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Transcom, Inc (5222) Fair Value & Analysis

Technology · TW · Market cap 10.5B TWD

TI Transcom, Inc 5222 · TW
Price117.00 TWD
Fair Value47.26 TWD
Upside-59.6%
Quality45/100
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Expensive Growth
Solidly profitable · 19.7% net margin
Low debt · generates free cash flow
2.06% dividend yield
Mixed vs. peers (8/14)
Moderate moat 55/100
Evidence: High Range 31.35 TWD – 58.91 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Share price −4.9% over the past month.

Below-average quality, and screening another 60% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (58.91 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (31.35 TWD to 58.91 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

159.00 TWD 57.03 TWD Fair Value 47.26 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 57.03 TWD – 159.00 TWD · fair‑value band 31.35 TWD – 58.91 TWD · the 117.00 TWD price screens above the 47.26 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Transcom, Inc (5222) currently trades at 117.00 TWD, while our model-based Fair Value estimate is 47.26 TWD, implying the stock looks roughly 59.6% overvalued today. The Quality Score stands at 45/100 (below-average 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, Transcom, Inc generated revenue of 866M TWD at a net margin of 19.7%. Revenue declined 33.3% year over year. It earns a return on equity of 7.5%. The balance sheet holds a net cash position of 61.3M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 31.35 TWD (bear case) to 58.91 TWD (bull case); at 117.00 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 31% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -60%, 5222 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
Growth DCF 21.73 TWD 40.75 TWD 70.98 TWD 80
Residual Income 23.66 TWD 25.83 TWD 32.87 TWD 76
Rev-Margin DCF 22.20 TWD 38.91 TWD 62.35 TWD 74
All 26 models by family
DCF Models
FCF DCF 22.26 TWD 38.14 TWD 78.40 TWD 38
Owner Earnings 22.19 TWD 41.91 TWD 80.02 TWD 31
5Y Revenue Exit 22.20 TWD 39.70 TWD 64.85 TWD 39
5Y EBITDA Exit 32.42 TWD 62.48 TWD 102.88 TWD 41
5Y P/E Exit 33.82 TWD 65.60 TWD 104.78 TWD 38
10Y Revenue Exit 21.42 TWD 38.64 TWD 68.08 TWD 36
10Y EBITDA Exit 29.12 TWD 56.10 TWD 102.45 TWD 37
10Y P/E Exit 30.08 TWD 58.50 TWD 104.17 TWD 35
Earnings-Based
Graham-Dodd 16.79 TWD 99.38 TWD 138.42 TWD 54
Lynch FV 28.23 TWD 40.33 TWD 52.42 TWD 50
PEG = 1.0 28.23 TWD 40.33 TWD 52.42 TWD 46
EPV 24.80 TWD 28.35 TWD 31.47 TWD 59
Dividend Discount
Gordon GGM 32.87 TWD 68.33 TWD 108.40 TWD 70
DDM Multi-Stage 32.87 TWD 57.62 TWD 71.72 TWD 61
Multiples
P/E Multiple 37.04 TWD 49.39 TWD 61.74 TWD 63
P/S Multiple 19.64 TWD 26.19 TWD 32.74 TWD 58
P/B Multiple 31.49 TWD 41.98 TWD 52.48 TWD 55
EV/EBIT 40.01 TWD 52.19 TWD 64.37 TWD 53
EV/EBITDA 38.40 TWD 50.04 TWD 61.69 TWD 54
EV/Revenue 21.79 TWD 29.65 TWD 37.50 TWD 43
Asset-Based
NCAV (Graham) 13.68 TWD 18.34 TWD 27.37 TWD 50
Growth DCF
Growth DCF 21.73 TWD 40.75 TWD 70.98 TWD 80
Rev-Margin DCF 22.20 TWD 38.91 TWD 62.35 TWD 74
Economic Profit
Residual Income 23.66 TWD 25.83 TWD 32.87 TWD 76
ROIC Compounder 24.80 TWD 29.80 TWD 38.02 TWD 72
Growth Earnings
Growth-Adj P/E 40.36 TWD 57.66 TWD 74.96 TWD 68

Widest divergence: Growth Earnings (57.66 TWD) versus Asset-Based (18.34 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 866M TWD
Revenue growth (YoY) -33.3%
Net margin 19.7%
Return on equity 7.5%
Free cash flow 119M TWD FY2025
P/E ratio 45.4
More key figures
Operating margin 17.4%
EPS (TTM) 2.50 TWD
Dividend yield 2.2%
EPS growth (YoY) -73.2%
Net cash 61.3M TWD FY2025

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

Quality Score breakdown

Overall quality 45/100

Of which business quality 48 · Market factors (momentum, volatility) 43

Profitability 47
Margins and returns on capital today
Quality Growth 10
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 43
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 26
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

Transcom, Inc. operates as a microwave device and subsystem company in Taiwan. The company offers amplifiers(GaN), including amplifiers(GaN); drone/UAV, high-power SSPA modules; C-UAS/Jammer/EW; high-power SSPA modules; GaN solid-state power amplifiers(CW), and GaN solid-state power; amplifier; MIC module; subsystem; FET chip, such as super lower noise GaAs …

Full company description

Transcom, Inc. operates as a microwave device and subsystem company in Taiwan. The company offers amplifiers(GaN), including amplifiers(GaN); drone/UAV, high-power SSPA modules; C-UAS/Jammer/EW; high-power SSPA modules; GaN solid-state power amplifiers(CW), and GaN solid-state power; amplifier; MIC module; subsystem; FET chip, such as super lower noise GaAs FETs (Gallium Arsenide Field Effect Transistor), and high linearity and high efficiency GaAs Power FETs; packaged FET; monolithic microwave integrated circuits (MMIC); hybrid ICs; directional couplers; power dividers; fixed attenuators and termination products; and MIC chip capacitors; as well as technical support. It offers MMIC foundry services. It serves customers in Israel, China, the United States, Germany, and other international markets. The company was founded in 1998 and is headquartered in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Transcom, Inc reported revenue of 954M TWD in FY2025 versus 917M TWD in FY2021, a compound +1.0%/yr. Reported net income was 225M TWD in FY2025, compounding −2.3%/yr from FY2021.

Growth Quality 56/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
954M TWD
Latest YoY
−26.7%
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.
−2.7%
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.
+6.2%
Avg. growth/yr (14Y) 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.
+15.5%
Revenue +1.0%/yr
FY21 917M TWD
FY22 1.0B TWD
FY23 1.3B TWD
FY24 1.3B TWD
FY25 954M TWD
Net income −2.3%/yr
FY21 247M TWD
FY22 249M TWD
FY23 437M TWD
FY24 396M TWD
FY25 225M TWD
Character of growth · EPS growth decomposed (2015-2025) +15.9 % p.a.
Revenue per share +14.2 pp

of which total revenue +20.3 pp · buybacks/dilution −6.1 pp

EBIT margin +1.3 pp
Tax rate −2.3 pp
Residual (interest, one-offs) +2.7 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).

5222 screens 60% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "Transcom, Inc Fair Value". https://www.fairvalue-calculator.com/stock/5222

Peer Group

Semiconductor Equipment & Materials · 212 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 45 · Bottom 25%
Fair Value upside −60% · Above median
Return on equity (TTM) 7% · Below median
Return on assets 4% · Above median
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 17% · Above median
Revenue growth -33% · Bottom 25%
Dividend yield (TTM) 2.1% · Top 25%

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 46.0× · Cheaper than median
P/B 4.20× · Pricier than median
P/S (TTM) 12.10× · Pricier than 75% of peers
P/FCF 2.7× · Cheaper than median
EV/EBITDA 38.5× · 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 0 · sector 58
PAST 30 · sector 30
HEALTH 100 · sector 96
DIVIDEND 41 · sector 16

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is Transcom, Inc (5222) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 47.26 TWD versus a price of 117.00 TWD, about −60% (overvalued).
What is the fair value of 5222?
Our model-based fair value for Transcom, Inc is 47.26 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 117.00 TWD.
What is the quality score of 5222?
Transcom, Inc has a Quality Score of 45/100. 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 Transcom, Inc (5222)?
Transcom, Inc reported trailing-twelve-month revenue of about 866M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 5222?
The net profit margin of Transcom, Inc is about 19.7%, meaning it keeps roughly 19.7% of revenue as net income. Based on the latest reported figures.
Does Transcom, Inc pay a dividend?
Transcom, Inc currently shows a dividend yield of about 2.22% 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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