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Win Win Precision Technology Co (4949) Fair Value & Analysis

Technology · TW · Market cap 4.8B TWD

WW Win Win Precision Technology Co 4949 · TW
Price72.50 TWD
Fair Value46.51 TWD
Upside-35.9%
Quality64/100
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Weak Growth
Thin margins · 7.0% net margin
generates free cash flow
2.04% dividend yield
Ranks above peers (8/13)
Moderate moat 50/100
Evidence: High Range 35.53 TWD – 63.59 TWD Share as image

Fair value as of: Jul 23, 2026

From 24 valuation models · updated 18 days ago

Share price −8.2% over the past month.

A solid business, but screening 36% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (63.59 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

108.00 TWD 3.96 TWD Fair Value 46.51 TWD Mar 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 3.96 TWD – 108.00 TWD · fair‑value band 35.53 TWD – 63.59 TWD · the 72.50 TWD price screens above the 46.51 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Win Win Precision Technology Co (4949) currently trades at 72.50 TWD, while our model-based Fair Value estimate is 46.51 TWD, implying the stock looks roughly 35.9% overvalued today. The Quality Score stands at 64/100 (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, Win Win Precision Technology Co generated revenue of 2.6B TWD at a net margin of 7.0%. Revenue grew 36.7% year over year. It earns a return on equity of 11.5%. The balance sheet holds a net cash position of 767M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 35.53 TWD (bear case) to 63.59 TWD (bull case); at 72.50 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 36% below its 52-week high and 116% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -7% fair-value upside, at -36%, 4949 screens richer 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
Residual Income 20.11 TWD 21.39 TWD 23.26 TWD 76
Growth DCF 27.09 TWD 31.90 TWD 39.86 TWD 72
Gordon GGM 9.56 TWD 10.42 TWD 11.72 TWD 70
All 24 models by family
DCF Models
FCF DCF 26.52 TWD 31.51 TWD 40.46 TWD 38
Owner Earnings 31.66 TWD 38.54 TWD 50.87 TWD 31
5Y Revenue Exit 33.27 TWD 44.56 TWD 61.02 TWD 39
5Y EBITDA Exit 44.30 TWD 63.66 TWD 89.29 TWD 41
5Y P/E Exit 38.79 TWD 54.13 TWD 72.39 TWD 38
10Y Revenue Exit 29.74 TWD 37.76 TWD 46.53 TWD 36
10Y EBITDA Exit 36.97 TWD 49.30 TWD 62.75 TWD 37
10Y P/E Exit 33.70 TWD 43.54 TWD 53.06 TWD 35
Earnings-Based
Graham-Dodd 12.89 TWD 15.75 TWD 17.72 TWD 54
EPV 34.39 TWD 37.79 TWD 40.72 TWD 59
Dividend Discount
Gordon GGM 9.56 TWD 10.42 TWD 11.72 TWD 70
DDM Multi-Stage 9.56 TWD 11.82 TWD 14.89 TWD 61
Multiples
P/E Multiple 39.80 TWD 53.07 TWD 66.34 TWD 63
P/S Multiple 24.17 TWD 32.22 TWD 40.28 TWD 58
P/B Multiple 24.17 TWD 32.22 TWD 40.28 TWD 55
EV/EBIT 66.53 TWD 84.41 TWD 102.30 TWD 53
EV/EBITDA 63.39 TWD 80.23 TWD 97.06 TWD 54
EV/Revenue 40.00 TWD 51.63 TWD 63.25 TWD 43
Asset-Based
NCAV (Graham) 12.28 TWD 16.46 TWD 24.56 TWD 50
Growth DCF
Growth DCF 27.09 TWD 31.90 TWD 39.86 TWD 72
Rev-Margin DCF 33.27 TWD 44.89 TWD 58.95 TWD 67
Economic Profit
Residual Income 20.11 TWD 21.39 TWD 23.26 TWD 76
ROIC Compounder 34.39 TWD 38.68 TWD 42.98 TWD 67
Growth Earnings
Growth-Adj P/E 27.84 TWD 39.77 TWD 51.71 TWD 68

Widest divergence: Multiples (51.63 TWD) versus Dividend Discount (10.42 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.6B TWD
Revenue growth (YoY) +36.7%
Net margin 7.0%
Return on equity 11.5%
Free cash flow 99.7M TWD FY2025
P/E ratio 37.6
More key figures
Operating margin 12.5%
EPS (TTM) 1.89 TWD
Dividend yield 2.0%
EPS growth (YoY) +196%
Net cash 767M TWD FY2025

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 63 · Market factors (momentum, volatility) 66

Profitability 52
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 31
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

Win Win Precision Technology Co., Ltd., together with its subsidiaries, engages in the research, development, manufacturing, and sales of semiconductor components and solar photovoltaic modules in Taiwan, Europe, and internationally. It operates in two segments, Solar Business Group and Semiconductor Business Group.

Full company description

Win Win Precision Technology Co., Ltd., together with its subsidiaries, engages in the research, development, manufacturing, and sales of semiconductor components and solar photovoltaic modules in Taiwan, Europe, and internationally. It operates in two segments, Solar Business Group and Semiconductor Business Group. The company provides system design, plan, and integration services. It is also involved in the manufacturing, sale, and maintenance of consumable components for semiconductor and optoelectronic industry production equipment. In addition, the company designs and develops solar energy system; investment and management consulting services; and operates solar power plant. Further, it offers Ion implantation machine and chemical vapor deposition equipment; component development solution; technological energy; and repair services, as well as corporate energy transition and high-efficiency solar modules. The company was incorporated in 2003 and is headquartered in Hsinchu City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Win Win Precision Technology Co reported revenue of 2.4B TWD in FY2025 versus 3.1B TWD in FY2021, a compound −6.4%/yr. Reported net income was 128M TWD in FY2025, compounding +25.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.4B TWD
Latest YoY
−0.5%
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.
−24.6%
Avg. growth/yr (5Y) 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.
−0.8%
Avg. growth/yr (6Y) 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.
+0.8%
Revenue −6.4%/yr
FY21 3.1B TWD
FY22 5.6B TWD
FY23 4.5B TWD
FY24 2.4B TWD
FY25 2.4B TWD
Net income +25.3%/yr
FY21 52.1M TWD
FY22 513M TWD
FY23 194M TWD
FY24 −90.3M TWD
FY25 128M TWD

4949 screens 36% overvalued. Compare with First Solar, Inc →

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Cite: Fair Value Calculator (2026). "Win Win Precision Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/4949

Peer Group

Solar · 118 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 64 · Top 25%
Fair Value upside −36% · Below median
Return on equity (TTM) 12% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 12% · Top 25%
Revenue growth 37% · Top 25%
Dividend yield (TTM) 2.0% · Above median

Valuation Multiples vs Solar median · lower = cheaper

P/E (TTM) 37.6× · Pricier than median
P/B 2.89× · Pricier than median
P/S (TTM) 1.84× · Pricier than median
P/FCF 1.5× · Cheaper than 75% of peers
EV/EBITDA 12.8× · 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 0 · sector 18
FUTURE 100 · sector 0
PAST 46 · sector 0
HEALTH 0 · sector 85
DIVIDEND 41 · sector 14

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 Solar stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
First Solar, Inc FSLR $221.03 $284.45 +29%
Nextpower Inc NXT $111.50 $69.61 -38%
Waaree Energies Limited WAAREEENER ₹2,923 ₹3,613 +24%
Tongwei Co 600438 ¥13.08 ¥12.13 -7%
Jinko Solar Co 688223 ¥4.39 ¥4.75 +8%
Hengdian Group 002056 ¥21.64 ¥22.76 +5%
CSI Solar Co 688472 ¥10.11 ¥7.01 -31%
Enphase Energy, Inc ENPH $44.83 $22.20 -50%
Premier Energies Limited PREMIERENE ₹1,086 ₹912.32 -16%
Trina Solar Co 688599 ¥12.98 ¥7.97 -39%

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Frequently asked questions

Is Win Win Precision Technology Co (4949) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 46.51 TWD versus a price of 72.50 TWD, about −36% (overvalued).
What is the fair value of 4949?
Our model-based fair value for Win Win Precision Technology Co is 46.51 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 72.50 TWD.
What is the quality score of 4949?
Win Win Precision Technology Co has a Quality Score of 64/100. 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 Win Win Precision Technology Co (4949)?
Win Win Precision Technology Co reported trailing-twelve-month revenue of about 2.6B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4949?
The net profit margin of Win Win Precision Technology Co is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.
Does Win Win Precision Technology Co pay a dividend?
Win Win Precision Technology Co currently shows a dividend yield of about 1.56% relative to its recent price (as of Jul 23, 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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