Wafer Works (6182) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Wafer Works stock TWD 110, price TWD 69.00, upside +60.0%, quality 43 out of 100. Rating: strongly undervalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 15.85 TWD – 189.50 TWD · fair‑value band 82.80 TWD – 138.01 TWD · the 69.00 TWD price screens below the 110.40 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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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.
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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.
Stock analysis
Wafer Works (6182) currently trades at 69.00 TWD, while our model-based Fair Value estimate is 110.40 TWD, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 624.79 TWD per share, and 5 of the 14 models we run sit above the 69.00 TWD price.
Bear case: the Earnings-Based group reads lowest at 17.36 TWD, and 9 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 82.80 TWD (bear) to 138.01 TWD (bull), the price of 69.00 TWD sits below 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 43/100 (below-average quality), in the Technology sector.
Mixed Growth: Spin-off in 2012: revenue and profit before it include the divested business. Growth is measured afresh from 2012.
Wafer Works 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.
Key figures
Market cap 43.1B TWD (≈ $1.3B) Small · P/E ratio 300.0 · P/S ratio 3.88 · EPS (TTM) 0.2300 TWD · Dividend yield 0.5% · Net margin 1.4% · Return on equity 1.6% · Return on assets (EBIT) 5.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (medium confidence).
What moves the price
The share trades about 64% below its 52-week high and 155% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −2% fair-value upside, at 60%, 6182 screens cheaper than that median.
Fair Value models
Bear82.80 TWDFair Value 110.40 TWDBull138.01 TWD
Price 69.00 TWD · Upside +60.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.1966 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
Residual Income363.34 TWD402.66 TWD453.44 TWD76
Gordon GGM12.78 TWD19.99 TWD24.90 TWD69
DDM Multi-Stage12.78 TWD18.67 TWD21.62 TWD67
All 14 models by family
Earnings-Based
Graham-Dodd18.35 TWD56.68 TWD75.35 TWD65
Lynch FV12.12 TWD17.36 TWD22.61 TWD61
PEG = 1.012.12 TWD17.36 TWD22.61 TWD57
Dividend Discount
Gordon GGM12.78 TWD19.99 TWD24.90 TWD69
DDM Multi-Stage12.78 TWD18.67 TWD21.62 TWD67
Multiples
P/E Multiple57.01 TWD76.01 TWD95.01 TWD63
P/S Multiple34.73 TWD46.20 TWD57.66 TWD57
P/B Multiple1,117 TWD1,489 TWD1,862 TWD55
EV/EBIT35.06 TWD54.71 TWD74.70 TWD63
EV/EBITDA172.33 TWD237.86 TWD303.38 TWD67
EV/Revenue5.57 TWD18.35 TWD31.45 TWD48
Asset-Based
NCAV (Graham)412.49 TWD624.79 TWD781.07 TWD54
Economic Profit
Residual Income363.34 TWD402.66 TWD453.44 TWD76
Growth Earnings
Growth-Adj P/E45.87 TWD65.53 TWD84.86 TWD67
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.55/100
Spin-off in 2012: revenue and profit before it include the divested business. Growth is measured afresh from 2012.
Revenue growth 1 year
+12.6%
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.
−8.2%
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.
+5.8%
Start year 2020 (pandemic). Over 10 years: +6.2% a year
Revenue growth 13 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.
+6.0%
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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.
−47.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−48.1%
Dividend (yield on the price)0.5%
Per share before 2012divided by the spin-off factor 1.018
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.−48.1% vs 2.5%, slowing
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.15% → 6%
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.Semiconductor Equipment & Materials · 235 stocks
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). "Wafer Works Fair Value". https://www.fairvalue-calculator.com/stock/6182
Frequently asked questions
Is Wafer Works (6182) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 110.40 TWD versus a price of 69.00 TWD, about +60% upside (undervalued).
What is the fair value of 6182?
Our model-based fair value for Wafer Works is 110.40 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 69.00 TWD.
What is the quality score of 6182?
Wafer Works has a Quality Score of 43/100. 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 Wafer Works (6182)?
Our model-based price target is the fair value of 110.40 TWD (as of Nov 8, 2026) from 14 valuation models. Cautious scenario 82.80 TWD, optimistic scenario 138.01 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Wafer Works stock forecast for 2026?
Our models put fair value at 110.40 TWD, about +60% upside versus a price of 69.00 TWD (undervalued). Cautious scenario 82.80 TWD, optimistic scenario 138.01 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Wafer Works (6182)?
Wafer Works reported trailing-twelve-month revenue of about 10.2B TWD (latest available figure, as of Nov 8, 2026).
Does Wafer Works pay a dividend?
Wafer Works currently shows a dividend yield of 0.54% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Wafer Works (6182)?
Wafer Works has a dividend yield of 0.5%.
What is the intrinsic value of Wafer Works (6182)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wafer Works it is 110.40 TWD per share (as of Nov 8, 2026), against a price of 69.00 TWD. It is the blended result of 14 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Wafer Works stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 6182 trades below its calculated fair value: price 69.00 TWD, fair value 110.40 TWD, a gap of about +60% (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 6182?
No. The price is what the market pays today (69.00 TWD); the fair value is what the company's own numbers justify (110.40 TWD). For Wafer Works the two are 41.40 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Wafer Works worth?
The market values Wafer Works at about 43.1B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 69.00 TWD; our models calculate a fair value of 110.40 TWD per share.
What do the bullish and bearish scenarios say about 6182?
Our models span a range for Wafer Works: cautious scenario 82.80 TWD, base 110.40 TWD, optimistic 138.01 TWD per share (as of Nov 8, 2026, price 69.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6182?
Wafer Works trades at a price-to-earnings ratio of 300.0 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 110.40 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 29.0. Other multiples: P/B 2.9, P/S 38.0, EV/EBITDA 170.7.
How solid is the balance sheet of Wafer Works (6182)?
Balance-sheet figures for Wafer Works (as of Nov 8, 2026): return on equity 1.6%, debt of 0.49 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 6182 from its 52-week high?
Wafer Works trades at 69.00 TWD, about 64% below its 52-week high of 189.50 TWD and 155% above the low of 27.05 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 110.40 TWD is for.
Which stocks are comparable to Wafer Works?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 Wafer Works stock attractive at the current price?
The data as of Nov 8, 2026: price 69.00 TWD, calculated fair value 110.40 TWD (+60%), Quality Score 43/100, from 14 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 6182 calculated?
We run Wafer Works through 14 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 110.40 TWD builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Wafer Works currently trades 38% 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 Wafer Works (6182)?
The closing price on Nov 6, 2026 was 69.00 TWD. Our model-based fair value is 110.40 TWD, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wafer Works right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (82.80 TWD). The market is more pessimistic than our downside scenario.
Key figures of Wafer Works
How large is the market capitalisation of Wafer Works (6182)?
The market capitalisation of Wafer Works is 43.1B TWD (≈ $1.3B). 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 Wafer Works (6182)?
The price-to-sales ratio of Wafer Works is 3.88 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Wafer Works (6182)?
Earnings per share at Wafer Works are 0.2300 TWD (price ÷ EPS = P/E 300.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Wafer Works (6182)?
The dividend yield of Wafer Works is 0.5% (payout 162%). 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 Wafer Works (6182)?
The net margin of Wafer Works is 1.4% (last twelve months). 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 Wafer Works (6182)?
The return on equity (ROE) of Wafer Works is 1.6% (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 Wafer Works (6182)?
On an EBIT basis the return on assets of Wafer Works is 5.7% (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 Wafer Works (6182)?
The operating margin of Wafer Works is 3.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wafer Works (6182)?
Revenue at Wafer Works is growing +7.4% versus a year earlier (3y avg −8.2%). 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 Wafer Works (6182)?
Earnings per share at Wafer Works are growing −92.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Wafer Works (6182) generate?
The free cash flow of Wafer Works is −7.0B TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Wafer Works (6182) carry?
The net debt of Wafer Works is 4.2B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 8, 2026