EASYCARD Corporation (6035) Fair Value & Analysis
Technology · TW · Market cap 3.7B TWD
Fair value as of: Jul 21, 2026
From 25 valuation models · updated 20 days ago
Fair value updated Jul 21, 2026, revised from 91.46 TWD to 91.27 TWD (−0.2%) since Jul 11, 2026. Share price +3.8% over the past month.
A solid business, screening 74% undervalued on our models.
What matters now
- The price is below even our cautious bear case (62.49 TWD). The market is more pessimistic than our downside scenario.
- Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (62.49 TWD to 123.33 TWD) leaves room in how you read the outcome.
Price vs Fair Value (4 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
43‑month range 48.47 TWD – 125.26 TWD · fair‑value band 62.49 TWD – 123.33 TWD · the 52.60 TWD price screens below the 91.27 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.
Analysis
EASYCARD Corporation (6035) currently trades at 52.60 TWD, while our model-based Fair Value estimate is 91.27 TWD, implying the stock looks roughly 73.5% undervalued today. The Quality Score stands at 56/100 (solid 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: high), always confirm before acting.
Over the trailing twelve months, EASYCARD Corporation generated revenue of 2.0B TWD at a net margin of 15.1%. Revenue grew 5.1% year over year. It earns a return on equity of 23.7%. The balance sheet holds a net cash position of 665M TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 62.49 TWD (bear case) to 123.33 TWD (bull case); at 52.60 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 21% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at 74%, 6035 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 25 models by family
Widest divergence: DCF Models (75.54 TWD) versus Asset-Based (12.25 TWD). Highest evidence: Residual Income (76).
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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 54 · Market factors (momentum, volatility) 45
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
EASYCARD Corporation engages in the prepaid card sales and electronic payment clearing business in Taiwan and Japan. The company provides contactless smartcards for electronic transport ticket systems.
Full company description
EASYCARD Corporation engages in the prepaid card sales and electronic payment clearing business in Taiwan and Japan. The company provides contactless smartcards for electronic transport ticket systems. Its smartcards are used as a tool for small-value payments at shops, such as convenience stores, supermarkets, and restaurants, as well as used at leisure facilities, hospitals, government agencies, and library self-checkout kiosks. The company was formerly known as Taipei Smart Card Corporation and changed its name to EASYCARD Corporation in August 2008. The company was founded in 1990 and is based in Taipei, Taiwan. EASYCARD Corporation operates as a subsidiary of EasyCard Investment Holding Co., Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
EASYCARD Corporation reported revenue of 2.0B TWD in FY2025 versus 1.6B TWD in FY2021, a compound +5.0%/yr. Reported net income was 297M TWD in FY2025, compounding +64.3%/yr from FY2021.
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Peer Group
Software - Infrastructure · 371 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 Software - Infrastructure 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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $384.00 | $274.17 | -29% |
| Oracle Corporation ORAC | C$9.08 | C$2.94 | -68% |
| Fortinet, Inc FTNT | $160.78 | $44.96 | -72% |
| Synopsys, Inc 1SNPS | €354.50 | €93.61 | -74% |
| Block, Inc XYZ | A$114.53 | A$70.69 | -38% |
| CoreWeave, Inc CRWV | $79.94 | $44.89 | -44% |
| Range Intelligent Computing Technology Group 300442 | ¥71.60 | ¥34.00 | -53% |
| Oracle Financial Services Software Limited OFSS | ₹11,651 | ₹5,821 | -50% |
| 360 Security Technology Inc 601360 | ¥9.64 | ¥5.05 | -48% |
| One97 Communications Limited PAYTM | ₹1,342 | ₹181.50 | -86% |
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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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