Unizyx Holding Corp (3704) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Unizyx Holding Corp stock TWD 29.28, price TWD 33.75, that is 13.2% below the price, quality 57 out of 100. Rating: overvalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 21.08 TWD – 65.70 TWD · fair‑value band 19.85 TWD – 41.02 TWD · the 33.75 TWD price screens above the 29.28 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Zyxel Group Corporation, together with its subsidiaries, offers networking solutions for telco, SME, and digital home in the United States, France, and internationally. It operates through four segments: Brand Business, Channel Business, Product Business, and Investment.
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The Brand Business segment provides end-to-end broadband access solutions to telecommunication service providers, and local services to customers.
The Channel Business segment is involved in the development of channel business and provides enterprise and home users with products and application services.
The Product Business segment develops products for customers and logistic services that manufacture wired and wireless broadband communication networks, internet, multimedia, and digital home applications, including intellectual life. The Investment segment engages in general investment business.
It also develops, manufactures, and sells communication and networking products; and provides consultant management, network technology transfer, and technical consulting services, as well as information security products. The company offers its products under the Zyxel and MitraStar DMS brands.
The company was formerly known as Unizyx Holding Corporation and changed its name to Zyxel Group Corporation in June 2023. Zyxel Group Corporation was founded in 1989 and is based in Hsinchu City, Taiwan.
Stock analysis
Unizyx Holding Corp (3704) currently trades at 33.75 TWD, while our model-based Fair Value estimate is 29.28 TWD, 13% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 46.95 TWD per share, and 8 of the 25 models we run sit above the 33.75 TWD price.
Bear case: the Dividend Discount group reads lowest at 3.75 TWD, and 17 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 19.85 TWD (bear) to 41.02 TWD (bull), the price of 33.75 TWD sits inside 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 57/100 (solid quality), in the Technology sector.
Mixed Growth: Spin-off in 2008: revenue and profit before it include the divested business. Growth is measured afresh from 2008.
Unizyx Holding Corp reported revenue of 25.3B TWD in FY2025 versus 25.7B TWD in FY2021, a compound −0.4%/yr. Reported net income was 634M TWD in FY2025, compounding −12.8%/yr from FY2021.
Key figures
Market cap 13.7B TWD (≈ $419M) Small · P/E ratio 10.3 · P/S ratio 0.48 · EPS (TTM) 3.27 TWD · Dividend yield 1.2% · Net margin 4.5% · Return on equity 10.8% · Return on assets (EBIT) 5.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −45% fair-value upside, at −13%, 3704 screens cheaper than that median.
Fair Value models
Bear19.85 TWDFair Value 29.28 TWDBull41.02 TWD
Price 33.75 TWD · Downside -13.2%
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 (2.45 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.55/100
Spin-off in 2008: revenue and profit before it include the divested business. Growth is measured afresh from 2008.
Revenue growth 1 year
−2.6%
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.
−6.1%
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.
+2.6%
Start year 2020 (pandemic). Over 10 years: +1.7% a year
Revenue growth 17 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.
+3.1%
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What shareholders gained per year (last 5 years), in TWD ⓘ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. Basis: EBIT basis. 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.
−5.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.9%
Dividend (yield on the price)1.2%
Per share before 2008divided by the spin-off factor 1.015
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.base effect: −5.9% / 10.7%
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.5% → 3%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than 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).
+59.3%
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 +56.8% a year for the price.
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.Communication Equipment · 302 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−13.2% · Above median
Profitability
Return on equity (12 months)10.8% · Above median
Return on assets2.9% · Above median
Net margin (12 months)4.5% · Above median
Operating margin (12 months)7.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)20.8% · Above median
Dividend yield (12 months)1.2% · 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 Unizyx Holding Corp (3704) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 29.28 TWD versus a price of 33.75 TWD, about 13% lower (overvalued).
What is the fair value of 3704?
Our model-based fair value for Unizyx Holding Corp is 29.28 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 33.75 TWD.
What is the quality score of 3704?
Unizyx Holding Corp has a Quality Score of 57/100. 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 Unizyx Holding Corp (3704)?
Our model-based price target is the fair value of 29.28 TWD (as of Nov 7, 2026) from 25 valuation models. Cautious scenario 19.85 TWD, optimistic scenario 41.02 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Unizyx Holding Corp stock forecast for 2026?
Our models put fair value at 29.28 TWD, about 13% lower versus a price of 33.75 TWD (overvalued). Cautious scenario 19.85 TWD, optimistic scenario 41.02 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Unizyx Holding Corp (3704)?
Unizyx Holding Corp reported trailing-twelve-month revenue of about 28.5B TWD (latest available figure, as of Nov 7, 2026).
Does Unizyx Holding Corp pay a dividend?
Unizyx Holding Corp currently shows a dividend yield of 1.19% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Unizyx Holding Corp (3704) and when is the ex-dividend date?
Unizyx Holding Corp pays a dividend of 0.4 TWD per share a year, a dividend yield of 1.2%. The last ex-dividend date was Jul 6, 2026. The payout ratio is 12.2% of earnings. Free cash flow covers the dividend 0.44 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Unizyx Holding Corp (3704)?
For today's price to be fair in a discounted-cash-flow model, Unizyx Holding Corp would have to grow free cash flow by +59.3 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.6 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 3704 use?
Our models discount Unizyx Holding Corp at 11.2 %: a base by market capitalisation (small), damped by beta 0.79, 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 Unizyx Holding Corp that is +59.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Unizyx Holding Corp (3704) delivered so far?
Over the past 5 years revenue at Unizyx Holding Corp grew +2.6 % a year. The price currently implies free-cash-flow growth of +59.3 % per 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 Unizyx Holding Corp (3704) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Unizyx Holding Corp (+59.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Unizyx Holding Corp (3704)?
The free-cash-flow yield on the price is 0.52 %: that much free cash flow Unizyx Holding Corp produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Unizyx Holding Corp (3704)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Unizyx Holding Corp it is 29.28 TWD per share (as of Nov 7, 2026), against a price of 33.75 TWD. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Unizyx Holding Corp stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 3704 trades above its calculated fair value: price 33.75 TWD, fair value 29.28 TWD, a gap of about −13% (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 3704?
No. The price is what the market pays today (33.75 TWD); the fair value is what the company's own numbers justify (29.28 TWD). For Unizyx Holding Corp the two are 4.47 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Unizyx Holding Corp worth?
The market values Unizyx Holding Corp at about 13.7B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 33.75 TWD; our models calculate a fair value of 29.28 TWD per share.
What do the bullish and bearish scenarios say about 3704?
Our models span a range for Unizyx Holding Corp: cautious scenario 19.85 TWD, base 29.28 TWD, optimistic 41.02 TWD per share (as of Nov 7, 2026, price 33.75 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3704?
Unizyx Holding Corp trades at a price-to-earnings ratio of 10.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 29.28 TWD is built from several models across several years. Other multiples: P/B 1.2, P/S 0.5, EV/EBITDA 5.8.
How solid is the balance sheet of Unizyx Holding Corp (3704)?
Balance-sheet figures for Unizyx Holding Corp (as of Nov 7, 2026): return on equity 10.8%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 3704 from its 52-week high?
Unizyx Holding Corp trades at 33.75 TWD, about 33% below its 52-week high of 50.40 TWD and 9% above the low of 30.95 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 29.28 TWD is for.
Which stocks are comparable to Unizyx Holding Corp?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Motorola Solutions, 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 Unizyx Holding Corp stock attractive at the current price?
The data as of Nov 7, 2026: price 33.75 TWD, calculated fair value 29.28 TWD (−13%), Quality Score 57/100, from 25 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 3704 calculated?
We run Unizyx Holding Corp through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 29.28 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. Unizyx Holding 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 Unizyx Holding Corp (3704)?
The closing price on Nov 6, 2026 was 33.75 TWD. Our model-based fair value is 29.28 TWD, about 13% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Unizyx Holding Corp right now?
Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (19.85 TWD to 41.02 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Unizyx Holding Corp (3704) come from?
Earnings per share at Unizyx Holding Corp grew +15.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.6 %, EBIT margin +3.2 %, tax rate +4.5 %, residual (interest, one-offs) +4.7 %. 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 Unizyx Holding Corp
How large is the market capitalisation of Unizyx Holding Corp (3704)?
The market capitalisation of Unizyx Holding Corp is 13.7B TWD (≈ $419M). 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 Unizyx Holding Corp (3704)?
The price-to-sales ratio of Unizyx Holding Corp is 0.48 (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 Unizyx Holding Corp (3704)?
Earnings per share at Unizyx Holding Corp are 3.27 TWD (price ÷ EPS = P/E 10.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Unizyx Holding Corp (3704)?
The dividend yield of Unizyx Holding Corp is 1.2% (payout 12.2%). 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 Unizyx Holding Corp (3704)?
The net margin of Unizyx Holding Corp is 4.5% (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 Unizyx Holding Corp (3704)?
The return on equity (ROE) of Unizyx Holding Corp is 10.8% (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 Unizyx Holding Corp (3704)?
On an EBIT basis the return on assets of Unizyx Holding Corp is 5.5% (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 Unizyx Holding Corp (3704)?
The operating margin of Unizyx Holding Corp is 7.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Unizyx Holding Corp (3704)?
Revenue at Unizyx Holding Corp is growing +20.8% versus a year earlier (3y avg −6.1%). 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 Unizyx Holding Corp (3704)?
Earnings per share at Unizyx Holding Corp are growing −16.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Unizyx Holding Corp (3704) carry?
The net debt of Unizyx Holding Corp is 568M TWD (fiscal year 2025, ≈ 7.9 yrs of FCF). 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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Broad data
Nov 7, 2026