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HTM International Holding (4924) Fair Value & Analysis

Technology · TW · Market cap 374M TWD

HI HTM International Holding 4924 · TWO
Price10.00 TWD
Fair Value6.51 TWD
Upside-34.9%
Quality56/100
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Weak Growth
Thin margins · 3.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/13)
Narrow moat 32/100
Evidence: High Range 6.51 TWD – 8.14 TWD Share as image

Fair value as of: Jul 23, 2026

From 22 valuation models · updated 18 days ago

Share price −20.6% over the past month.

A solid business, but screening 35% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (8.14 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

30.35 TWD 9.75 TWD Fair Value 6.51 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 9.75 TWD – 30.35 TWD · fair‑value band 6.51 TWD – 8.14 TWD · the 10.00 TWD price screens above the 6.51 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

HTM International Holding (4924) currently trades at 10.00 TWD, while our model-based Fair Value estimate is 6.51 TWD, implying the stock looks roughly 34.9% overvalued today. The Quality Score stands at 56/100 (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, HTM International Holding generated revenue of 786M TWD at a net margin of 3.4%. Revenue grew 39.3% year over year. It earns a return on equity of 7.0%. Net debt stands at 172M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 6.51 TWD (bear case) to 8.14 TWD (bull case); at 10.00 TWD, the current price sits above 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 42% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -35%, 4924 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 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
Highest evidence
Growth DCF 0.3800 TWD 1.29 TWD 2.46 TWD 80
Rev-Margin DCF 0.0400 TWD 1.09 TWD 2.32 TWD 74
Growth-Adj P/E 6.62 TWD 9.45 TWD 12.29 TWD 68
All 22 models by family
DCF Models
FCF DCF 0.3700 TWD 1.44 TWD 2.90 TWD 38
Owner Earnings 1.44 TWD 3.02 TWD 5.17 TWD 31
5Y Revenue Exit 0.0400 TWD 1.08 TWD 2.39 TWD 39
5Y EBITDA Exit 10.51 TWD 20.92 TWD 33.36 TWD 41
5Y P/E Exit 3.32 TWD 7.30 TWD 11.55 TWD 38
10Y Revenue Exit 0.1000 TWD 1.03 TWD 2.27 TWD 36
10Y EBITDA Exit 6.28 TWD 13.71 TWD 24.13 TWD 37
10Y P/E Exit 2.07 TWD 5.01 TWD 8.73 TWD 35
Earnings-Based
Graham-Dodd 2.60 TWD 8.68 TWD 11.62 TWD 54
Lynch FV 1.97 TWD 2.81 TWD 3.65 TWD 50
PEG = 1.0 1.97 TWD 2.81 TWD 3.65 TWD 46
Multiples
P/E Multiple 8.04 TWD 10.72 TWD 13.40 TWD 63
P/S Multiple 4.88 TWD 6.51 TWD 8.14 TWD 58
P/B Multiple 4.88 TWD 6.51 TWD 8.14 TWD 55
EV/EBIT 1.66 TWD 2.85 TWD 4.03 TWD 53
EV/EBITDA 19.56 TWD 26.71 TWD 33.85 TWD 54
EV/Revenue 0.6800 TWD 1.45 TWD 43
Asset-Based
NCAV (Graham) 5.01 TWD 6.72 TWD 10.02 TWD 50
Growth DCF
Growth DCF 0.3800 TWD 1.29 TWD 2.46 TWD 80
Rev-Margin DCF 0.0400 TWD 1.09 TWD 2.32 TWD 74
Economic Profit
Residual Income 6.98 TWD 6.72 TWD 5.52 TWD 61
Growth Earnings
Growth-Adj P/E 6.62 TWD 9.45 TWD 12.29 TWD 68

Widest divergence: Growth Earnings (9.45 TWD) versus Growth DCF (1.09 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 786M TWD
Revenue growth (YoY) +39.3%
Net margin 3.4%
Return on equity 7.0%
Free cash flow 8.8M TWD FY2025
P/E ratio 32.0
More key figures
Operating margin 4.0%
EPS (TTM) 0.3800 TWD
EPS growth (YoY) +4,036%
Net debt 172M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 54 · Market factors (momentum, volatility) 34

Profitability 38
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 82
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

HTM International Holding Ltd., together with its subsidiaries, manufactures and sells precision plastic components and components, and biomass pellet fuel.

Full company description

HTM International Holding Ltd., together with its subsidiaries, manufactures and sells precision plastic components and components, and biomass pellet fuel. The company provides biomass fuels, computer peripherals, key parts and components, digital and AV products, and other products, as well as involved in the manufacture and sale of precision mold parts and components. It operates in Taiwan, Malaysia, Mainland China, Hong Kong, and Japan. HTM International Holding Ltd. was founded in 2009 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HTM International Holding reported revenue of 721M TWD in FY2025 versus 545M TWD in FY2021, a compound +7.2%/yr. Reported net income was 14.2M TWD in FY2025, compounding −20.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
721M TWD
Latest YoY
+4.0%
Avg. growth/yr (3Y) 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.
+1.8%
Revenue +7.2%/yr
FY21 545M TWD
FY22 683M TWD
FY23 500M TWD
FY24 693M TWD
FY25 721M TWD
Net income −20.8%/yr
FY21 36.3M TWD
FY22 32.6M TWD
FY23 −42.8M TWD
FY24 1.7M TWD
FY25 14.2M TWD

4924 screens 35% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "HTM International Holding Fair Value". https://www.fairvalue-calculator.com/stock/4924

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 56 · Above median
Fair Value upside −35% · Below median
Return on equity (TTM) 7% · Above median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 39% · Top 25%
Debt / equity 0.30× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 26.4× · Pricier than median
P/B 1.00× · Cheaper than median
P/S (TTM) 0.48× · Cheaper than median
P/FCF 1.3× · Cheaper than median
EV/EBITDA 8.5× · Cheaper 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 0 · sector 0
FUTURE 100 · sector 57
PAST 28 · sector 26
HEALTH 85 · sector 97
DIVIDEND 0 · sector 44

VALUE 0: the price sits above our fair-value range.

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 23, 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 HTM International Holding (4924) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 6.51 TWD versus a price of 10.00 TWD, about −35% (overvalued).
What is the fair value of 4924?
Our model-based fair value for HTM International Holding is 6.51 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 10.00 TWD.
What is the quality score of 4924?
HTM International Holding has a Quality Score of 56/100. 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 HTM International Holding (4924)?
HTM International Holding reported trailing-twelve-month revenue of about 786M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4924?
The net profit margin of HTM International Holding is about 3.4%, meaning it keeps roughly 3.4% of revenue as net income. Based on the latest reported figures.

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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