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Ledtech Electronics Corp (6164) Fair Value & Analysis

Industrials · TW · Market cap 992M TWD

LE Ledtech Electronics Corp 6164 · TW
Price11.80 TWD
Fair Value4.72 TWD
Upside-60.0%
Quality59/100
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Weak Growth
Thin margins · 0.2% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Narrow moat 21/100
Evidence: High Range 4.33 TWD – 4.83 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 4.70 TWD to 4.72 TWD (+0.4%) since Jul 12, 2026. Share price −21.1% over the past month.

A solid business, but screening 60% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (4.83 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (4.33 TWD to 4.83 TWD), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

18.99 TWD 8.26 TWD Fair Value 4.72 TWD Feb 2021 Aug 2026

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 8.26 TWD – 18.99 TWD · fair‑value band 4.33 TWD – 4.83 TWD · the 11.80 TWD price screens above the 4.72 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

Ledtech Electronics Corp (6164) currently trades at 11.80 TWD, while our model-based Fair Value estimate is 4.72 TWD, implying the stock looks roughly 60.0% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Industrials 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, Ledtech Electronics Corp generated revenue of 707M TWD at a net margin of 0.2%. Revenue declined 11.9% year over year. It earns a return on equity of 0.1%. The balance sheet holds a net cash position of 187M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 4.33 TWD (bear case) to 4.83 TWD (bull case); at 11.80 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 17% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -60%, 6164 screens richer 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 9.92 TWD 11.40 TWD 13.69 TWD 80
Residual Income 7.32 TWD 6.72 TWD 4.31 TWD 76
Rev-Margin DCF 7.24 TWD 7.81 TWD 8.58 TWD 74
All 24 models by family
DCF Models
FCF DCF 9.75 TWD 11.31 TWD 13.93 TWD 38
Owner Earnings 8.59 TWD 9.80 TWD 11.83 TWD 31
5Y Revenue Exit 7.24 TWD 7.67 TWD 8.28 TWD 39
5Y EBITDA Exit 9.44 TWD 11.46 TWD 14.15 TWD 41
5Y P/E Exit 7.38 TWD 7.90 TWD 8.55 TWD 38
10Y Revenue Exit 8.31 TWD 8.71 TWD 9.07 TWD 36
10Y EBITDA Exit 9.54 TWD 10.85 TWD 12.21 TWD 37
10Y P/E Exit 8.40 TWD 8.84 TWD 9.21 TWD 35
Earnings-Based
Graham-Dodd 0.4800 TWD 0.5900 TWD 0.6600 TWD 54
EPV 4.93 TWD 4.97 TWD 5.01 TWD 59
Dividend Discount
Gordon GGM 3.88 TWD 4.19 TWD 4.64 TWD 70
DDM Multi-Stage 3.88 TWD 4.62 TWD 5.58 TWD 61
Multiples
P/E Multiple 1.06 TWD 1.42 TWD 1.77 TWD 63
P/S Multiple 0.9000 TWD 1.20 TWD 1.50 TWD 58
P/B Multiple 0.9000 TWD 1.20 TWD 1.50 TWD 55
EV/EBIT 5.70 TWD 6.06 TWD 6.42 TWD 53
EV/EBITDA 9.95 TWD 11.73 TWD 13.52 TWD 54
EV/Revenue 5.34 TWD 5.66 TWD 5.97 TWD 43
Asset-Based
NCAV (Graham) 5.72 TWD 7.67 TWD 11.44 TWD 50
Growth DCF
Growth DCF 9.92 TWD 11.40 TWD 13.69 TWD 80
Rev-Margin DCF 7.24 TWD 7.81 TWD 8.58 TWD 74
Economic Profit
Residual Income 7.32 TWD 6.72 TWD 4.31 TWD 76
ROIC Compounder 4.93 TWD 4.97 TWD 5.01 TWD 72
Growth Earnings
Growth-Adj P/E 0.7500 TWD 1.07 TWD 1.40 TWD 68

Widest divergence: DCF Models (8.84 TWD) versus Earnings-Based (0.5900 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 707M TWD
Revenue growth (YoY) -11.9%
Net margin 0.2%
Return on equity 0.1%
Free cash flow 50.7M TWD FY2025
P/E ratio 177.1
More key figures
Operating margin -2.6%
EPS (TTM) 0.0700 TWD
EPS growth (YoY) -50.0%
Net cash 187M TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 60 · Market factors (momentum, volatility) 53

Profitability 23
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 100
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

Ledtech Electronics Corp. engages in the research, development, manufacture, process, and trading in LED displays in Asia, the United Stated, Europe, and internationally.

Full company description

Ledtech Electronics Corp. engages in the research, development, manufacture, process, and trading in LED displays in Asia, the United Stated, Europe, and internationally. It offers standard lamps; single, dual, three, and four-digit displays, as well as alphanumeric, and dot matrix displays; chip LED products; SMD products; chip on board and side view backlight; high power products; holder type products; COB; lamp, SMD, and high-power IR LED; and rigid and flexible light strips and tubes. The company also provides UV antibacterial, low temperature, biological, and semiconductor yellow lightings, as well as energy saving and environmental protection. It serves offices, schools, laboratories, banks, chain convenient stores, and restaurants. Ledtech Electronics Corp. was founded in 1977 and is headquartered in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ledtech Electronics Corp reported revenue of 732M TWD in FY2025 versus 955M TWD in FY2021, a compound −6.4%/yr. Reported net income was 5.7M TWD in FY2025, compounding −3.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
732M TWD
Latest YoY
−11.0%
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.
−6.1%
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.
−0.8%
Avg. growth/yr (23Y) 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.
−0.7%
Revenue −6.4%/yr
FY21 955M TWD
FY22 886M TWD
FY23 717M TWD
FY24 822M TWD
FY25 732M TWD
Net income −3.3%/yr
FY21 6.5M TWD
FY22 61.7M TWD
FY23 −24.0M TWD
FY24 43.8M TWD
FY25 5.7M TWD
Character of growth · EPS growth decomposed (2014-2025) −11.0 % p.a.
Revenue per share −4.3 pp

of which total revenue −7.6 pp · buybacks/dilution +3.3 pp

EBIT margin −15.6 pp
Tax rate −3.8 pp
Residual (interest, one-offs) +12.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

6164 screens 60% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "Ledtech Electronics Corp Fair Value". https://www.fairvalue-calculator.com/stock/6164

Peer Group

Electrical Equipment & Parts · 526 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 59 · Above median
Fair Value upside −60% · Below median
Return on equity (TTM) 0% · Bottom 25%
Return on assets -0% · Bottom 25%
Net margin (TTM) 0% · Bottom 25%
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -12% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 177.1× · Pricier than 75% of peers
P/B 1.08× · Cheaper than median
P/S (TTM) 1.40× · Cheaper than median
P/FCF 0.6× · Cheaper than 75% of peers
EV/EBITDA 18.1× · 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 0 · sector 57
PAST 0 · sector 26
HEALTH 98 · sector 97
DIVIDEND 0 · sector 18

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is Ledtech Electronics Corp (6164) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 4.72 TWD versus a price of 11.80 TWD, about −60% (overvalued).
What is the fair value of 6164?
Our model-based fair value for Ledtech Electronics Corp is 4.72 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 11.80 TWD.
What is the quality score of 6164?
Ledtech Electronics Corp has a Quality Score of 59/100. 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 Ledtech Electronics Corp (6164)?
Ledtech Electronics Corp reported trailing-twelve-month revenue of about 707M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6164?
The net profit margin of Ledtech Electronics Corp is about 0.2%, meaning it keeps roughly 0.2% 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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