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Generalplus Technology Inc (4952) Fair Value & Analysis

Technology · TW · Market cap 5.4B TWD

GT Generalplus Technology Inc 4952 · TW
Price49.70 TWD
Fair Value33.63 TWD
Upside-32.3%
Quality63/100
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Weak Growth
Thin margins · 5.5% net margin
generates free cash flow
2.12% dividend yield
Mixed vs. peers (7/13)
Narrow moat 36/100
Evidence: High Range 25.23 TWD – 39.70 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 20.65 TWD to 33.63 TWD (+62.8%) since Jul 11, 2026. Share price −14.0% over the past month.

A solid business, but screening 32% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (39.70 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

74.40 TWD 34.40 TWD Fair Value 33.63 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 34.40 TWD – 74.40 TWD · fair‑value band 25.23 TWD – 39.70 TWD · the 49.70 TWD price screens above the 33.63 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Generalplus Technology Inc (4952) currently trades at 49.70 TWD, while our model-based Fair Value estimate is 33.63 TWD, implying the stock looks roughly 32.3% overvalued today. The Quality Score stands at 63/100 (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, Generalplus Technology Inc generated revenue of 2.2B TWD at a net margin of 5.5%. Revenue grew 11.5% year over year. It earns a return on equity of 5.4%. The balance sheet holds a net cash position of 683M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 25.23 TWD (bear case) to 39.70 TWD (bull case); at 49.70 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 15% below its 52-week high and 46% 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 -32%, 4952 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
Residual Income 14.96 TWD 15.33 TWD 14.89 TWD 76
Growth DCF 23.10 TWD 28.20 TWD 36.64 TWD 72
Gordon GGM 19.76 TWD 21.54 TWD 24.22 TWD 70
All 24 models by family
DCF Models
FCF DCF 22.49 TWD 27.78 TWD 37.28 TWD 38
Owner Earnings 21.13 TWD 25.92 TWD 34.53 TWD 31
5Y Revenue Exit 17.83 TWD 21.17 TWD 26.01 TWD 39
5Y EBITDA Exit 21.75 TWD 27.96 TWD 36.19 TWD 41
5Y P/E Exit 21.76 TWD 27.97 TWD 35.41 TWD 38
10Y Revenue Exit 19.43 TWD 22.05 TWD 24.74 TWD 36
10Y EBITDA Exit 21.94 TWD 26.15 TWD 30.59 TWD 37
10Y P/E Exit 21.95 TWD 26.16 TWD 30.14 TWD 35
Earnings-Based
Graham-Dodd 7.02 TWD 8.58 TWD 9.65 TWD 54
EPV 14.17 TWD 15.15 TWD 15.98 TWD 59
Dividend Discount
Gordon GGM 19.76 TWD 21.54 TWD 24.22 TWD 70
DDM Multi-Stage 19.76 TWD 24.42 TWD 30.77 TWD 61
Multiples
P/E Multiple 15.49 TWD 20.65 TWD 25.81 TWD 63
P/S Multiple 13.16 TWD 17.55 TWD 21.94 TWD 58
P/B Multiple 13.16 TWD 17.55 TWD 21.94 TWD 55
EV/EBIT 18.88 TWD 22.50 TWD 26.12 TWD 53
EV/EBITDA 23.49 TWD 28.65 TWD 33.81 TWD 54
EV/Revenue 15.34 TWD 18.47 TWD 21.61 TWD 43
Asset-Based
NCAV (Graham) 9.71 TWD 13.01 TWD 19.42 TWD 50
Growth DCF
Growth DCF 23.10 TWD 28.20 TWD 36.64 TWD 72
Rev-Margin DCF 17.83 TWD 21.52 TWD 26.17 TWD 67
Economic Profit
Residual Income 14.96 TWD 15.33 TWD 14.89 TWD 76
ROIC Compounder 14.17 TWD 15.15 TWD 15.98 TWD 67
Growth Earnings
Growth-Adj P/E 10.96 TWD 15.65 TWD 20.35 TWD 68

Widest divergence: DCF Models (26.15 TWD) versus Earnings-Based (8.58 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.2B TWD
Revenue growth (YoY) +11.5%
Net margin 5.5%
Return on equity 5.4%
Free cash flow 170M TWD FY2025
P/E ratio 47.8
More key figures
Operating margin 8.6%
EPS (TTM) 1.03 TWD
Dividend yield 2.1%
EPS growth (YoY) +19.0%
Net cash 683M TWD FY2025

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

Quality Score breakdown

Overall quality 63/100

Of which business quality 64 · Market factors (momentum, volatility) 65

Profitability 40
Margins and returns on capital today
Quality Growth 8
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 60
Distance to the 52-week high (market factor)
Net Issuance 88
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

Generalplus Technology Inc. engages in the research, development, design, manufacturing, and sale of integrated circuit products in Taiwan and internationally.

Full company description

Generalplus Technology Inc. engages in the research, development, design, manufacturing, and sale of integrated circuit products in Taiwan and internationally. It offers channel speech/tone synthesizers, sound processors, controllers, and one battery speech synthesizers; LCD controllers and drivers; multimedia processors; automobile video recorders; motor, touch, wireless, and remote controllers, as well as other microcontroller units; camera solution; flash memory products; and audio amplifiers, linear regulators, ADC and microphone pre-amplifiers, I/O bus extenders, USB bridge and socket servers, touch applications, and USB headset solutions. The company was incorporated in 2004 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

Generalplus Technology Inc reported revenue of 2.1B TWD in FY2025 versus 3.6B TWD in FY2021, a compound −12.2%/yr. Reported net income was 112M TWD in FY2025, compounding −35.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.1B TWD
Latest YoY
−13.6%
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.
−12.4%
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.
−6.0%
Avg. growth/yr (18Y) 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.
−0.2%
Revenue −12.2%/yr
FY21 3.6B TWD
FY22 3.2B TWD
FY23 2.2B TWD
FY24 2.5B TWD
FY25 2.1B TWD
Net income −35.7%/yr
FY21 659M TWD
FY22 579M TWD
FY23 168M TWD
FY24 247M TWD
FY25 112M TWD
Character of growth · EPS growth decomposed (2014-2025) −7.7 % p.a.
Revenue per share −3.1 pp

of which total revenue −3.4 pp · buybacks/dilution +0.2 pp

EBIT margin −6.5 pp
Tax rate +0.9 pp
Residual (interest, one-offs) +1.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

4952 screens 32% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "Generalplus Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/4952

Peer Group

Semiconductors · 318 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 63 · Above median
Fair Value upside −32% · Above median
Return on equity (TTM) 5% · Below median
Return on assets 2% · Below median
Net margin (TTM) 6% · Below median
Operating margin (TTM) 9% · Above median
Revenue growth 12% · Below median
Dividend yield (TTM) 2.1% · Above median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 47.8× · Pricier than median
P/B 2.54× · Cheaper than median
P/S (TTM) 2.45× · Cheaper than median
P/FCF 1.0× · Cheaper than median
EV/EBITDA 27.9× · 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 0
FUTURE 58 · sector 60
PAST 22 · sector 25
HEALTH 0 · sector 97
DIVIDEND 42 · sector 22

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

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc 1MU €784.90 €185.67 -76%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is Generalplus Technology Inc (4952) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 33.63 TWD versus a price of 49.70 TWD, about −32% (overvalued).
What is the fair value of 4952?
Our model-based fair value for Generalplus Technology Inc is 33.63 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 49.70 TWD.
What is the quality score of 4952?
Generalplus Technology Inc has a Quality Score of 63/100. 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 Generalplus Technology Inc (4952)?
Generalplus Technology Inc reported trailing-twelve-month revenue of about 2.2B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 4952?
The net profit margin of Generalplus Technology Inc is about 5.5%, meaning it keeps roughly 5.5% of revenue as net income. Based on the latest reported figures.
Does Generalplus Technology Inc pay a dividend?
Generalplus Technology Inc currently shows a dividend yield of about 2.12% 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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