Leo Systems (5410) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Leo Systems TWD 45.65, price TWD 33.00, upside +38.3%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Leo Systems, Inc. engages in the sale of information hardware and software products, software planning and design, and computer hardware maintenance services in Taiwan.
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Leo Systems, Inc. engages in the sale of information hardware and software products, software planning and design, and computer hardware maintenance services in Taiwan. The company provides technology applications, such as AI, 5G, and AIoT applications; digital transformation services comprising system integration, cloud-based office tools, information security, access control and security management, information product sales, AI- one stop, maintenance services; smart enterprise, education, and manufacturing services. It also offers multimedia audio-visual integrated marketing solutions, global online and yahoo keyword advertising marketing, integrated marketing, and information services. In addition, the company provides investment business services; personal computer sales; electrical appliances and electronics; sub-materials retail and wholesale; and computer system design services. Further, it offers data centers, and computerization and automation in the financial industry, as well as value-added services, such as enterprise resource planning consulting, ICT consulting, and IT outsourcing services. Leo Systems, Inc. was incorporated in 1985 and is headquartered in Taipei, Taiwan.
Stock analysis
Leo Systems (5410) currently trades at 33.00 TWD, while our model-based Fair Value estimate is 45.65 TWD, implying the stock looks roughly 27.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 59.62 TWD per share, and 18 of the 26 models we run sit above the 33.00 TWD price.
Bear case: the Asset-Based group reads lowest at 11.33 TWD, and 8 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 31.96 TWD (bear) to 59.35 TWD (bull), the price of 33.00 TWD sits inside 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 69/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Leo Systems reported revenue of 4.4B TWD in FY2025 versus 3.6B TWD in FY2021, a compound +5.1%/yr. Reported net income was 215M TWD in FY2025, compounding +3.6%/yr from FY2021.
Key figures
Market cap 3.4B TWD (≈ $106M) · P/E ratio 14.3 · P/S ratio 0.70 · EPS (TTM) 2.31 TWD · Dividend yield 6.4% · Net margin 4.9% · Return on equity 18.2% · Return on assets (EBIT) 6.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −33% fair-value upside, at 38%, 5410 screens cheaper than that median.
Fair Value models
Bear 31.96 TWDFair Value 45.65 TWDBull 59.35 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 (0.1542 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+12.6%
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.
−12.9%
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.
+4.3%
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.
+5.7%
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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.
+9.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.5%
Dividend (yield on the price)6.4%
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.6% → 5%
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).
+1.1%
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 −0.5% 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.Computer Hardware · 220 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+39% · Top 25%
Profitability
Return on equity (TTM)18% · Top 25%
Return on assets6% · Above median
Net margin (TTM)6% · Above median
Operating margin (TTM)10% · Top 25%
Growth and dividend
Revenue growth21% · Above median
Dividend yield (TTM)6.4% · Top 25%
Valuation Multiplesvs Computer Hardware 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). "Leo Systems Fair Value". https://www.fairvalue-calculator.com/stock/5410
Frequently asked questions
Is Leo Systems (5410) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 45.65 TWD versus a price of 33.00 TWD, about +38% upside (undervalued).
What is the fair value of 5410?
Our model-based fair value for Leo Systems is 45.65 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 33.00 TWD.
What is the quality score of 5410?
Leo Systems has a Quality Score of 69/100. 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 Leo Systems (5410)?
Our model-based price target is the fair value of 45.65 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 31.96 TWD, optimistic scenario 59.35 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Leo Systems stock forecast for 2026?
Our models put fair value at 45.65 TWD, about +38% upside versus a price of 33.00 TWD (undervalued). Cautious scenario 31.96 TWD, optimistic scenario 59.35 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Leo Systems (5410)?
Leo Systems reported trailing-twelve-month revenue of about 4.7B TWD (latest available figure, as of Sep 24, 2026).
Does Leo Systems pay a dividend?
Leo Systems currently shows a dividend yield of about 6.36% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Leo Systems (5410)?
For today's price to be fair in a discounted-cash-flow model, Leo Systems would have to grow free cash flow by +1.1 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5410 use?
Our models discount Leo Systems at 11.8 %: a base by market capitalisation (micro), damped by beta 0.34, 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 Leo Systems that is +1.1 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Leo Systems (5410) delivered so far?
Over the past 5 years revenue at Leo Systems grew +4.3 % a year. The price currently implies +1.1 % 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 Leo Systems (5410) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Leo Systems (+1.1 % 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 Leo Systems (5410)?
The free-cash-flow yield on the price is 10.93 %: that much free cash flow Leo Systems produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Leo Systems (5410)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Leo Systems it is 45.65 TWD per share (as of Sep 24, 2026), against a price of 33.00 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Leo Systems stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5410 trades below its calculated fair value: price 33.00 TWD, fair value 45.65 TWD, a gap of about +38% (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 5410?
No. The price is what the market pays today (33.00 TWD); the fair value is what the company's own numbers justify (45.65 TWD). For Leo Systems the two are 12.65 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Leo Systems worth?
The market values Leo Systems at about 3.4B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 33.00 TWD; our models calculate a fair value of 45.65 TWD per share.
What do the bullish and bearish scenarios say about 5410?
Our models span a range for Leo Systems: cautious scenario 31.96 TWD, base 45.65 TWD, optimistic 59.35 TWD per share (as of Sep 24, 2026, price 33.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5410?
Leo Systems trades at a price-to-earnings ratio of 14.3 (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 45.65 TWD is built from several models across several years. Other multiples: P/B 2.2, P/S 0.7, EV/EBITDA 6.7.
How solid is the balance sheet of Leo Systems (5410)?
Balance-sheet figures for Leo Systems (as of Sep 24, 2026): return on equity 18.2%. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is 5410 from its 52-week high?
Leo Systems trades at 33.00 TWD, about 31% below its 52-week high of 48.00 TWD and 13% above the low of 29.25 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 45.65 TWD is for.
Which stocks are comparable to Leo Systems?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Western Digital Corporation, Wiwynn Corporation, 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 Leo Systems stock attractive at the current price?
The data as of Sep 24, 2026: price 33.00 TWD, calculated fair value 45.65 TWD (+38%), Quality Score 69/100, 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 5410 calculated?
We run Leo Systems 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 45.65 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. Leo Systems currently trades 38 % 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 Leo Systems (5410)?
The closing price on Sep 24, 2026 was 33.00 TWD. Our model-based fair value is 45.65 TWD, about +38% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Leo Systems right now?
Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (31.96 TWD to 59.35 TWD) leaves room in how you read the outcome.
Key figures of Leo Systems
How large is the market capitalisation of Leo Systems (5410)?
The market capitalisation of Leo Systems is 3.4B TWD (≈ $106M). 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 Leo Systems (5410)?
The price-to-sales ratio of Leo Systems is 0.70 (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 Leo Systems (5410)?
Earnings per share at Leo Systems are 2.31 TWD (price ÷ EPS = P/E 14.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Leo Systems (5410)?
The dividend yield of Leo Systems is 6.4% (payout 90.9%). 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 Leo Systems (5410)?
The net margin of Leo Systems is 4.9% (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 Leo Systems (5410)?
The return on equity (ROE) of Leo Systems is 18.2% (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 Leo Systems (5410)?
On an EBIT basis the return on assets of Leo Systems is 6.6% (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 Leo Systems (5410)?
The operating margin of Leo Systems is 10.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Leo Systems (5410)?
Revenue at Leo Systems is growing +21.1% versus a year earlier (3y avg −12.9%). 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 Leo Systems (5410)?
Earnings per share at Leo Systems are growing +126% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Leo Systems (5410) carry?
The net debt of Leo Systems is 962M TWD (fiscal year 2024, ≈ 2.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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