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Primax Electronics Ltd (4915) Fair Value & Analysis

Technology · TW · Market cap 30.9B TWD

PE Primax Electronics Ltd 4915 · TW
Price59.50 TWD
Fair Value97.50 TWD
Upside+63.9%
Quality58/100
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Weak Growth
Thin margins · 4.1% net margin
Low debt · generates free cash flow
7.08% dividend yield
Ranks above peers (13/15)
Narrow moat 39/100
Evidence: High Range 65.16 TWD – 135.46 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 19 days ago

Share price −12.8% over the past month.

A solid business, screening 64% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (65.16 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (65.16 TWD to 135.46 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

114.00 TWD 42.47 TWD Fair Value 97.50 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 42.47 TWD – 114.00 TWD · fair‑value band 65.16 TWD – 135.46 TWD · the 59.50 TWD price screens below the 97.50 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Primax Electronics Ltd (4915) currently trades at 59.50 TWD, while our model-based Fair Value estimate is 97.50 TWD, implying the stock looks roughly 63.9% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Primax Electronics Ltd generated revenue of 61.3B TWD at a net margin of 4.1%. Revenue grew 7.8% year over year. It earns a return on equity of 11.6%. The balance sheet holds a net cash position of 6.3B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 65.16 TWD (bear case) to 135.46 TWD (bull case); at 59.50 TWD, the current price sits below 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 34% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -16% fair-value upside, at 64%, 4915 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
Growth DCF 37.81 TWD 43.51 TWD 51.39 TWD 80
Residual Income 41.28 TWD 48.65 TWD 83.56 TWD 76
ROIC Compounder 70.09 TWD 80.69 TWD 92.20 TWD 72
All 24 models by family
DCF Models
FCF DCF 37.47 TWD 43.68 TWD 52.69 TWD 38
Owner Earnings 61.94 TWD 79.70 TWD 105.46 TWD 31
5Y Revenue Exit 62.10 TWD 89.06 TWD 123.15 TWD 39
5Y EBITDA Exit 78.03 TWD 117.75 TWD 163.15 TWD 41
5Y P/E Exit 76.06 TWD 114.20 TWD 153.05 TWD 38
10Y Revenue Exit 51.22 TWD 73.62 TWD 102.85 TWD 36
10Y EBITDA Exit 62.82 TWD 93.14 TWD 132.34 TWD 37
10Y P/E Exit 61.58 TWD 90.73 TWD 124.89 TWD 35
Earnings-Based
Graham-Dodd 37.85 TWD 96.12 TWD 124.96 TWD 54
PEG = 1.0 17.85 TWD 25.49 TWD 33.14 TWD 46
EPV 67.94 TWD 75.21 TWD 81.58 TWD 59
Dividend Discount
Gordon GGM 38.20 TWD 73.49 TWD 124.30 TWD 70
DDM Multi-Stage 38.20 TWD 58.16 TWD 79.73 TWD 61
Multiples
P/E Multiple 83.50 TWD 111.33 TWD 139.16 TWD 63
P/S Multiple 70.97 TWD 94.63 TWD 118.29 TWD 58
P/B Multiple 70.97 TWD 94.63 TWD 118.29 TWD 55
EV/EBIT 105.61 TWD 132.71 TWD 159.81 TWD 53
EV/EBITDA 111.30 TWD 140.30 TWD 169.30 TWD 54
EV/Revenue 79.11 TWD 102.59 TWD 126.08 TWD 43
Asset-Based
NCAV (Graham) 21.75 TWD 29.14 TWD 43.49 TWD 50
Growth DCF
Growth DCF 37.81 TWD 43.51 TWD 51.39 TWD 80
Economic Profit
Residual Income 41.28 TWD 48.65 TWD 83.56 TWD 76
ROIC Compounder 70.09 TWD 80.69 TWD 92.20 TWD 72
Growth Earnings
Growth-Adj P/E 64.90 TWD 92.72 TWD 120.53 TWD 68

Widest divergence: Multiples (102.59 TWD) versus Asset-Based (29.14 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 61.3B TWD
Revenue growth (YoY) +7.8%
Net margin 4.1%
Return on equity 11.6%
Free cash flow 574M TWD FY2025
P/E ratio 13.7
More key figures
Operating margin 4.3%
EPS (TTM) 5.63 TWD
Dividend yield 7.1%
EPS growth (YoY) -37.5%
Net cash 6.3B TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 36

Profitability 50
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 83
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

Primax Electronics Ltd., together with its subsidiaries, manufactures and sells computer peripherals and non-computer peripherals in China, Europe, the United States, and internationally. Primax Electronics Ltd. was founded in 1984 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Primax Electronics Ltd reported revenue of 60.2B TWD in FY2025 versus 71.6B TWD in FY2021, a compound −4.3%/yr. Reported net income was 2.6B TWD in FY2025, compounding +3.4%/yr from FY2021.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
60.2B TWD
Latest YoY
+3.3%
Avg. growth/yr (3Y)
−8.8%
Avg. growth/yr (5Y)
−2.5%
Avg. growth/yr (25Y)
+6.4%
Revenue −4.3%/yr
FY21 71.6B TWD
FY22 79.2B TWD
FY23 60.5B TWD
FY24 58.2B TWD
FY25 60.2B TWD
Net income +3.4%/yr
FY21 2.3B TWD
FY22 2.7B TWD
FY23 2.5B TWD
FY24 2.6B TWD
FY25 2.6B TWD

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Cite: Fair Value Calculator (2026). "Primax Electronics Ltd Fair Value". https://www.fairvalue-calculator.com/stock/4915

Peer Group

Consumer Electronics · 129 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 58 · Above median
Fair Value upside +64% · Top 25%
Return on equity (TTM) 12% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 4% · Above median
Revenue growth 8% · Above median
Dividend yield (TTM) 7.1% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Consumer Electronics median · lower = cheaper

P/E (TTM) 11.6× · Cheaper than 75% of peers
P/B 1.51× · Pricier than median
P/S (TTM) 0.50× · Cheaper than median
P/FCF 1.7× · Cheaper than median
EV/EBITDA 4.9× · Cheaper than 75% of peers
PEG 1.22× · 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 100 · sector 8
FUTURE 39 · sector 13
PAST 47 · sector 10
HEALTH 98 · sector 97
DIVIDEND 100 · sector 29

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 Consumer Electronics stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Apple Inc AAPL $313.33 $122.91 -61%
Samsung Electronics Co 005930 255,000 KRW 138,019 KRW -46%
Sony Group SONYN 366.00 MXN 468.94 MXN +28%
Xiaomi Corporation 1810 HK$26.88 HK$39.84 +48%
LG Electronics Inc 066570 179,000 KRW 101,531 KRW -43%
Sharetronic Data Technology Co 300857 ¥277.96 ¥35.89 -87%
Huaqin Co 603296 ¥78.20 ¥65.69 -16%
Goertek Inc 002241 ¥22.25 ¥18.86 -15%
LG Corp 003550 102,400 KRW 93,881 KRW -8%
Anker Innovations Limited 300866 ¥105.92 ¥78.52 -26%

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Frequently asked questions

Is Primax Electronics Ltd (4915) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 97.50 TWD versus a price of 59.50 TWD, about +64% (undervalued).
What is the fair value of 4915?
Our model-based fair value for Primax Electronics Ltd is 97.50 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 59.50 TWD.
What is the quality score of 4915?
Primax Electronics Ltd has a Quality Score of 58/100. 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 Primax Electronics Ltd (4915)?
Primax Electronics Ltd reported trailing-twelve-month revenue of about 61.3B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 4915?
The net profit margin of Primax Electronics Ltd is about 4.1%, meaning it keeps roughly 4.1% of revenue as net income. Based on the latest reported figures.
Does Primax Electronics Ltd pay a dividend?
Primax Electronics Ltd currently shows a dividend yield of about 7.08% relative to its recent price (as of Jul 21, 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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