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Adlink Technology Inc (6166) Fair Value & Analysis

Technology · TW · Market cap 28.8B TWD

AT Adlink Technology Inc 6166 · TW
Price143.00 TWD
Fair Value45.50 TWD
Upside-68.2%
Quality73/100
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Healthy Growth
Thin margins · 6.3% net margin
Low debt · generates free cash flow
0.83% dividend yield
Mixed vs. peers (8/15)
Moderate moat 48/100
Evidence: High Range 32.02 TWD – 58.70 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Share price +6.3% over the past month.

A solid business, but screening 68% overvalued on our models.

What matters now

  • A high-quality business (quality 73/100), 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 (58.70 TWD). The favourable scenario is already priced in.
  • A fairly wide model range (32.02 TWD to 58.70 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

166.50 TWD 46.90 TWD Fair Value 45.50 TWD Mar 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 46.90 TWD – 166.50 TWD · fair‑value band 32.02 TWD – 58.70 TWD · the 143.00 TWD price screens above the 45.50 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Adlink Technology Inc (6166) currently trades at 143.00 TWD, while our model-based Fair Value estimate is 45.50 TWD, implying the stock looks roughly 68.2% overvalued today. The Quality Score stands at 73/100 (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, Adlink Technology Inc generated revenue of 12.6B TWD at a net margin of 6.3%. Revenue grew 28.7% year over year. It earns a return on equity of 14.1%. Net debt stands at 1.8B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 32.02 TWD (bear case) to 58.70 TWD (bull case); at 143.00 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 3% below its 52-week high and 167% 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 -68%, 6166 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 36.61 TWD 54.32 TWD 79.89 TWD 80
Residual Income 22.14 TWD 24.23 TWD 32.84 TWD 76
Rev-Margin DCF 30.18 TWD 46.89 TWD 66.33 TWD 74
All 26 models by family
DCF Models
FCF DCF 36.07 TWD 56.21 TWD 87.25 TWD 38
Owner Earnings 40.12 TWD 62.59 TWD 97.22 TWD 31
5Y Revenue Exit 30.18 TWD 46.77 TWD 67.83 TWD 39
5Y EBITDA Exit 38.36 TWD 62.17 TWD 90.00 TWD 41
5Y P/E Exit 33.69 TWD 53.36 TWD 74.03 TWD 38
10Y Revenue Exit 31.14 TWD 46.84 TWD 67.83 TWD 36
10Y EBITDA Exit 37.20 TWD 57.58 TWD 84.87 TWD 37
10Y P/E Exit 34.21 TWD 51.44 TWD 72.60 TWD 35
Earnings-Based
Graham-Dodd 15.97 TWD 51.47 TWD 68.69 TWD 54
Lynch FV 11.44 TWD 16.34 TWD 21.25 TWD 50
PEG = 1.0 11.44 TWD 16.34 TWD 21.25 TWD 46
EPV 23.26 TWD 26.97 TWD 30.21 TWD 59
Dividend Discount
Gordon GGM 8.55 TWD 17.78 TWD 28.21 TWD 70
DDM Multi-Stage 8.55 TWD 14.37 TWD 18.66 TWD 61
Multiples
P/E Multiple 35.22 TWD 46.96 TWD 58.70 TWD 63
P/S Multiple 29.94 TWD 39.92 TWD 49.90 TWD 58
P/B Multiple 29.94 TWD 39.92 TWD 49.90 TWD 55
EV/EBIT 41.46 TWD 54.94 TWD 68.43 TWD 53
EV/EBITDA 44.23 TWD 58.64 TWD 73.04 TWD 54
EV/Revenue 28.27 TWD 39.96 TWD 51.64 TWD 43
Asset-Based
NCAV (Graham) 12.86 TWD 17.24 TWD 25.73 TWD 50
Growth DCF
Growth DCF 36.61 TWD 54.32 TWD 79.89 TWD 80
Rev-Margin DCF 30.18 TWD 46.89 TWD 66.33 TWD 74
Economic Profit
Residual Income 22.14 TWD 24.23 TWD 32.84 TWD 76
ROIC Compounder 23.26 TWD 27.79 TWD 35.02 TWD 72
Growth Earnings
Growth-Adj P/E 29.65 TWD 42.35 TWD 55.06 TWD 68

Widest divergence: DCF Models (53.36 TWD) versus Dividend Discount (14.37 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 12.6B TWD
Revenue growth (YoY) +28.7%
Net margin 6.3%
Return on equity 14.1%
Free cash flow 667M TWD FY2025
P/E ratio 54.9
More key figures
Operating margin 12.1%
EPS (TTM) 2.34 TWD
Dividend yield 0.8%
EPS growth (YoY) +407%
Net debt 1.8B TWD FY2025

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

Quality Score breakdown

Overall quality 73/100

Of which business quality 69 · Market factors (momentum, volatility) 78

Profitability 47
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 36
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 97
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

Adlink Technology Inc. manufactures and sells hardware, software, and peripheral equipment of industrial computers in the Asia Pacific, Mainland China, the United States, and Europe.

Full company description

Adlink Technology Inc. manufactures and sells hardware, software, and peripheral equipment of industrial computers in the Asia Pacific, Mainland China, the United States, and Europe. The company offers computer-on-modules such as COM Express and HPC, OSM, SMARC, Qseven, and ETX; GPU solutions, including MXM GPU modules, and PCIe graphics cards; and rugged computing solutions, comprising compactPCI and compactPCI serial, PC104, VPX, AVA railway rugged computers, and passenger information display system. It also provides network security appliance; industrial display systems and panel PCs comprising, industrial touch monitors, open frame, all-in-one and rugged panel PCs, and digital signage players; edge computing platforms, which include industrial PCs, motherboards, SBCs, embedded computers and IoT gateway, edge AI platforms, AI smart cameras, robotic controllers, and industrial solid state drives; and gaming platforms and monitors. In addition, the company offers healthcare computing and monitors; automation and control solutions such as machine vision, motion control and I/O, mobile robots, PXI platforms and modules, data acquisition, GPIB and digitalizers, Autonomous Mobile Robots, Industrial Gateway Solutions; ADLINK DDS, an intelligent data sharing platform; EdgeGO device management software; and design and manufacturing services. It serves automotive, defense and aviation, healthcare, industrial automation, gaming, railway, semiconductor, and robotics industries. Adlink Technology Inc. was incorporated in 1995 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

Adlink Technology Inc reported revenue of 11.8B TWD in FY2025 versus 9.7B TWD in FY2021, a compound +5.1%/yr. Reported net income was 512M TWD in FY2025, compounding +44.0%/yr from FY2021.

Growth Quality 67/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
11.8B TWD
Latest YoY
+17.1%
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.
+0.2%
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.
+4.1%
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.
+11.4%
Revenue +5.1%/yr
FY21 9.7B TWD
FY22 11.7B TWD
FY23 11.4B TWD
FY24 10.1B TWD
FY25 11.8B TWD
Net income +44.0%/yr
FY21 119M TWD
FY22 806M TWD
FY23 329M TWD
FY24 50.9M TWD
FY25 512M TWD
Character of growth · EPS growth decomposed (2014-2025) −6.9 % p.a.
Revenue per share +2.0 pp

of which total revenue +2.5 pp · buybacks/dilution −0.5 pp

EBIT margin −9.6 pp
Tax rate −0.8 pp
Residual (interest, one-offs) +1.5 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).

6166 screens 68% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Adlink Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/6166

Peer Group

Computer Hardware · 215 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 73 · Top 25%
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 14% · Above median
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 12% · Top 25%
Revenue growth 29% · Above median
Dividend yield (TTM) 0.8% · Below median
Debt / equity 0.40× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 56.4× · Pricier than 75% of peers
P/B 5.13× · Pricier than 75% of peers
P/S (TTM) 2.29× · Pricier than median
P/FCF 1.3× · Cheaper than median
EV/EBITDA 23.2× · Pricier than median
PEG 0.90× · 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 100 · sector 57
PAST 56 · sector 26
HEALTH 80 · sector 97
DIVIDEND 17 · sector 44

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is Adlink Technology Inc (6166) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 45.50 TWD versus a price of 143.00 TWD, about −68% (overvalued).
What is the fair value of 6166?
Our model-based fair value for Adlink Technology Inc is 45.50 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 143.00 TWD.
What is the quality score of 6166?
Adlink Technology Inc has a Quality Score of 73/100. 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 Adlink Technology Inc (6166)?
Adlink Technology Inc reported trailing-twelve-month revenue of about 12.6B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6166?
The net profit margin of Adlink Technology Inc is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does Adlink Technology Inc pay a dividend?
Adlink Technology Inc currently shows a dividend yield of about 0.83% relative to its recent price (as of Jul 21, 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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