Asia Tech Image (4974) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Asia Tech Image TWD 104, price TWD 70.50, upside +47.8%, quality 67 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Asia Tech Image Inc. designs, develops, and manufactures contact image sensor module (CIS) products in Taiwan, China, and Myanmar. It also engages in the trading activities; and manufacturing and selling of optical products. The company was incorporated in 2004 and is based in New Taipei City, Taiwan.
Stock analysis
Asia Tech Image (4974) currently trades at 70.50 TWD, while our model-based Fair Value estimate is 104.19 TWD, implying the stock looks roughly 32.3% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 113.90 TWD per share, and 19 of the 22 models we run sit above the 70.50 TWD price.
Bear case: the Asset-Based group reads lowest at 30.42 TWD, and 3 of the 22 models stay below the price. Evidence for this calculation is high.
Scenario range: 75.85 TWD (bear) to 127.86 TWD (bull), the price of 70.50 TWD sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 67/100 (solid quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Asia Tech Image reported revenue of 3.7B TWD in FY2025 versus 4.2B TWD in FY2021, a compound −3.0%/yr. Reported net income was 374M TWD in FY2025, compounding −3.1%/yr from FY2021.
Key figures
Market cap 5.1B TWD (≈ $160M) · P/E ratio 13.8 · P/S ratio 1.39 · EPS (TTM) 5.10 TWD · Dividend yield 5.5% · Net margin 10.1% · Return on equity 10.2% · Return on assets (EBIT) 13.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 13% 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 −66% fair-value upside, at 48%, 4974 screens cheaper than that median.
Fair Value models
Bear 75.85 TWDFair Value 104.19 TWDBull 127.86 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.8811 TWD per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−15.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.7%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−1.4%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.2%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+5.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.4%
Dividend (yield on the price)5.5%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.12% → 11%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−1.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −3.0% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Electronic Components · 653 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside+47% · Top 25%
Profitability
Return on equity (TTM)10% · Above median
Return on assets5% · Top 25%
Net margin (TTM)9% · Above median
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth−14% · Bottom 25%
Dividend yield (TTM)5.5% · Top 25%
Valuation Multiplesvs Electronic Components median · lower = cheaper
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Is Asia Tech Image (4974) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 104.19 TWD versus a price of 70.50 TWD, about +48% upside (undervalued).
What is the fair value of 4974?
Our model-based fair value for Asia Tech Image is 104.19 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 70.50 TWD.
What is the quality score of 4974?
Asia Tech Image has a Quality Score of 67/100. 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 price target for Asia Tech Image (4974)?
Our model-based price target is the fair value of 104.19 TWD (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 75.85 TWD, optimistic scenario 127.86 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Asia Tech Image stock forecast for 2026?
Our models put fair value at 104.19 TWD, about +48% upside versus a price of 70.50 TWD (undervalued). Cautious scenario 75.85 TWD, optimistic scenario 127.86 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Asia Tech Image (4974)?
Asia Tech Image reported trailing-twelve-month revenue of about 3.6B TWD (latest available figure, as of Sep 24, 2026).
Does Asia Tech Image pay a dividend?
Asia Tech Image currently shows a dividend yield of about 5.53% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Asia Tech Image (4974)?
For today's price to be fair in a discounted-cash-flow model, Asia Tech Image would have to grow free cash flow by -1.4 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 4974 use?
Our models discount Asia Tech Image at 11.8 %: a base by market capitalisation (micro), damped by beta 0.52, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Asia Tech Image that is -1.4 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Asia Tech Image (4974) delivered so far?
Over the past 5 years revenue at Asia Tech Image grew -1.4 % a year. The price currently implies -1.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Asia Tech Image (4974) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Asia Tech Image (-1.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Asia Tech Image (4974)?
The free-cash-flow yield on the price is 5.61 %: that much free cash flow Asia Tech Image produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Asia Tech Image (4974)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Asia Tech Image it is 104.19 TWD per share (as of Sep 24, 2026), against a price of 70.50 TWD. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Asia Tech Image stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 4974 trades below its calculated fair value: price 70.50 TWD, fair value 104.19 TWD, a gap of about +48% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 4974?
No. The price is what the market pays today (70.50 TWD); the fair value is what the company's own numbers justify (104.19 TWD). For Asia Tech Image the two are 33.69 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Asia Tech Image worth?
The market values Asia Tech Image at about 5.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 70.50 TWD; our models calculate a fair value of 104.19 TWD per share.
What do the bullish and bearish scenarios say about 4974?
Our models span a range for Asia Tech Image: cautious scenario 75.85 TWD, base 104.19 TWD, optimistic 127.86 TWD per share (as of Sep 24, 2026, price 70.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4974?
Asia Tech Image trades at a price-to-earnings ratio of 13.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 104.19 TWD is built from several models across several years. Other multiples: P/B 1.6, P/S 1.4, EV/EBITDA 5.2.
How solid is the balance sheet of Asia Tech Image (4974)?
Balance-sheet figures for Asia Tech Image (as of Sep 24, 2026): return on equity 10.2%. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is 4974 from its 52-week high?
Asia Tech Image trades at 70.50 TWD, about 13% below its 52-week high of 81.20 TWD and 6% above the low of 66.40 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 104.19 TWD is for.
Which stocks are comparable to Asia Tech Image?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Corning Incorporated, Hon Hai Precision Industry Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Asia Tech Image stock attractive at the current price?
The data as of Sep 24, 2026: price 70.50 TWD, calculated fair value 104.19 TWD (+48%), Quality Score 67/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 4974 calculated?
We run Asia Tech Image through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 104.19 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.2 % above its aggregate fair value. Asia Tech Image currently trades 48 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Asia Tech Image (4974)?
The closing price on Sep 24, 2026 was 70.50 TWD. Our model-based fair value is 104.19 TWD, about +48% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Asia Tech Image right now?
The price is below even our cautious bear case (75.85 TWD). The market is more pessimistic than our downside scenario. Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Asia Tech Image
How large is the market capitalisation of Asia Tech Image (4974)?
The market capitalisation of Asia Tech Image is 5.1B TWD (≈ $160M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Asia Tech Image (4974)?
The price-to-sales ratio of Asia Tech Image is 1.39 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Asia Tech Image (4974)?
Earnings per share at Asia Tech Image are 5.10 TWD (price ÷ EPS = P/E 13.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Asia Tech Image (4974)?
The dividend yield of Asia Tech Image is 5.5% (payout 76.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Asia Tech Image (4974)?
The net margin of Asia Tech Image is 10.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Asia Tech Image (4974)?
The return on equity (ROE) of Asia Tech Image is 10.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Asia Tech Image (4974)?
On an EBIT basis the return on assets of Asia Tech Image is 13.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Asia Tech Image (4974)?
The operating margin of Asia Tech Image is 8.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Asia Tech Image (4974)?
Revenue at Asia Tech Image is growing −13.7% versus a year earlier (3y avg −4.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Asia Tech Image (4974)?
Earnings per share at Asia Tech Image are growing −40.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Asia Tech Image (4974) hold?
Asia Tech Image holds more cash than debt, 2.6B TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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