Baotek Industrial Materials Ltd (5340) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 16.5B TWD (≈ $522M) · ISIN TW0005340004

What is Baotek Industrial Materials Ltd really worth?

BI Baotek Industrial Materials Ltd 5340 · TWO

Price79.20 TWD

Fair Value23.17 TWD

Upside−70.7%

Quality66/100

A solid business, but trading 242% above our fair value of 23.17 TWD.

As of Aug 29, 2026, the fair value of Baotek Industrial Materials Ltd is 23.17 TWD per share against a price of 79.20 TWD, so the fair value sits 71% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Healthy Growth (revenue 5y +9.5 %/yr)

✓Solidly profitable · 14.1% net margin

✓Low debt · generates free cash flow

Risks

!Mixed vs. peers (7/14)

!Moderate moat 57/100

!Weak on dividend: 15 out of 100

For context

·0.76% dividend yield

Evidence: High Range 15.22 TWD – 32.78 TWD

Fair value as of: Aug 29, 2026

From 26 valuation models · updated 8 days ago

Fair value updated Aug 29, 2026, revised from 24.18 TWD to 23.17 TWD (−4.2%) since Aug 13, 2026. Share price +4.6% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

The price sits above even our optimistic bull case (32.78 TWD). The favourable scenario is already priced in.
Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
A fairly wide model range (15.22 TWD to 32.78 TWD) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range 22.50 TWD – 134.00 TWD · fair‑value band 15.22 TWD – 32.78 TWD · the 79.20 TWD price screens above the 23.17 TWD fair value. Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Baotek Industrial Materials Ltd (5340) currently trades at 79.20 TWD, while our model-based Fair Value estimate is 23.17 TWD, implying the stock looks roughly 241.8% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of 23.21 TWD per share, and 0 of the 26 models we run sit above the 79.20 TWD price. Bear case: the Dividend Discount group reads lowest at 3.05 TWD, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Baotek Industrial Materials Ltd generated revenue of 2.4B TWD at a net margin of 11.3%. Revenue grew 22.2% year over year. It earns a return on equity of 12.3%. The balance sheet holds a net cash position of 121M TWD. Fundamentals as of Aug 29, 2026

Our scenario range runs from 15.22 TWD (bear case) to 32.78 TWD (bull case); at 79.20 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 42% below its 52-week high and 99% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −36% fair-value upside, at −71%, 5340 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.4025 TWD per share, which is 1.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (3.05 TWD to 30.38 TWD). Read the values as a conservative anchor, not as a price target.

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

FCF DCF 14.04 TWD 20.80 TWD 31.16 TWD 80

Growth DCF 14.24 TWD 20.21 TWD 28.80 TWD 79

Owner Earnings 12.74 TWD 18.77 TWD 28.00 TWD 76

All 26 models by family

DCF Models

FCF DCF 14.04 TWD 20.80 TWD 31.16 TWD 80

Owner Earnings 12.74 TWD 18.77 TWD 28.00 TWD 76

5Y Revenue Exit 12.31 TWD 18.16 TWD 25.59 TWD 73

5Y EBITDA Exit 18.07 TWD 28.97 TWD 41.74 TWD 75

5Y P/E Exit 17.63 TWD 28.14 TWD 39.20 TWD 70

10Y Revenue Exit 12.52 TWD 18.02 TWD 25.34 TWD 67

10Y EBITDA Exit 16.50 TWD 25.54 TWD 37.69 TWD 68

10Y P/E Exit 16.21 TWD 24.96 TWD 35.75 TWD 64

Earnings-Based

Graham-Dodd 8.11 TWD 25.53 TWD 33.99 TWD 64

Lynch FV 5.59 TWD 7.99 TWD 10.38 TWD 61

PEG = 1.0 5.59 TWD 7.99 TWD 10.38 TWD 57

EPV 15.53 TWD 17.78 TWD 19.75 TWD 74

Dividend Discount

Gordon GGM 1.84 TWD 3.82 TWD 6.06 TWD 66

DDM Multi-Stage 1.84 TWD 3.05 TWD 4.01 TWD 66

Multiples

P/E Multiple 19.67 TWD 26.23 TWD 32.78 TWD 63

P/S Multiple 10.52 TWD 14.03 TWD 17.53 TWD 58

P/B Multiple 15.20 TWD 20.27 TWD 25.33 TWD 55

EV/EBIT 23.29 TWD 30.38 TWD 37.48 TWD 66

EV/EBITDA 22.46 TWD 29.27 TWD 36.08 TWD 67

EV/Revenue 11.84 TWD 16.04 TWD 20.25 TWD 54

Asset-Based

NCAV (Graham) 5.89 TWD 7.89 TWD 11.77 TWD 54

Growth DCF

Growth DCF 14.24 TWD 20.21 TWD 28.80 TWD 79

Rev-Margin DCF 12.31 TWD 18.21 TWD 25.03 TWD 73

Economic Profit

Residual Income 10.36 TWD 11.57 TWD 19.41 TWD 74

ROIC Compounder 16.32 TWD 20.27 TWD 25.09 TWD 72

Growth Earnings

Growth-Adj P/E 16.25 TWD 23.21 TWD 30.18 TWD 67

Widest divergence: Growth Earnings (23.21 TWD) versus Dividend Discount (3.05 TWD). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 43.5

P/S ratio 4.44 P/E × margin

EPS (TTM) 1.82 TWD price ÷ EPS = P/E 43.5

Dividend yield 0.8% payout 33.0%

Net margin 10.2% FY2025

Return on equity 15.8% TTM

More key figures

Profitability

Return on assets (EBIT) 5.2% avg 5y

Operating margin 18.4% TTM

Growth

Revenue (TTM) 2.5B TWD TTM

Revenue growth (YoY) +20.0% 3y avg +19.5%

EPS growth (YoY) +408%

Balance sheet & cash flow

Free cash flow 206M TWD FY2025

Net cash 121M TWD FY2023

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 65 · Market factors (momentum, volatility) 41

Profitability 46

Margins and returns on capital today

Quality Growth 59

Are margins and returns improving?

Cashflow 55

Earnings quality: real cash, not paper profit

Fin. Strength 89

Balance sheet, leverage, solvency risk

Investment 62

Disciplined investing over empire-building

Low Volatility 26

Calm price path (market factor)

Momentum 37

Price trend over the last 3–12 months (market factor)

52W Momentum 64

Distance to the 52-week high (market factor)

Net Issuance 82

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Baotek Industrial Materials Ltd. manufactures and sells fiberglass fabrics for copper clad laminates of various electronic applications.

Full company description

Baotek Industrial Materials Ltd. manufactures and sells fiberglass fabrics for copper clad laminates of various electronic applications. It provides industrial glass fiber products comprising aerospace fiberglass fabric, a reinforcement material for airplanes' internal structure; high temperature filter bag used in power and steel plants, incinerators, and cement factories; fiberglass sunshades for use in buildings, interior designs, construction, and furniture; and PTFE fabrics for use in PTFE coating areas. The company also offers electronic fiberglass fabrics for copper clad laminates of various electronic applications, such as high spread, high Tg, anti-CAF, and low Dk, etc. Baotek Industrial Materials Ltd. was incorporated in 1992 and is based in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Baotek Industrial Materials Ltd reported revenue of 2.3B TWD in FY2025 versus 1.4B TWD in FY2021, a compound +12.9%/yr. Reported net income was 232M TWD in FY2025, compounding +44.7%/yr from FY2021.

Growth Quality 90/100

Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Latest Revenue (FY 2025)

2.3B TWD

Latest YoY

+15.7%

Avg. revenue 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.

+19.5%

Avg. revenue 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.

+9.5%

Avg. revenue 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.

+4.9%

Value creation/yr (5Y, in TWD) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.

≈ +20.2% (approximate, leans on 2025) · in TWD

Earnings growth per share plus dividend yield: the value created per share and year.

Earnings growth per share+19.4%

Dividend yield0.8%

Operating margin (EBIT) ⓘ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.5.2% (2020) → 13.5% (2025) · rising

Worst earnings drop76% (2023) · in TWD

⚠ Rate leans on 2025: that final year sits 176% above its own trend (e.g. a one-off disposal gain) and could not be adjusted

Revenue +12.9%/yr

FY21 1.4B TWD

FY22 1.3B TWD

FY23 1.2B TWD

FY24 2.0B TWD

FY25 2.3B TWD

Net income +44.7%/yr

FY21 52.9M TWD

FY22 84.3M TWD

FY23 24.9M TWD

FY24 151M TWD

FY25 232M TWD

5340 screens 242% overvalued. Compare with Shenzhou International Group →

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Baotek Industrial Materials Ltd · Fair Value
23.17 TWD −242%Fair Value
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<a href="https://www.fairvalue-calculator.com/stock/5340.TWO" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Baotek Industrial Materials Ltd · Fair Value</span><br><b style="font-size:20px">23.17 TWD</b> <span style="color:#e0816f;font-weight:700;font-size:14px">−242%</span></span><span style="font-size:11px;color:#7BB290;font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Baotek Industrial Materials Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5340.TWO

Peer Group

Textile Manufacturing · 331 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 66 · Top 25%

Fair Value upside −71% · Bottom 25%

Return on equity (TTM) 16% · Top 25%

Return on assets 9% · Top 25%

Net margin (TTM) 14% · Top 25%

Operating margin (TTM) 18% · Top 25%

Revenue growth 20% · Top 25%

Dividend yield (TTM) 0.8% · Below median

Valuation Multiples vs Textile Manufacturing median · lower = cheaper

P/E (TTM) 43.5× · Pricier than median

P/B 7.20× · Pricier than 75% of peers

P/S (TTM) 6.59× · Pricier than 75% of peers

P/FCF 2.5× · Pricier than 75% of peers

EV/EBITDA 29.3× · Pricier than 75% of peers

Strength profile in five axes (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.

This stock

Sector peers

VALUE0 · sector 4

FUTURE100 · sector 0

PAST63 · sector 15

HEALTH100 · sector 95

DIVIDEND15 · sector 33

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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

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10 more Textile Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

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Inner Mongolia ERDOS Resources Co 600295	¥12.95	¥14.35	+11%
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Zhejiang Orient Holdings 600120	¥4.89	¥2.21	−55%
Vardhman Textiles Limited VTL	₹592.75	₹437.53	−26%
Albany International Corp AIN	$59.92	$18.40	−69%
Isiklar Enerji ve Yapi Holding IEYHO	174.20 TRY	324.31 TRY	+86%
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Frequently asked questions

Is Baotek Industrial Materials Ltd (5340) overvalued or undervalued?

As of Aug 29, 2026, our model estimates a fair value of 23.17 TWD versus a price of 79.20 TWD, about −71% upside (overvalued).

What is the fair value of 5340?

Our model-based fair value for Baotek Industrial Materials Ltd is 23.17 TWD (as of Aug 29, 2026), built from audited fundamentals. The current price: 79.20 TWD.

What is the quality score of 5340?

Baotek Industrial Materials Ltd has a Quality Score of 66/100. 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 Baotek Industrial Materials Ltd (5340)?

Our model-based price target is the fair value of 23.17 TWD (as of Aug 29, 2026) from 26 valuation models. Cautious scenario 15.22 TWD, optimistic scenario 32.78 TWD. It is a calculation from audited fundamentals, not an analyst target.

What is the Baotek Industrial Materials Ltd stock forecast for 2026?

Our models put fair value at 23.17 TWD, about −71% upside versus a price of 79.20 TWD (overvalued). Cautious scenario 15.22 TWD, optimistic scenario 32.78 TWD. The calculation is refreshed regularly with new filings.

What is the revenue of Baotek Industrial Materials Ltd (5340)?

Baotek Industrial Materials Ltd reported trailing-twelve-month revenue of about 2.4B TWD (latest available figure, as of Aug 29, 2026).

What is the net profit margin of 5340?

The net profit margin of Baotek Industrial Materials Ltd is about 11.3%, meaning it keeps roughly 11.3% of revenue as net income. Based on the latest reported figures.

Does Baotek Industrial Materials Ltd pay a dividend?

Baotek Industrial Materials Ltd currently shows a dividend yield of about 0.76% relative to its recent price (as of Aug 29, 2026).

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