HannStar Board Corporation (5469) Fair Value & Analysis
Technology · TW · Market cap 34.3B TWD
Fair value as of: Jul 21, 2026
From 26 valuation models · updated 20 days ago
Share price −11.8% over the past month.
Below-average quality, screening 43% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (76.70 TWD). The market is more pessimistic than our downside scenario.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.
How to read this chart
60‑month range 28.47 TWD – 111.50 TWD · fair‑value band 76.70 TWD – 127.84 TWD · the 71.40 TWD price screens below the 102.27 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
HannStar Board Corporation (5469) currently trades at 71.40 TWD, while our model-based Fair Value estimate is 102.27 TWD, implying the stock looks roughly 43.2% undervalued today. The Quality Score stands at 38/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, HannStar Board Corporation generated revenue of 62.4B TWD at a net margin of 4.5%. Revenue grew 48.5% year over year. It earns a return on equity of 8.8%. Net debt stands at 12.6B TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 76.70 TWD (bear case) to 127.84 TWD (bull case); at 71.40 TWD, the current price sits below 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 about 38% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 43%, 5469 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 (171.21 TWD) versus Dividend Discount (38.10 TWD). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 40 · Market factors (momentum, volatility) 37
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
HannStar Board Corporation manufactures, assembles, and sells printed circuit boards (PCBs) in Taiwan. The company provides double-sided, multi-layer, thick copper, high-density interconnect, and SLC multi-layer PCB products.
Full company description
HannStar Board Corporation manufactures, assembles, and sells printed circuit boards (PCBs) in Taiwan. The company provides double-sided, multi-layer, thick copper, high-density interconnect, and SLC multi-layer PCB products. Its products are used in games, televisions, liquid crystal displays, personal computers, networking and automotive products, set up boxes, servers, and other applications. In addition, the company engages in general investment; solar power generation; sale of electronic components, real estate investment and leasing; enterprise real estate management; rents mechanical device and electronic components manufacture service; electronic spare part manufacturing; and electronic fitting research and development and sale. The company was formerly known as Pacific Science and Technology Industrial Co., Ltd. and changed its name to HannStar Board Corporation in December 1998. HannStar Board Corporation was incorporated in 1989 and is based in Taoyuan City, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
HannStar Board Corporation reported revenue of 57.2B TWD in FY2025 versus 57.0B TWD in FY2021, a compound +0.1%/yr. Reported net income was 2.9B TWD in FY2025, compounding −16.0%/yr from FY2021.
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Peer Group
Electronic Components · 626 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 Electronic Components 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.
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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Delta Electronics, Inc 2308 | 1,880 TWD | 515.23 TWD | -73% |
| Hon Hai Precision Industry Co 2317 | 242.50 TWD | 270.47 TWD | +12% |
| Luxshare Precision Industry Co 002475 | ¥62.14 | ¥38.44 | -38% |
| Samsung Electro-Mechanics Co 009150 | 1,260,000 KRW | 166,421 KRW | -87% |
| Elite Material Co 2383 | 4,990 TWD | 714.36 TWD | -86% |
| Yageo Corporation 2327 | 699.00 TWD | 216.55 TWD | -69% |
| Shengyi Technology Co 600183 | ¥132.29 | ¥27.45 | -79% |
| Shennan Circuits Co 002916 | ¥364.00 | ¥93.50 | -74% |
| Victory Giant Technology (HuiZhou) Co 2476 | HK$297.00 | HK$103.98 | -65% |
| Wus Printed Circuit (Kunshan) Co 002463 | ¥127.80 | ¥31.95 | -75% |
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Frequently asked questions
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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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