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All Ring Tech Co (6187) Fair Value & Analysis

Industrials · TW · Market cap 94.9B TWD

AR All Ring Tech Co 6187 · TWO
Price1,130 TWD
Fair Value259.50 TWD
Upside-77.0%
Quality63/100
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Mixed Growth
Highly profitable · 26.5% net margin
Low debt · generates free cash flow
1.09% dividend yield
Mixed vs. peers (8/14)
Wide moat 76/100
Evidence: High Range 194.62 TWD – 331.97 TWD Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 23 days ago

Share price +18.3% over the past month.

A solid business, but screening 77% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (331.97 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

1,390 TWD 51.53 TWD Fair Value 259.50 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 51.53 TWD – 1,390 TWD · fair‑value band 194.62 TWD – 331.97 TWD · the 1,130 TWD price screens above the 259.50 TWD fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

All Ring Tech Co (6187) currently trades at 1,130 TWD, while our model-based Fair Value estimate is 259.50 TWD, implying the stock looks roughly 77.0% overvalued today. The Quality Score stands at 63/100 (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, All Ring Tech Co generated revenue of 5.5B TWD at a net margin of 26.5%. Revenue grew 13.2% year over year. It earns a return on equity of 21.4%. The balance sheet holds a net cash position of 46.4M TWD. Fundamentals as of Jul 17, 2026

Our scenario range runs from 194.62 TWD (bear case) to 331.97 TWD (bull case); at 1,130 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 24% below its 52-week high and 267% 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 -77%, 6187 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 BearBaseBull Evidence
Highest evidence
Growth DCF 272.17 TWD 501.31 TWD 876.79 TWD 80
Residual Income 97.63 TWD 120.48 TWD 354.67 TWD 76
Rev-Margin DCF 170.78 TWD 261.21 TWD 443.08 TWD 74
All 26 models by family
DCF Models
FCF DCF 286.87 TWD 428.74 TWD 880.52 TWD 38
Owner Earnings 204.98 TWD 416.08 TWD 859.23 TWD 31
5Y Revenue Exit 163.44 TWD 232.99 TWD 376.80 TWD 39
5Y EBITDA Exit 234.22 TWD 376.10 TWD 654.04 TWD 41
5Y P/E Exit 288.78 TWD 598.69 TWD 1,021 TWD 38
10Y Revenue Exit 198.30 TWD 339.31 TWD 413.68 TWD 36
10Y EBITDA Exit 253.10 TWD 491.71 TWD 900.17 TWD 37
10Y P/E Exit 292.92 TWD 609.22 TWD 1,130 TWD 35
Earnings-Based
Graham-Dodd 103.80 TWD 723.88 TWD 1,016 TWD 54
Lynch FV 324.08 TWD 462.97 TWD 601.87 TWD 50
PEG = 1.0 324.08 TWD 462.97 TWD 601.87 TWD 46
EPV 181.30 TWD 204.93 TWD 225.61 TWD 59
Dividend Discount
Gordon GGM 92.48 TWD 192.29 TWD 305.05 TWD 70
DDM Multi-Stage 92.48 TWD 162.15 TWD 201.82 TWD 61
Multiples
P/E Multiple 240.42 TWD 320.56 TWD 400.70 TWD 63
P/S Multiple 82.73 TWD 110.31 TWD 137.88 TWD 58
P/B Multiple 194.62 TWD 259.50 TWD 324.37 TWD 55
EV/EBIT 250.42 TWD 320.73 TWD 391.04 TWD 53
EV/EBITDA 207.66 TWD 263.72 TWD 319.77 TWD 54
EV/Revenue 108.99 TWD 138.77 TWD 168.56 TWD 43
Asset-Based
NCAV (Graham) 37.51 TWD 50.26 TWD 75.02 TWD 50
Growth DCF
Growth DCF 272.17 TWD 501.31 TWD 876.79 TWD 80
Rev-Margin DCF 170.78 TWD 261.21 TWD 443.08 TWD 74
Economic Profit
Residual Income 97.63 TWD 120.48 TWD 354.67 TWD 76
ROIC Compounder 222.26 TWD 314.92 TWD 441.18 TWD 72
Growth Earnings
Growth-Adj P/E 435.88 TWD 622.68 TWD 809.48 TWD 68

Widest divergence: Growth Earnings (622.68 TWD) versus Asset-Based (50.26 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 5.5B TWD
Revenue growth (YoY) +13.2%
Net margin 26.5%
Return on equity 21.4%
Free cash flow 1.4B TWD FY2025
P/E ratio 73.0
More key figures
Operating margin 23.2%
EPS (TTM) 15.34 TWD
Dividend yield 1.1%
EPS growth (YoY) -15.7%
Net cash 46.4M TWD FY2023

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 66 · Market factors (momentum, volatility) 65

Profitability 70
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 19
Disciplined investing over empire-building
Low Volatility 25
Calm price path (market factor)
Momentum 79
Price trend over the last 3–12 months (market factor)
52W Momentum 85
Distance to the 52-week high (market factor)
Net Issuance 60
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

All Ring Tech Co., Ltd. engages in the design, manufacture, and assembly of automation machines in Taiwan and China. The company offers semiconductor dispensing equipment series, including wafer level underfill dispensing machine, underfill dispensing machine, and dispensing machine; bonding series comprising FPC, PSA, optical, and ACF mounter; AOI machines …

Full company description

All Ring Tech Co., Ltd. engages in the design, manufacture, and assembly of automation machines in Taiwan and China. The company offers semiconductor dispensing equipment series, including wafer level underfill dispensing machine, underfill dispensing machine, and dispensing machine; bonding series comprising FPC, PSA, optical, and ACF mounter; AOI machines for microchip insertion, solder balling, and six sides, as well as wafer AOI machine and image measurement machine; and loader/unloader, ball mount machine, and glue coating/heat sink attach machine. It also provides cutting, rotary plating, coil winding, resistor stacking, resistor granulating, and PC rolling machine, as well as power inductor dispenser; LED sorting machine, rotary tower sorting, packaging, rolling, and dispensing machine; and CSP cleaving machine. In addition, the company is involved in research, development, and design of computer software; mechanical engineering automation; manufacturing of passive component, light-emitting diode, other machine, electrical appliances, and audio-visual electronics; manufacturing of specialized electronic equipment; testing of instruments and accessories; international trading; and investment business, as well as sale of self- manufactured products and provision of corresponding technology testing services. All Ring Tech Co., Ltd. was incorporated in 1996 and is headquartered in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

All Ring Tech Co reported revenue of 5.4B TWD in FY2025 versus 2.6B TWD in FY2021, a compound +19.8%/yr. Reported net income was 1.5B TWD in FY2025, compounding +28.7%/yr from FY2021.

Growth Quality 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
5.4B TWD
Latest YoY
−3.0%
Avg. growth/yr (3Y)
+33.6%
Avg. growth/yr (5Y)
+28.9%
Avg. growth/yr (8Y)
+14.1%
Revenue +19.8%/yr
FY21 2.6B TWD
FY22 2.2B TWD
FY23 1.2B TWD
FY24 5.5B TWD
FY25 5.4B TWD
Net income +28.7%/yr
FY21 541M TWD
FY22 499M TWD
FY23 138M TWD
FY24 1.3B TWD
FY25 1.5B TWD

6187 screens 77% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "All Ring Tech Co Fair Value". https://www.fairvalue-calculator.com/stock/6187

Peer Group

Specialty Industrial Machinery · 809 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 63 · Top 25%
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 27% · Top 25%
Operating margin (TTM) 23% · Top 25%
Revenue growth 13% · Above median
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 63.4× · Pricier than 75% of peers
P/B 13.00× · Pricier than 75% of peers
P/S (TTM) 17.15× · Pricier than 75% of peers
P/FCF 2.1× · Cheaper than median
EV/EBITDA 57.9× · Pricier 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 0 · sector 0
FUTURE 66 · sector 23
PAST 85 · sector 28
HEALTH 98 · sector 96
DIVIDEND 22 · sector 24

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is All Ring Tech Co (6187) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 259.50 TWD versus a price of 1,130 TWD, about −77% (overvalued).
What is the fair value of 6187?
Our model-based fair value for All Ring Tech Co is 259.50 TWD (as of Jul 17, 2026), built from audited fundamentals. The current price is 1,130 TWD.
What is the quality score of 6187?
All Ring Tech Co has a Quality Score of 63/100. 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 All Ring Tech Co (6187)?
All Ring Tech Co reported trailing-twelve-month revenue of about 5.5B TWD (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 6187?
The net profit margin of All Ring Tech Co is about 26.5%, meaning it keeps roughly 26.5% of revenue as net income. Based on the latest reported figures.
Does All Ring Tech Co pay a dividend?
All Ring Tech Co currently shows a dividend yield of about 1.06% relative to its recent price (as of Jul 17, 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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