AzureWave Technologies Inc (3694) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of AzureWave Technologies Inc TWD 84.26, price TWD 50.30, upside +67.5%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch AzureWave Technologies Inc for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
AzureWave Technologies, Inc. engages in the manufacture and sale of wireless connectivity and image processing solutions worldwide. The company offers wireless modules, including M.2 socket type, M.2 solder-own, solder-down stamp, wireless IOT module, and system-in-package products.
Show more
AzureWave Technologies, Inc. engages in the manufacture and sale of wireless connectivity and image processing solutions worldwide. The company offers wireless modules, including M.2 socket type, M.2 solder-own, solder-down stamp, wireless IOT module, and system-in-package products. It also provides infineon, NXP, nvidia certified module, dialog, morse micro, newracom, and atmosic solutions. In addition, the company offers camera modules, such as USB interface, MIPI interface, ultra slim and narrow NB, ultra slim and narrow MIPI, and biological identification/depth detection camera modules. Its products are used in various applications, such as personal and industrial computers, mobile and internet devices, consumer electronics, home appliances, automotive components, manufacturing facilities, and others. AzureWave Technologies, Inc. was founded in 2005 and is headquartered in New Taipei City, Taiwan.
Stock analysis
AzureWave Technologies Inc (3694) currently trades at 50.30 TWD, while our model-based Fair Value estimate is 84.26 TWD, implying the stock looks roughly 40.3% undervalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of 92.45 TWD per share, and 18 of the 26 models we run sit above the 50.30 TWD price.
Bear case: the Asset-Based group reads lowest at 15.86 TWD, and 8 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 58.75 TWD (bear) to 117.25 TWD (bull), the price of 50.30 TWD sits below 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 69/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
AzureWave Technologies Inc reported revenue of 11.4B TWD in FY2025 versus 11.4B TWD in FY2021, a compound −0.1%/yr. Reported net income was 615M TWD in FY2025, compounding +18.8%/yr from FY2021.
Key figures
Market cap 9.9B TWD (≈ $311M) · P/E ratio 12.6 · P/S ratio 0.68 · EPS (TTM) 3.99 TWD · Dividend yield 4.6% · Net margin 5.4% · Return on equity 17.5% · Return on assets (EBIT) 5.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −46% fair-value upside, at 68%, 3694 screens cheaper than that median.
Fair Value models
Bear 58.75 TWDFair Value 84.26 TWDBull 117.25 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.24 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.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.
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.65/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+23.4%
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.
+4.3%
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.
+3.5%
Start year 2020 (pandemic). Over 10 years: +5.6% 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.
+5.8%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+17.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.1%
Dividend (yield on the price)4.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.15% vs 25%, slowing
Profit margin 2020 to 2025 ⓘ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.4% → 5%
2025 sits 85% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+0.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −0.7% a year for the price.
Compare AzureWave Technologies Inc with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Communication Equipment · 311 stocks
Beats the industry median on 13/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+68% · Top 25%
Profitability
Return on equity (TTM)18% · Top 25%
Return on assets5% · Top 25%
Net margin (TTM)5% · Above median
Operating margin (TTM)5% · Above median
Growth and dividend
Revenue growth27% · Top 25%
Dividend yield (TTM)4.6% · Top 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Communication Equipment median · lower = cheaper
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.
Is AzureWave Technologies Inc (3694) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 84.26 TWD versus a price of 50.30 TWD, about +68% upside (undervalued).
What is the fair value of 3694?
Our model-based fair value for AzureWave Technologies Inc is 84.26 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 50.30 TWD.
What is the quality score of 3694?
AzureWave Technologies Inc has a Quality Score of 69/100. 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 AzureWave Technologies Inc (3694)?
Our model-based price target is the fair value of 84.26 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 58.75 TWD, optimistic scenario 117.25 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the AzureWave Technologies Inc stock forecast for 2026?
Our models put fair value at 84.26 TWD, about +68% upside versus a price of 50.30 TWD (undervalued). Cautious scenario 58.75 TWD, optimistic scenario 117.25 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of AzureWave Technologies Inc (3694)?
AzureWave Technologies Inc reported trailing-twelve-month revenue of about 12.0B TWD (latest available figure, as of Sep 24, 2026).
Does AzureWave Technologies Inc pay a dividend?
AzureWave Technologies Inc currently shows a dividend yield of about 4.57% relative to its recent price (as of Sep 24, 2026).
What growth is priced into AzureWave Technologies Inc (3694)?
For today's price to be fair in a discounted-cash-flow model, AzureWave Technologies Inc would have to grow free cash flow by +0.9 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 3694 use?
Our models discount AzureWave Technologies Inc at 11.1 %: a base by market capitalisation (small), damped by beta 0.78, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For AzureWave Technologies Inc that is +0.9 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has AzureWave Technologies Inc (3694) delivered so far?
Over the past 5 years revenue at AzureWave Technologies Inc grew +3.5 % a year. The price currently implies +0.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of AzureWave Technologies Inc (3694) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into AzureWave Technologies Inc (+0.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of AzureWave Technologies Inc (3694)?
The free-cash-flow yield on the price is 6.89 %: that much free cash flow AzureWave Technologies Inc produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of AzureWave Technologies Inc (3694)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For AzureWave Technologies Inc it is 84.26 TWD per share (as of Sep 24, 2026), against a price of 50.30 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is AzureWave Technologies Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3694 trades below its calculated fair value: price 50.30 TWD, fair value 84.26 TWD, a gap of about +68% (undervalued). 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 3694?
No. The price is what the market pays today (50.30 TWD); the fair value is what the company's own numbers justify (84.26 TWD). For AzureWave Technologies Inc the two are 33.96 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is AzureWave Technologies Inc worth?
The market values AzureWave Technologies Inc at about 9.9B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 50.30 TWD; our models calculate a fair value of 84.26 TWD per share.
What do the bullish and bearish scenarios say about 3694?
Our models span a range for AzureWave Technologies Inc: cautious scenario 58.75 TWD, base 84.26 TWD, optimistic 117.25 TWD per share (as of Sep 24, 2026, price 50.30 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3694?
AzureWave Technologies Inc trades at a price-to-earnings ratio of 12.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 84.26 TWD is built from several models across several years. Other multiples: P/B 2.7, P/S 0.8, EV/EBITDA 8.7.
How solid is the balance sheet of AzureWave Technologies Inc (3694)?
Balance-sheet figures for AzureWave Technologies Inc (as of Sep 24, 2026): return on equity 17.5%, debt of 0.04 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is 3694 from its 52-week high?
AzureWave Technologies Inc trades at 50.30 TWD, about 38% below its 52-week high of 80.70 TWD and 4% above the low of 48.50 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 84.26 TWD is for.
Which stocks are comparable to AzureWave Technologies Inc?
From the same area (Technology) we also value Cisco Systems, Inc, Zhongji Innolight Co, Foxconn Industrial Internet Co, Eoptolink Technology Inc, 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 AzureWave Technologies Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 50.30 TWD, calculated fair value 84.26 TWD (+68%), Quality Score 69/100, from 26 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 3694 calculated?
We run AzureWave Technologies Inc through 26 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 84.26 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 14.1 % above its aggregate fair value. AzureWave Technologies Inc currently trades 68 % below its own fair value, and the market average says nothing about that. 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 AzureWave Technologies Inc (3694)?
The closing price on Sep 24, 2026 was 50.30 TWD. Our model-based fair value is 84.26 TWD, about +68% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with AzureWave Technologies Inc right now?
The price is below even our cautious bear case (58.75 TWD). The market is more pessimistic than our downside scenario. Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (58.75 TWD to 117.25 TWD) leaves room in how you read the outcome.
Where does the earnings growth of AzureWave Technologies Inc (3694) come from?
Earnings per share at AzureWave Technologies Inc grew +24.9 % a year from 2015 to 2025. Broken into its drivers: revenue per share +3.5 %, EBIT margin +12.0 %, tax rate +0.2 %, residual (interest, one-offs) +7.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of AzureWave Technologies Inc
How large is the market capitalisation of AzureWave Technologies Inc (3694)?
The market capitalisation of AzureWave Technologies Inc is 9.9B TWD (≈ $311M). 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 AzureWave Technologies Inc (3694)?
The price-to-sales ratio of AzureWave Technologies Inc is 0.68 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of AzureWave Technologies Inc (3694)?
Earnings per share at AzureWave Technologies Inc are 3.99 TWD (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of AzureWave Technologies Inc (3694)?
The dividend yield of AzureWave Technologies Inc is 4.6% (payout 57.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of AzureWave Technologies Inc (3694)?
The net margin of AzureWave Technologies Inc is 5.4% (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 AzureWave Technologies Inc (3694)?
The return on equity (ROE) of AzureWave Technologies Inc is 17.5% (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 AzureWave Technologies Inc (3694)?
On an EBIT basis the return on assets of AzureWave Technologies Inc is 5.8% (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 AzureWave Technologies Inc (3694)?
The operating margin of AzureWave Technologies Inc is 4.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at AzureWave Technologies Inc (3694)?
Revenue at AzureWave Technologies Inc is growing +26.6% versus a year earlier (3y avg +4.3%). 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 AzureWave Technologies Inc (3694)?
Earnings per share at AzureWave Technologies Inc are growing +31.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does AzureWave Technologies Inc (3694) hold?
AzureWave Technologies Inc holds more cash than debt, 2.1B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch AzureWave Technologies Inc in the live analysis
One click puts AzureWave Technologies Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
