Gigasolar Materials (3691) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Gigasolar Materials stock TWD 39.19, price TWD 135, that is 71.0% below the price, quality 35 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 51.10 TWD – 221.88 TWD · fair‑value band 29.25 TWD – 58.50 TWD · the 135.00 TWD price screens above the 39.19 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Giga Solar Materials Corp. engages in the research and development, manufacture, and sale of solar conductive plasma. It provides conductive pastes for photovoltaic cells, such as front and rear Ag, and rear Al pastes. The company was founded in 2003 and is based in Hsinchu City, Taiwan.
Stock analysis
Gigasolar Materials (3691) currently trades at 135.00 TWD, while our model-based Fair Value estimate is 39.19 TWD, 71% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 82/100, which puts the data coverage at low.
Scenario range: 29.25 TWD (bear) to 58.50 TWD (bull), the price of 135.00 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 35/100 (below-average quality), in the Technology sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Gigasolar Materials reported revenue of 5.8B TWD in FY2025 versus 7.6B TWD in FY2021, a compound −6.6%/yr. Reported net income was −700M TWD in FY2025.
Key figures
Market cap 12.4B TWD (≈ $379M) Small · P/E ratio 54.9 · P/S ratio 1.40 · EPS (TTM) 2.46 TWD · Net margin 2.9% · Return on equity 4.3% · Return on assets (EBIT) −4.6% (5-year average) · Operating margin 0.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and 107% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −71%, 3691 screens richer than that median.
Fair Value models
Bear29.25 TWDFair Value 39.19 TWDBull58.50 TWD
Price 135.00 TWD · Downside -71.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (2.10 TWD per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
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.14/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−8.5%
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.
+0.9%
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.
−8.0%
Start year 2020 (pandemic). Over 10 years: −9.5% a year
Revenue growth 10 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.
−9.5%
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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.
2.6% (2020) → −7.7% (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
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 · 97 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score35 · Below median
Fair Value upside−71.0% · Bottom 25%
Profitability
Return on equity (12 months)4.3% · Above median
Return on assets−5.7% · Below median
Net margin (12 months)2.9% · Above median
Operating margin (12 months)0.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)113.5% · Top 25%
Balance sheet
Debt / equity0.54× · Above median
Valuation Multiplesvs Solar median · lower = cheaper
P/E (12 months)54.9× · Priciest 25%
P/B2.15× · Pricier than median
P/S (12 months)1.40× · Cheaper than median
EV/EBITDA29.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 4
FUTURE (revenue growth)100· sector 7
PAST (return on equity)17· sector 0
HEALTH (low debt)73· sector 82
DIVIDEND (yield)0· sector 26
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Gigasolar Materials Fair Value". https://www.fairvalue-calculator.com/stock/3691
Frequently asked questions
Is Gigasolar Materials (3691) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 39.19 TWD versus a price of 135.00 TWD, about 71% lower (overvalued).
What is the fair value of 3691?
Our model-based fair value for Gigasolar Materials is 39.19 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 135.00 TWD.
What is the quality score of 3691?
Gigasolar Materials has a Quality Score of 35/100. 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 Gigasolar Materials (3691)?
Our model-based price target is the fair value of 39.19 TWD (as of Nov 5, 2026) from 1 valuation models. Cautious scenario 29.25 TWD, optimistic scenario 58.50 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Gigasolar Materials stock forecast for 2026?
Our models put fair value at 39.19 TWD, about 71% lower versus a price of 135.00 TWD (overvalued). Cautious scenario 29.25 TWD, optimistic scenario 58.50 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Gigasolar Materials (3691)?
Gigasolar Materials reported trailing-twelve-month revenue of about 8.8B TWD (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of Gigasolar Materials (3691)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gigasolar Materials it is 39.19 TWD per share (as of Nov 5, 2026), against a price of 135.00 TWD. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Gigasolar Materials stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 3691 trades above its calculated fair value: price 135.00 TWD, fair value 39.19 TWD, a gap of about −71% (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 3691?
No. The price is what the market pays today (135.00 TWD); the fair value is what the company's own numbers justify (39.19 TWD). For Gigasolar Materials the two are 95.81 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Gigasolar Materials worth?
The market values Gigasolar Materials at about 12.4B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 135.00 TWD; our models calculate a fair value of 39.19 TWD per share.
What do the bullish and bearish scenarios say about 3691?
Our models span a range for Gigasolar Materials: cautious scenario 29.25 TWD, base 39.19 TWD, optimistic 58.50 TWD per share (as of Nov 5, 2026, price 135.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3691?
Gigasolar Materials trades at a price-to-earnings ratio of 54.9 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 39.19 TWD is built from several models across several years. Other multiples: P/B 2.2, P/S 1.4, EV/EBITDA 29.3.
How solid is the balance sheet of Gigasolar Materials (3691)?
Balance-sheet figures for Gigasolar Materials (as of Nov 5, 2026): return on equity 4.3%, debt of 0.54 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is 3691 from its 52-week high?
Gigasolar Materials trades at 135.00 TWD, about 20% below its 52-week high of 169.50 TWD and 107% above the low of 65.10 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 39.19 TWD is for.
Which stocks are comparable to Gigasolar Materials?
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 Gigasolar Materials stock attractive at the current price?
The data as of Nov 5, 2026: price 135.00 TWD, calculated fair value 39.19 TWD (−71%), Quality Score 35/100, 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 3691 calculated?
We run Gigasolar Materials through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 39.19 TWD builds on their evidence-weighted average, 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. Gigasolar Materials 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 Gigasolar Materials (3691)?
The closing price on Nov 6, 2026 was 135.00 TWD. Our model-based fair value is 39.19 TWD, about 71% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gigasolar Materials right now?
The price sits above even our optimistic bull case (58.50 TWD). The favourable scenario is already priced in. Weak quality (35/100) 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 (29.25 TWD to 58.50 TWD) leaves room in how you read the outcome.
Key figures of Gigasolar Materials
How large is the market capitalisation of Gigasolar Materials (3691)?
The market capitalisation of Gigasolar Materials is 12.4B TWD (≈ $379M). 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 Gigasolar Materials (3691)?
The price-to-sales ratio of Gigasolar Materials is 1.40 (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 Gigasolar Materials (3691)?
Earnings per share at Gigasolar Materials are 2.46 TWD (price ÷ EPS = P/E 54.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Gigasolar Materials (3691)?
The net margin of Gigasolar Materials is 2.9% (last twelve months). 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 Gigasolar Materials (3691)?
The return on equity (ROE) of Gigasolar Materials is 4.3% (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 Gigasolar Materials (3691)?
On an EBIT basis the return on assets of Gigasolar Materials is −4.6% (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 Gigasolar Materials (3691)?
The operating margin of Gigasolar Materials is 0.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gigasolar Materials (3691)?
Revenue at Gigasolar Materials is growing +114% versus a year earlier (3y avg +0.9%). 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 Gigasolar Materials (3691)?
Earnings per share at Gigasolar Materials are growing −1.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Gigasolar Materials (3691) generate?
The free cash flow of Gigasolar Materials is −837M 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 debt does Gigasolar Materials (3691) carry?
The net debt of Gigasolar Materials is 2.9B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 5, 2026