Thermaltake Technology Co (3540) Fair Value & Analysis
Technology · TW · Market cap 1.8B TWD
Fair value as of: Jul 23, 2026
From 15 valuation models · updated 18 days ago
Fair value updated Jul 23, 2026, revised from 12.61 TWD to 11.11 TWD (−11.9%) since Jul 9, 2026. Share price −12.5% over the past month.
Below-average quality, and screening another 47% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (13.53 TWD). The favourable scenario is already priced in.
- Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 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
60‑month range 19.45 TWD – 64.45 TWD · fair‑value band 9.55 TWD – 13.53 TWD · the 20.95 TWD price screens above the 11.11 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Thermaltake Technology Co (3540) currently trades at 20.95 TWD, while our model-based Fair Value estimate is 11.11 TWD, implying the stock looks roughly 47.0% overvalued today. The Quality Score stands at 48/100 (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: high).
Over the trailing twelve months, Thermaltake Technology Co generated revenue of 5.1B TWD at a net margin of 0.4%. Revenue declined 3.8% year over year. It earns a return on equity of 0.9%. Net debt stands at 1.6B TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 9.55 TWD (bear case) to 13.53 TWD (bull case); at 20.95 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 49% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -33% fair-value upside, at -47%, 3540 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 15 models by family
Widest divergence: DCF Models (39.63 TWD) versus Earnings-Based (3.80 TWD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 45 · Market factors (momentum, volatility) 26
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
Thermaltake Technology Co., Ltd. engages in the wholesale of electronic materials, office machinery, and equipment in America, Asia, Europe, Taiwan, and internationally.
Full company description
Thermaltake Technology Co., Ltd. engages in the wholesale of electronic materials, office machinery, and equipment in America, Asia, Europe, Taiwan, and internationally. The company offers chassis, power supply units, cooling systems, memory modules, gaming PCs, gaming peripherals, and gaming furniture under the Thermaltake brand; keyboards, headsets, mice, and accessories under the Tt eSPORTS brand name; and mobile accessories under the LUXA2 brand. It also offers cycle under the Thermaltake cycle brand name. It is also involved in design and trading of computers and peripheral equipment. Thermaltake Technology Co., Ltd. was Incorporated in 1999 and is headquartered in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Thermaltake Technology Co reported revenue of 5.1B TWD in FY2025 versus 4.2B TWD in FY2021, a compound +4.9%/yr. Reported net income was 53.8M TWD in FY2025, compounding −29.5%/yr from FY2021.
3540 screens 47% overvalued. Compare with TD SYNNEX Corporation →
Peer Group
Electronics & Computer Distribution · 151 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 Electronics & Computer Distribution 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 Electronics & Computer Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| TD SYNNEX Corporation SNX | $251.52 | $207.02 | -18% |
| Unisplendour Corporation 000938 | ¥38.59 | ¥11.79 | -69% |
| Rexel S.A RXL | €38.59 | €33.31 | -14% |
| Arrow Electronics, Inc ARW | $204.10 | $115.40 | -43% |
| Avnet, Inc AVT | $87.13 | $58.57 | -33% |
| WPG Holdings 3702 | 106.50 TWD | 102.31 TWD | -4% |
| Shenzhen Huaqiang Industry Co 000062 | ¥22.37 | ¥7.52 | -66% |
| Synnex Technology International Corporation 2347 | 85.30 TWD | 86.30 TWD | +1% |
| Nanjing Sunlord Electronics Corporation 300975 | ¥37.37 | ¥8.60 | -77% |
| Beijing Tricolor Technology Co 603516 | ¥106.52 | ¥23.39 | -78% |
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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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