First Hi-tec Enterprise Co Ltd (5439) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of First Hi-tec Enterprise Co Ltd stock TWD 357, price TWD 163, upside +119.3%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 32.87 TWD – 429.11 TWD · fair‑value band 265.05 TWD – 449.80 TWD · the 163.00 TWD price screens below the 357.43 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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First Hi-tec Enterprise Co., Ltd. engages in the manufacture and sale of printed circuit boards (PCBs) in Taiwan and rest of Asia.
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It also offers S/S, D/S, and M/L rigid PCBs; HDI with stacked through PCBs; and MCPCBs. The company's products are used in telecom/network, power control module, automotive, and semiconductor applications. The company was founded in 1988 and is based in Taoyuan City, Taiwan.
Stock analysis
First Hi-tec Enterprise Co Ltd (5439) currently trades at 163.00 TWD, while our model-based Fair Value estimate is 357.43 TWD, implying the stock looks roughly 54% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 381.48 TWD per share, and 9 of the 16 models we run sit above the 163.00 TWD price.
Bear case: the Economic Profit group reads lowest at 126.87 TWD, and 7 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: 265.05 TWD (bear) to 449.80 TWD (bull), the price of 163.00 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 59/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
First Hi-tec Enterprise Co Ltd reported revenue of 9.6B TWD in FY2025 versus 3.4B TWD in FY2021, a compound +30.0%/yr. Reported net income was 1.3B TWD in FY2025, compounding +33.1%/yr from FY2021.
Key figures
Market cap 15.2B TWD (≈ $464M) Small · P/E ratio 9.2 · P/S ratio 1.32 · EPS (TTM) 17.63 TWD · Dividend yield 4.4% · Net margin 14.6% · Return on equity 50.8% · Return on assets (EBIT) 12.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 71 out of 100 (low confidence).
What moves the price
The share trades about 62% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at 119%, 5439 screens cheaper than that median.
Fair Value models
Bear265.05 TWDFair Value 357.43 TWDBull449.80 TWD
Price 163.00 TWD · Upside +119.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (8.92 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+130.8%
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.
+44.1%
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.
+31.1%
Start year 2020 (pandemic). Over 10 years: +18.0% a year
Revenue growth 13 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.
+14.4%
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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.
+18.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.5%
Dividend (yield on the price)4.4%
Per share before 2012divided by the spin-off factor 1.03
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.32.5% vs 21.4%, 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.15% → 17%
2025 sits 248% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare First Hi-tec Enterprise Co Ltd with another stock
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.Electronic Components · 651 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+119.3% · Top 25%
Profitability
Return on equity (12 months)50.8% · Top 25%
Return on assets11.8% · Top 25%
Net margin (12 months)14.6% · Top 25%
Operating margin (12 months)16.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)33.4% · Top 25%
Dividend yield (12 months)4.4% · Top 25%
Balance sheet
Debt / equity0.63× · Highest 25%
Valuation Multiplesvs Electronic Components 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). "First Hi-tec Enterprise Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5439
Frequently asked questions
Is First Hi-tec Enterprise Co Ltd (5439) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 357.43 TWD versus a price of 163.00 TWD, about +119% upside (undervalued).
What is the fair value of 5439?
Our model-based fair value for First Hi-tec Enterprise Co Ltd is 357.43 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 163.00 TWD.
What is the quality score of 5439?
First Hi-tec Enterprise Co Ltd has a Quality Score of 59/100. 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 First Hi-tec Enterprise Co Ltd (5439)?
Our model-based price target is the fair value of 357.43 TWD (as of Nov 5, 2026) from 16 valuation models. Cautious scenario 265.05 TWD, optimistic scenario 449.80 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the First Hi-tec Enterprise Co Ltd stock forecast for 2026?
Our models put fair value at 357.43 TWD, about +119% upside versus a price of 163.00 TWD (undervalued). Cautious scenario 265.05 TWD, optimistic scenario 449.80 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of First Hi-tec Enterprise Co Ltd (5439)?
First Hi-tec Enterprise Co Ltd reported trailing-twelve-month revenue of about 11.5B TWD (latest available figure, as of Nov 5, 2026).
Does First Hi-tec Enterprise Co Ltd pay a dividend?
First Hi-tec Enterprise Co Ltd currently shows a dividend yield of 4.42% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of First Hi-tec Enterprise Co Ltd (5439) and when is the ex-dividend date?
First Hi-tec Enterprise Co Ltd pays a dividend of 7.20 TWD per share a year, a dividend yield of 4.4%. The last ex-dividend date was Jul 22, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 40.8% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of First Hi-tec Enterprise Co Ltd (5439)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For First Hi-tec Enterprise Co Ltd it is 357.43 TWD per share (as of Nov 5, 2026), against a price of 163.00 TWD. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is First Hi-tec Enterprise Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 5439 trades below its calculated fair value: price 163.00 TWD, fair value 357.43 TWD, a gap of about +119% (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 5439?
No. The price is what the market pays today (163.00 TWD); the fair value is what the company's own numbers justify (357.43 TWD). For First Hi-tec Enterprise Co Ltd the two are 194.43 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is First Hi-tec Enterprise Co Ltd worth?
The market values First Hi-tec Enterprise Co Ltd at about 15.2B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 163.00 TWD; our models calculate a fair value of 357.43 TWD per share.
What do the bullish and bearish scenarios say about 5439?
Our models span a range for First Hi-tec Enterprise Co Ltd: cautious scenario 265.05 TWD, base 357.43 TWD, optimistic 449.80 TWD per share (as of Nov 5, 2026, price 163.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5439?
First Hi-tec Enterprise Co Ltd trades at a price-to-earnings ratio of 9.2 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 357.43 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 14.4. Other multiples: P/B 3.9, P/S 1.3, EV/EBITDA 6.7.
How solid is the balance sheet of First Hi-tec Enterprise Co Ltd (5439)?
Balance-sheet figures for First Hi-tec Enterprise Co Ltd (as of Nov 5, 2026): return on equity 50.8%, debt of 0.63 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 5439 from its 52-week high?
First Hi-tec Enterprise Co Ltd trades at 163.00 TWD, about 62% below its 52-week high of 429.11 TWD and at the low of 163.00 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 357.43 TWD is for.
Which stocks are comparable to First Hi-tec Enterprise Co Ltd?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, 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 First Hi-tec Enterprise Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 163.00 TWD, calculated fair value 357.43 TWD (+119%), Quality Score 59/100, from 16 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 5439 calculated?
We run First Hi-tec Enterprise Co Ltd through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 357.43 TWD builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. First Hi-tec Enterprise Co Ltd currently trades 54% 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 First Hi-tec Enterprise Co Ltd (5439)?
The closing price on Nov 6, 2026 was 163.00 TWD. Our model-based fair value is 357.43 TWD, about +119% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with First Hi-tec Enterprise Co Ltd right now?
The price is below even our cautious bear case (265.05 TWD). The market is more pessimistic than our downside scenario. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of First Hi-tec Enterprise Co Ltd (5439) come from?
Earnings per share at First Hi-tec Enterprise Co Ltd grew +12.2 % a year from 2012 to 2023. Broken into its drivers: revenue per share +7.2 %, EBIT margin +5.6 %, tax rate +0.0 %, residual (interest, one-offs) −0.9 %. 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 First Hi-tec Enterprise Co Ltd
How large is the market capitalisation of First Hi-tec Enterprise Co Ltd (5439)?
The market capitalisation of First Hi-tec Enterprise Co Ltd is 15.2B TWD (≈ $464M). 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 First Hi-tec Enterprise Co Ltd (5439)?
The price-to-sales ratio of First Hi-tec Enterprise Co Ltd is 1.32 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of First Hi-tec Enterprise Co Ltd (5439)?
Earnings per share at First Hi-tec Enterprise Co Ltd are 17.63 TWD (price ÷ EPS = P/E 9.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of First Hi-tec Enterprise Co Ltd (5439)?
The dividend yield of First Hi-tec Enterprise Co Ltd is 4.4% (payout 40.8%). 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 First Hi-tec Enterprise Co Ltd (5439)?
The net margin of First Hi-tec Enterprise Co Ltd is 14.6% (last twelve months). 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 First Hi-tec Enterprise Co Ltd (5439)?
The return on equity (ROE) of First Hi-tec Enterprise Co Ltd is 50.8% (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 First Hi-tec Enterprise Co Ltd (5439)?
On an EBIT basis the return on assets of First Hi-tec Enterprise Co Ltd is 12.5% (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 First Hi-tec Enterprise Co Ltd (5439)?
The operating margin of First Hi-tec Enterprise Co Ltd is 16.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at First Hi-tec Enterprise Co Ltd (5439)?
Revenue at First Hi-tec Enterprise Co Ltd is growing +33.4% versus a year earlier (3y avg +44.1%). 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 First Hi-tec Enterprise Co Ltd (5439)?
Earnings per share at First Hi-tec Enterprise Co Ltd are growing +148% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does First Hi-tec Enterprise Co Ltd (5439) generate?
The free cash flow of First Hi-tec Enterprise Co Ltd is −1,000M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does First Hi-tec Enterprise Co Ltd (5439) carry?
The net debt of First Hi-tec Enterprise Co Ltd is 1.1B TWD (fiscal year 2025). 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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Broad data
Nov 5, 2026