Apex International Co (4927) Fair Value & Analysis

Technology · TW · Market cap 9.4B TWD

Below-average quality, and screening another 40% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (29.90 TWD). The favourable scenario is already priced in.
• Weak quality (19/100) and above fair value at the same time, the margin of safety is missing on both counts.
• The model range is unusually wide (10.41 TWD to 29.90 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

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 19.85 TWD – 124.48 TWD · fair‑value band 10.41 TWD – 29.90 TWD · the 33.80 TWD price screens above the 20.25 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.

Full chart & analysis →

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Analysis

Apex International Co (4927) currently trades at 33.80 TWD, while our model-based Fair Value estimate is 20.25 TWD, implying the stock looks roughly 40.1% overvalued today. The Quality Score stands at 19/100 (below-average 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: low).

Over the trailing twelve months, Apex International Co generated revenue of 11.2B TWD at a net margin of -22.7%. Revenue declined 12.0% year over year. It earns a return on equity of -44.0%. Net debt stands at 9.3B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 10.41 TWD (bear case) to 29.90 TWD (bull case); at 33.80 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 49% below its 52-week high and 67% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -40%, 4927 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.

Widest divergence: Dividend Discount (20.88 TWD) versus Asset-Based (14.85 TWD). Highest evidence: Gordon GGM (70).

Key figures & financial health

Quality Score breakdown

About the company

Apex International Co., Ltd. manufactures, processes, trades, and sells printed circuit boards in Singapore, Thailand, Vietnam, South Korea, Hong Kong, and internationally. The company provides single-sided, double-sided, and multi-layer printed circuit boards used in LCD TVs, set-top boxes, hard disks, printers, and multimedia equipment for automobiles.

Full company description

Apex International Co., Ltd. manufactures, processes, trades, and sells printed circuit boards in Singapore, Thailand, Vietnam, South Korea, Hong Kong, and internationally. The company provides single-sided, double-sided, and multi-layer printed circuit boards used in LCD TVs, set-top boxes, hard disks, printers, and multimedia equipment for automobiles. It also offers home appliances, PC-related appliances, communication appliances, and auto parts appliances. The company was founded in 2001 and is based in Grand Cayman, the Cayman Islands.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Apex International Co reported revenue of 11.6B TWD in FY2025 versus 14.8B TWD in FY2021, a compound −5.9%/yr. Reported net income was −2.0B TWD in FY2025.

4927 screens 40% overvalued. Compare with Delta Electronics, Inc →

Peer Group

Electronic Components · 625 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.

Valuation Multiples vs Electronic Components median · lower = cheaper

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: 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.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

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Frequently asked questions

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.