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AEWIN Technologies Co (3564) Fair Value & Analysis

Technology · TW · Market cap 2.8B TWD

AT AEWIN Technologies Co 3564 · TWO
Price48.10 TWD
Fair Value11.20 TWD
Upside-76.7%
Quality58/100
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Healthy Growth
Thin margins · 0.7% net margin
Low debt · generates free cash flow
0.59% dividend yield
Trails peers (3/14)
Narrow moat 12/100
Evidence: High Range 8.27 TWD – 15.23 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price −10.6% over the past month.

A solid business, but screening 77% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (15.23 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (8.27 TWD to 15.23 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

126.64 TWD 18.71 TWD Fair Value 11.20 TWD Feb 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 18.71 TWD – 126.64 TWD · fair‑value band 8.27 TWD – 15.23 TWD · the 48.10 TWD price screens above the 11.20 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

AEWIN Technologies Co (3564) currently trades at 48.10 TWD, while our model-based Fair Value estimate is 11.20 TWD, implying the stock looks roughly 76.7% overvalued today. The Quality Score stands at 58/100 (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, AEWIN Technologies Co generated revenue of 2.6B TWD at a net margin of 0.7%. Revenue grew 11.8% year over year. It earns a return on equity of 1.3%. Net debt stands at 293M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 8.27 TWD (bear case) to 15.23 TWD (bull case); at 48.10 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 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -77%, 3564 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.

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 15.37 TWD 25.77 TWD 41.85 TWD 80
Residual Income 16.63 TWD 15.94 TWD 12.96 TWD 76
Rev-Margin DCF 9.69 TWD 15.78 TWD 23.36 TWD 74
All 24 models by family
DCF Models
FCF DCF 15.38 TWD 26.45 TWD 44.04 TWD 38
Owner Earnings 14.16 TWD 24.42 TWD 40.72 TWD 31
5Y Revenue Exit 9.69 TWD 15.72 TWD 23.48 TWD 39
5Y EBITDA Exit 15.55 TWD 27.35 TWD 41.68 TWD 41
5Y P/E Exit 10.28 TWD 16.88 TWD 24.04 TWD 38
10Y Revenue Exit 11.32 TWD 17.48 TWD 26.07 TWD 36
10Y EBITDA Exit 15.32 TWD 25.64 TWD 40.43 TWD 37
10Y P/E Exit 11.95 TWD 18.29 TWD 26.52 TWD 35
Earnings-Based
Graham-Dodd 4.41 TWD 17.80 TWD 24.21 TWD 54
Lynch FV 4.44 TWD 6.34 TWD 8.25 TWD 50
PEG = 1.0 4.44 TWD 6.34 TWD 8.25 TWD 46
EPV 6.11 TWD 7.27 TWD 8.27 TWD 59
Multiples
P/E Multiple 9.73 TWD 12.97 TWD 16.22 TWD 63
P/S Multiple 8.27 TWD 11.03 TWD 13.78 TWD 58
P/B Multiple 8.27 TWD 11.03 TWD 13.78 TWD 55
EV/EBIT 10.88 TWD 14.92 TWD 18.96 TWD 53
EV/EBITDA 17.38 TWD 23.58 TWD 29.78 TWD 54
EV/Revenue 6.94 TWD 10.43 TWD 13.93 TWD 43
Asset-Based
NCAV (Graham) 11.75 TWD 15.74 TWD 23.50 TWD 50
Growth DCF
Growth DCF 15.37 TWD 25.77 TWD 41.85 TWD 80
Rev-Margin DCF 9.69 TWD 15.78 TWD 23.36 TWD 74
Economic Profit
Residual Income 16.63 TWD 15.94 TWD 12.96 TWD 76
ROIC Compounder 6.11 TWD 7.27 TWD 8.27 TWD 72
Growth Earnings
Growth-Adj P/E 7.54 TWD 10.77 TWD 14.00 TWD 68

Widest divergence: DCF Models (18.29 TWD) versus Earnings-Based (6.34 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.6B TWD
Revenue growth (YoY) +11.8%
Net margin 0.7%
Return on equity 1.3%
Free cash flow 84.3M TWD FY2025
P/E ratio 73.1
More key figures
Operating margin -3.8%
EPS (TTM) 0.6500 TWD
Dividend yield 0.6%
EPS growth (YoY) -40.1%
Net debt 293M TWD FY2025

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 59 · Market factors (momentum, volatility) 37

Profitability 35
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 83
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

AEWIN Technologies Co.,Ltd. engages in the design, manufacture, and sale of network security-related products in Asia, the United States, and Europe.

Full company description

AEWIN Technologies Co.,Ltd. engages in the design, manufacture, and sale of network security-related products in Asia, the United States, and Europe. The company offers network appliances; general purpose and edge computing servers, and workstations; network expansion modules; functional modules; and standard PCIe cards, including network interface, QAT crypto acceleration, OCP QAT, and storage adapter cards. It also provides workload optimization systems and Edge AI solutions; and ODM/OEM services. The company's products are used for network computing, software-defined wide area network, network functions virtualization infrastructure, multi-access edge computing/edge AI, and 5G/vRAN applications. The company was founded in 1989 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AEWIN Technologies Co reported revenue of 2.5B TWD in FY2025 versus 2.0B TWD in FY2021, a compound +5.5%/yr. Reported net income was 38.3M TWD in FY2025, compounding −3.7%/yr from FY2021.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.5B TWD
Latest YoY
+9.3%
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.
+0.5%
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.
+7.2%
Avg. growth/yr (6Y) 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.
+8.7%
Revenue +5.5%/yr
FY21 2.0B TWD
FY22 2.5B TWD
FY23 2.0B TWD
FY24 2.3B TWD
FY25 2.5B TWD
Net income −3.7%/yr
FY21 44.6M TWD
FY22 154M TWD
FY23 26.6M TWD
FY24 52.9M TWD
FY25 38.3M TWD

3564 screens 77% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "AEWIN Technologies Co Fair Value". https://www.fairvalue-calculator.com/stock/3564

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 58 · Above median
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) -4% · Bottom 25%
Revenue growth 12% · Above median
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.35× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 73.1× · Pricier than 75% of peers
P/B 2.02× · Pricier than median
P/S (TTM) 1.10× · Pricier than median
P/FCF 1.0× · Cheaper than median
EV/EBITDA 38.2× · Pricier 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 59 · sector 57
PAST 5 · sector 26
HEALTH 82 · sector 97
DIVIDEND 12 · sector 44

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 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 AEWIN Technologies Co (3564) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 11.20 TWD versus a price of 48.10 TWD, about −77% (overvalued).
What is the fair value of 3564?
Our model-based fair value for AEWIN Technologies Co is 11.20 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 48.10 TWD.
What is the quality score of 3564?
AEWIN Technologies Co has a Quality Score of 58/100. 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 AEWIN Technologies Co (3564)?
AEWIN Technologies Co reported trailing-twelve-month revenue of about 2.6B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3564?
The net profit margin of AEWIN Technologies Co is about 0.7%, meaning it keeps roughly 0.7% of revenue as net income. Based on the latest reported figures.
Does AEWIN Technologies Co pay a dividend?
AEWIN Technologies Co currently shows a dividend yield of about 0.59% 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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