Aspeed Technology (5274) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Aspeed Technology stock TWD 5,045, price TWD 12,635, that is 60.1% below the price, quality 85 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range 1,283 TWD – 48,091 TWD · fair‑value band 3,313 TWD – 8,827 TWD · the 12,635 TWD price screens above the 5,045 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
Follow Aspeed Technology in your weekly email
Every Wednesday you see whether Aspeed Technology is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
ASPEED Technology Inc. operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally.
Show moreShow less
The company is involved in the design and sales of multimedia IC, computer peripheral IC, and advanced image processing IC. It also offers 2D VGA, BMC, and KVM over IP for server design and manufacturing firms; analog signal amplification and transmission, digital signal transmission, and digital network packet transmission computer peripheral ICs; and AST1230 SoC, a product that integrates real-time multi-image stitching and audio processing capabilities.
In addition, the company engages in wholesale of information software; retail and service industry; international trade; intellectual property; product design; and other industrial and commercial services. ASPEED Technology Inc. was incorporated in 2004 and is headquartered in Hsinchu City, Taiwan.
Stock analysis
Aspeed Technology (5274) currently trades at 12,635 TWD, while our model-based Fair Value estimate is 5,045 TWD, 60% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of 3,577 TWD per share, and 0 of the 26 models we run sit above the 12,635 TWD price.
Bear case: the Dividend Discount group reads lowest at 657.76 TWD, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 3,313 TWD (bear) to 8,827 TWD (bull), the price of 12,635 TWD sits above 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 85/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Aspeed Technology reported revenue of 9.1B TWD in FY2025 versus 3.6B TWD in FY2021, a compound +25.7%/yr. Reported net income was 3.9B TWD in FY2025, compounding +31.5%/yr from FY2021.
Key figures
Market cap 478B TWD (≈ $14.5B) Large · P/E ratio 97.9 · P/S ratio 40.5 · EPS (TTM) 129.07 TWD · Dividend yield 0.6% · Net margin 48.1% · Return on equity 87.2% · Return on assets (EBIT) 37.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 90 out of 100 (medium confidence).
What moves the price
The share trades about 40% below its 52-week high and 164% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 0% fair-value upside, at −60%, 5274 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (135.76 TWD to 4,479 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear3,313 TWDFair Value 5,045 TWDBull8,827 TWD
Price 12,635 TWD · Downside -60.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (47.85 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+40.6%
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.
+20.4%
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.
+24.3%
Start year 2020 (pandemic). Over 10 years: +24.8% a year
Revenue growth 12 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.
+25.6%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+31.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+30.5%
Dividend (yield on the price)0.6%
Per share before 2013divided by the spin-off factor 1.02
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.31.3% vs 26.7%, picking up
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.40% → 51%
2025 sits 88% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes more growth than the company has delivered so far and less than analysts expect.
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).
+45.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+61.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +43.4% a year for the price and +59.1% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Semiconductors · 370 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score85 · Top 25%
Fair Value upside−60.1% · Below median
Profitability
Return on equity (12 months)87.2% · Top 25%
Return on assets38.0% · Top 25%
Net margin (12 months)48.1% · Top 25%
Operating margin (12 months)53.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)72.3% · Top 25%
Dividend yield (12 months)0.6% · Below median
Valuation Multiplesvs Semiconductors median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Aspeed Technology Fair Value". https://www.fairvalue-calculator.com/stock/5274
Frequently asked questions
Is Aspeed Technology (5274) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 5,045 TWD versus a price of 12,635 TWD, about 60% lower (overvalued).
What is the fair value of 5274?
Our model-based fair value for Aspeed Technology is 5,045 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 12,635 TWD.
What is the quality score of 5274?
Aspeed Technology has a Quality Score of 85/100. 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 Aspeed Technology (5274)?
Our model-based price target is the fair value of 5,045 TWD (as of Nov 6, 2026) from 26 valuation models. Cautious scenario 3,313 TWD, optimistic scenario 8,827 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Aspeed Technology stock forecast for 2026?
Our models put fair value at 5,045 TWD, about 60% lower versus a price of 12,635 TWD (overvalued). Cautious scenario 3,313 TWD, optimistic scenario 8,827 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Aspeed Technology (5274)?
Aspeed Technology reported trailing-twelve-month revenue of about 11.8B TWD (latest available figure, as of Nov 6, 2026).
Does Aspeed Technology pay a dividend?
Aspeed Technology currently shows a dividend yield of 0.58% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Aspeed Technology (5274)?
For today's price to be fair in a discounted-cash-flow model, Aspeed Technology would have to grow free cash flow by +45.6 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +24.3 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 5274 use?
Our models discount Aspeed Technology at 10.2 %: a base by market capitalisation (large), damped by beta 1.18, 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 Aspeed Technology that is +45.6 % per year a year over ten years, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Aspeed Technology (5274) delivered so far?
Over the past 5 years revenue at Aspeed Technology grew +24.3 % a year. The price currently implies +45.6 % 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 Aspeed Technology (5274) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Aspeed Technology (+45.6 % 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 Aspeed Technology (5274)?
The free-cash-flow yield on the price is 0.87 %: that much free cash flow Aspeed Technology produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aspeed Technology (5274)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aspeed Technology it is 5,045 TWD per share (as of Nov 6, 2026), against a price of 12,635 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Aspeed Technology stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 5274 trades above its calculated fair value: price 12,635 TWD, fair value 5,045 TWD, a gap of about −60% (overvalued). 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 5274?
No. The price is what the market pays today (12,635 TWD); the fair value is what the company's own numbers justify (5,045 TWD). For Aspeed Technology the two are 7,590 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Aspeed Technology worth?
The market values Aspeed Technology at about 478B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 12,635 TWD; our models calculate a fair value of 5,045 TWD per share.
What do the bullish and bearish scenarios say about 5274?
Our models span a range for Aspeed Technology: cautious scenario 3,313 TWD, base 5,045 TWD, optimistic 8,827 TWD per share (as of Nov 6, 2026, price 12,635 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5274?
Aspeed Technology trades at a price-to-earnings ratio of 97.9 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 5,045 TWD is built from several models across several years. Other multiples: P/S 40.5, EV/EBITDA 72.2.
How solid is the balance sheet of Aspeed Technology (5274)?
Balance-sheet figures for Aspeed Technology (as of Nov 6, 2026): return on equity 87.2%. They feed the Quality Score of 85/100, which measures business quality independently of the share price.
How far is 5274 from its 52-week high?
Aspeed Technology trades at 12,635 TWD, about 40% below its 52-week high of 20,905 TWD and 164% above the low of 4,782 TWD (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 5,045 TWD is for.
Which stocks are comparable to Aspeed Technology?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, Inc, 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 Aspeed Technology stock attractive at the current price?
The data as of Nov 6, 2026: price 12,635 TWD, calculated fair value 5,045 TWD (−60%), Quality Score 85/100, from 26 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 5274 calculated?
We run Aspeed Technology through 26 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 5,045 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 15.5% above its aggregate fair value. Aspeed Technology itself currently trades above fair value. 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 Aspeed Technology (5274)?
The closing price on Nov 5, 2026 was 12,635 TWD. Our model-based fair value is 5,045 TWD, about 60% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aspeed Technology right now?
A high-quality business (quality 85/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (8,827 TWD). The favourable scenario is already priced in. The model range is unusually wide (3,313 TWD to 8,827 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of Aspeed Technology (5274) come from?
Earnings per share at Aspeed Technology grew +23.7 % a year from 2012 to 2023. Broken into its drivers: revenue per share +21.1 %, EBIT margin +3.3 %, tax rate −0.8 %, residual (interest, one-offs) −0.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Aspeed Technology
How large is the market capitalisation of Aspeed Technology (5274)?
The market capitalisation of Aspeed Technology is 478B TWD (≈ $14.5B). 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 Aspeed Technology (5274)?
The price-to-sales ratio of Aspeed Technology is 40.5 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Aspeed Technology (5274)?
Earnings per share at Aspeed Technology are 129.07 TWD (price ÷ EPS = P/E 97.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Aspeed Technology (5274)?
The dividend yield of Aspeed Technology is 0.6% (payout 56.3%). 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 Aspeed Technology (5274)?
The net margin of Aspeed Technology is 48.1% (last twelve months). 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 Aspeed Technology (5274)?
The return on equity (ROE) of Aspeed Technology is 87.2% (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 Aspeed Technology (5274)?
On an EBIT basis the return on assets of Aspeed Technology is 37.2% (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 Aspeed Technology (5274)?
The operating margin of Aspeed Technology is 53.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aspeed Technology (5274)?
Revenue at Aspeed Technology is growing +72.3% versus a year earlier (3y avg +20.4%). 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 Aspeed Technology (5274)?
Earnings per share at Aspeed Technology are growing +195% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Aspeed Technology (5274) hold?
Aspeed Technology holds more cash than debt, 1.6B TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Aspeed Technology in the live analysis
One click puts Aspeed Technology on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Broad data
Nov 6, 2026