First Hi-tec Enterprise Co Ltd (5439) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of First Hi-tec Enterprise Co Ltd TWD 357, price TWD 253, upside +41.3%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch First Hi-tec Enterprise Co Ltd for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
First Hi-tec Enterprise Co., Ltd. engages in the manufacture and sale of printed circuit boards (PCBs) in Taiwan and rest of Asia. 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.
Show more
First Hi-tec Enterprise Co., Ltd. engages in the manufacture and sale of printed circuit boards (PCBs) in Taiwan and rest of Asia. 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 253.00 TWD, while our model-based Fair Value estimate is 357.43 TWD, implying the stock looks roughly 29.2% undervalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of 381.48 TWD per share, and 5 of the 17 models we run sit above the 253.00 TWD price.
Bear case: the Economic Profit group reads lowest at 159.00 TWD, and 12 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: 265.05 TWD (bear) to 495.92 TWD (bull), the price of 253.00 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 55/100 (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 23.5B TWD (≈ $739M) · P/E ratio 18.8 · P/S ratio 2.49 · EPS (TTM) 13.47 TWD · Dividend yield 2.8% · Net margin 13.2% · Return on equity 41.3% · Return on assets (EBIT) 12.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 36% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −65% fair-value upside, at 41%, 5439 screens cheaper than that median.
Fair Value models
Bear 265.05 TWDFair Value 357.43 TWDBull 495.92 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 (4.59 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.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 16 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.
+13.0%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
+17.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.5%
Dividend (yield on the price)2.8%
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.33% vs 21%, 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.
Free, no sign-up
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 · 644 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+41% · Top 25%
Profitability
Return on equity (TTM)51% · Top 25%
Return on assets12% · Top 25%
Net margin (TTM)15% · Top 25%
Operating margin (TTM)17% · Top 25%
Growth and dividend
Revenue growth33% · Top 25%
Dividend yield (TTM)2.8% · 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 Sep 23, 2026, our model estimates a fair value of 357.43 TWD versus a price of 253.00 TWD, about +41% 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 Sep 23, 2026), built from audited fundamentals. The current price: 253.00 TWD.
What is the quality score of 5439?
First Hi-tec Enterprise Co Ltd has a Quality Score of 55/100. 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 Sep 23, 2026) from 17 valuation models. Cautious scenario 265.05 TWD, optimistic scenario 495.92 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 +41% upside versus a price of 253.00 TWD (undervalued). Cautious scenario 265.05 TWD, optimistic scenario 495.92 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 10.8B TWD (latest available figure, as of Sep 23, 2026).
Does First Hi-tec Enterprise Co Ltd pay a dividend?
First Hi-tec Enterprise Co Ltd currently shows a dividend yield of about 2.85% relative to its recent price (as of Sep 23, 2026).
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 Sep 23, 2026), against a price of 253.00 TWD. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is First Hi-tec Enterprise Co Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 5439 trades below its calculated fair value: price 253.00 TWD, fair value 357.43 TWD, a gap of about +41% (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 (253.00 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 104.43 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 23.5B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 253.00 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 495.92 TWD per share (as of Sep 23, 2026, price 253.00 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 18.8 (as of Sep 23, 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. Other multiples: P/B 6.0, P/S 2.0, EV/EBITDA 10.3.
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 Sep 23, 2026): return on equity 50.8%, debt of 0.63 per unit of equity. They feed the Quality Score of 55/100, 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 253.00 TWD, about 41% below its 52-week high of 429.11 TWD and 36% above the low of 185.50 TWD (as of Sep 23, 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, Delta Electronics, Inc, Corning Incorporated, Luxshare Precision Industry Co, 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 Sep 23, 2026: price 253.00 TWD, calculated fair value 357.43 TWD (+41%), Quality Score 55/100, from 17 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 17 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 357.43 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 14.1 % above its aggregate fair value. First Hi-tec Enterprise Co Ltd currently trades 41 % 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 Sep 23, 2026 was 253.00 TWD. Our model-based fair value is 357.43 TWD, about +41% 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 (55/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (265.05 TWD to 495.92 TWD) leaves room in how you read the outcome.
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 23.5B TWD (≈ $739M). 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 2.49 (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 First Hi-tec Enterprise Co Ltd (5439)?
Earnings per share at First Hi-tec Enterprise Co Ltd are 13.47 TWD (price ÷ EPS = P/E 18.8). 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 2.8% (payout 53.5%). 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 13.2% (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 First Hi-tec Enterprise Co Ltd (5439)?
The return on equity (ROE) of First Hi-tec Enterprise Co Ltd is 41.3% (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 14.5% (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 +78.2% 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 +55.4% 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.
Free · no account needed
Watch First Hi-tec Enterprise Co Ltd in the live analysis
One click puts First Hi-tec Enterprise Co Ltd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
