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Ablerex Electronics Co (3628) Fair Value & Analysis

Industrials · TW · Market cap 3.1B TWD

AE Ablerex Electronics Co 3628 · TWO
Price65.30 TWD
Fair Value84.42 TWD
Upside+29.3%
Quality74/100
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Healthy Growth
Thin margins · 5.4% net margin
Low debt · generates free cash flow
4.70% dividend yield
Ranks above peers (13/14)
Narrow moat 42/100
Evidence: High Range 63.32 TWD – 105.53 TWD Share as image

Fair value as of: Jul 23, 2026

From 23 valuation models · updated 18 days ago

Share price −8.2% over the past month.

A solid business, screening 29% undervalued on our models.

What matters now

  • The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • Our model range runs from 63.32 TWD (bear) to 105.53 TWD (bull), base 84.42 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 74/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

99.50 TWD 32.05 TWD Fair Value 84.42 TWD Mar 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 32.05 TWD – 99.50 TWD · fair‑value band 63.32 TWD – 105.53 TWD · the 65.30 TWD price screens below the 84.42 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Ablerex Electronics Co (3628) currently trades at 65.30 TWD, while our model-based Fair Value estimate is 84.42 TWD, implying the stock looks roughly 29.3% undervalued today. The Quality Score stands at 74/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Ablerex Electronics Co generated revenue of 3.5B TWD at a net margin of 5.4%. Revenue grew 15.2% year over year. It earns a return on equity of 11.6%. Net debt stands at 122M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 63.32 TWD (bear case) to 105.53 TWD (bull case); at 65.30 TWD, the current price sits within 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 40% below its 52-week high and 60% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 29%, 3628 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 92.59 TWD 125.93 TWD 170.00 TWD 80
Residual Income 33.07 TWD 37.04 TWD 59.97 TWD 76
Rev-Margin DCF 68.96 TWD 97.23 TWD 128.39 TWD 74
All 23 models by family
DCF Models
FCF DCF 90.70 TWD 127.25 TWD 178.01 TWD 38
Owner Earnings 59.96 TWD 82.98 TWD 114.95 TWD 31
5Y Revenue Exit 68.96 TWD 96.10 TWD 129.20 TWD 39
5Y EBITDA Exit 77.88 TWD 112.16 TWD 150.39 TWD 41
5Y P/E Exit 73.48 TWD 104.24 TWD 134.93 TWD 38
10Y Revenue Exit 75.12 TWD 100.78 TWD 132.20 TWD 36
10Y EBITDA Exit 82.03 TWD 111.46 TWD 147.46 TWD 37
10Y P/E Exit 79.33 TWD 106.19 TWD 136.33 TWD 35
Earnings-Based
Graham-Dodd 27.34 TWD 69.10 TWD 89.79 TWD 54
PEG = 1.0 12.78 TWD 18.25 TWD 23.73 TWD 46
EPV 53.77 TWD 61.05 TWD 67.34 TWD 59
Multiples
P/E Multiple 63.32 TWD 84.42 TWD 105.53 TWD 63
P/S Multiple 51.26 TWD 68.34 TWD 85.43 TWD 58
P/B Multiple 51.26 TWD 68.34 TWD 85.43 TWD 55
EV/EBIT 79.71 TWD 103.73 TWD 127.75 TWD 53
EV/EBITDA 78.97 TWD 102.75 TWD 126.52 TWD 54
EV/Revenue 59.08 TWD 81.12 TWD 103.16 TWD 43
Asset-Based
NCAV (Graham) 18.74 TWD 25.12 TWD 37.49 TWD 50
Growth DCF
Growth DCF 92.59 TWD 125.93 TWD 170.00 TWD 80
Rev-Margin DCF 68.96 TWD 97.23 TWD 128.39 TWD 74
Economic Profit
Residual Income 33.07 TWD 37.04 TWD 59.97 TWD 76
ROIC Compounder 55.74 TWD 66.60 TWD 78.63 TWD 72
Growth Earnings
Growth-Adj P/E 48.96 TWD 69.94 TWD 90.92 TWD 68

Widest divergence: DCF Models (104.24 TWD) versus Asset-Based (25.12 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.5B TWD
Revenue growth (YoY) +15.2%
Net margin 5.4%
Return on equity 11.6%
Free cash flow 363M TWD FY2025
P/E ratio 17.8
More key figures
Operating margin 2.6%
EPS (TTM) 4.00 TWD
Dividend yield 4.7%
EPS growth (YoY) +80.4%
Net debt 122M TWD FY2025

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

Quality Score breakdown

Overall quality 74/100

Of which business quality 72 · Market factors (momentum, volatility) 60

Profitability 48
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 64
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

Ablerex Electronics Co., Ltd. designs, manufactures, and sells power electronic products in Taiwan and internationally. The company offers energy storage systems, photovoltaic devices, UPS products and accessories, active power filters, automatic transfer switches, and monitoring and management systems.

Full company description

Ablerex Electronics Co., Ltd. designs, manufactures, and sells power electronic products in Taiwan and internationally. The company offers energy storage systems, photovoltaic devices, UPS products and accessories, active power filters, automatic transfer switches, and monitoring and management systems. It also engages in manufacturing and sales of system equipment for improving power quality and solar energy system equipment; and maintenance and technical service business. Ablerex Electronics Co., Ltd. was founded in 1987 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

Ablerex Electronics Co reported revenue of 3.4B TWD in FY2025 versus 3.0B TWD in FY2021, a compound +3.0%/yr. Reported net income was 181M TWD in FY2025, compounding +25.8%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.4B TWD
Latest YoY
+11.0%
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.
+3.1%
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.
+7.3%
Avg. growth/yr (8Y) 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.
+4.3%
Revenue +3.0%/yr
FY21 3.0B TWD
FY22 3.1B TWD
FY23 2.9B TWD
FY24 3.0B TWD
FY25 3.4B TWD
Net income +25.8%/yr
FY21 72.2M TWD
FY22 115M TWD
FY23 87.7M TWD
FY24 96.6M TWD
FY25 181M TWD

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Cite: Fair Value Calculator (2026). "Ablerex Electronics Co Fair Value". https://www.fairvalue-calculator.com/stock/3628

Peer Group

Electrical Equipment & Parts · 526 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 74 · Top 25%
Fair Value upside +29% · Top 25%
Return on equity (TTM) 12% · Above median
Return on assets 5% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 3% · Below median
Revenue growth 15% · Above median
Dividend yield (TTM) 4.7% · Top 25%

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 17.5× · Cheaper than 75% of peers
P/B 1.86× · Cheaper than median
P/S (TTM) 0.91× · Cheaper than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 8.6× · 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 72 · sector 0
FUTURE 76 · sector 57
PAST 46 · sector 26
HEALTH 100 · sector 97
DIVIDEND 94 · sector 18

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is Ablerex Electronics Co (3628) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 84.42 TWD versus a price of 65.30 TWD, about +29% (undervalued).
What is the fair value of 3628?
Our model-based fair value for Ablerex Electronics Co is 84.42 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 65.30 TWD.
What is the quality score of 3628?
Ablerex Electronics Co has a Quality Score of 74/100. 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 Ablerex Electronics Co (3628)?
Ablerex Electronics Co reported trailing-twelve-month revenue of about 3.5B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3628?
The net profit margin of Ablerex Electronics Co is about 5.4%, meaning it keeps roughly 5.4% of revenue as net income. Based on the latest reported figures.
Does Ablerex Electronics Co pay a dividend?
Ablerex Electronics Co currently shows a dividend yield of about 4.65% 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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