Aspeed Technology (5274) fair value: what the stock is really worth
We calculate from audited financials what Aspeed Technology is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range 1,283 TWD – 48,091 TWD · fair‑value band 3,338 TWD – 10,855 TWD · the 19,820 TWD price screens above the 5,858 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
ASPEED Technology Inc. operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally. The company is involved in the design and sales of multimedia IC, computer peripheral IC, and advanced image processing IC.
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ASPEED Technology Inc. operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally. 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 19,820 TWD, while our model-based Fair Value estimate is 5,858 TWD, implying the stock looks roughly 238.3% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 3,577 TWD per share, and 0 of the 24 models we run sit above the 19,820 TWD price.
Bear case: the Multiples group reads lowest at 1,232 TWD, and 24 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 3,338 TWD (bear) to 10,855 TWD (bull), the price of 19,820 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 82/100 (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 749B TWD (≈ $23.7B) · P/E ratio 209.4 · P/S ratio 90.5 · EPS (TTM) 94.64 TWD · Dividend yield 0.4% · Net margin 43.2% · Return on equity 84.7% · Return on assets (EBIT) 37.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (medium confidence).
What moves the price
The share trades near its 52-week high, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −64% fair-value upside, at −70%, 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 (121.98 TWD to 4,764 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 3,338 TWDFair Value 5,858 TWDBull 10,855 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 (16.84 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.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%
Revenue growth 15 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.
+26.0%
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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.
+30.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+30.5%
Dividend (yield on the price)0.4%
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% vs 27%, 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.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+54.0%
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.
+49.1%
Yearly sales growth analysts expect, extended to five years.
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.Semiconductors · 327 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score82 · Top 25%
Fair Value upside−87% · Bottom 25%
Profitability
Return on equity (TTM)85% · Top 25%
Return on assets32% · Top 25%
Net margin (TTM)44% · Top 25%
Operating margin (TTM)53% · Top 25%
Growth and dividend
Revenue growth52% · Top 25%
Dividend yield (TTM)0.4% · Below median
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (TTM)209.4× · Priciest 25%
P/S (TTM)50.68× · Priciest 25%
P/FCF3.9× · Pricier than median
EV/EBITDA90.9× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 63
PAST (return on equity)100· sector 25
HEALTH (low debt)0· sector 96
DIVIDEND (yield)8· sector 18
VALUE 0: the price sits above our fair-value range.
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 Sep 18, 2026, our model estimates a fair value of 5,858 TWD versus a price of 19,820 TWD, about −70% upside (overvalued).
What is the fair value of 5274?
Our model-based fair value for Aspeed Technology is 5,858 TWD (as of Sep 18, 2026), built from audited fundamentals. The current price: 19,820 TWD.
What is the quality score of 5274?
Aspeed Technology has a Quality Score of 82/100. 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 5,858 TWD (as of Sep 18, 2026) from 24 valuation models. Cautious scenario 3,338 TWD, optimistic scenario 10,855 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 5,858 TWD, about −70% upside versus a price of 19,820 TWD (overvalued). Cautious scenario 3,338 TWD, optimistic scenario 10,855 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 10.2B TWD (latest available figure, as of Sep 18, 2026).
Does Aspeed Technology pay a dividend?
Aspeed Technology currently shows a dividend yield of about 0.40% relative to its recent price (as of Sep 18, 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 +54.0 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +24.3 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of 5274 use?
Our models discount Aspeed Technology at 9.8 %: a base by market capitalisation (large), damped by beta 1.00, 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 +54.0 % per year a year over ten years, using the same discount rate (9.8 %) 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 +54.0 % 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 +8.0 % a year. That is the yardstick for the growth priced into Aspeed Technology (+54.0 % 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 0.55 %: that much free cash flow Aspeed Technology produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of 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 5,858 TWD per share (as of Sep 18, 2026), against a price of 19,820 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Aspeed Technology stock overvalued or undervalued in 2026?
As of Sep 18, 2026, 5274 trades above its calculated fair value: price 19,820 TWD, fair value 5,858 TWD, a gap of about −70% (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 (19,820 TWD); the fair value is what the company's own numbers justify (5,858 TWD). For Aspeed Technology the two are 13,962 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 749B TWD (market capitalisation, as of Sep 18, 2026). Per share that is 19,820 TWD; our models calculate a fair value of 5,858 TWD per share.
What do the bullish and bearish scenarios say about 5274?
Our models span a range for Aspeed Technology: cautious scenario 3,338 TWD, base 5,858 TWD, optimistic 10,855 TWD per share (as of Sep 18, 2026, price 19,820 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 209.4 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 5,858 TWD is built from several models across several years. Other multiples: P/S 50.7, EV/EBITDA 90.9.
How solid is the balance sheet of Aspeed Technology (5274)?
Balance-sheet figures for Aspeed Technology (as of Sep 18, 2026): return on equity 84.7%. They feed the Quality Score of 82/100, which measures business quality independently of the share price.
How far is 5274 from its 52-week high?
Aspeed Technology trades at 19,820 TWD, about 2% below its 52-week high of 19,510 TWD and 631% above the low of 2,712 TWD (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of 5,858 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, SK hynix 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 Sep 18, 2026: price 19,820 TWD, calculated fair value 5,858 TWD (−70%), Quality Score 82/100, from 24 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 24 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 5,858 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 16.1 % 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 Sep 21, 2026 was 19,820 TWD. Our model-based fair value is 5,858 TWD, about −70% upside (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 82/100), 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 (10,855 TWD). The favourable scenario is already priced in. The model range is unusually wide (3,338 TWD to 10,855 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra 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 749B TWD (≈ $23.7B). 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 90.5 (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 Aspeed Technology (5274)?
Earnings per share at Aspeed Technology are 94.64 TWD (price ÷ EPS = P/E 209.4). 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 0.4% (payout 84.5%). 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 Aspeed Technology (5274)?
The net margin of Aspeed Technology is 43.2% (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 Aspeed Technology (5274)?
The return on equity (ROE) of Aspeed Technology is 84.7% (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 52.7% (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 +52.4% 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 +59.7% 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.
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