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Newmax Technology Co (3630) Fair Value & Analysis

Technology · TW · Market cap 5.2B TWD

NT Newmax Technology Co 3630 · TWO
Price25.95 TWD
Fair Value26.59 TWD
Upside+2.5%
Quality50/100
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Weak Growth
Solidly profitable · 17.9% net margin
Low debt · negative free cash flow
Ranks above peers (7/11)
Narrow moat 39/100
Evidence: Medium Range 18.24 TWD – 33.24 TWD Share as image

Fair value as of: Jul 23, 2026

From 10 valuation models · updated 18 days ago

Share price −8.8% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (18.24 TWD to 33.24 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

65.60 TWD 16.60 TWD Fair Value 26.59 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 16.60 TWD – 65.60 TWD · fair‑value band 18.24 TWD – 33.24 TWD · the 25.95 TWD price screens below the 26.59 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Newmax Technology Co (3630) currently trades at 25.95 TWD, while our model-based Fair Value estimate is 26.59 TWD, implying the stock looks roughly 2.5% fairly valued today. The Quality Score stands at 50/100 (solid quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, Newmax Technology Co generated revenue of 2.4B TWD at a net margin of 17.9%. Revenue grew 27.3% year over year. It earns a return on equity of 15.5%. Net debt stands at 1.5B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 18.24 TWD (bear case) to 33.24 TWD (bull case); at 25.95 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 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 2%, 3630 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
Residual Income 13.75 TWD 16.20 TWD 31.81 TWD 76
Gordon GGM 4.36 TWD 8.10 TWD 13.04 TWD 70
Growth-Adj P/E 21.46 TWD 30.66 TWD 39.86 TWD 68
All 10 models by family
Earnings-Based
Graham-Dodd 12.51 TWD 31.81 TWD 41.36 TWD 54
PEG = 1.0 5.91 TWD 8.45 TWD 10.98 TWD 46
Dividend Discount
Gordon GGM 4.36 TWD 8.10 TWD 13.04 TWD 70
DDM Multi-Stage 4.36 TWD 6.53 TWD 8.78 TWD 61
Multiples
P/E Multiple 27.60 TWD 36.80 TWD 46.00 TWD 63
P/S Multiple 20.83 TWD 27.77 TWD 34.72 TWD 58
P/B Multiple 23.46 TWD 31.28 TWD 39.10 TWD 55
Asset-Based
NCAV (Graham) 7.49 TWD 10.03 TWD 14.97 TWD 50
Economic Profit
Residual Income 13.75 TWD 16.20 TWD 31.81 TWD 76
Growth Earnings
Growth-Adj P/E 21.46 TWD 30.66 TWD 39.86 TWD 68

Widest divergence: Multiples (31.28 TWD) versus Dividend Discount (6.53 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.4B TWD
Revenue growth (YoY) +27.3%
Net margin 17.9%
Return on equity 15.5%
Free cash flow −895M TWD FY2025
P/E ratio 13.6
More key figures
Operating margin -14.1%
EPS (TTM) 1.86 TWD
Net debt 1.5B TWD FY2024

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

Quality Score breakdown

Overall quality 50/100

Of which business quality 50 · Market factors (momentum, volatility) 40

Profitability 44
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 24
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

Newmax Technology Co., Ltd. engages in the design, manufacture, import, export, and sale of optical lenses in Taiwan, China, South Korea, Thailand, Vietnam, and internationally. The company offers optical instruments, electronic components, and other electrical and electronic mechanical equipment.

Full company description

Newmax Technology Co., Ltd. engages in the design, manufacture, import, export, and sale of optical lenses in Taiwan, China, South Korea, Thailand, Vietnam, and internationally. The company offers optical instruments, electronic components, and other electrical and electronic mechanical equipment. The company was founded in 1999 and is based in Taichung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Newmax Technology Co reported revenue of 2.3B TWD in FY2025 versus 2.4B TWD in FY2021, a compound −1.6%/yr. Reported net income was 376M TWD in FY2025.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.3B TWD
Latest YoY
+19.2%
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.
+12.4%
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.
−3.4%
Avg. growth/yr (16Y) 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.
+5.4%
Revenue −1.6%/yr
FY21 2.4B TWD
FY22 1.6B TWD
FY23 1.5B TWD
FY24 1.9B TWD
FY25 2.3B TWD
Net income
FY21 −632M TWD
FY22 −457M TWD
FY23 −617M TWD
FY24 −465M TWD
FY25 376M TWD

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Cite: Fair Value Calculator (2026). "Newmax Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/3630

Peer Group

Electronic Components · 625 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 50 · Below median
Fair Value upside +3% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets -6% · Bottom 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) -14% · Bottom 25%
Revenue growth 27% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 13.6× · Cheaper than 75% of peers
P/B 1.69× · Cheaper than median
P/S (TTM) 2.14× · 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 37 · sector 0
FUTURE 100 · sector 32
PAST 62 · sector 24
HEALTH 100 · sector 95
DIVIDEND 0 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Newmax Technology Co (3630) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 26.59 TWD versus a price of 25.95 TWD, about +2% (fairly valued).
What is the fair value of 3630?
Our model-based fair value for Newmax Technology Co is 26.59 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 25.95 TWD.
What is the quality score of 3630?
Newmax Technology Co has a Quality Score of 50/100. 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 Newmax Technology Co (3630)?
Newmax Technology Co reported trailing-twelve-month revenue of about 2.4B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3630?
The net profit margin of Newmax Technology Co is about 17.9%, meaning it keeps roughly 17.9% 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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