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Shian Yih Electronic Industry Co (3531) Fair Value & Analysis

Technology · TW · Market cap 1.4B TWD

SY Shian Yih Electronic Industry Co 3531 · TWO
Price21.40 TWD
Fair Value15.14 TWD
Upside-29.3%
Quality64/100
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Weak Growth
Thin margins · 1.2% net margin
Low debt · generates free cash flow
2.19% dividend yield
Mixed vs. peers (8/14)
Narrow moat 22/100
Evidence: High Range 13.90 TWD – 17.00 TWD Share as image

Fair value as of: Jul 23, 2026

From 21 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 7.57 TWD to 15.14 TWD (+100.0%) since Jul 9, 2026. Share price −5.7% over the past month.

A solid business, but screening 29% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (17.00 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)

33.13 TWD 16.37 TWD Fair Value 15.14 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 16.37 TWD – 33.13 TWD · fair‑value band 13.90 TWD – 17.00 TWD · the 21.40 TWD price screens above the 15.14 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Shian Yih Electronic Industry Co (3531) currently trades at 21.40 TWD, while our model-based Fair Value estimate is 15.14 TWD, implying the stock looks roughly 29.3% 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, Shian Yih Electronic Industry Co generated revenue of 1.2B TWD at a net margin of 1.2%. Revenue declined 25.2% year over year. It earns a return on equity of 0.6%. The stock trades on a trailing P/E of 77.9. Fundamentals as of Jul 23, 2026

Our scenario range runs from 13.90 TWD (bear case) to 17.00 TWD (bull case); at 21.40 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 12% below its 52-week high and 8% 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 -29%, 3531 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 33.59 TWD 37.90 TWD 44.56 TWD 80
Residual Income 19.64 TWD 18.19 TWD 12.11 TWD 76
Rev-Margin DCF 33.35 TWD 40.49 TWD 49.25 TWD 74
All 21 models by family
DCF Models
FCF DCF 33.11 TWD 37.65 TWD 45.27 TWD 38
Owner Earnings 22.36 TWD 23.64 TWD 25.78 TWD 31
5Y Revenue Exit 33.35 TWD 40.10 TWD 49.89 TWD 39
5Y EBITDA Exit 30.12 TWD 34.51 TWD 40.32 TWD 41
5Y P/E Exit 26.84 TWD 28.84 TWD 31.28 TWD 38
10Y Revenue Exit 32.78 TWD 37.44 TWD 42.40 TWD 36
10Y EBITDA Exit 31.36 TWD 34.28 TWD 37.28 TWD 37
10Y P/E Exit 29.54 TWD 31.08 TWD 32.43 TWD 35
Earnings-Based
Graham-Dodd 2.01 TWD 2.45 TWD 2.76 TWD 54
Dividend Discount
Gordon GGM 6.22 TWD 6.70 TWD 7.42 TWD 70
DDM Multi-Stage 6.22 TWD 7.40 TWD 8.93 TWD 61
Multiples
P/E Multiple 4.43 TWD 5.91 TWD 7.38 TWD 63
P/S Multiple 3.76 TWD 5.02 TWD 6.27 TWD 58
P/B Multiple 3.76 TWD 5.02 TWD 6.27 TWD 55
EV/EBITDA 29.40 TWD 33.14 TWD 36.89 TWD 54
EV/Revenue 34.92 TWD 42.11 TWD 49.29 TWD 43
Asset-Based
NCAV (Graham) 15.18 TWD 20.34 TWD 30.36 TWD 50
Growth DCF
Growth DCF 33.59 TWD 37.90 TWD 44.56 TWD 80
Rev-Margin DCF 33.35 TWD 40.49 TWD 49.25 TWD 74
Economic Profit
Residual Income 19.64 TWD 18.19 TWD 12.11 TWD 76
Growth Earnings
Growth-Adj P/E 3.13 TWD 4.48 TWD 5.82 TWD 68

Widest divergence: Growth DCF (37.90 TWD) versus Earnings-Based (2.45 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.2B TWD
Revenue growth (YoY) -25.2%
Net margin 1.2%
Return on equity 0.6%
Free cash flow 113M TWD FY2025
P/E ratio 77.9
More key figures
Operating margin -1.4%
EPS (TTM) 0.2900 TWD
Dividend yield 2.2%
EPS growth (YoY) -14.4%

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 66 · Market factors (momentum, volatility) 52

Profitability 22
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 82
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

Shian Yih Electronic Industry Co.,Ltd, together with its subsidiaries, manufactures and sells of back light modules in Taiwan, China, Japan, the United States, and internationally.

Full company description

Shian Yih Electronic Industry Co.,Ltd, together with its subsidiaries, manufactures and sells of back light modules in Taiwan, China, Japan, the United States, and internationally. It provides small to medium size LED back light modules for automotive, tablets, and watches; light guide films; motorcycle and vehicle LED headlight modules; precision injection molds for electronic housing, mobile phones and MP4, microphone, and car and navigation system backlight housing. The company also offers plastic products, including plastic frames, light guide plates, precision plastic parts, molds, mold design and manufacturing, and other products. Shian Yih Electronic Industry Co.,Ltd was incorporated in 1979 and is headquartered in Taichung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shian Yih Electronic Industry Co reported revenue of 1.3B TWD in FY2025 versus 2.1B TWD in FY2021, a compound −11.0%/yr. Reported net income was 18.1M TWD in FY2025, compounding −32.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.3B TWD
Latest YoY
−18.1%
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.
−16.7%
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.
−5.3%
Avg. growth/yr (17Y) 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.
−2.1%
Revenue −11.0%/yr
FY21 2.1B TWD
FY22 2.2B TWD
FY23 2.1B TWD
FY24 1.6B TWD
FY25 1.3B TWD
Net income −32.0%/yr
FY21 84.6M TWD
FY22 185M TWD
FY23 149M TWD
FY24 82.6M TWD
FY25 18.1M TWD

3531 screens 29% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "Shian Yih Electronic Industry Co Fair Value". https://www.fairvalue-calculator.com/stock/3531

Peer Group

Semiconductors · 321 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 · Above median
Fair Value upside −29% · Above median
Return on equity (TTM) 1% · Below median
Return on assets -0% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) -1% · Below median
Revenue growth -25% · Bottom 25%
Dividend yield (TTM) 2.2% · Above median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 78.6× · Pricier than median
P/B 0.75× · Cheaper than 75% of peers
P/S (TTM) 1.16× · Cheaper than median
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 6.0× · 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 0 · sector 0
FUTURE 0 · sector 60
PAST 3 · sector 24
HEALTH 100 · sector 97
DIVIDEND 44 · sector 21

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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $418.47 $208.16 -50%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc 1MU €784.90 €185.67 -76%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is Shian Yih Electronic Industry Co (3531) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 15.14 TWD versus a price of 21.40 TWD, about −29% (overvalued).
What is the fair value of 3531?
Our model-based fair value for Shian Yih Electronic Industry Co is 15.14 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 21.40 TWD.
What is the quality score of 3531?
Shian Yih Electronic Industry 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 Shian Yih Electronic Industry Co (3531)?
Shian Yih Electronic Industry Co reported trailing-twelve-month revenue of about 1.2B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3531?
The net profit margin of Shian Yih Electronic Industry Co is about 1.2%, meaning it keeps roughly 1.2% of revenue as net income. Based on the latest reported figures.
Does Shian Yih Electronic Industry Co pay a dividend?
Shian Yih Electronic Industry Co currently shows a dividend yield of about 2.17% 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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