Topco Scientific Co (5434) Fair Value & Analysis
Technology · TW · Market cap 108B TWD
Fair value as of: Jul 23, 2026
From 26 valuation models · updated 17 days ago
Share price +0.5% over the past month.
A solid business, but screening 26% overvalued on our models.
What matters now
- Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (275.23 TWD to 556.41 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 Jul 23, 2026.
How to read this chart
60‑month range 89.84 TWD – 596.00 TWD · fair‑value band 275.23 TWD – 556.41 TWD · the 499.00 TWD price screens above the 366.97 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Topco Scientific Co (5434) currently trades at 499.00 TWD, while our model-based Fair Value estimate is 366.97 TWD, implying the stock looks roughly 26.5% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Topco Scientific Co generated revenue of 70.4B TWD at a net margin of 6.5%. Revenue grew 17.6% year over year. It earns a return on equity of 25.3%. The balance sheet holds a net cash position of 2.8B TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 275.23 TWD (bear case) to 556.41 TWD (bull case); at 499.00 TWD, the current price sits within 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 near its 52-week high and 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -33% fair-value upside, at -26%, 5434 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 26 models by family
Widest divergence: DCF Models (463.35 TWD) versus Asset-Based (69.19 TWD). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 80
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.
About the company
Topco Scientific Co.,Ltd. provides precision materials, manufacturing equipment, and components worldwide. The company offers quartz wafer carrier plates, such as synthetic quartz wafer and quartz substrate; furnace quartz, and quartz crucible for single crystal and polycrystalline; and chemicals, such as CMP, photoresist, and specialty gases, and chemicals.
Full company description
Topco Scientific Co.,Ltd. provides precision materials, manufacturing equipment, and components worldwide. The company offers quartz wafer carrier plates, such as synthetic quartz wafer and quartz substrate; furnace quartz, and quartz crucible for single crystal and polycrystalline; and chemicals, such as CMP, photoresist, and specialty gases, and chemicals. It also provides wafers, wafer carriers, and wafer related supplies; photomask and mask carriers; electronic materials, such as protective, packaging, thermal conductive, conductive, and special application materials; SiC and GaN epi wafers and substrates, and Sic reclaim wafers; power device electrical analysis instruments; and IC foundry services. In addition, the company offers turbo compressors and blowers, metal additive manufacturing equipment, atmospheric pressure plasma, horizontal and vertical tube cleaner, high pressure clean system, fire extinguishing systems, and organic solvent dehydration and recycling system, as well as LCD related equipment and services. Further, the company engages in wholesale sale of chemicals; provision of sports training services; wholesale of semiconductor materials, optoelectronic components, and electronic products; wholesale and retail of aquatic products; trading of food; project business development of renewable energy; piping engineering and electrical installation; solar system engineering activities; antifouling treatment agents and light blocking materials; sale of renewable electricity; operation of supermarkets; restaurant management; vacuum pump equipment waste removal maintenance; planning, evaluation of environmental-related projects; international trading; sale and design of integrated circuits; and waste water and clean room environmental engineering activities. It serves semiconductors, package and testing, semiconductor equipment, electronics, LCD, LED, and solar industries. The company was incorporated in 1990 and is headquartered in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Topco Scientific Co reported revenue of 67.6B TWD in FY2025 versus 42.7B TWD in FY2021, a compound +12.2%/yr. Reported net income was 4.2B TWD in FY2025, compounding +16.2%/yr from FY2021.
5434 screens 26% overvalued. Compare with TD SYNNEX Corporation →
Peer Group
Electronics & Computer Distribution · 151 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.
Valuation Multiples vs Electronics & Computer Distribution median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Electronics & Computer Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| TD SYNNEX Corporation SNX | $251.52 | $207.02 | -18% |
| Unisplendour Corporation 000938 | ¥38.59 | ¥11.79 | -69% |
| Rexel S.A RXL | €38.59 | €33.31 | -14% |
| Arrow Electronics, Inc ARW | $204.10 | $115.40 | -43% |
| Avnet, Inc AVT | $87.13 | $58.57 | -33% |
| WPG Holdings 3702 | 106.50 TWD | 102.31 TWD | -4% |
| Shenzhen Huaqiang Industry Co 000062 | ¥22.37 | ¥7.52 | -66% |
| Synnex Technology International Corporation 2347 | 85.30 TWD | 86.30 TWD | +1% |
| Nanjing Sunlord Electronics Corporation 300975 | ¥37.37 | ¥8.60 | -77% |
| Beijing Tricolor Technology Co 603516 | ¥106.52 | ¥23.39 | -78% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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