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Asia Tech Image Inc (4974) Fair Value & Analysis

Technology · TW · Market cap 4.9B TWD

AT Asia Tech Image Inc 4974 · TWO
Price69.70 TWD
Fair Value103.27 TWD
Upside+48.2%
Quality67/100
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Weak Growth
Thin margins · 9.0% net margin
generates free cash flow
5.65% dividend yield
Ranks above peers (12/13)
Moderate moat 46/100
Evidence: High Range 77.46 TWD – 129.09 TWD Share as image

Fair value as of: Jul 23, 2026

From 22 valuation models · updated 18 days ago

Share price −1.1% over the past month.

A solid business, screening 48% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (77.46 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.
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Price vs Fair Value (5 years)

144.00 TWD 39.25 TWD Fair Value 103.27 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 39.25 TWD – 144.00 TWD · fair‑value band 77.46 TWD – 129.09 TWD · the 69.70 TWD price screens below the 103.27 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Asia Tech Image Inc (4974) currently trades at 69.70 TWD, while our model-based Fair Value estimate is 103.27 TWD, implying the stock looks roughly 48.2% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Asia Tech Image Inc generated revenue of 3.6B TWD at a net margin of 9.0%. Revenue declined 13.7% year over year. It earns a return on equity of 10.2%. The balance sheet holds a net cash position of 2.6B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 77.46 TWD (bear case) to 129.09 TWD (bull case); at 69.70 TWD, the current price sits below 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 30% below its 52-week high and 3% 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 48%, 4974 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 40.73 TWD 46.44 TWD 81.39 TWD 76
Growth DCF 78.16 TWD 90.81 TWD 112.18 TWD 72
Growth-Adj P/E 54.80 TWD 78.28 TWD 101.77 TWD 68
All 22 models by family
DCF Models
FCF DCF 76.65 TWD 89.75 TWD 113.78 TWD 38
Owner Earnings 95.33 TWD 115.06 TWD 151.25 TWD 31
5Y Revenue Exit 83.16 TWD 104.87 TWD 136.74 TWD 39
5Y EBITDA Exit 89.42 TWD 115.65 TWD 150.69 TWD 41
5Y P/E Exit 94.45 TWD 124.32 TWD 160.22 TWD 38
10Y Revenue Exit 78.92 TWD 95.17 TWD 113.01 TWD 36
10Y EBITDA Exit 83.96 TWD 101.79 TWD 121.20 TWD 37
10Y P/E Exit 86.96 TWD 107.11 TWD 126.79 TWD 35
Earnings-Based
Graham-Dodd 35.11 TWD 46.35 TWD 53.30 TWD 54
EPV 79.82 TWD 86.14 TWD 91.60 TWD 59
Multiples
P/E Multiple 77.46 TWD 103.27 TWD 129.09 TWD 63
P/S Multiple 65.84 TWD 87.78 TWD 109.73 TWD 58
P/B Multiple 65.84 TWD 87.78 TWD 109.73 TWD 55
EV/EBIT 116.75 TWD 142.42 TWD 168.08 TWD 53
EV/EBITDA 107.48 TWD 130.05 TWD 152.62 TWD 54
EV/Revenue 91.66 TWD 113.90 TWD 136.14 TWD 43
Asset-Based
NCAV (Graham) 22.70 TWD 30.42 TWD 45.40 TWD 50
Growth DCF
Growth DCF 78.16 TWD 90.81 TWD 112.18 TWD 72
Rev-Margin DCF 83.16 TWD 105.75 TWD 133.47 TWD 67
Economic Profit
Residual Income 40.73 TWD 46.44 TWD 81.39 TWD 76
ROIC Compounder 79.88 TWD 86.85 TWD 93.27 TWD 67
Growth Earnings
Growth-Adj P/E 54.80 TWD 78.28 TWD 101.77 TWD 68

Widest divergence: DCF Models (104.87 TWD) versus Asset-Based (30.42 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 3.6B TWD
Revenue growth (YoY) -13.7%
Net margin 9.0%
Return on equity 10.2%
Free cash flow 287M TWD FY2025
P/E ratio 13.3
More key figures
Operating margin 8.8%
EPS (TTM) 5.10 TWD
Dividend yield 5.7%
EPS growth (YoY) -40.3%
Net cash 2.6B TWD FY2023

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

Quality Score breakdown

Overall quality 67/100

Of which business quality 66 · Market factors (momentum, volatility) 43

Profitability 49
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 85
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

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Asia Tech Image Inc 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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.7B TWD
Latest YoY
−15.5%
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.
−4.7%
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.
−1.4%
Avg. growth/yr (8Y) 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 −3.0%/yr
FY21 4.2B TWD
FY22 4.3B TWD
FY23 3.5B TWD
FY24 4.4B TWD
FY25 3.7B TWD
Net income −3.1%/yr
FY21 425M TWD
FY22 579M TWD
FY23 409M TWD
FY24 528M TWD
FY25 374M TWD

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Cite: Fair Value Calculator (2026). "Asia Tech Image Inc Fair Value". https://www.fairvalue-calculator.com/stock/4974

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.

Quality Score 67 · Top 25%
Fair Value upside +48% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth -14% · Bottom 25%
Dividend yield (TTM) 5.7% · Top 25%

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 13.3× · Cheaper than 75% of peers
P/B 1.50× · Cheaper than median
P/S (TTM) 1.38× · Cheaper than median
P/FCF 0.5× · Cheaper than median
EV/EBITDA 4.7× · Cheaper than 75% of peers

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 98 · sector 0
FUTURE 0 · sector 32
PAST 41 · sector 24
HEALTH 0 · sector 95
DIVIDEND 100 · sector 25

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

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Asia Tech Image Inc (4974) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 103.27 TWD versus a price of 69.70 TWD, about +48% (undervalued).
What is the fair value of 4974?
Our model-based fair value for Asia Tech Image Inc is 103.27 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 69.70 TWD.
What is the quality score of 4974?
Asia Tech Image Inc 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 revenue of Asia Tech Image Inc (4974)?
Asia Tech Image Inc reported trailing-twelve-month revenue of about 3.6B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4974?
The net profit margin of Asia Tech Image Inc is about 9.0%, meaning it keeps roughly 9.0% of revenue as net income. Based on the latest reported figures.
Does Asia Tech Image Inc pay a dividend?
Asia Tech Image Inc currently shows a dividend yield of about 5.21% 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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