Dimerco Data System (5403) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Dimerco Data System TWD 166, price TWD 93.00, upside +78.4%, quality 75 out of 100. Calculated from audited financials with 26 valuation models and 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 24, 2026.
How to read this chart
60‑month range 46.34 TWD – 145.00 TWD · fair‑value band 110.28 TWD – 218.03 TWD · the 93.00 TWD price screens below the 165.90 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Dimerco Data System Corporation, together with its subsidiaries, engages in the design, development, and sale of various software products in Taiwan. It operates in three segments: Hardware Department, Software Department, and Other Department.
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Dimerco Data System Corporation, together with its subsidiaries, engages in the design, development, and sale of various software products in Taiwan. It operates in three segments: Hardware Department, Software Department, and Other Department. The company is also involved in the sale of computer hardware equipment; and provision of computer data processing, information consulting, and leasing services. The company was founded in 1981 and is headquartered in Taipei, Taiwan.
Stock analysis
Dimerco Data System (5403) currently trades at 93.00 TWD, while our model-based Fair Value estimate is 165.90 TWD, implying the stock looks roughly 43.9% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 167.72 TWD per share, and 18 of the 24 models we run sit above the 93.00 TWD price.
Bear case: the Asset-Based group reads lowest at 24.10 TWD, and 6 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 110.28 TWD (bear) to 218.03 TWD (bull), the price of 93.00 TWD sits below 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 75/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Dimerco Data System reported revenue of 3.4B TWD in FY2025 versus 2.3B TWD in FY2021, a compound +10.7%/yr. Reported net income was 632M TWD in FY2025, compounding +11.8%/yr from FY2021.
Key figures
Market cap 7.3B TWD (≈ $228M) · P/E ratio 11.2 · P/S ratio 2.08 · EPS (TTM) 8.31 TWD · Net margin 18.6% · Return on equity 25.4% · Return on assets (EBIT) 13.3% · Operating margin 17.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −13% fair-value upside, at 78%, 5403 screens cheaper than that median.
Fair Value models
Bear 110.28 TWDFair Value 165.90 TWDBull 218.03 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 (6.10 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.86/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.9%
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.
+11.1%
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.
+7.8%
Start year 2020 (pandemic)
Revenue growth 8 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.
+10.3%
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What shareholders gained per year (last 5 years), in TWD ⓘ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. 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.
+12.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.7%
Dividend (yield on the price)0.0%
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.18% → 23%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−0.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −1.7% a year for the price.
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.Software - Application · 720 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score75 · Top 25%
Fair Value upside+78% · Top 25%
Profitability
Return on equity (TTM)25% · Top 25%
Return on assets9% · Top 25%
Net margin (TTM)18% · Top 25%
Operating margin (TTM)17% · Top 25%
Growth and dividend
Revenue growth−9% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Software - Application 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). "Dimerco Data System Fair Value". https://www.fairvalue-calculator.com/stock/5403
Frequently asked questions
Is Dimerco Data System (5403) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 165.90 TWD versus a price of 93.00 TWD, about +78% upside (undervalued).
What is the fair value of 5403?
Our model-based fair value for Dimerco Data System is 165.90 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 93.00 TWD.
What is the quality score of 5403?
Dimerco Data System has a Quality Score of 75/100. 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 Dimerco Data System (5403)?
Our model-based price target is the fair value of 165.90 TWD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 110.28 TWD, optimistic scenario 218.03 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Dimerco Data System stock forecast for 2026?
Our models put fair value at 165.90 TWD, about +78% upside versus a price of 93.00 TWD (undervalued). Cautious scenario 110.28 TWD, optimistic scenario 218.03 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Dimerco Data System (5403)?
Dimerco Data System reported trailing-twelve-month revenue of about 3.3B TWD (latest available figure, as of Sep 24, 2026).
What growth is priced into Dimerco Data System (5403)?
For today's price to be fair in a discounted-cash-flow model, Dimerco Data System would have to grow free cash flow by -0.2 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5403 use?
Our models discount Dimerco Data System at 13.3 %: a base by market capitalisation (micro), 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 Dimerco Data System that is -0.2 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Dimerco Data System (5403) delivered so far?
Over the past 5 years revenue at Dimerco Data System grew +7.8 % a year. The price currently implies -0.2 % 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 Dimerco Data System (5403) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Dimerco Data System (-0.2 % 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 Dimerco Data System (5403)?
The free-cash-flow yield on the price is 10.21 %: that much free cash flow Dimerco Data System produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dimerco Data System (5403)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dimerco Data System it is 165.90 TWD per share (as of Sep 24, 2026), against a price of 93.00 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Dimerco Data System stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5403 trades below its calculated fair value: price 93.00 TWD, fair value 165.90 TWD, a gap of about +78% (undervalued). 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 5403?
No. The price is what the market pays today (93.00 TWD); the fair value is what the company's own numbers justify (165.90 TWD). For Dimerco Data System the two are 72.90 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Dimerco Data System worth?
The market values Dimerco Data System at about 7.3B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 93.00 TWD; our models calculate a fair value of 165.90 TWD per share.
What do the bullish and bearish scenarios say about 5403?
Our models span a range for Dimerco Data System: cautious scenario 110.28 TWD, base 165.90 TWD, optimistic 218.03 TWD per share (as of Sep 24, 2026, price 93.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5403?
Dimerco Data System trades at a price-to-earnings ratio of 11.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 165.90 TWD is built from several models across several years. Other multiples: P/B 2.6, P/S 2.2, EV/EBITDA 7.7.
How solid is the balance sheet of Dimerco Data System (5403)?
Balance-sheet figures for Dimerco Data System (as of Sep 24, 2026): return on equity 25.4%. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is 5403 from its 52-week high?
Dimerco Data System trades at 93.00 TWD, about 25% below its 52-week high of 124.50 TWD and 10% above the low of 84.50 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 165.90 TWD is for.
Which stocks are comparable to Dimerco Data System?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, 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 Dimerco Data System stock attractive at the current price?
The data as of Sep 24, 2026: price 93.00 TWD, calculated fair value 165.90 TWD (+78%), Quality Score 75/100, 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 5403 calculated?
We run Dimerco Data System 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 165.90 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 13.2 % above its aggregate fair value. Dimerco Data System currently trades 78 % below its own fair value, and the market average says nothing about that. 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 Dimerco Data System (5403)?
The closing price on Sep 24, 2026 was 93.00 TWD. Our model-based fair value is 165.90 TWD, about +78% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dimerco Data System right now?
The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (110.28 TWD). The market is more pessimistic than our downside scenario. A fairly wide model range (110.28 TWD to 218.03 TWD) leaves room in how you read the outcome.
Key figures of Dimerco Data System
How large is the market capitalisation of Dimerco Data System (5403)?
The market capitalisation of Dimerco Data System is 7.3B TWD (≈ $228M). 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 Dimerco Data System (5403)?
The price-to-sales ratio of Dimerco Data System is 2.08 (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 Dimerco Data System (5403)?
Earnings per share at Dimerco Data System are 8.31 TWD (price ÷ EPS = P/E 11.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Dimerco Data System (5403)?
The net margin of Dimerco Data System is 18.6% (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 Dimerco Data System (5403)?
The return on equity (ROE) of Dimerco Data System is 25.4% (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 Dimerco Data System (5403)?
On an EBIT basis the return on assets of Dimerco Data System is 13.3% (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 Dimerco Data System (5403)?
The operating margin of Dimerco Data System is 17.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dimerco Data System (5403)?
Revenue at Dimerco Data System is growing −9.2% versus a year earlier (3y avg +11.1%). 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 Dimerco Data System (5403)?
Earnings per share at Dimerco Data System are growing −25.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Dimerco Data System (5403) hold?
Dimerco Data System holds more cash than debt, 1.1B TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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