Forcera Materials Co (3467) Fair Value & Analysis
Technology · TW · Market cap 1.7B TWD
Fair value as of: Jul 23, 2026
From 14 valuation models · updated 18 days ago
Share price −22.7% over the past month.
Below-average quality, and screening another 76% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (13.23 TWD). The favourable scenario is already priced in.
- Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (3 years)
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
32‑month range 36.69 TWD – 84.80 TWD · fair‑value band 8.58 TWD – 13.23 TWD · the 45.05 TWD price screens above the 10.83 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Forcera Materials Co (3467) currently trades at 45.05 TWD, while our model-based Fair Value estimate is 10.83 TWD, implying the stock looks roughly 76.0% overvalued today. The Quality Score stands at 41/100 (below-average 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: medium).
Net debt stands at 23.9M TWD. The stock trades on a trailing P/E of 112.2. Fundamentals as of Jul 23, 2026
Our scenario range runs from 8.58 TWD (bear case) to 13.23 TWD (bull case); at 45.05 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 44% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -76%, 3467 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.
All 14 models by family
Widest divergence: Asset-Based (12.81 TWD) versus Earnings-Based (6.73 TWD). Highest evidence: Residual Income (76).
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Key figures & financial health
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 44 · Market factors (momentum, volatility) 19
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
Forcera Materials Co., Ltd. manufactures and sells consumable spare parts for semiconductor and ceramic material industries in Taiwan and internationally. The company's products include aluminum oxide, quartz, aluminum nitride, and silicon.
Full company description
Forcera Materials Co., Ltd. manufactures and sells consumable spare parts for semiconductor and ceramic material industries in Taiwan and internationally. The company's products include aluminum oxide, quartz, aluminum nitride, and silicon. Its products are used in various applications, including semiconductor chamber component, TFT.LCD chamber component, high and well-plasma/chemical resistance require, precision/structure ceramic component, semiconductor etch process, semiconductor PVD process, ring shape, and cathode applications. The company was founded in 1986 and is based in Hsinchu City, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Forcera Materials Co reported revenue of 614M TWD in FY2025 versus 565M TWD in FY2021, a compound +2.1%/yr. Reported net income was 17.8M TWD in FY2025, compounding +2.9%/yr from FY2021.
3467 screens 76% overvalued. Compare with ASML Holding →
Peer Group
Semiconductor Equipment & Materials · 212 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.
Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | C$50.50 | C$15.57 | -69% |
| Applied Materials, Inc AMAT | $579.43 | $143.08 | -75% |
| Lam Research Corporation LRCX | $346.10 | $67.57 | -80% |
| KLA Corporation KLAC | $212.75 | $53.01 | -75% |
| NAURA Technology Group 002371 | ¥774.20 | ¥151.43 | -80% |
| Advanced Micro-Fabrication Equipment Inc 688012 | ¥350.69 | ¥41.79 | -88% |
| Piotech Inc 688072 | ¥832.00 | ¥431.44 | -48% |
| Hon. Precision, Inc 7769 | 6,005 TWD | 1,804 TWD | -70% |
| Hangzhou Changchuan Technology Co 300604 | ¥325.24 | ¥33.33 | -90% |
| MPI Corporation 6223 | 5,600 TWD | 609.44 TWD | -89% |
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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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