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Solteam Incorporation (3484) Fair Value & Analysis

Industrials · TW · Market cap 3.7B TWD

SI Solteam Incorporation 3484 · TWO
Price50.70 TWD
Fair Value89.28 TWD
Upside+76.1%
Quality62/100
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Weak Growth
Thin margins · 6.7% net margin
Low debt · generates free cash flow
5.35% dividend yield
Ranks above peers (13/14)
Narrow moat 44/100
Evidence: High Range 64.55 TWD – 111.60 TWD Share as image

Fair value as of: Jul 21, 2026

From 25 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 88.84 TWD to 89.28 TWD (+0.5%) since Jul 9, 2026. Share price −3.8% over the past month.

A solid business, screening 76% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (64.55 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

89.01 TWD 39.30 TWD Fair Value 89.28 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 39.30 TWD – 89.01 TWD · fair‑value band 64.55 TWD – 111.60 TWD · the 50.70 TWD price screens below the 89.28 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Solteam Incorporation (3484) currently trades at 50.70 TWD, while our model-based Fair Value estimate is 89.28 TWD, implying the stock looks roughly 76.1% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Solteam Incorporation generated revenue of 4.6B TWD at a net margin of 6.7%. Revenue declined 4.0% year over year. It earns a return on equity of 9.0%. The balance sheet holds a net cash position of 639M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 64.55 TWD (bear case) to 111.60 TWD (bull case); at 50.70 TWD, the current price sits below 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 11% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 76%, 3484 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 54.79 TWD 68.66 TWD 86.74 TWD 80
Residual Income 36.28 TWD 40.19 TWD 56.85 TWD 76
Rev-Margin DCF 59.14 TWD 82.33 TWD 107.01 TWD 74
All 25 models by family
DCF Models
FCF DCF 53.83 TWD 68.82 TWD 89.23 TWD 38
Owner Earnings 70.51 TWD 92.35 TWD 122.08 TWD 31
5Y Revenue Exit 59.14 TWD 82.01 TWD 110.21 TWD 39
5Y EBITDA Exit 67.72 TWD 97.23 TWD 130.19 TWD 41
5Y P/E Exit 67.53 TWD 96.90 TWD 126.12 TWD 38
10Y Revenue Exit 55.42 TWD 75.11 TWD 99.49 TWD 36
10Y EBITDA Exit 61.97 TWD 85.15 TWD 113.69 TWD 37
10Y P/E Exit 61.86 TWD 84.93 TWD 110.79 TWD 35
Earnings-Based
Graham-Dodd 28.91 TWD 66.84 TWD 85.83 TWD 54
PEG = 1.0 11.28 TWD 16.11 TWD 20.95 TWD 46
EPV 58.07 TWD 64.51 TWD 70.06 TWD 59
Dividend Discount
Gordon GGM 21.47 TWD 35.18 TWD 50.55 TWD 70
DDM Multi-Stage 21.47 TWD 31.10 TWD 41.37 TWD 61
Multiples
P/E Multiple 66.96 TWD 89.28 TWD 111.60 TWD 63
P/S Multiple 54.20 TWD 72.27 TWD 90.34 TWD 58
P/B Multiple 54.20 TWD 72.27 TWD 90.34 TWD 55
EV/EBIT 84.71 TWD 107.18 TWD 129.64 TWD 53
EV/EBITDA 84.62 TWD 107.05 TWD 129.49 TWD 54
EV/Revenue 65.42 TWD 86.03 TWD 106.65 TWD 43
Asset-Based
NCAV (Graham) 20.71 TWD 27.75 TWD 41.42 TWD 50
Growth DCF
Growth DCF 54.79 TWD 68.66 TWD 86.74 TWD 80
Rev-Margin DCF 59.14 TWD 82.33 TWD 107.01 TWD 74
Economic Profit
Residual Income 36.28 TWD 40.19 TWD 56.85 TWD 76
ROIC Compounder 59.61 TWD 68.66 TWD 78.33 TWD 72
Growth Earnings
Growth-Adj P/E 50.45 TWD 72.07 TWD 93.69 TWD 68

Widest divergence: Multiples (86.03 TWD) versus Asset-Based (27.75 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 4.6B TWD
Revenue growth (YoY) -4.0%
Net margin 6.7%
Return on equity 9.0%
Free cash flow 285M TWD FY2025
P/E ratio 11.5
More key figures
Operating margin 7.0%
EPS (TTM) 3.98 TWD
Dividend yield 5.4%
EPS growth (YoY) -31.1%
Net cash 639M TWD FY2023

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 59

Profitability 47
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 53
Distance to the 52-week high (market factor)
Net Issuance 57
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

Solteam Incorporation engages in the research, development, manufacturing, and sale of electronic components in Taiwan and Asia. The company offers switches, inlets and outlets, adapters, batter holders, controller modules, EV parts, surrounding and other products, appliance turbidity sensor, aqua, and medical devices.

Full company description

Solteam Incorporation engages in the research, development, manufacturing, and sale of electronic components in Taiwan and Asia. The company offers switches, inlets and outlets, adapters, batter holders, controller modules, EV parts, surrounding and other products, appliance turbidity sensor, aqua, and medical devices. Its products are applied in power tool, home appliance, auto, information technology, and medical industries. The company was founded in 1992 and is headquartered in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Solteam Incorporation reported revenue of 4.6B TWD in FY2025 versus 6.9B TWD in FY2021, a compound −9.5%/yr. Reported net income was 335M TWD in FY2025, compounding −12.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
4.6B TWD
Latest YoY
+6.4%
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.
−8.2%
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.
−0.1%
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.
+2.6%
Revenue −9.5%/yr
FY21 6.9B TWD
FY22 6.0B TWD
FY23 3.4B TWD
FY24 4.4B TWD
FY25 4.6B TWD
Net income −12.4%/yr
FY21 569M TWD
FY22 353M TWD
FY23 115M TWD
FY24 316M TWD
FY25 335M TWD

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Cite: Fair Value Calculator (2026). "Solteam Incorporation Fair Value". https://www.fairvalue-calculator.com/stock/3484

Peer Group

Electrical Equipment & Parts · 526 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 62 · Top 25%
Fair Value upside +76% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 5% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth -4% · Bottom 25%
Dividend yield (TTM) 5.4% · Top 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 11.9× · Cheaper than 75% of peers
P/B 1.15× · Cheaper than median
P/S (TTM) 0.82× · Cheaper than median
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 5.0× · Cheaper than 75% of peers

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 100 · sector 0
FUTURE 0 · sector 57
PAST 36 · sector 26
HEALTH 99 · sector 97
DIVIDEND 100 · sector 18

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is Solteam Incorporation (3484) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 89.28 TWD versus a price of 50.70 TWD, about +76% (undervalued).
What is the fair value of 3484?
Our model-based fair value for Solteam Incorporation is 89.28 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 50.70 TWD.
What is the quality score of 3484?
Solteam Incorporation has a Quality Score of 62/100. 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 Solteam Incorporation (3484)?
Solteam Incorporation reported trailing-twelve-month revenue of about 4.6B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3484?
The net profit margin of Solteam Incorporation is about 6.7%, meaning it keeps roughly 6.7% of revenue as net income. Based on the latest reported figures.
Does Solteam Incorporation pay a dividend?
Solteam Incorporation currently shows a dividend yield of about 5.41% 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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