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Materials Analysis Technology Inc (3587) Fair Value & Analysis

Technology · TW · Market cap 18.0B TWD

MA Materials Analysis Technology Inc 3587 · TWO
Price255.50 TWD
Fair Value191.25 TWD
Upside-25.2%
Quality57/100
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Expensive Growth
Thin margins · 8.8% net margin
Low debt · generates free cash flow
1.76% dividend yield
Ranks above peers (10/14)
Moderate moat 49/100
Evidence: High Range 143.43 TWD – 239.06 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 17 days ago

Fair value updated Jul 23, 2026, revised from 116.60 TWD to 191.25 TWD (+64.0%) since Jul 9, 2026. Share price −11.0% over the past month.

A solid business, but screening 25% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (239.06 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

396.00 TWD 84.63 TWD Fair Value 191.25 TWD Feb 2021 Aug 2026

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 84.63 TWD – 396.00 TWD · fair‑value band 143.43 TWD – 239.06 TWD · the 255.50 TWD price screens above the 191.25 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Materials Analysis Technology Inc (3587) currently trades at 255.50 TWD, while our model-based Fair Value estimate is 191.25 TWD, implying the stock looks roughly 25.2% overvalued today. The Quality Score stands at 57/100 (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, Materials Analysis Technology Inc generated revenue of 5.7B TWD at a net margin of 8.8%. Revenue grew 15.0% year over year. It earns a return on equity of 10.5%. The balance sheet holds a net cash position of 180M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 143.43 TWD (bear case) to 239.06 TWD (bull case); at 255.50 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 36% below its 52-week high and 72% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -45% fair-value upside, at -25%, 3587 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 173.32 TWD 332.27 TWD 586.90 TWD 80
Residual Income 59.27 TWD 64.08 TWD 75.28 TWD 76
Rev-Margin DCF 128.92 TWD 211.98 TWD 329.15 TWD 74
All 26 models by family
DCF Models
FCF DCF 177.98 TWD 306.06 TWD 634.43 TWD 38
Owner Earnings 185.60 TWD 360.38 TWD 701.14 TWD 31
5Y Revenue Exit 128.92 TWD 214.81 TWD 335.95 TWD 39
5Y EBITDA Exit 266.40 TWD 523.19 TWD 870.21 TWD 41
5Y P/E Exit 127.87 TWD 212.46 TWD 314.46 TWD 38
10Y Revenue Exit 140.28 TWD 231.51 TWD 382.22 TWD 36
10Y EBITDA Exit 237.90 TWD 468.91 TWD 869.44 TWD 37
10Y P/E Exit 142.72 TWD 229.70 TWD 363.67 TWD 35
Earnings-Based
Graham-Dodd 39.64 TWD 239.08 TWD 333.30 TWD 54
Lynch FV 68.24 TWD 97.48 TWD 126.72 TWD 50
PEG = 1.0 68.24 TWD 97.48 TWD 126.72 TWD 46
EPV 89.56 TWD 100.63 TWD 110.31 TWD 59
Dividend Discount
Gordon GGM 61.17 TWD 127.18 TWD 201.76 TWD 70
DDM Multi-Stage 61.17 TWD 107.24 TWD 133.48 TWD 61
Multiples
P/E Multiple 87.45 TWD 116.60 TWD 145.75 TWD 63
P/S Multiple 74.33 TWD 99.11 TWD 123.89 TWD 58
P/B Multiple 74.33 TWD 99.11 TWD 123.89 TWD 55
EV/EBIT 146.39 TWD 187.47 TWD 228.55 TWD 53
EV/EBITDA 316.76 TWD 414.64 TWD 512.51 TWD 54
EV/Revenue 106.22 TWD 141.82 TWD 177.43 TWD 43
Asset-Based
NCAV (Graham) 34.89 TWD 46.75 TWD 69.78 TWD 50
Growth DCF
Growth DCF 173.32 TWD 332.27 TWD 586.90 TWD 80
Rev-Margin DCF 128.92 TWD 211.98 TWD 329.15 TWD 74
Economic Profit
Residual Income 59.27 TWD 64.08 TWD 75.28 TWD 76
ROIC Compounder 101.17 TWD 137.32 TWD 175.17 TWD 72
Growth Earnings
Growth-Adj P/E 96.79 TWD 138.27 TWD 179.75 TWD 68

Widest divergence: DCF Models (231.51 TWD) versus Asset-Based (46.75 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 5.7B TWD
Revenue growth (YoY) +15.0%
Net margin 8.8%
Return on equity 10.5%
Free cash flow 746M TWD FY2025
P/E ratio 43.4
More key figures
Operating margin 12.7%
EPS (TTM) 5.93 TWD
Dividend yield 1.8%
EPS growth (YoY) +186%
Net cash 180M TWD FY2023

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 60 · Market factors (momentum, volatility) 51

Profitability 38
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 35
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 70
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

Materials Analysis Technology Inc. engages in the research and development, and intellectual property services in Taiwan, Mainland China, Japan, the United States, and internationally.

Full company description

Materials Analysis Technology Inc. engages in the research and development, and intellectual property services in Taiwan, Mainland China, Japan, the United States, and internationally. It offers reliability, non-destructive, electrical failure, materials, surface, physicochemical, and nano solution analysis, as well as circuit edit, sample preparation, and total solution services, including FA flow, benchmark analysis, and project services. The company also provides educational support and related technical consultation services; and researches for, develops, manufactures, and trades new electronic components and testing technologies. It serves integrated circuit, flat-screen display, optoelectronics, testing and packaging, nano components and materials industries, and compound semiconductors. Materials Analysis Technology Inc. was founded in 2002 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

Materials Analysis Technology Inc reported revenue of 5.5B TWD in FY2025 versus 3.4B TWD in FY2021, a compound +13.3%/yr. Reported net income was 407M TWD in FY2025, compounding −8.7%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
5.5B TWD
Latest YoY
+8.5%
Avg. growth/yr (3Y)
+11.7%
Avg. growth/yr (5Y)
+12.6%
Avg. growth/yr (16Y)
+18.9%
Revenue +13.3%/yr
FY21 3.4B TWD
FY22 4.0B TWD
FY23 4.8B TWD
FY24 5.1B TWD
FY25 5.5B TWD
Net income −8.7%/yr
FY21 587M TWD
FY22 627M TWD
FY23 686M TWD
FY24 688M TWD
FY25 407M TWD

3587 screens 25% overvalued. Compare with Keysight Technologies, Inc →

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Cite: Fair Value Calculator (2026). "Materials Analysis Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/3587

Peer Group

Scientific & Technical Instruments · 161 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 57 · Above median
Fair Value upside −25% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 5% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 13% · Above median
Revenue growth 15% · Above median
Dividend yield (TTM) 1.8% · Above median
Debt / equity 0.19× · Higher than median

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 43.4× · Pricier than median
P/B 3.69× · Pricier than median
P/S (TTM) 3.14× · Pricier than median
P/FCF 0.7× · Cheaper than 75% of peers
EV/EBITDA 8.2× · Cheaper 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 75 · sector 34
PAST 42 · sector 25
HEALTH 90 · sector 98
DIVIDEND 35 · sector 24

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Keysight Technologies, Inc KEYS $315.90 $84.16 -73%
Garmin Ltd GRMN $241.76 $146.67 -39%
Teledyne Technologies Incorporated TDY $635.52 $367.58 -42%
Chroma ATE Inc 2360 1,905 TWD 286.15 TWD -85%
Hexagon AB HEXAB kr 80.10 kr 52.93 -34%
MKS Inc MKSI $324.69 $77.46 -76%
AVIC Chengdu Aircraft Company 302132 ¥52.91 ¥34.47 -35%
Fortive Corporation FTV $61.78 $33.84 -45%
Trimble Inc TRMB $52.72 $24.47 -54%
Cognex Corporation CGNX $64.07 $13.75 -79%

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Frequently asked questions

Is Materials Analysis Technology Inc (3587) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 191.25 TWD versus a price of 255.50 TWD, about −25% (overvalued).
What is the fair value of 3587?
Our model-based fair value for Materials Analysis Technology Inc is 191.25 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 255.50 TWD.
What is the quality score of 3587?
Materials Analysis Technology Inc has a Quality Score of 57/100. 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 Materials Analysis Technology Inc (3587)?
Materials Analysis Technology Inc reported trailing-twelve-month revenue of about 5.7B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3587?
The net profit margin of Materials Analysis Technology Inc is about 8.8%, meaning it keeps roughly 8.8% of revenue as net income. Based on the latest reported figures.
Does Materials Analysis Technology Inc pay a dividend?
Materials Analysis Technology Inc currently shows a dividend yield of about 1.57% relative to its recent price (as of Jul 23, 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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