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PCL Technologies, Inc (4977) Fair Value & Analysis

Technology · TW · Market cap 11.2B TWD

PT PCL Technologies, Inc 4977 · TW
Price144.50 TWD
Fair Value42.17 TWD
Upside-70.8%
Quality57/100
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Weak Growth
Highly profitable · 35.8% net margin
Low debt · negative free cash flow
1.63% dividend yield
Trails peers (4/12)
Narrow moat 41/100
Evidence: Medium Range 31.65 TWD – 62.21 TWD Share as image

Fair value as of: Jul 23, 2026

From 13 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 33.60 TWD to 42.17 TWD (+25.5%) since Jul 11, 2026. Share price −5.2% over the past month.

A solid business, but screening 71% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (62.21 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (31.65 TWD to 62.21 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

270.50 TWD 62.10 TWD Fair Value 42.17 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 62.10 TWD – 270.50 TWD · fair‑value band 31.65 TWD – 62.21 TWD · the 144.50 TWD price screens above the 42.17 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.

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Analysis

PCL Technologies, Inc (4977) currently trades at 144.50 TWD, while our model-based Fair Value estimate is 42.17 TWD, implying the stock looks roughly 70.8% overvalued today. The Quality Score stands at 57/100 (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: medium).

Over the trailing twelve months, PCL Technologies, Inc generated revenue of 1.0B TWD at a net margin of 35.8%. Revenue declined 23.7% year over year. It earns a return on equity of 9.5%. The balance sheet holds a net cash position of 206M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 31.65 TWD (bear case) to 62.21 TWD (bull case); at 144.50 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 47% below its 52-week high and 77% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -71%, 4977 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 41.37 TWD 45.02 TWD 58.87 TWD 76
ROIC Compounder 12.39 TWD 13.40 TWD 14.28 TWD 72
Growth-Adj P/E 45.35 TWD 64.78 TWD 84.22 TWD 68
All 13 models by family
DCF Models
Owner Earnings 56.02 TWD 75.52 TWD 111.63 TWD 31
Earnings-Based
Graham-Dodd 29.06 TWD 35.52 TWD 39.95 TWD 54
EPV 12.39 TWD 13.40 TWD 14.28 TWD 59
Multiples
P/E Multiple 64.10 TWD 85.46 TWD 106.83 TWD 63
P/S Multiple 24.38 TWD 32.50 TWD 40.63 TWD 58
P/B Multiple 54.48 TWD 72.64 TWD 90.81 TWD 55
EV/EBIT 18.33 TWD 22.31 TWD 26.30 TWD 53
EV/EBITDA 24.15 TWD 30.07 TWD 36.00 TWD 54
EV/Revenue 14.42 TWD 17.88 TWD 21.34 TWD 43
Asset-Based
NCAV (Graham) 24.31 TWD 32.57 TWD 48.62 TWD 50
Economic Profit
Residual Income 41.37 TWD 45.02 TWD 58.87 TWD 76
ROIC Compounder 12.39 TWD 13.40 TWD 14.28 TWD 72
Growth Earnings
Growth-Adj P/E 45.35 TWD 64.78 TWD 84.22 TWD 68

Widest divergence: DCF Models (75.52 TWD) versus Earnings-Based (13.40 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.0B TWD
Revenue growth (YoY) -23.7%
Net margin 35.8%
Return on equity 9.5%
Free cash flow −82.4M TWD FY2025
P/E ratio 30.8
More key figures
Operating margin -4.0%
EPS (TTM) 4.42 TWD
Dividend yield 1.6%
EPS growth (YoY) -53.6%
Net cash 206M TWD FY2025

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 53 · Market factors (momentum, volatility) 52

Profitability 42
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 69
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

PCL Technologies, Inc., together with its subsidiaries, researches, manufactures, and sells optical transceiver products in Taiwan and internationally. The company offers optical transceivers, fiber channels, TO-Can packages, and optical sub-assemblies, as well as sub-assembly and module products. It also offers tooling design services.

Full company description

PCL Technologies, Inc., together with its subsidiaries, researches, manufactures, and sells optical transceiver products in Taiwan and internationally. The company offers optical transceivers, fiber channels, TO-Can packages, and optical sub-assemblies, as well as sub-assembly and module products. It also offers tooling design services. In addition, the company provides reliability and testing support services comprising of design, pilot run, mass production, quality control and process improvement services. Further, it engages in research, manufacture, and sale of optical components; international trade; and provision of related skills and post-sales services. PCL Technologies, Inc. was founded in 2007 and is headquartered in Grand Cayman, the Cayman Islands.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PCL Technologies, Inc reported revenue of 1.1B TWD in FY2025 versus 2.5B TWD in FY2021, a compound −19.4%/yr. Reported net income was 353M TWD in FY2025, compounding +7.4%/yr from FY2021.

Growth Quality 19/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.1B TWD
Latest YoY
−1.5%
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.
−28.7%
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.
−20.3%
Avg. growth/yr (15Y) 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.
−2.5%
Revenue −19.4%/yr
FY21 2.5B TWD
FY22 3.0B TWD
FY23 1.7B TWD
FY24 1.1B TWD
FY25 1.1B TWD
Net income +7.4%/yr
FY21 266M TWD
FY22 424M TWD
FY23 341M TWD
FY24 263M TWD
FY25 353M TWD
Character of growth · EPS growth decomposed (2014-2025) −1.7 % p.a.
Revenue per share −6.5 pp

of which total revenue −3.6 pp · buybacks/dilution −2.9 pp

EBIT margin −9.3 pp
Tax rate −0.6 pp
Residual (interest, one-offs) +14.6 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).

4977 screens 71% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "PCL Technologies, Inc Fair Value". https://www.fairvalue-calculator.com/stock/4977

Peer Group

Computer Hardware · 215 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 57 · Above median
Fair Value upside −71% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 1% · Below median
Net margin (TTM) 36% · Top 25%
Operating margin (TTM) -4% · Bottom 25%
Revenue growth -24% · Bottom 25%
Dividend yield (TTM) 1.6% · Below median

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 30.8× · Pricier than median
P/B 2.80× · Pricier than median
P/S (TTM) 11.13× · Pricier 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 0 · sector 0
FUTURE 0 · sector 57
PAST 38 · sector 26
HEALTH 100 · sector 97
DIVIDEND 33 · sector 44

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

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is PCL Technologies, Inc (4977) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 42.17 TWD versus a price of 144.50 TWD, about −71% (overvalued).
What is the fair value of 4977?
Our model-based fair value for PCL Technologies, Inc is 42.17 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 144.50 TWD.
What is the quality score of 4977?
PCL Technologies, Inc has a Quality Score of 57/100. 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 PCL Technologies, Inc (4977)?
PCL Technologies, Inc reported trailing-twelve-month revenue of about 1.0B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4977?
The net profit margin of PCL Technologies, Inc is about 35.8%, meaning it keeps roughly 35.8% of revenue as net income. Based on the latest reported figures.
Does PCL Technologies, Inc pay a dividend?
PCL Technologies, Inc currently shows a dividend yield of about 1.30% 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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