Etrend Hightech (3567) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Etrend Hightech stock TWD 35.48, price TWD 23.65, upside +50.0%, quality 64 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range 21.81 TWD – 48.75 TWD · fair‑value band 27.74 TWD – 48.66 TWD · the 23.65 TWD price screens below the 35.48 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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ETREND Hightech Corp. tests and processes electronic components in Taiwan and Asia.
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The company offers test engineering services, including test program development, contactor/socket selection, handler to tester interface, device to tester correlation, and tester/handler platform conversion, as well as probe card, load board, and DUT board design/fabrication.
It also provides test production services, such as wafer sorting, laser trimming, ICs final testing, lead scan and visual/mechanical inspection, and drop shipment; test production equipment comprising testers, handlers, probers, laser trimmers, automated optical inspection systems, and tape and reel machines; and turn-key logistic management solutions.
The company was founded in 1989 and is based in Hsinchu City, Taiwan.
Stock analysis
Etrend Hightech (3567) currently trades at 23.65 TWD, while our model-based Fair Value estimate is 35.48 TWD, implying the stock looks roughly 33% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 29.42 TWD per share, and 9 of the 24 models we run sit above the 23.65 TWD price.
Bear case: the Asset-Based group reads lowest at 5.74 TWD, and 15 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 27.74 TWD (bear) to 48.66 TWD (bull), the price of 23.65 TWD sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Etrend Hightech reported revenue of 281M TWD in FY2025 versus 438M TWD in FY2021, a compound −10.5%/yr. Reported net income was 36.2M TWD in FY2025, compounding −23.4%/yr from FY2021.
Key figures
Market cap 803M TWD (≈ $24.5M) Micro · P/E ratio 21.5 · P/S ratio 2.83 · EPS (TTM) 1.10 TWD · Dividend yield 4.2% · Net margin 13.3% · Return on equity 6.8% · Return on assets (EBIT) 13.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 26% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −12% fair-value upside, at 50%, 3567 screens cheaper than that median.
Fair Value models
Bear27.74 TWDFair Value 35.48 TWDBull48.66 TWD
Price 23.65 TWD · Upside +50.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.0860 TWD per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF17.99 TWD23.36 TWD33.25 TWD81
Growth DCF18.63 TWD23.83 TWD32.68 TWD79
Owner Earnings18.19 TWD23.63 TWD33.65 TWD77
All 24 models by family
DCF Models
FCF DCF17.99 TWD23.36 TWD33.25 TWD81
Owner Earnings18.19 TWD23.63 TWD33.65 TWD77
5Y Revenue Exit15.89 TWD20.93 TWD28.25 TWD73
5Y EBITDA Exit30.00 TWD45.36 TWD65.70 TWD75
5Y P/E Exit21.22 TWD30.15 TWD40.82 TWD71
10Y Revenue Exit16.32 TWD20.14 TWD24.20 TWD68
10Y EBITDA Exit25.14 TWD35.18 TWD46.09 TWD69
10Y P/E Exit19.83 TWD25.82 TWD31.55 TWD65
Earnings-Based
Graham-Dodd7.24 TWD8.85 TWD9.95 TWD67
EPV10.03 TWD11.00 TWD11.85 TWD74
Dividend Discount
Gordon GGM16.39 TWD17.92 TWD20.26 TWD69
DDM Multi-Stage16.39 TWD20.50 TWD26.24 TWD67
Multiples
P/E Multiple22.36 TWD29.81 TWD37.26 TWD63
P/S Multiple13.57 TWD18.10 TWD22.62 TWD58
P/B Multiple21.77 TWD29.02 TWD36.28 TWD55
EV/EBIT26.35 TWD33.85 TWD41.35 TWD66
EV/EBITDA42.96 TWD56.01 TWD69.05 TWD67
EV/Revenue15.22 TWD20.09 TWD24.97 TWD54
Asset-Based
NCAV (Graham)3.79 TWD5.74 TWD7.18 TWD54
Growth DCF
Growth DCF18.63 TWD23.83 TWD32.68 TWD79
Rev-Margin DCF15.89 TWD21.26 TWD27.88 TWD74
Economic Profit
Residual Income13.65 TWD14.31 TWD15.43 TWD76
ROIC Compounder10.03 TWD11.00 TWD11.85 TWD72
Growth Earnings
Growth-Adj P/E15.64 TWD22.34 TWD29.04 TWD67
The fair value above starts from this blend and is adjusted for a cyclical trough year.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−10.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−8.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−6.2%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.9%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−10.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.3%
Dividend (yield on the price)4.2%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.26% → 15%
⚠ Revenue per share shrinking 4.0%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+0.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −0.8% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Semiconductors · 370 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside+50.0% · Top 25%
Profitability
Return on equity (12 months)6.8% · Below median
Return on assets5.9% · Above median
Net margin (12 months)13.3% · Above median
Operating margin (12 months)15.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)11.4% · Below median
Dividend yield (12 months)4.2% · Top 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Etrend Hightech Fair Value". https://www.fairvalue-calculator.com/stock/3567
Frequently asked questions
Is Etrend Hightech (3567) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 35.48 TWD versus a price of 23.65 TWD, about +50% upside (undervalued).
What is the fair value of 3567?
Our model-based fair value for Etrend Hightech is 35.48 TWD (as of Nov 4, 2026), built from audited fundamentals. The current price: 23.65 TWD.
What is the quality score of 3567?
Etrend Hightech 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 price target for Etrend Hightech (3567)?
Our model-based price target is the fair value of 35.48 TWD (as of Nov 4, 2026) from 24 valuation models. Cautious scenario 27.74 TWD, optimistic scenario 48.66 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Etrend Hightech stock forecast for 2026?
Our models put fair value at 35.48 TWD, about +50% upside versus a price of 23.65 TWD (undervalued). Cautious scenario 27.74 TWD, optimistic scenario 48.66 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Etrend Hightech (3567)?
Etrend Hightech reported trailing-twelve-month revenue of about 284M TWD (latest available figure, as of Nov 4, 2026).
Does Etrend Hightech pay a dividend?
Etrend Hightech currently shows a dividend yield of 4.23% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Etrend Hightech (3567) and when is the ex-dividend date?
Etrend Hightech pays a dividend of 1.00 TWD per share a year, a dividend yield of 4.2%. The last ex-dividend date was Jul 14, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 90.9% of earnings. Free cash flow covers the dividend 1.44 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Etrend Hightech (3567)?
For today's price to be fair in a discounted-cash-flow model, Etrend Hightech would have to grow free cash flow by +0.8 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.2 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of 3567 use?
Our models discount Etrend Hightech at 9.1 %: a base by market capitalisation (nano), damped by beta 0.54, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Etrend Hightech that is +0.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has Etrend Hightech (3567) delivered so far?
Over the past 5 years revenue at Etrend Hightech grew -6.2 % a year. The price currently implies free-cash-flow growth of +0.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Etrend Hightech (3567) growing?
The median revenue growth in the sector is +11.4 % a year. That is the yardstick for the growth priced into Etrend Hightech (+0.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Etrend Hightech (3567)?
The free-cash-flow yield on the price is 6.08 %: that much free cash flow Etrend Hightech produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Etrend Hightech (3567)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Etrend Hightech it is 35.48 TWD per share (as of Nov 4, 2026), against a price of 23.65 TWD. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Etrend Hightech stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 3567 trades below its calculated fair value: price 23.65 TWD, fair value 35.48 TWD, a gap of about +50% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 3567?
No. The price is what the market pays today (23.65 TWD); the fair value is what the company's own numbers justify (35.48 TWD). For Etrend Hightech the two are 11.83 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Etrend Hightech worth?
The market values Etrend Hightech at about 803M TWD (market capitalisation, as of Nov 4, 2026). Per share that is 23.65 TWD; our models calculate a fair value of 35.48 TWD per share.
What do the bullish and bearish scenarios say about 3567?
Our models span a range for Etrend Hightech: cautious scenario 27.74 TWD, base 35.48 TWD, optimistic 48.66 TWD per share (as of Nov 4, 2026, price 23.65 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3567?
Etrend Hightech trades at a price-to-earnings ratio of 21.5 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 35.48 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 12.6. Other multiples: P/B 1.4, P/S 2.8, EV/EBITDA 7.2.
How solid is the balance sheet of Etrend Hightech (3567)?
Balance-sheet figures for Etrend Hightech (as of Nov 4, 2026): return on equity 6.8%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 3567 from its 52-week high?
Etrend Hightech trades at 23.65 TWD, about 26% below its 52-week high of 32.15 TWD and 2% above the low of 23.30 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 35.48 TWD is for.
Which stocks are comparable to Etrend Hightech?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Etrend Hightech stock attractive at the current price?
The data as of Nov 4, 2026: price 23.65 TWD, calculated fair value 35.48 TWD (+50%), Quality Score 64/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 3567 calculated?
We run Etrend Hightech through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 35.48 TWD builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.7% above its aggregate fair value. Etrend Hightech currently trades 33% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Etrend Hightech (3567)?
The closing price on Nov 9, 2026 was 23.65 TWD. Our model-based fair value is 35.48 TWD, about +50% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Etrend Hightech right now?
The price is below even our cautious bear case (27.74 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Etrend Hightech
How large is the market capitalisation of Etrend Hightech (3567)?
The market capitalisation of Etrend Hightech is 803M TWD (≈ $24.5M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Etrend Hightech (3567)?
The price-to-sales ratio of Etrend Hightech is 2.83 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Etrend Hightech (3567)?
Earnings per share at Etrend Hightech are 1.10 TWD (price ÷ EPS = P/E 21.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Etrend Hightech (3567)?
The dividend yield of Etrend Hightech is 4.2% (payout 90.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Etrend Hightech (3567)?
The net margin of Etrend Hightech is 13.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Etrend Hightech (3567)?
The return on equity (ROE) of Etrend Hightech is 6.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Etrend Hightech (3567)?
On an EBIT basis the return on assets of Etrend Hightech is 13.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Etrend Hightech (3567)?
The operating margin of Etrend Hightech is 15.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Etrend Hightech (3567)?
Revenue at Etrend Hightech is growing +11.4% versus a year earlier (3y avg −8.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Etrend Hightech (3567)?
Earnings per share at Etrend Hightech are growing +122% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Etrend Hightech (3567) hold?
Etrend Hightech holds more cash than debt, 130M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
Why does Etrend Hightech not meet the fair value rule although the fair value shown is higher?
Trough year lifted: 23.83 TWD → 35.48 TWD. The latest year was a trough or loss year. So we calculate with a normal year: 35.48 TWD instead of 23.83 TWD. As in the backtest, the fair value rule checks the value before: +1% against the price.
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Thin data
Nov 4, 2026