Anpec Electronics (6138) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Anpec Electronics TWD 302, price TWD 275, upside +10.0%, quality 79 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 87.17 TWD – 440.00 TWD · fair‑value band 201.97 TWD – 440.12 TWD · the 274.50 TWD price screens below the 301.95 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Anpec Electronics Corporation engages in the design, testing, production, and marketing of mixed-signal power chips and sensors in Taiwan and internationally.
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Anpec Electronics Corporation engages in the design, testing, production, and marketing of mixed-signal power chips and sensors in Taiwan and internationally. The company provides power management; battery management; PMIC; linear regulators, such as single output LDO, DDR termination, and daul output LDO regulators, as well as LDO regulator controllers; and switching regulators, including boost converters, buck controllers and converters, DrMOS, and power module. It also offers motor drivers, hall in one driver, hall effect sensor latches, pre-drivers, and sensorless drivers; switches comprising power switches, USB charger IDs, power distribution controllers, and analog switches; audio products, including speaker, headphone, and digital input audio amplifiers; lighting and display products, such as white LED and IR LED drivers; and analog to digital converters. The company's products are used in various applications, including fan, surveillance, VGA card, notebook, memory, optical, motherboard, SPS, storage, LCD, communication, and automotive. Anpec Electronics Corporation was incorporated in 1997 and is headquartered in Hsinchu City, Taiwan.
Stock analysis
Anpec Electronics (6138) currently trades at 274.50 TWD, while our model-based Fair Value estimate is 301.95 TWD, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 369.91 TWD per share, and 13 of the 26 models we run sit above the 274.50 TWD price.
Bear case: the Asset-Based group reads lowest at 35.49 TWD, and 13 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 201.97 TWD (bear) to 440.12 TWD (bull), the price of 274.50 TWD sits inside 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 79/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Anpec Electronics reported revenue of 7.5B TWD in FY2025 versus 6.8B TWD in FY2021, a compound +2.6%/yr. Reported net income was 951M TWD in FY2025, compounding +0.6%/yr from FY2021.
Key figures
Market cap 23.7B TWD (≈ $743M) · P/E ratio 21.5 · P/S ratio 2.73 · EPS (TTM) 12.76 TWD · Dividend yield 4.0% · Net margin 12.7% · Return on equity 30.1% · Return on assets (EBIT) 19.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 38% below its 52-week high and 31% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at 10%, 6138 screens cheaper than that median.
Fair Value models
Bear 201.97 TWDFair Value 301.95 TWDBull 440.12 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 (1.27 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.83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+22.9%
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.
+5.5%
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.
+6.8%
Start year 2020 (pandemic). Over 10 years: +9.2% 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.
+5.9%
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What shareholders gained per year (last 5 years), in TWD ⓘ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. 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.
+19.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.4%
Dividend (yield on the price)4.0%
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.15% vs 16%, steady
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.13% → 17%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+5.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +3.7% a year for the price.
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.Semiconductors · 335 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score79 · Top 25%
Fair Value upside+10% · Top 25%
Profitability
Return on equity (TTM)30% · Top 25%
Return on assets13% · Top 25%
Net margin (TTM)13% · Above median
Operating margin (TTM)20% · Top 25%
Growth and dividend
Revenue growth11% · Below median
Dividend yield (TTM)4.0% · Top 25%
Valuation Multiplesvs Semiconductors 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). "Anpec Electronics Fair Value". https://www.fairvalue-calculator.com/stock/6138
Frequently asked questions
Is Anpec Electronics (6138) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 301.95 TWD versus a price of 274.50 TWD, about +10% upside (undervalued).
What is the fair value of 6138?
Our model-based fair value for Anpec Electronics is 301.95 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 274.50 TWD.
What is the quality score of 6138?
Anpec Electronics has a Quality Score of 79/100. 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 Anpec Electronics (6138)?
Our model-based price target is the fair value of 301.95 TWD (as of Sep 23, 2026) from 26 valuation models. Cautious scenario 201.97 TWD, optimistic scenario 440.12 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Anpec Electronics stock forecast for 2026?
Our models put fair value at 301.95 TWD, about +10% upside versus a price of 274.50 TWD (undervalued). Cautious scenario 201.97 TWD, optimistic scenario 440.12 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Anpec Electronics (6138)?
Anpec Electronics reported trailing-twelve-month revenue of about 7.7B TWD (latest available figure, as of Sep 23, 2026).
Does Anpec Electronics pay a dividend?
Anpec Electronics currently shows a dividend yield of about 4.01% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Anpec Electronics (6138)?
For today's price to be fair in a discounted-cash-flow model, Anpec Electronics would have to grow free cash flow by +5.3 % per year for five years (discount rate 10.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 6138 use?
Our models discount Anpec Electronics at 10.8 %: a base by market capitalisation (large), damped by beta 1.42, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Anpec Electronics that is +5.3 % per year a year over ten years, using the same discount rate (10.8 %) and the same formula as our fair value.
How much growth has Anpec Electronics (6138) delivered so far?
Over the past 5 years revenue at Anpec Electronics grew +6.8 % a year. The price currently implies +5.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Anpec Electronics (6138) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Anpec Electronics (+5.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Anpec Electronics (6138)?
The free-cash-flow yield on the price is 6.47 %: that much free cash flow Anpec Electronics produces per unit of market value. When it exceeds the discount rate of our models (10.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Anpec Electronics (6138)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Anpec Electronics it is 301.95 TWD per share (as of Sep 23, 2026), against a price of 274.50 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Anpec Electronics stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 6138 trades below its calculated fair value: price 274.50 TWD, fair value 301.95 TWD, a gap of about +10% (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 6138?
No. The price is what the market pays today (274.50 TWD); the fair value is what the company's own numbers justify (301.95 TWD). For Anpec Electronics the two are 27.45 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Anpec Electronics worth?
The market values Anpec Electronics at about 23.7B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 274.50 TWD; our models calculate a fair value of 301.95 TWD per share.
What do the bullish and bearish scenarios say about 6138?
Our models span a range for Anpec Electronics: cautious scenario 201.97 TWD, base 301.95 TWD, optimistic 440.12 TWD per share (as of Sep 23, 2026, price 274.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6138?
Anpec Electronics trades at a price-to-earnings ratio of 21.5 (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 301.95 TWD is built from several models across several years. Other multiples: P/B 6.0, P/S 3.1, EV/EBITDA 14.4.
How solid is the balance sheet of Anpec Electronics (6138)?
Balance-sheet figures for Anpec Electronics (as of Sep 23, 2026): return on equity 30.1%. They feed the Quality Score of 79/100, which measures business quality independently of the share price.
How far is 6138 from its 52-week high?
Anpec Electronics trades at 274.50 TWD, about 38% below its 52-week high of 440.00 TWD and 31% above the low of 209.50 TWD (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 301.95 TWD is for.
Which stocks are comparable to Anpec Electronics?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix 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 Anpec Electronics stock attractive at the current price?
The data as of Sep 23, 2026: price 274.50 TWD, calculated fair value 301.95 TWD (+10%), Quality Score 79/100, from 26 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 6138 calculated?
We run Anpec Electronics through 26 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 301.95 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. Anpec Electronics currently trades 10 % 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 Anpec Electronics (6138)?
The closing price on Sep 23, 2026 was 274.50 TWD. Our model-based fair value is 301.95 TWD, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Anpec Electronics right now?
A fairly wide model range (201.97 TWD to 440.12 TWD) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Anpec Electronics (6138) come from?
Earnings per share at Anpec Electronics grew +23.0 % a year from 2012 to 2023. Broken into its drivers: revenue per share +9.5 %, EBIT margin +14.4 %, tax rate +0.1 %, residual (interest, one-offs) −2.0 %. 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 Anpec Electronics
How large is the market capitalisation of Anpec Electronics (6138)?
The market capitalisation of Anpec Electronics is 23.7B TWD (≈ $743M). 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 Anpec Electronics (6138)?
The price-to-sales ratio of Anpec Electronics is 2.73 (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 Anpec Electronics (6138)?
Earnings per share at Anpec Electronics are 12.76 TWD (price ÷ EPS = P/E 21.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Anpec Electronics (6138)?
The dividend yield of Anpec Electronics is 4.0% (payout 86.2%). 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 Anpec Electronics (6138)?
The net margin of Anpec Electronics is 12.7% (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 Anpec Electronics (6138)?
The return on equity (ROE) of Anpec Electronics is 30.1% (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 Anpec Electronics (6138)?
On an EBIT basis the return on assets of Anpec Electronics is 19.2% (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 Anpec Electronics (6138)?
The operating margin of Anpec Electronics is 19.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Anpec Electronics (6138)?
Revenue at Anpec Electronics is growing +11.4% versus a year earlier (3y avg +5.5%). 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 Anpec Electronics (6138)?
Earnings per share at Anpec Electronics are growing +17.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Anpec Electronics (6138) hold?
Anpec Electronics holds more cash than debt, 746M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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