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MiTAC Holdings (3706) Fair Value & Analysis

Technology · TW · Market cap 120B TWD

MH MiTAC Holdings 3706 · TW
Price91.70 TWD
Fair Value73.42 TWD
Upside-19.9%
Quality51/100
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Mixed Growth
Thin margins · 6.1% net margin
Low debt · negative free cash flow
3.38% dividend yield
Mixed vs. peers (8/14)
Narrow moat 40/100
Evidence: High Range 46.90 TWD – 109.48 TWD Share as image

Fair value as of: Jul 15, 2026

From 17 valuation models · updated 26 days ago

Share price +4.0% over the past month.

A solid business, but screening 20% overvalued on our models.

What matters now

  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (46.90 TWD to 109.48 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

107.00 TWD 19.92 TWD Fair Value 73.42 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 19.92 TWD – 107.00 TWD · fair‑value band 46.90 TWD – 109.48 TWD · the 91.70 TWD price screens above the 73.42 TWD fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

MiTAC Holdings (3706) currently trades at 91.70 TWD, while our model-based Fair Value estimate is 73.42 TWD, implying the stock looks roughly 19.9% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, MiTAC Holdings generated revenue of 114B TWD at a net margin of 6.1%. Revenue grew 34.6% year over year. It earns a return on equity of 11.2%. The balance sheet holds a net cash position of 6.3B TWD. Fundamentals as of Jul 15, 2026

Our scenario range runs from 46.90 TWD (bear case) to 109.48 TWD (bull case); at 91.70 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 16% below its 52-week high and 71% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -20%, 3706 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 BearBaseBull Evidence
Highest evidence
Residual Income 45.23 TWD 50.38 TWD 83.79 TWD 76
ROIC Compounder 41.48 TWD 46.81 TWD 51.47 TWD 72
Gordon GGM 8.49 TWD 17.65 TWD 28.01 TWD 70
All 17 models by family
DCF Models
Owner Earnings 72.42 TWD 131.32 TWD 239.75 TWD 31
Earnings-Based
Graham-Dodd 35.03 TWD 186.39 TWD 258.14 TWD 54
Lynch FV 51.39 TWD 73.42 TWD 95.44 TWD 50
PEG = 1.0 51.39 TWD 73.42 TWD 95.44 TWD 46
EPV 41.48 TWD 46.81 TWD 51.47 TWD 59
Dividend Discount
Gordon GGM 8.49 TWD 17.65 TWD 28.01 TWD 70
DDM Multi-Stage 8.49 TWD 14.89 TWD 18.53 TWD 61
Multiples
P/E Multiple 77.28 TWD 103.04 TWD 128.80 TWD 63
P/S Multiple 65.69 TWD 87.58 TWD 109.48 TWD 58
P/B Multiple 65.69 TWD 87.58 TWD 109.48 TWD 55
EV/EBIT 64.16 TWD 82.38 TWD 100.60 TWD 53
EV/EBITDA 58.65 TWD 75.03 TWD 91.41 TWD 54
EV/Revenue 46.35 TWD 62.14 TWD 77.93 TWD 43
Asset-Based
NCAV (Graham) 25.79 TWD 34.56 TWD 51.58 TWD 50
Economic Profit
Residual Income 45.23 TWD 50.38 TWD 83.79 TWD 76
ROIC Compounder 41.48 TWD 46.81 TWD 51.47 TWD 72
Growth Earnings
Growth-Adj P/E 74.08 TWD 105.82 TWD 137.57 TWD 68

Widest divergence: DCF Models (131.32 TWD) versus Dividend Discount (14.89 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 114B TWD
Revenue growth (YoY) +34.6%
Net margin 6.1%
Return on equity 11.2%
Free cash flow −1.6B TWD FY2025
P/E ratio 18.0
More key figures
Operating margin 3.7%
EPS (TTM) 5.13 TWD
Dividend yield 3.2%
EPS growth (YoY) +9.2%
Net cash 6.3B TWD FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 50 · Market factors (momentum, volatility) 66

Profitability 39
Margins and returns on capital today
Quality Growth 71
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 54
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

MiTAC Holdings Corporation, together with its subsidiaries, designs, develops, manufactures, and distributes computers and ancillary equipment, and communication related products in Taiwan, Europe, the United States, and internationally.

Full company description

MiTAC Holdings Corporation, together with its subsidiaries, designs, develops, manufactures, and distributes computers and ancillary equipment, and communication related products in Taiwan, Europe, the United States, and internationally. The company offers cloud computing and artificial intelligence products, such as AI Server, HPC server, storage server, cloud computing solution, and open compute project. It also provides dashcam recorder, navigation devices, smart camera, and navigation solutions; smart city solutions and connected car cloud video cameras; industrial tablet, industrial handy terminal, fleet management, and MiTAC device management services; and factory automation, intelligent transportation system, retail automation, industrial motherboard, embedded system, industrial panel PC, and ruggidized tablet. In addition, the company offers building, factory, equipment, and energy monitoring management solutions through its Comismart platform. MiTAC Holdings Corporation was founded in 1982 and is headquartered in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MiTAC Holdings reported revenue of 106B TWD in FY2025 versus 42.2B TWD in FY2021, a compound +25.8%/yr. Reported net income was 6.8B TWD in FY2025, compounding −13.0%/yr from FY2021.

Growth Quality 50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
106B TWD
Latest YoY
+72.1%
Avg. growth/yr (3Y)
+30.2%
Avg. growth/yr (5Y)
+20.7%
Avg. growth/yr (19Y)
+1.3%
Revenue +25.8%/yr
FY21 42.2B TWD
FY22 47.8B TWD
FY23 35.5B TWD
FY24 61.4B TWD
FY25 106B TWD
Net income −13.0%/yr
FY21 12.0B TWD
FY22 9.3B TWD
FY23 1.8B TWD
FY24 4.0B TWD
FY25 6.8B TWD

3706 screens 20% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "MiTAC Holdings Fair Value". https://www.fairvalue-calculator.com/stock/3706

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Computer Hardware · 215 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 51 · Below median
Fair Value upside −20% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 3% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 4% · Below median
Revenue growth 35% · Top 25%
Dividend yield (TTM) 3.4% · Above median
Debt / equity 0.09× · Higher than median

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 17.7× · Cheaper than median
P/B 1.76× · Cheaper than median
P/S (TTM) 1.06× · Pricier than median
EV/EBITDA 17.4× · Pricier than median
PEG 2.56× · 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 7 · sector 0
FUTURE 100 · sector 57
PAST 45 · sector 26
HEALTH 96 · sector 97
DIVIDEND 68 · sector 44

Insider activity: 40/100

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is MiTAC Holdings (3706) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 73.42 TWD versus a price of 91.70 TWD, about −20% (overvalued).
What is the fair value of 3706?
Our model-based fair value for MiTAC Holdings is 73.42 TWD (as of Jul 15, 2026), built from audited fundamentals. The current price is 91.70 TWD.
What is the quality score of 3706?
MiTAC Holdings has a Quality Score of 51/100. 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 MiTAC Holdings (3706)?
MiTAC Holdings reported trailing-twelve-month revenue of about 114B TWD (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 3706?
The net profit margin of MiTAC Holdings is about 6.1%, meaning it keeps roughly 6.1% of revenue as net income. Based on the latest reported figures.
Does MiTAC Holdings pay a dividend?
MiTAC Holdings currently shows a dividend yield of about 3.19% relative to its recent price (as of Jul 15, 2026).

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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