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Ginar Technology Co (6151) Fair Value & Analysis

Basic Materials · TW · Market cap 2.0B TWD

GT Ginar Technology Co 6151 · TWO
Price35.20 TWD
Fair Value22.76 TWD
Upside-35.3%
Quality71/100
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Weak Growth
Thin margins · 5.0% net margin
Low debt · generates free cash flow
4.20% dividend yield
Ranks above peers (10/14)
Moderate moat 45/100
Evidence: High Range 17.07 TWD – 28.45 TWD Share as image

Fair value as of: Jul 23, 2026

From 24 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 19.72 TWD to 22.76 TWD (+15.4%) since Jul 12, 2026. Share price −9.7% over the past month.

A solid business, but screening 35% overvalued on our models.

What matters now

  • A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (28.45 TWD). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

63.50 TWD 21.37 TWD Fair Value 22.76 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 21.37 TWD – 63.50 TWD · fair‑value band 17.07 TWD – 28.45 TWD · the 35.20 TWD price screens above the 22.76 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Ginar Technology Co (6151) currently trades at 35.20 TWD, while our model-based Fair Value estimate is 22.76 TWD, implying the stock looks roughly 35.3% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Basic Materials 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, Ginar Technology Co generated revenue of 1.7B TWD at a net margin of 3.7%. Revenue grew 4.8% year over year. It earns a return on equity of 6.4%. Net debt stands at 129M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 17.07 TWD (bear case) to 28.45 TWD (bull case); at 35.20 TWD, 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 31% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -35%, 6151 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 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
Highest evidence
Growth DCF 33.29 TWD 41.19 TWD 54.43 TWD 80
Residual Income 13.65 TWD 14.08 TWD 13.83 TWD 76
Rev-Margin DCF 28.35 TWD 39.14 TWD 52.94 TWD 74
All 24 models by family
DCF Models
FCF DCF 32.44 TWD 40.70 TWD 55.83 TWD 38
Owner Earnings 18.07 TWD 22.43 TWD 30.42 TWD 31
5Y Revenue Exit 28.35 TWD 38.35 TWD 53.37 TWD 39
5Y EBITDA Exit 29.22 TWD 39.83 TWD 54.37 TWD 41
5Y P/E Exit 22.37 TWD 28.19 TWD 35.52 TWD 38
10Y Revenue Exit 29.36 TWD 37.51 TWD 46.47 TWD 36
10Y EBITDA Exit 30.41 TWD 38.39 TWD 47.05 TWD 37
10Y P/E Exit 26.58 TWD 31.47 TWD 36.14 TWD 35
Earnings-Based
Graham-Dodd 7.89 TWD 12.25 TWD 14.66 TWD 54
EPV 15.03 TWD 16.80 TWD 18.29 TWD 59
Dividend Discount
Gordon GGM 11.65 TWD 13.37 TWD 15.22 TWD 70
DDM Multi-Stage 11.65 TWD 14.55 TWD 17.83 TWD 61
Multiples
P/E Multiple 14.79 TWD 19.72 TWD 24.65 TWD 63
P/S Multiple 14.79 TWD 19.72 TWD 24.65 TWD 58
P/B Multiple 14.79 TWD 19.72 TWD 24.65 TWD 55
EV/EBIT 31.07 TWD 40.77 TWD 50.47 TWD 53
EV/EBITDA 30.77 TWD 40.37 TWD 49.96 TWD 54
EV/Revenue 27.19 TWD 38.00 TWD 48.81 TWD 43
Asset-Based
NCAV (Graham) 8.96 TWD 12.00 TWD 17.91 TWD 50
Growth DCF
Growth DCF 33.29 TWD 41.19 TWD 54.43 TWD 80
Rev-Margin DCF 28.35 TWD 39.14 TWD 52.94 TWD 74
Economic Profit
Residual Income 13.65 TWD 14.08 TWD 13.83 TWD 76
ROIC Compounder 15.03 TWD 16.80 TWD 18.38 TWD 72
Growth Earnings
Growth-Adj P/E 10.54 TWD 15.05 TWD 19.57 TWD 68

Widest divergence: Growth DCF (39.14 TWD) versus Asset-Based (12.00 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.7B TWD
Revenue growth (YoY) +4.8%
Net margin 3.7%
Return on equity 6.4%
Free cash flow 202M TWD FY2025
P/E ratio 36.4
More key figures
Operating margin 11.0%
EPS (TTM) 1.16 TWD
EPS growth (YoY) -67.7%
Net debt 129M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 70 · Market factors (momentum, volatility) 58

Profitability 45
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 82
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

Ginar Technology Co.,Ltd. engages in the research, development, and production of engineering plastic and composite materials in Taiwan and China. It offers polyamide (PA), polypropylene, and polycarbonate, as well as color mating technology.

Full company description

Ginar Technology Co.,Ltd. engages in the research, development, and production of engineering plastic and composite materials in Taiwan and China. It offers polyamide (PA), polypropylene, and polycarbonate, as well as color mating technology. The company also provides GITA HPPA engineering plastics, including high-performance nylon composite engineering plastic and flame retardant; MAPEX polyamide engineering plastics comprising polyamide 6, polyamide 66, and high temperature nylon compounds; APLAX polypropylene engineering plastics, such as polypropylene compounds; and KAPEX polycarbonate engineering plastics. Its products are used in materials for automotive, sports, daily life, consumer electronics, and electrical and electronics applications. The company was founded in 1982 and is headquartered in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ginar Technology Co reported revenue of 1.7B TWD in FY2025 versus 2.5B TWD in FY2021, a compound −8.5%/yr. Reported net income was 64.1M TWD in FY2025, compounding −26.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.7B TWD
Latest YoY
+3.4%
Avg. growth/yr (3Y) 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.
+0.4%
Avg. growth/yr (5Y) 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.
+1.0%
Avg. growth/yr (8Y) 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.
−1.5%
Revenue −8.5%/yr
FY21 2.5B TWD
FY22 1.7B TWD
FY23 1.6B TWD
FY24 1.7B TWD
FY25 1.7B TWD
Net income −26.8%/yr
FY21 223M TWD
FY22 103M TWD
FY23 85.4M TWD
FY24 82.0M TWD
FY25 64.1M TWD

6151 screens 35% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Ginar Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/6151

Peer Group

Specialty Chemicals · 673 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 71 · Top 25%
Fair Value upside −35% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth 0% · Below median
Dividend yield (TTM) 4.2% · Top 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 30.9× · Pricier than median
P/B 2.00× · Pricier than median
P/S (TTM) 1.15× · Cheaper than median
P/FCF 0.3× · Cheaper than median
EV/EBITDA 8.7× · Cheaper 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 2 · sector 19
PAST 36 · sector 23
HEALTH 99 · sector 95
DIVIDEND 84 · sector 25

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
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Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Ginar Technology Co (6151) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 22.76 TWD versus a price of 35.20 TWD, about −35% (overvalued).
What is the fair value of 6151?
Our model-based fair value for Ginar Technology Co is 22.76 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 35.20 TWD.
What is the quality score of 6151?
Ginar Technology Co has a Quality Score of 71/100. 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 Ginar Technology Co (6151)?
Ginar Technology Co reported trailing-twelve-month revenue of about 1.7B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6151?
The net profit margin of Ginar Technology Co is about 3.7%, meaning it keeps roughly 3.7% of revenue as net income. Based on the latest reported figures.

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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