Wafer Works (6182) fair value: what the stock is really worth
We calculate from audited financials what Wafer Works is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Below-average quality, trading 30% below our fair value of 154.94 TWD.
As of Sep 5, 2026, the fair value of Wafer Works is 154.94 TWD per share against a price of 108.50 TWD, so the fair value sits 43% above the price. A model estimate from reported figures, not an analyst target.
!Weak Growth (revenue 5y +5.8 %/yr)
!Thin margins · 0.3% net margin
!Low debt · negative free cash flow
!Trails peers (4/12)
!Narrow moat 22/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 6 out of 100
!Weak on dividend: 14 out of 100
Evidence: MediumRange 116.36 TWD to 193.52 TWD
Fair value as of: Sep 5, 2026
From 16 valuation models · updated 6 days ago
Fair value updated Sep 5, 2026, revised from 78.80 TWD to 154.94 TWD (+96.6%) since Aug 13, 2026. Share price +15.4% over the past month.
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What matters now
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
The price is below even our cautious bear case (116.36 TWD). The market is more pessimistic than our downside scenario.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range 15.85 TWD – 189.50 TWD · fair‑value band 116.36 TWD – 193.52 TWD · the 108.50 TWD price screens below the 154.94 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. Dashed = 300-day average. As of Sep 5, 2026.
Wafer Works (6182) currently trades at 108.50 TWD, while our model-based Fair Value estimate is 154.94 TWD, implying the stock looks roughly 30.0% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Technology sector. Bull case: the Asset-Based group reads highest at a median of 536.91 TWD per share, and 7 of the 16 models we run sit above the 108.50 TWD price. Bear case: the Earnings-Based group reads lowest at 17.71 TWD, and 9 of the 16 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Wafer Works 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 Sep 5, 2026
Scenario range: 116.36 TWD (bear) to 193.52 TWD (bull), the price of 108.50 TWD sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a 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 −71% fair-value upside, at 43%, 6182 screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (0.0624 TWD per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
Residual Income best evidence539.76 TWD501.18 TWD342.77 TWD76
EV/EBITDA1,656 TWD2,254 TWD2,851 TWD67
Growth-Adj P/E46.48 TWD66.40 TWD86.32 TWD67
All 16 models by family
Earnings-Based
Graham-Dodd18.66 TWD57.87 TWD76.84 TWD65
Lynch FV12.33 TWD17.71 TWD23.08 TWD61
PEG = 1.012.33 TWD17.71 TWD23.08 TWD57
EPV6.96 TWD30.67 TWD51.54 TWD66
Dividend Discount
Gordon GGM172.65 TWD358.89 TWD569.17 TWD66
DDM Multi-Stage172.65 TWD283.64 TWD376.60 TWD66
Multiples
P/E Multiple58.18 TWD77.47 TWD96.76 TWD63
P/S Multiple35.10 TWD47.11 TWD58.81 TWD58
P/B Multiple35.10 TWD47.11 TWD58.81 TWD55
EV/EBIT405.37 TWD585.93 TWD766.48 TWD65
EV/EBITDA1,656 TWD2,254 TWD2,851 TWD67
EV/Revenue137.55 TWD254.86 TWD372.17 TWD52
Asset-Based
NCAV (Graham)400.63 TWD536.91 TWD801.26 TWD54
Economic Profit
Residual Income best evidence539.76 TWD501.18 TWD342.77 TWD76
ROIC Compounder6.96 TWD30.67 TWD51.54 TWD66
Growth Earnings
Growth-Adj P/E46.48 TWD66.40 TWD86.32 TWD67
Widest divergence: Asset-Based (536.91 TWD) versus Earnings-Based (17.71 TWD). Highest evidence: Residual Income (76).
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Key figures & financial health
P/S ratio11.3TTM
EPS (TTM)0.0900 TWD
Dividend yield0.7%
Net margin0.5%FY2025
Return on equity1.6%TTM
Return on assets (EBIT)5.7%avg 5y
More key figures
Profitability
Operating margin1.1%TTM
Growth
Revenue (TTM)10.0B TWDTTM
Revenue growth (YoY)+7.5%3y avg −8.2%
EPS growth (YoY)−92.7%
Balance sheet & cash flow
Free cash flow−7.0B TWDFY2025
Net debt4.2B TWDFY2025
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality41/100
Of which business quality 43
· Market factors (momentum, volatility) 60
Profitability14
Margins and returns on capital today
Quality Growth42
Are margins and returns improving?
Cashflow40
Earnings quality: real cash, not paper profit
Fin. Strength57
Balance sheet, leverage, solvency risk
Investment40
Disciplined investing over empire-building
Low Volatility4
Calm price path (market factor)
Momentum88
Price trend over the last 3–12 months (market factor)
52W Momentum75
Distance to the 52-week high (market factor)
Net Issuance73
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
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 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
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
9.8B TWD
Latest YoY
+12.6%
Avg. revenue 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.
−8.2%
Avg. revenue 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.
+5.8%
Avg. revenue 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.
+8.7%
Value creation/yr (5Y, in TWD) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
−47.4%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−48.1%
Dividend yield0.7%
Trend ⓘ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.5Y −48.1% vs 10Y 2.5%, flattening
Operating margin (EBIT) ⓘ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.15.1% (2020) → 5.8% (2025) · falling
Worst earnings drop2,846% (2016) (loss year, drop beyond 100%) · in TWD
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.
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.
This stockSector peers
VALUE90· sector 0
FUTURE38· sector 63
PAST6· sector 30
HEALTH76· sector 96
DIVIDEND14· sector 17
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
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As of Sep 5, 2026, our model estimates a fair value of 154.94 TWD versus a price of 108.50 TWD, about +43% upside (undervalued).
What is the fair value of 6182?
Our model-based fair value for Wafer Works is 154.94 TWD (as of Sep 5, 2026), built from audited fundamentals. The current price: 108.50 TWD.
What is the quality score of 6182?
Wafer Works 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 price target for Wafer Works (6182)?
Our model-based price target is the fair value of 154.94 TWD (as of Sep 5, 2026) from 16 valuation models. Cautious scenario 116.36 TWD, optimistic scenario 193.52 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 154.94 TWD, about +43% upside versus a price of 108.50 TWD (undervalued). Cautious scenario 116.36 TWD, optimistic scenario 193.52 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 10.0B TWD (latest available figure, as of Sep 5, 2026).
What is the net profit margin of 6182?
The net profit margin of Wafer Works is about 0.3%, meaning it keeps roughly 0.3% of revenue as net income. Based on the latest reported figures.
Does Wafer Works pay a dividend?
Wafer Works currently shows a dividend yield of about 0.70% relative to its recent price (as of Sep 5, 2026).
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 154.94 TWD per share (as of Sep 5, 2026), against a price of 108.50 TWD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Wafer Works stock overvalued or undervalued in 2026?
As of Sep 5, 2026, 6182 trades below its calculated fair value: price 108.50 TWD, fair value 154.94 TWD, a gap of about +43% (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 (108.50 TWD); the fair value is what the company's own numbers justify (154.94 TWD). For Wafer Works the two are 46.44 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 112B TWD (market capitalisation, as of Sep 5, 2026). Per share that is 108.50 TWD; our models calculate a fair value of 154.94 TWD per share.
What do the bullish and bearish scenarios say about 6182?
Our models span a range for Wafer Works: cautious scenario 116.36 TWD, base 154.94 TWD, optimistic 193.52 TWD per share (as of Sep 5, 2026, price 108.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Wafer Works (6182)?
Balance-sheet figures for Wafer Works (as of Sep 5, 2026): return on equity 1.6%, debt of 0.49 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 6182 from its 52-week high?
Wafer Works trades at 108.50 TWD, about 7% below its 52-week high of 101.50 TWD and 456% above the low of 19.50 TWD (as of Sep 5, 2026). Distance from the high says nothing about value: that is what the fair value of 154.94 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 Sep 5, 2026: price 108.50 TWD, calculated fair value 154.94 TWD (+43%), Quality Score 41/100, from 16 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 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 154.94 TWD, 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 32.6 % above its aggregate fair value. Wafer Works currently trades 43 % 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 <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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