
Earnings-Based
Graham-Dodd 18.17 TWD 22.21 TWD 24.98 TWD 54
EPV 10.70 TWD 11.84 TWD 12.84 TWD 59
Dividend Discount
Gordon GGM 41.32 TWD 45.22 TWD 51.18 TWD 70
DDM Multi-Stage 41.32 TWD 51.84 TWD 66.59 TWD 61
Multiples
P/E Multiple 40.08 TWD 53.44 TWD 66.80 TWD 63
P/S Multiple 34.07 TWD 45.42 TWD 56.78 TWD 58
P/B Multiple 34.07 TWD 45.42 TWD 56.78 TWD 55
EV/EBIT 23.29 TWD 29.78 TWD 36.26 TWD 53
EV/EBITDA 27.08 TWD 34.83 TWD 42.58 TWD 54
EV/Revenue 16.95 TWD 22.57 TWD 28.19 TWD 43
Asset-Based
NCAV (Graham) 21.44 TWD 28.73 TWD 42.88 TWD 50
Growth DCF
Growth DCF 54.52 TWD 72.98 TWD 104.56 TWD 80
Rev-Margin DCF 29.88 TWD 37.71 TWD 47.86 TWD 74
Economic Profit
Residual Income 34.40 TWD 35.97 TWD 37.12 TWD 76
ROIC Compounder 10.70 TWD 11.84 TWD 12.84 TWD 72
Growth Earnings
Growth-Adj P/E 28.35 TWD 40.51 TWD 52.66 TWD 68

Widest divergence: Dividend Discount (45.22 TWD) versus Earnings-Based (11.84 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.5B TWD
Revenue growth (YoY) -59.5%
Net margin 7.3%
Return on equity 4.5%
Free cash flow 298M TWD FY2025
P/E ratio 72.3
More key figures
Operating margin -61.0%
EPS (TTM) 2.67 TWD
Dividend yield 1.7%
EPS growth (YoY) -60.6%
Net debt 68.0M TWD FY2024

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 65 · Market factors (momentum, volatility) 63

Profitability 36
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 25
Calm price path (market factor)
Momentum 81
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 86
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

Utechzone Co., Ltd. researches, develops, manufactures, and sells automatic optical inspection systems and equipment in Taiwan, China, Japan, and internationally.

Full company description

Utechzone Co., Ltd. researches, develops, manufactures, and sells automatic optical inspection systems and equipment in Taiwan, China, Japan, and internationally. It offers printed circuit board inspection, flat panel display inspection, semiconductor inspection, and other inspection products, as well as IC Substrate and LCD; eye-tracking system; security system; and interactive media system. Utechzone Co., Ltd. was founded in 1992 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

Utechzone Co reported revenue of 1.7B TWD in FY2025 versus 2.8B TWD in FY2021, a compound −11.8%/yr. Reported net income was 160M TWD in FY2025, compounding −22.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.7B TWD
Latest YoY
−9.5%
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.
−19.0%
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.
−6.2%
Avg. growth/yr (8Y) ⓘ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.
−6.2%
Revenue −11.8%/yr
FY21 2.8B TWD
FY22 3.1B TWD
FY23 2.0B TWD
FY24 1.9B TWD
FY25 1.7B TWD
Net income −22.7%/yr
FY21 449M TWD
FY22 751M TWD
FY23 314M TWD
FY24 317M TWD
FY25 160M TWD

3455 screens 78% overvalued. Compare with Delta Electronics, Inc →

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Utechzone Co · Fair Value
45.42 TWD −78%Fair Value
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Cite: Fair Value Calculator (2026). "Utechzone Co Fair Value". https://www.fairvalue-calculator.com/stock/3455

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 −78% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 1% · Below median
Net margin (TTM) 7% · Above median
Operating margin (TTM) -61% · Bottom 25%
Revenue growth -60% · Bottom 25%
Dividend yield (TTM) 1.7% · Above median
Debt / equity 0.19× · Higher than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 72.3× · Pricier than 75% of peers
P/B 4.50× · Pricier than median
P/S (TTM) 7.92× · Pricier than 75% of peers
P/FCF 1.2× · 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 0 · sector 32
PAST 18 · sector 24
HEALTH 91 · sector 95
DIVIDEND 34 · 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 Utechzone Co (3455) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 45.42 TWD versus a price of 205.50 TWD, about −78% (overvalued).
What is the fair value of 3455?
Our model-based fair value for Utechzone Co is 45.42 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 205.50 TWD.
What is the quality score of 3455?
Utechzone Co 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 Utechzone Co (3455)?
Utechzone Co reported trailing-twelve-month revenue of about 1.5B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3455?
The net profit margin of Utechzone Co is about 7.3%, meaning it keeps roughly 7.3% of revenue as net income. Based on the latest reported figures.
Does Utechzone Co pay a dividend?
Utechzone Co currently shows a dividend yield of about 1.69% 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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