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China Wafer Level CSP Co (603005) Fair Value & Analysis

Technology · CN · Market cap 22.0B CNY

CW China Wafer Level CSP Co 603005 · SHG
Price¥33.79
Fair Value¥11.33
Upside-66.5%
Quality67/100
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Expensive Growth
Highly profitable · 24.4% net margin
Low debt · negative free cash flow
0.37% dividend yield
Mixed vs. peers (7/13)
Moderate moat 62/100
Evidence: High Range ¥8.50 – ¥14.17 Share as image

Fair value as of: Aug 10, 2026

From 16 valuation models · updated today

Share price −17.7% over the past month.

A solid business, but screening 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥14.17). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥53.87 ¥13.60 Fair Value ¥11.33 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 10, 2026.

How to read this chart

60‑month range ¥13.60 – ¥53.87 · fair‑value band ¥8.50 – ¥14.17 · the ¥33.79 price screens above the ¥11.33 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

China Wafer Level CSP Co (603005) currently trades at ¥33.79, while our model-based Fair Value estimate is ¥11.33, implying the stock looks roughly 66.5% overvalued today. The Quality Score stands at 67/100 (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, China Wafer Level CSP Co generated revenue of 1.5B CNY at a net margin of 24.4%. Revenue grew 14.9% year over year. It earns a return on equity of 8.2%. The balance sheet holds a net cash position of 1.6B CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥8.50 (bear case) to ¥14.17 (bull case); at ¥33.79, the current price sits above 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 30% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -66%, 603005 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥5.87 ¥6.29 ¥7.27 76
ROIC Compounder ¥8.89 ¥11.76 ¥14.29 72
Gordon GGM ¥0.8600 ¥1.79 ¥2.84 70
All 16 models by family
Earnings-Based
Graham-Dodd ¥3.85 ¥23.35 ¥32.56 54
Lynch FV ¥6.67 ¥9.53 ¥12.39 50
PEG = 1.0 ¥6.67 ¥9.53 ¥12.39 46
EPV ¥8.16 ¥9.06 ¥9.84 59
Dividend Discount
Gordon GGM ¥0.8600 ¥1.79 ¥2.84 70
DDM Multi-Stage ¥0.8600 ¥1.51 ¥1.88 61
Multiples
P/E Multiple ¥8.50 ¥11.33 ¥14.17 63
P/S Multiple ¥4.24 ¥5.65 ¥7.06 58
P/B Multiple ¥7.23 ¥9.63 ¥12.04 55
EV/EBIT ¥11.42 ¥14.31 ¥17.20 53
EV/EBITDA ¥11.07 ¥13.84 ¥16.61 54
EV/Revenue ¥6.72 ¥8.41 ¥10.11 43
Asset-Based
NCAV (Graham) ¥3.53 ¥4.73 ¥7.07 50
Economic Profit
Residual Income ¥5.87 ¥6.29 ¥7.27 76
ROIC Compounder ¥8.89 ¥11.76 ¥14.29 72
Growth Earnings
Growth-Adj P/E ¥9.45 ¥13.49 ¥17.54 68

Widest divergence: Growth Earnings (¥13.49) versus Dividend Discount (¥1.51). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.5B CNY
Revenue growth (YoY) +14.9%
Net margin 24.4%
Return on equity 8.2%
Free cash flow −68.5M CNY FY2025
P/E ratio 72.0
More key figures
Operating margin 25.7%
EPS (TTM) ¥0.5700
Dividend yield 0.4%
Net cash 1.6B CNY FY2025

Figures from reported company fundamentals · as of Aug 10, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 65 · Market factors (momentum, volatility) 49

Profitability 45
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

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

China Wafer Level CSP Co., Ltd., together with its subsidiaries, creates, develops, manufactures, and sells semiconductor, interconnect, and imaging technologies in China and internationally.

Full company description

China Wafer Level CSP Co., Ltd., together with its subsidiaries, creates, develops, manufactures, and sells semiconductor, interconnect, and imaging technologies in China and internationally. The company offers image sensor, biometric identification, and ambient light sensor chips; medical electronic devices; and manufacturing services of TSV and 3DIC technology. It also provides design, test, and logistics solutions, including design chain management; design for manufacturing; design for cost; full design and verification of WL, lead frame, laminate, etc.; electrical, thermal, and mechanical characterization; and quick turn prototype services, as well as packaging and testing services. In addition, the company offers assembly services, such as turnkey solutions for TSV, wire bond, and flip chip; high-volume manufacturing; wafer finishing and 2/3D assembly; wafer to wafer and die to wafer bonding; micro-joining; integrated and SMT passives, as well as FA and reliability testing services comprising package and board level, bump reliability, underfill/EMC adhesion, drop and bend tests, solder joint reliability prediction, materials lab, and failure analysis. Further, it engages in research and development; patent management; field application promotion; investment management; and technology development activities. It exports its products. The company serves mobile handset manufacturers and semiconductor chip design houses. China Wafer Level CSP Co., Ltd. was founded in 2005 and is headquartered in Suzhou, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Wafer Level CSP Co reported revenue of ¥1.5B in FY2025 versus ¥1.4B in FY2021, a compound +1.1%/yr. Reported net income was ¥370M in FY2025, compounding −10.5%/yr from FY2021.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.5B CNY
Latest YoY
+30.4%
Avg. growth/yr (3Y)
+10.0%
Avg. growth/yr (5Y)
+6.0%
Avg. growth/yr (16Y)
+15.9%
Revenue +1.1%/yr
FY21 ¥1.4B
FY22 ¥1.1B
FY23 ¥913M
FY24 ¥1.1B
FY25 ¥1.5B
Net income −10.5%/yr
FY21 ¥576M
FY22 ¥228M
FY23 ¥150M
FY24 ¥253M
FY25 ¥370M

603005 screens 66% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "China Wafer Level CSP Co Fair Value". https://www.fairvalue-calculator.com/stock/603005

Peer Group

Semiconductors · 319 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.

Quality Score 67 · Top 25%
Fair Value upside −67% · Below median
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 24% · Top 25%
Operating margin (TTM) 26% · Top 25%
Revenue growth 15% · Above median
Dividend yield (TTM) 0.4% · Bottom 25%

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 59.3× · Pricier than median
P/B 4.78× · Pricier than median
P/S (TTM) 14.53× · Pricier than 75% of peers
EV/EBITDA 38.6× · Pricier than median

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 · sector 0
FUTURE 75 · sector 60
PAST 33 · sector 24
HEALTH 100 · sector 97
DIVIDEND 7 · sector 22

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.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Aug 10, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc 1MU €784.90 €185.67 -76%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is China Wafer Level CSP Co (603005) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥11.33 versus a price of ¥33.79, about −66% (overvalued).
What is the fair value of 603005?
Our model-based fair value for China Wafer Level CSP Co is ¥11.33 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥33.79.
What is the quality score of 603005?
China Wafer Level CSP Co has a Quality Score of 67/100. 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 revenue of China Wafer Level CSP Co (603005)?
China Wafer Level CSP Co reported trailing-twelve-month revenue of about 1.5B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603005?
The net profit margin of China Wafer Level CSP Co is about 24.4%, meaning it keeps roughly 24.4% of revenue as net income. Based on the latest reported figures.
Does China Wafer Level CSP Co pay a dividend?
China Wafer Level CSP Co currently shows a dividend yield of about 0.27% relative to its recent price (as of Aug 10, 2026).

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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