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ASROCK Incorporation (3515) Fair Value & Analysis

Technology · TW · Market cap 25.6B TWD

AI ASROCK Incorporation 3515 · TW
Price212.50 TWD
Fair Value259.75 TWD
Upside+22.2%
Quality52/100
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Healthy Growth
Thin margins · 3.9% net margin
generates free cash flow
5.45% dividend yield
Ranks above peers (11/13)
Moderate moat 52/100
Evidence: Medium Range 178.76 TWD – 324.69 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 19 days ago

Share price +1.2% over the past month.

A solid business, screening 22% undervalued on our models.

What matters now

  • Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (178.76 TWD to 324.69 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

337.50 TWD 80.04 TWD Fair Value 259.75 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 80.04 TWD – 337.50 TWD · fair‑value band 178.76 TWD – 324.69 TWD · the 212.50 TWD price screens below the 259.75 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

ASROCK Incorporation (3515) currently trades at 212.50 TWD, while our model-based Fair Value estimate is 259.75 TWD, implying the stock looks roughly 22.2% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, ASROCK Incorporation generated revenue of 50.7B TWD at a net margin of 3.9%. Revenue grew 27.8% year over year. It earns a return on equity of 21.7%. The balance sheet holds a net cash position of 6.0B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 178.76 TWD (bear case) to 324.69 TWD (bull case); at 212.50 TWD, the current price sits within 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 41% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at 22%, 3515 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 BearBaseBull Evidence
Highest evidence
Residual Income 101.07 TWD 129.90 TWD 335.25 TWD 76
Growth DCF 166.82 TWD 268.68 TWD 450.56 TWD 72
Gordon GGM 63.24 TWD 131.49 TWD 208.60 TWD 70
All 26 models by family
DCF Models
FCF DCF 169.39 TWD 278.67 TWD 503.26 TWD 38
Owner Earnings 261.26 TWD 466.82 TWD 850.77 TWD 31
5Y Revenue Exit 227.84 TWD 402.38 TWD 652.08 TWD 39
5Y EBITDA Exit 238.38 TWD 425.28 TWD 671.90 TWD 41
5Y P/E Exit 236.07 TWD 420.26 TWD 642.44 TWD 38
10Y Revenue Exit 200.81 TWD 363.29 TWD 638.03 TWD 36
10Y EBITDA Exit 215.35 TWD 380.59 TWD 655.49 TWD 37
10Y P/E Exit 213.78 TWD 376.80 TWD 629.53 TWD 35
Earnings-Based
Graham-Dodd 103.90 TWD 571.30 TWD 792.67 TWD 54
Lynch FV 159.04 TWD 227.21 TWD 295.37 TWD 50
PEG = 1.0 159.04 TWD 227.21 TWD 295.37 TWD 46
EPV 225.22 TWD 254.53 TWD 280.17 TWD 59
Dividend Discount
Gordon GGM 63.24 TWD 131.49 TWD 208.60 TWD 70
DDM Multi-Stage 63.24 TWD 110.88 TWD 138.01 TWD 61
Multiples
P/E Multiple 229.19 TWD 305.59 TWD 381.99 TWD 63
P/S Multiple 194.81 TWD 259.75 TWD 324.69 TWD 58
P/B Multiple 194.81 TWD 259.75 TWD 324.69 TWD 55
EV/EBIT 349.34 TWD 449.32 TWD 549.30 TWD 53
EV/EBITDA 282.14 TWD 359.71 TWD 437.29 TWD 54
EV/Revenue 251.59 TWD 338.23 TWD 424.88 TWD 43
Asset-Based
NCAV (Graham) 48.52 TWD 65.02 TWD 97.04 TWD 50
Growth DCF
Growth DCF 166.82 TWD 268.68 TWD 450.56 TWD 72
Rev-Margin DCF 227.84 TWD 393.90 TWD 620.93 TWD 67
Economic Profit
Residual Income 101.07 TWD 129.90 TWD 335.25 TWD 76
ROIC Compounder 249.32 TWD 313.44 TWD 392.59 TWD 67
Growth Earnings
Growth-Adj P/E 225.52 TWD 322.18 TWD 418.83 TWD 68

Widest divergence: DCF Models (380.59 TWD) versus Asset-Based (65.02 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 50.7B TWD
Revenue growth (YoY) +27.8%
Net margin 3.9%
Return on equity 21.7%
Free cash flow 1.1B TWD FY2025
P/E ratio 13.6
More key figures
Operating margin 7.2%
EPS (TTM) 15.17 TWD
Dividend yield 5.5%
EPS growth (YoY) +15.7%
Net cash 6.0B TWD FY2025

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 54 · Market factors (momentum, volatility) 27

Profitability 67
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 42
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 0
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

ASROCK Incorporation designs, develops, and sells motherboards in Asia, Europe, America, and internationally. The company also offers graphic cards, gaming monitors, power supply, servers/WS, and mini and industrial PCs. In addition, it engages in the service of computer software; and rental of office buildings.

Full company description

ASROCK Incorporation designs, develops, and sells motherboards in Asia, Europe, America, and internationally. The company also offers graphic cards, gaming monitors, power supply, servers/WS, and mini and industrial PCs. In addition, it engages in the service of computer software; and rental of office buildings. ASROCK Incorporation was founded in 2002 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ASROCK Incorporation reported revenue of 47.8B TWD in FY2025 versus 19.8B TWD in FY2021, a compound +24.7%/yr. Reported net income was 1.9B TWD in FY2025, compounding −5.6%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
47.8B TWD
Latest YoY
+86.5%
Avg. growth/yr (3Y)
+40.8%
Avg. growth/yr (5Y)
+21.7%
Avg. growth/yr (19Y)
+6.8%
Revenue +24.7%/yr
FY21 19.8B TWD
FY22 17.1B TWD
FY23 19.0B TWD
FY24 25.7B TWD
FY25 47.8B TWD
Net income −5.6%/yr
FY21 2.4B TWD
FY22 1.1B TWD
FY23 919M TWD
FY24 1.3B TWD
FY25 1.9B TWD

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Cite: Fair Value Calculator (2026). "ASROCK Incorporation Fair Value". https://www.fairvalue-calculator.com/stock/3515

Peer Group

Computer Hardware · 215 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 52 · Below median
Fair Value upside +22% · Top 25%
Return on equity (TTM) 22% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 28% · Above median
Dividend yield (TTM) 5.5% · Top 25%

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 13.6× · Cheaper than 75% of peers
P/B 2.13× · Pricier than median
P/S (TTM) 0.50× · Cheaper than median
P/FCF 0.7× · Cheaper than median
EV/EBITDA 6.1× · 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 63 · sector 0
FUTURE 100 · sector 57
PAST 87 · sector 26
HEALTH 0 · sector 97
DIVIDEND 100 · sector 44

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is ASROCK Incorporation (3515) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 259.75 TWD versus a price of 212.50 TWD, about +22% (undervalued).
What is the fair value of 3515?
Our model-based fair value for ASROCK Incorporation is 259.75 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 212.50 TWD.
What is the quality score of 3515?
ASROCK Incorporation has a Quality Score of 52/100. 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 ASROCK Incorporation (3515)?
ASROCK Incorporation reported trailing-twelve-month revenue of about 50.7B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3515?
The net profit margin of ASROCK Incorporation is about 3.9%, meaning it keeps roughly 3.9% of revenue as net income. Based on the latest reported figures.
Does ASROCK Incorporation pay a dividend?
ASROCK Incorporation currently shows a dividend yield of about 5.45% 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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