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Lotes Co (3533) Fair Value & Analysis

Technology · TW · Market cap 209B TWD

LC Lotes Co 3533 · TW
Price1,910 TWD
Fair Value1,402 TWD
Upside-26.6%
Quality61/100
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Mixed Growth
Highly profitable · 22.6% net margin
Low debt · generates free cash flow
1.46% dividend yield
Ranks above peers (12/14)
Wide moat 80/100
Evidence: Medium Range 876.55 TWD – 1,880 TWD Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 21 days ago

Share price −4.0% over the past month.

A solid business, but screening 27% overvalued on our models.

What matters now

  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (876.55 TWD to 1,880 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

2,850 TWD 429.00 TWD Fair Value 1,402 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 429.00 TWD – 2,850 TWD · fair‑value band 876.55 TWD – 1,880 TWD · the 1,910 TWD price screens above the 1,402 TWD fair value. Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

Lotes Co (3533) currently trades at 1,910 TWD, while our model-based Fair Value estimate is 1,402 TWD, implying the stock looks roughly 26.6% overvalued today. The Quality Score stands at 61/100 (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: medium).

Over the trailing twelve months, Lotes Co generated revenue of 35.3B TWD at a net margin of 22.6%. Revenue grew 20.1% year over year. It earns a return on equity of 19.1%. The balance sheet holds a net cash position of 11.5B TWD. Fundamentals as of Jul 19, 2026

Our scenario range runs from 876.55 TWD (bear case) to 1,880 TWD (bull case); at 1,910 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 35% below its 52-week high and 68% 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 -27%, 3533 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
Growth DCF 544.06 TWD 938.91 TWD 1,683 TWD 80
Residual Income 462.01 TWD 575.35 TWD 1,822 TWD 76
Rev-Margin DCF 614.40 TWD 1,056 TWD 1,655 TWD 74
All 26 models by family
DCF Models
FCF DCF 551.17 TWD 988.62 TWD 1,842 TWD 38
Owner Earnings 802.52 TWD 1,493 TWD 2,827 TWD 31
5Y Revenue Exit 614.40 TWD 1,076 TWD 1,728 TWD 39
5Y EBITDA Exit 987.15 TWD 1,879 TWD 3,052 TWD 41
5Y P/E Exit 937.91 TWD 1,773 TWD 2,775 TWD 38
10Y Revenue Exit 572.79 TWD 1,020 TWD 1,759 TWD 36
10Y EBITDA Exit 850.17 TWD 1,637 TWD 2,943 TWD 37
10Y P/E Exit 816.16 TWD 1,556 TWD 2,695 TWD 35
Earnings-Based
Graham-Dodd 476.63 TWD 2,550 TWD 3,532 TWD 54
Lynch FV 704.08 TWD 1,006 TWD 1,308 TWD 50
PEG = 1.0 704.08 TWD 1,006 TWD 1,308 TWD 46
EPV 830.59 TWD 957.98 TWD 1,071 TWD 59
Dividend Discount
Gordon GGM 400.30 TWD 873.92 TWD 1,470 TWD 70
DDM Multi-Stage 400.30 TWD 715.88 TWD 910.77 TWD 61
Multiples
P/E Multiple 1,051 TWD 1,402 TWD 1,752 TWD 63
P/S Multiple 564.45 TWD 752.60 TWD 940.75 TWD 58
P/B Multiple 770.78 TWD 1,028 TWD 1,285 TWD 55
EV/EBIT 1,353 TWD 1,768 TWD 2,183 TWD 53
EV/EBITDA 1,234 TWD 1,609 TWD 1,985 TWD 54
EV/Revenue 635.58 TWD 861.36 TWD 1,087 TWD 43
Asset-Based
NCAV (Graham) 171.28 TWD 229.52 TWD 342.57 TWD 50
Growth DCF
Growth DCF 544.06 TWD 938.91 TWD 1,683 TWD 80
Rev-Margin DCF 614.40 TWD 1,056 TWD 1,655 TWD 74
Economic Profit
Residual Income 462.01 TWD 575.35 TWD 1,822 TWD 76
ROIC Compounder 944.01 TWD 1,245 TWD 1,636 TWD 72
Growth Earnings
Growth-Adj P/E 1,012 TWD 1,446 TWD 1,880 TWD 68

Widest divergence: DCF Models (1,493 TWD) versus Asset-Based (229.52 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 35.3B TWD
Revenue growth (YoY) +20.1%
Net margin 22.6%
Return on equity 19.1%
Free cash flow 3.4B TWD FY2025
P/E ratio 33.8
More key figures
Operating margin 29.0%
EPS (TTM) 70.00 TWD
Dividend yield 1.5%
EPS growth (YoY) +5.6%
Net cash 11.5B TWD FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 62 · Market factors (momentum, volatility) 56

Profitability 73
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 19
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 73
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

Lotes Co., Ltd., together with its subsidiaries, designs, manufactures, and sells precision electronic interconnect components and hardware parts in Taiwan, China, and internationally.

Full company description

Lotes Co., Ltd., together with its subsidiaries, designs, manufactures, and sells precision electronic interconnect components and hardware parts in Taiwan, China, and internationally. It offers CPU, sim card, SPI, and automotive sockets; liquid cooling solutions; memory connectors; slot/edge cards; single and double compression interposers; signal/power solutions, including bus bar, card edge, header, power wafer, and wire to board; and I/O series products, such as audio and power jacks, display port, HDMI, RJ45, SATA/SAS, sim card connector, and USB. The company also provides tact switches; battery holders; board to board solutions; FPC connectors; miniature RF; cable assembly; and automotive solutions comprising BMS, CCS, BOX, bus-bar, ECU, AC, AV, lighting, HV, e-bike, and wire harness series. It exports its products. The company was incorporated in 1986 and is headquartered in Keelung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lotes Co reported revenue of 33.8B TWD in FY2025 versus 21.4B TWD in FY2021, a compound +12.1%/yr. Reported net income was 7.9B TWD in FY2025, compounding +22.7%/yr from FY2021.

Growth Quality 91/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
33.8B TWD
Latest YoY
+12.3%
Avg. growth/yr (3Y)
+7.6%
Avg. growth/yr (5Y)
+14.3%
Avg. growth/yr (19Y)
+16.8%
Revenue +12.1%/yr
FY21 21.4B TWD
FY22 27.1B TWD
FY23 24.5B TWD
FY24 30.1B TWD
FY25 33.8B TWD
Net income +22.7%/yr
FY21 3.5B TWD
FY22 6.3B TWD
FY23 5.6B TWD
FY24 9.3B TWD
FY25 7.9B TWD

3533 screens 27% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Lotes Co Fair Value". https://www.fairvalue-calculator.com/stock/3533

Peer Group

Electronic Components · 626 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 61 · Above median
Fair Value upside −27% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 23% · Top 25%
Operating margin (TTM) 29% · Top 25%
Revenue growth 20% · Top 25%
Dividend yield (TTM) 1.5% · Above median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 26.6× · Cheaper than median
P/B 5.44× · Pricier than 75% of peers
P/S (TTM) 5.92× · Pricier than 75% of peers
P/FCF 1.9× · Cheaper than median
EV/EBITDA 15.0× · 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 100 · sector 32
PAST 76 · sector 24
HEALTH 100 · sector 95
DIVIDEND 29 · sector 25

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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 19, 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 Lotes Co (3533) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 1,402 TWD versus a price of 1,910 TWD, about −27% (overvalued).
What is the fair value of 3533?
Our model-based fair value for Lotes Co is 1,402 TWD (as of Jul 19, 2026), built from audited fundamentals. The current price is 1,910 TWD.
What is the quality score of 3533?
Lotes Co has a Quality Score of 61/100. 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 Lotes Co (3533)?
Lotes Co reported trailing-twelve-month revenue of about 35.3B TWD (latest available figure, as of Jul 19, 2026).
What is the net profit margin of 3533?
The net profit margin of Lotes Co is about 22.6%, meaning it keeps roughly 22.6% of revenue as net income. Based on the latest reported figures.
Does Lotes Co pay a dividend?
Lotes Co currently shows a dividend yield of about 1.46% relative to its recent price (as of Jul 19, 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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