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Leadtrend Technology Corporation (3588) Fair Value & Analysis

Technology · TW · Market cap 3.5B TWD

LT Leadtrend Technology Corporation 3588 · TW
Price57.90 TWD
Fair Value19.50 TWD
Upside-66.3%
Quality59/100
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Weak Growth
Thin margins · 2.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Narrow moat 27/100
Evidence: High Range 16.37 TWD – 22.89 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 11.97 TWD to 19.50 TWD (+62.9%) since Jul 9, 2026. Share price −13.3% over the past month.

A solid business, but screening 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (22.89 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

161.36 TWD 39.85 TWD Fair Value 19.50 TWD Mar 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 39.85 TWD – 161.36 TWD · fair‑value band 16.37 TWD – 22.89 TWD · the 57.90 TWD price screens above the 19.50 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

Leadtrend Technology Corporation (3588) currently trades at 57.90 TWD, while our model-based Fair Value estimate is 19.50 TWD, implying the stock looks roughly 66.3% overvalued today. The Quality Score stands at 59/100 (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, Leadtrend Technology Corporation generated revenue of 1.4B TWD at a net margin of 2.7%. Revenue grew 15.2% year over year. It earns a return on equity of 2.1%. The balance sheet holds a net cash position of 501M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 16.37 TWD (bear case) to 22.89 TWD (bull case); at 57.90 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 19% below its 52-week high and 37% 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 -66%, 3588 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 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 31.70 TWD 38.80 TWD 51.51 TWD 80
Residual Income 19.61 TWD 18.73 TWD 14.33 TWD 76
Rev-Margin DCF 18.57 TWD 20.54 TWD 23.42 TWD 74
All 24 models by family
DCF Models
FCF DCF 30.87 TWD 38.17 TWD 52.47 TWD 38
Owner Earnings 19.99 TWD 23.76 TWD 31.12 TWD 31
5Y Revenue Exit 18.57 TWD 20.01 TWD 22.23 TWD 39
5Y EBITDA Exit 25.19 TWD 31.24 TWD 39.61 TWD 41
5Y P/E Exit 21.10 TWD 24.30 TWD 28.40 TWD 38
10Y Revenue Exit 23.25 TWD 25.16 TWD 26.98 TWD 36
10Y EBITDA Exit 27.28 TWD 32.36 TWD 37.87 TWD 37
10Y P/E Exit 24.83 TWD 27.91 TWD 30.85 TWD 35
Earnings-Based
Graham-Dodd 3.36 TWD 5.37 TWD 6.46 TWD 54
EPV 10.59 TWD 10.93 TWD 11.23 TWD 59
Dividend Discount
Gordon GGM 10.12 TWD 12.05 TWD 14.12 TWD 70
DDM Multi-Stage 10.12 TWD 13.22 TWD 16.98 TWD 61
Multiples
P/E Multiple 7.40 TWD 9.87 TWD 12.34 TWD 63
P/S Multiple 6.29 TWD 8.39 TWD 10.49 TWD 58
P/B Multiple 6.29 TWD 8.39 TWD 10.49 TWD 55
EV/EBIT 12.00 TWD 13.19 TWD 14.38 TWD 53
EV/EBITDA 23.63 TWD 28.69 TWD 33.76 TWD 54
EV/Revenue 10.83 TWD 11.87 TWD 12.90 TWD 43
Asset-Based
NCAV (Graham) 14.15 TWD 18.96 TWD 28.30 TWD 50
Growth DCF
Growth DCF 31.70 TWD 38.80 TWD 51.51 TWD 80
Rev-Margin DCF 18.57 TWD 20.54 TWD 23.42 TWD 74
Economic Profit
Residual Income 19.61 TWD 18.73 TWD 14.33 TWD 76
ROIC Compounder 10.59 TWD 10.93 TWD 11.23 TWD 72
Growth Earnings
Growth-Adj P/E 5.24 TWD 7.48 TWD 9.73 TWD 68

Widest divergence: DCF Models (25.16 TWD) versus Earnings-Based (5.37 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.4B TWD
Revenue growth (YoY) +15.2%
Net margin 2.7%
Return on equity 2.1%
Free cash flow 146M TWD FY2025
P/E ratio 111.6
More key figures
Operating margin 4.9%
EPS (TTM) 0.5000 TWD
EPS growth (YoY) +42.3%
Net cash 501M TWD FY2025

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 62 · Market factors (momentum, volatility) 53

Profitability 31
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)
Net Issuance 66
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

Leadtrend Technology Corporation engages in research, development, production, manufacturing, and sales of analog integrated circuits in Taiwan, Mainland China, Korea, and Other countries.

Full company description

Leadtrend Technology Corporation engages in research, development, production, manufacturing, and sales of analog integrated circuits in Taiwan, Mainland China, Korea, and Other countries. It offers hi-power controllers, including interleaved transition mode PFC, PFC with LLC, transition mode PFC, PFC with QR, and AHB controllers; mid-power controllers comprising primary side regulator controllers, isolated green mode, isolated high voltage green mode, PSR MOS combo, SSR MOS combo, and isolated HV MOS/GaN combo; SR controller such as, synchronous rectification driver, and SR MOS combo; and USB power delivery controller. The company also provides LED application products, including 3 in 1 flexible dimming processors, active-PFC primary side regulator controllers, active-PFC secondary side regulator controllers, and secondary side CC/CV controllers. Its products are used in TV/monitor, adapter, networking, and LED lighting applications. Leadtrend Technology Corporation was incorporated in 2002 and is headquartered in Zhubei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Leadtrend Technology Corporation reported revenue of 1.3B TWD in FY2025 versus 2.1B TWD in FY2021, a compound −10.8%/yr. Reported net income was 30.6M TWD in FY2025, compounding −44.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.3B TWD
Latest YoY
−7.2%
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.
−6.2%
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.
−1.4%
Avg. growth/yr (17Y) 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.
+2.8%
Revenue −10.8%/yr
FY21 2.1B TWD
FY22 1.6B TWD
FY23 1.1B TWD
FY24 1.5B TWD
FY25 1.3B TWD
Net income −44.8%/yr
FY21 329M TWD
FY22 152M TWD
FY23 28.9M TWD
FY24 112M TWD
FY25 30.6M TWD
Character of growth · EPS growth decomposed (2014-2025) −4.3 % p.a.
Revenue per share +1.8 pp

of which total revenue +2.5 pp · buybacks/dilution −0.7 pp

EBIT margin −10.2 pp
Tax rate +2.6 pp
Residual (interest, one-offs) +1.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

3588 screens 66% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "Leadtrend Technology Corporation Fair Value". https://www.fairvalue-calculator.com/stock/3588

Peer Group

Semiconductors · 318 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 59 · Above median
Fair Value upside −66% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 15% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 111.6× · Pricier than 75% of peers
P/B 1.97× · Cheaper than median
P/S (TTM) 2.47× · Cheaper than median
P/FCF 0.7× · Cheaper than median
EV/EBITDA 33.2× · Pricier than median

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 76 · sector 60
PAST 8 · sector 25
HEALTH 100 · sector 97
DIVIDEND 0 · sector 22

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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc 1MU €784.90 €185.67 -76%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is Leadtrend Technology Corporation (3588) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 19.50 TWD versus a price of 57.90 TWD, about −66% (overvalued).
What is the fair value of 3588?
Our model-based fair value for Leadtrend Technology Corporation is 19.50 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 57.90 TWD.
What is the quality score of 3588?
Leadtrend Technology Corporation has a Quality Score of 59/100. 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 Leadtrend Technology Corporation (3588)?
Leadtrend Technology Corporation reported trailing-twelve-month revenue of about 1.4B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3588?
The net profit margin of Leadtrend Technology Corporation is about 2.7%, meaning it keeps roughly 2.7% of revenue as net income. Based on the latest reported figures.

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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