United Renewable Energy Co (3576) Fair Value & Analysis
Technology · TW · Market cap 31.1B TWD
Fair value as of: Jul 21, 2026
From 3 valuation models · updated 19 days ago
Share price +5.6% over the past month.
Below-average quality, and screening another 75% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (6.38 TWD). The favourable scenario is already priced in.
- Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- A fairly wide model range (3.19 TWD to 6.38 TWD) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
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 6.00 TWD – 26.70 TWD · fair‑value band 3.19 TWD – 6.38 TWD · the 16.95 TWD price screens above the 4.28 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
United Renewable Energy Co (3576) currently trades at 16.95 TWD, while our model-based Fair Value estimate is 4.28 TWD, implying the stock looks roughly 74.8% overvalued today. The Quality Score stands at 35/100 (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: low).
Over the trailing twelve months, United Renewable Energy Co generated revenue of 2.6B TWD at a net margin of 26.2%. Revenue declined 46.9% year over year. It earns a return on equity of 5.6%. Net debt stands at 6.0B TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 3.19 TWD (bear case) to 6.38 TWD (bull case); at 16.95 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 39% below its 52-week high and 183% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -7% fair-value upside, at -75%, 3576 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 3 models by family
Widest divergence: Asset-Based (4.28 TWD) versus Dividend Discount (1.00 TWD). Highest evidence: Gordon GGM (70).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 33 · Market factors (momentum, volatility) 72
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
United Renewable Energy Co., Ltd. engages in the research, design, development, manufacture, and sale of solar cells and related systems, solar power generation modules, and wafers in Taiwan, Europe, the United States, Singapore, and internationally. It operates through the Solar Energy and Other segments.
Full company description
United Renewable Energy Co., Ltd. engages in the research, design, development, manufacture, and sale of solar cells and related systems, solar power generation modules, and wafers in Taiwan, Europe, the United States, Singapore, and internationally. It operates through the Solar Energy and Other segments. The company offers smart optimizers; inverter; solar cell, solar module, and sale and service. It also engages in solar system business; construction services and energy storage solutions; and offers energy management systems and special project solutions. The company was formerly known as Neo Solar Power Corp. United Renewable Energy Co., Ltd. was incorporated in 2005 and is headquartered in Hsinchu City, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
United Renewable Energy Co reported revenue of 3.0B TWD in FY2025 versus 14.3B TWD in FY2021, a compound −32.1%/yr. Reported net income was −1.2B TWD in FY2025.
3576 screens 75% overvalued. Compare with First Solar, Inc →
Peer Group
Solar · 119 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 Solar 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 Solar stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $221.03 | $284.45 | +29% |
| Nextpower Inc NXT | $111.50 | $69.61 | -38% |
| Waaree Energies Limited WAAREEENER | ₹2,923 | ₹3,613 | +24% |
| Tongwei Co 600438 | ¥13.08 | ¥12.13 | -7% |
| Jinko Solar Co 688223 | ¥4.39 | ¥4.75 | +8% |
| Hengdian Group 002056 | ¥21.64 | ¥22.76 | +5% |
| CSI Solar Co 688472 | ¥10.11 | ¥7.01 | -31% |
| Enphase Energy, Inc ENPH | $44.83 | $22.20 | -50% |
| Premier Energies Limited PREMIERENE | ₹1,086 | ₹912.32 | -16% |
| Trina Solar Co 688599 | ¥12.98 | ¥7.97 | -39% |
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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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