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Wafer Works Corporation (6182) Fair Value & Analysis

Technology · TW · Market cap 112B TWD

WW Wafer Works Corporation 6182 · TWO
Price101.00 TWD
Fair Value112.94 TWD
Upside+11.8%
Quality41/100
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Expensive Growth
Thin margins · 0.3% net margin
Low debt · negative free cash flow
Trails peers (4/11)
Narrow moat 22/100
Evidence: Medium Range 84.54 TWD – 141.34 TWD Share as image

Fair value as of: Aug 7, 2026

From 16 valuation models · updated 3 days ago

Fair value updated Aug 7, 2026, revised from 1.75 TWD to 112.94 TWD (+6,353.7%) since Jul 15, 2026. Share price −36.9% over the past month.

Below-average quality, screening 12% undervalued on our models.

What matters now

  • Our model range runs from 84.54 TWD (bear) to 141.34 TWD (bull), base 112.94 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 41/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

189.50 TWD 15.85 TWD Fair Value 112.94 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.

How to read this chart

60‑month range 15.85 TWD – 189.50 TWD · fair‑value band 84.54 TWD – 141.34 TWD · the 101.00 TWD price screens below the 112.94 TWD fair value. Dashed = 300-day average. As of Aug 7, 2026.

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Analysis

Wafer Works Corporation (6182) currently trades at 101.00 TWD, while our model-based Fair Value estimate is 112.94 TWD, implying the stock looks roughly 11.8% undervalued today. The Quality Score stands at 41/100 (below-average 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: medium), always confirm before acting.

Over the trailing twelve months, Wafer Works Corporation generated revenue of 10.0B TWD at a net margin of 0.3%. Revenue grew 7.5% year over year. It earns a return on equity of 1.6%. Net debt stands at 4.2B TWD. Fundamentals as of Aug 7, 2026

Our scenario range runs from 84.54 TWD (bear case) to 141.34 TWD (bull case); at 101.00 TWD, the current price sits within 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 near its 52-week high, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at 12%, 6182 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 BearBaseBull Evidence
Highest evidence
Residual Income 550.82 TWD 511.46 TWD 349.79 TWD 76
ROIC Compounder 7.10 TWD 31.30 TWD 52.60 TWD 72
Gordon GGM 176.19 TWD 366.25 TWD 580.83 TWD 70
All 16 models by family
Earnings-Based
Graham-Dodd 19.04 TWD 59.05 TWD 78.41 TWD 54
Lynch FV 12.58 TWD 18.07 TWD 23.56 TWD 50
PEG = 1.0 12.58 TWD 18.07 TWD 23.56 TWD 46
EPV 7.10 TWD 31.30 TWD 52.60 TWD 59
Dividend Discount
Gordon GGM 176.19 TWD 366.25 TWD 580.83 TWD 70
DDM Multi-Stage 176.19 TWD 289.45 TWD 384.32 TWD 61
Multiples
P/E Multiple 42.27 TWD 56.47 TWD 70.67 TWD 63
P/S Multiple 35.82 TWD 48.08 TWD 60.02 TWD 58
P/B Multiple 35.82 TWD 48.08 TWD 60.02 TWD 55
EV/EBIT 275.25 TWD 413.68 TWD 551.79 TWD 53
EV/EBITDA 1,182 TWD 1,622 TWD 2,063 TWD 54
EV/Revenue 140.37 TWD 260.08 TWD 379.80 TWD 43
Asset-Based
NCAV (Graham) 408.84 TWD 547.92 TWD 817.69 TWD 50
Economic Profit
Residual Income 550.82 TWD 511.46 TWD 349.79 TWD 76
ROIC Compounder 7.10 TWD 31.30 TWD 52.60 TWD 72
Growth Earnings
Growth-Adj P/E 35.17 TWD 50.02 TWD 65.18 TWD 68

Widest divergence: Asset-Based (547.92 TWD) versus Earnings-Based (18.07 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 10.0B TWD
Revenue growth (YoY) +7.5%
Net margin 0.3%
Return on equity 1.6%
Free cash flow −7.0B TWD FY2025
P/E ratio 2,105.6
More key figures
Operating margin 1.1%
EPS (TTM) 0.0900 TWD
EPS growth (YoY) -92.7%
Net debt 4.2B TWD FY2025

Figures from reported company fundamentals · as of Aug 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 43 · Market factors (momentum, volatility) 65

Profitability 14
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 4
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 73
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

Wafer Works Corporation engages in the research, design, manufacturing, and sales of semiconductor silicon, semiconductor epitaxial, and compound semiconductor materials in Taiwan, Mainland China, the United States, and Internationally.

Full company description

Wafer Works Corporation engages in the research, design, manufacturing, and sales of semiconductor silicon, semiconductor epitaxial, and compound semiconductor materials in Taiwan, Mainland China, the United States, and Internationally. The company offers polished, epitaxial, and GaN epitaxial wafers; silicon-on-insulator; and customized wafers, such as GaN epitaxial wafers, double-sided wafers, epitaxial wafers, lapped wafers, etched wafers, ultra-thick wafers, and ultra-thin wafers. It is also involved in the provision of product technology consultation; and service business and import and export trade business. Wafer Works Corporation was incorporated in 1997 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

Wafer Works Corporation reported revenue of 9.8B TWD in FY2025 versus 10.3B TWD in FY2021, a compound −1.3%/yr. Reported net income was 51.9M TWD in FY2025, compounding −57.2%/yr from FY2021.

Growth Quality 33/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
9.8B TWD
Latest YoY
+12.6%
Avg. growth/yr (3Y)
−8.2%
Avg. growth/yr (5Y)
+5.8%
Avg. growth/yr (23Y)
+8.7%
Revenue −1.3%/yr
FY21 10.3B TWD
FY22 12.7B TWD
FY23 10.0B TWD
FY24 8.7B TWD
FY25 9.8B TWD
Net income −57.2%/yr
FY21 1.5B TWD
FY22 3.0B TWD
FY23 1.1B TWD
FY24 4.0M TWD
FY25 51.9M TWD

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Cite: Fair Value Calculator (2026). "Wafer Works Corporation Fair Value". https://www.fairvalue-calculator.com/stock/6182

Peer Group

Semiconductor Equipment & Materials · 211 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 41 · Bottom 25%
Fair Value upside +12% · Top 25%
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 0% · Bottom 25%
Operating margin (TTM) 1% · Bottom 25%
Revenue growth 8% · Below median
Debt / equity 0.49× · Higher than 75% of peers

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/B 0.23× · Cheaper than 75% of peers
P/S (TTM) 0.35× · Cheaper than 75% of peers
EV/EBITDA 2.5× · Cheaper than 75% of peers

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 49 · sector 0
FUTURE 38 · sector 58
PAST 6 · sector 30
HEALTH 76 · sector 96
DIVIDEND 0 · sector 16

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is Wafer Works Corporation (6182) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of 112.94 TWD versus a price of 101.00 TWD, about +12% (undervalued).
What is the fair value of 6182?
Our model-based fair value for Wafer Works Corporation is 112.94 TWD (as of Aug 7, 2026), built from audited fundamentals. The current price is 101.00 TWD.
What is the quality score of 6182?
Wafer Works Corporation has a Quality Score of 41/100. 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 Wafer Works Corporation (6182)?
Wafer Works Corporation reported trailing-twelve-month revenue of about 10.0B TWD (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 6182?
The net profit margin of Wafer Works Corporation is about 0.3%, meaning it keeps roughly 0.3% 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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