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Danen Technology Corp (3686) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Danen Technology Corp TWD 5.14, price TWD 14.80, upside -65.3%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

Fair value above price? No
Good quality? No
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Technology · TW · ISIN TW0003686002

DT Thin data Sep 24, 2026

Danen Technology Corp

3686 · TW

Weakest SetupStrongly overvalued and low quality.

!Fair value 5.14 TWD · Strongly overvalued (−65%)

!Quality 44/100

!Weak Growth (revenue 5y −3.9 %/yr)

!Loss-making · -47.3% net margin (TTM)

!Low debt · negative free cash flow

!Mixed vs. peers (5/10)

!Narrow moat 8/100

!Evidence only low, so the estimate is less certain

26 models, one by oneBear 3.40 TWD to bull 6.43 TWD Growth analysisrevenue history, year by year Quality 44/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 9.91 TWD – 34.58 TWD · fair‑value band 3.40 TWD – 6.43 TWD · the 14.80 TWD price screens above the 5.14 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Danen Technology Corporation manufactures and sells solar ingots and wafers for photovoltaic applications in Taiwan. The company offers multi-crystalline solar wafers, ingots, and bricks; and customized services. It also provides renewable energy equipment power generation and energy technology consulting services. The company serves solar cell companies.

Stock analysis

Danen Technology Corp (3686) currently trades at 14.80 TWD, while our model-based Fair Value estimate is 5.14 TWD, implying the stock looks roughly 187.9% overvalued today.

Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: 3.40 TWD (bear) to 6.43 TWD (bull), the price of 14.80 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 44/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Danen Technology Corp reported revenue of 85.8M TWD in FY2025 versus 244M TWD in FY2021, a compound −23.0%/yr. Reported net income was −38.1M TWD in FY2025.

Key figures

Market cap 1.1B TWD (≈ $35.5M) · P/S ratio 13.1 · EPS (TTM) −0.5000 TWD · Net margin −44.4% · Return on equity −6.3% · Return on assets (EBIT) −4.0% · Operating margin −24.6% · Revenue (TTM) 90.7M TWD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 36% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −65%, 3686 screens richer than that median.

Fair Value models

Bear 3.40 TWD Fair Value 5.14 TWD Bull 6.43 TWD

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.

Highest evidence

NCAV (Graham) 4.37 TWD 5.85 TWD 8.74 TWD 54

All 1 models by family

Asset-Based

NCAV (Graham) 4.37 TWD 5.85 TWD 8.74 TWD 54

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Quality Score breakdown

Overall quality 44/100

Of which business quality 43 · Market factors (momentum, volatility) 31

Profitability 0

Margins and returns on capital today

Quality Growth 28

Are margins and returns improving?

Cashflow 2

Earnings quality: real cash, not paper profit

Fin. Strength 81

Balance sheet, leverage, solvency risk

Investment 100

Disciplined investing over empire-building

Low Volatility 55

Calm price path (market factor)

Momentum 22

Price trend over the last 3–12 months (market factor)

52W Momentum 19

Distance to the 52-week high (market factor)

Net Issuance 85

Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 6/100

Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Revenue growth 1 year

+4.0%

Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.

+24.6%

Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.

−3.9%

Start year 2020 (pandemic). Over 10 years: −25.2% a year

Revenue growth 16 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.

−15.5%

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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.

−38.9% (2020) → −32.5% (2025)

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss

not computed

3686 screens 188% overvalued. Compare with First Solar, Inc →

Compare Danen Technology Corp with another stock

Price, fair value, quality and upside side by side.

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Peer Groupⓘ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.Solar · 113 stocks

Beats the industry median on 4/8 measures

A mixed picture versus its industry peers.

Valuation

Quality Score 43 · Above median

Fair Value upside −65% · Bottom 25%

Profitability

Return on assets −3% · Below median

Net margin (TTM) −47% · Bottom 25%

Operating margin (TTM) −25% · Bottom 25%

Growth and dividend

Revenue growth 26% · Above median

Valuation Multiplesvs Solar median · lower = cheaper

P/B 0.05× · Cheapest 25%

P/S (TTM) 0.39× · Cheaper than median

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)0 · sector 23

FUTURE (revenue growth)100 · sector 0

PAST (return on equity)0 · sector 0

HEALTH (low debt)100 · sector 81

DIVIDEND (yield)0 · sector 30

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Solar stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value
First Solar, Inc FSLR	$191.97	$392.12	+104%
Nextpower Inc NXT	$82.52	$90.77	+10%
Tongwei Co 600438	¥11.58	¥12.13	+5%
Waaree Energies Limited WAAREEENER	₹2,512	₹2,709	+8%
Jinko Solar Co 688223	¥3.85	¥6.47	+68%
Enphase Energy, Inc ENPH	$34.42	$24.15	−30%
CSI Solar Co 688472	¥8.53	¥4.82	−43%
Hengdian Group 002056	¥20.33	¥31.86	+57%
Premier Energies Limited PREMIERENE	₹915.00	₹648.94	−29%
Trina Solar Co 688599	¥11.20	¥31.67	+183%

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Danen Technology Corp · Fair Value
5.14 TWD −188%Fair Value
Calculator →

<a href="https://www.fairvalue-calculator.com/stock/3686" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Danen Technology Corp · Fair Value</span><br><b style="font-size:20px">5.14 TWD</b> <span style="color:#e0816f;font-weight:700;font-size:14px">−188%</span></span><span style="font-size:11px;color:var(--fvc-g-mitte);font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Danen Technology Corp Fair Value". https://www.fairvalue-calculator.com/stock/3686

Frequently asked questions

Is Danen Technology Corp (3686) overvalued or undervalued?

As of Sep 24, 2026, our model estimates a fair value of 5.14 TWD versus a price of 14.80 TWD, about −65% upside (overvalued).

What is the fair value of 3686?

Our model-based fair value for Danen Technology Corp is 5.14 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 14.80 TWD.

What is the quality score of 3686?

Danen Technology Corp has a Quality Score of 44/100. 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 price target for Danen Technology Corp (3686)?

Our model-based price target is the fair value of 5.14 TWD (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 3.40 TWD, optimistic scenario 6.43 TWD. It is a calculation from audited fundamentals, not an analyst target.

What is the Danen Technology Corp stock forecast for 2026?

Our models put fair value at 5.14 TWD, about −65% upside versus a price of 14.80 TWD (overvalued). Cautious scenario 3.40 TWD, optimistic scenario 6.43 TWD. The calculation is refreshed regularly with new filings.

What is the revenue of Danen Technology Corp (3686)?

Danen Technology Corp reported trailing-twelve-month revenue of about 90.7M TWD (latest available figure, as of Sep 24, 2026).

What is the intrinsic value of Danen Technology Corp (3686)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Danen Technology Corp it is 5.14 TWD per share (as of Sep 24, 2026), against a price of 14.80 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).

Is Danen Technology Corp stock overvalued or undervalued in 2026?

As of Sep 24, 2026, 3686 trades above its calculated fair value: price 14.80 TWD, fair value 5.14 TWD, a gap of about −65% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.

Is fair value the same as the market price of 3686?

No. The price is what the market pays today (14.80 TWD); the fair value is what the company's own numbers justify (5.14 TWD). For Danen Technology Corp the two are 9.66 TWD per share apart. That gap is exactly why we show both numbers side by side.

How much is Danen Technology Corp worth?

The market values Danen Technology Corp at about 1.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 14.80 TWD; our models calculate a fair value of 5.14 TWD per share.

What do the bullish and bearish scenarios say about 3686?

Our models span a range for Danen Technology Corp: cautious scenario 3.40 TWD, base 5.14 TWD, optimistic 6.43 TWD per share (as of Sep 24, 2026, price 14.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of Danen Technology Corp (3686)?

Balance-sheet figures for Danen Technology Corp (as of Sep 24, 2026): return on equity −6.3%. They feed the Quality Score of 44/100, which measures business quality independently of the share price.

How far is 3686 from its 52-week high?

Danen Technology Corp trades at 14.80 TWD, about 36% below its 52-week high of 23.30 TWD and 6% above the low of 13.95 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 5.14 TWD is for.

Which stocks are comparable to Danen Technology Corp?

From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.

Is Danen Technology Corp stock attractive at the current price?

The data as of Sep 24, 2026: price 14.80 TWD, calculated fair value 5.14 TWD (−65%), Quality Score 44/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.

How is the fair value of 3686 calculated?

We run Danen Technology Corp through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 5.14 TWD, with the spread shown as a cautious and an optimistic scenario.

Is it still worth investing in stocks now?

The global stock market currently sits 13.0 % above its aggregate fair value. Danen Technology Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.

What is the share price of Danen Technology Corp (3686)?

The closing price on Sep 24, 2026 was 14.80 TWD. Our model-based fair value is 5.14 TWD, about −65% upside (overvalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with Danen Technology Corp right now?

The price sits above even our optimistic bull case (6.43 TWD). The favourable scenario is already priced in. Weak quality (44/100) 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 (3.40 TWD to 6.43 TWD) leaves room in how you read the outcome.

Key figures of Danen Technology Corp

How large is the market capitalisation of Danen Technology Corp (3686)?

The market capitalisation of Danen Technology Corp is 1.1B TWD (≈ $35.5M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.

What is the P/S ratio of Danen Technology Corp (3686)?

The price-to-sales ratio of Danen Technology Corp is 13.1 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.

What are the earnings per share of Danen Technology Corp (3686)?

Earnings per share at Danen Technology Corp are −0.5000 TWD. Earnings per share over the last twelve months: total profit spread across every single share.

What is the net margin of Danen Technology Corp (3686)?

The net margin of Danen Technology Corp is −44.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.

What is the return on equity of Danen Technology Corp (3686)?

The return on equity (ROE) of Danen Technology Corp is −6.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.

What is the EBIT return on assets of Danen Technology Corp (3686)?

On an EBIT basis the return on assets of Danen Technology Corp is −4.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.

What is the operating margin of Danen Technology Corp (3686)?

The operating margin of Danen Technology Corp is −24.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at Danen Technology Corp (3686)?

Revenue at Danen Technology Corp is growing +25.7% versus a year earlier (3y avg +24.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.

How fast are earnings growing at Danen Technology Corp (3686)?

Earnings per share at Danen Technology Corp are growing +842% versus a year earlier. How much earnings per share grew versus a year earlier.

How much free cash flow does Danen Technology Corp (3686) generate?

The free cash flow of Danen Technology Corp is −3.5M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net cash does Danen Technology Corp (3686) hold?

Danen Technology Corp holds more cash than debt, 43.7M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.

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