Holtek Semiconductor Inc (6202) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Holtek Semiconductor Inc stock TWD 35.94, price TWD 45.30, that is 20.7% below the price, quality 70 out of 100. Rating: overvalued. Calculated from audited financials with 24 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 4, 2026.
How to read this chart
60‑month range 33.00 TWD – 118.42 TWD · fair‑value band 31.42 TWD – 42.70 TWD · the 45.30 TWD price screens above the 35.94 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Holtek Semiconductor Inc. engages in the research, development, production, and sale of integrated circuits in Taiwan, China, and internationally.
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The company provides a range of general purpose and specialized types of microcontrollers (MCU) for use in the areas of voice, communication, computer peripheral, household appliance, medical equipment, automotive, and industrial control and security surveillance; and power management devices, LCD and LED drive/control chips, ultra-high resolution fingerprint identification sensors, and various sensor modules.
It's MCU products are used for general purpose, motor MCU and peripheral, health and measurement, security and safety, battery and power management, touch/proximity and peripheral, music and voice, special purpose, wireless, power management, display, special purpose, module, amplifier and comparator, interface bridge, and miscellaneous applications.
The company was incorporated in 1998 and is headquartered in Hsinchu City, Taiwan.
Stock analysis
Holtek Semiconductor Inc (6202) currently trades at 45.30 TWD, while our model-based Fair Value estimate is 35.94 TWD, 21% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 18.81 TWD per share, and 1 of the 24 models we run sit above the 45.30 TWD price.
Bear case: the Earnings-Based group reads lowest at 8.09 TWD, and 23 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 31.42 TWD (bear) to 42.70 TWD (bull), the price of 45.30 TWD sits above 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 70/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Holtek Semiconductor Inc reported revenue of 3.1B TWD in FY2025 versus 7.1B TWD in FY2021, a compound −19.1%/yr. Reported net income was 173M TWD in FY2025, compounding −46.0%/yr from FY2021.
Key figures
Market cap 10.8B TWD (≈ $328M) Small · P/E ratio 26.8 · P/S ratio 3.03 · EPS (TTM) 1.69 TWD · Dividend yield 1.5% · Net margin 11.0% · Return on equity 10.0% · Return on assets (EBIT) 7.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at −21%, 6202 screens richer than that median.
Fair Value models
Bear31.42 TWDFair Value 35.94 TWDBull42.70 TWD
Price 45.30 TWD · Downside -20.7%
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 (0.8661 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
FCF DCF15.48 TWD17.87 TWD21.76 TWD82
Growth DCF15.71 TWD17.97 TWD21.35 TWD80
Owner Earnings13.47 TWD15.33 TWD18.35 TWD78
All 24 models by family
DCF Models
FCF DCF15.48 TWD17.87 TWD21.76 TWD82
Owner Earnings13.47 TWD15.33 TWD18.35 TWD78
5Y Revenue Exit12.77 TWD14.55 TWD17.12 TWD74
5Y EBITDA Exit17.66 TWD23.01 TWD30.09 TWD76
5Y P/E Exit17.91 TWD23.44 TWD30.04 TWD72
10Y Revenue Exit13.92 TWD15.22 TWD16.52 TWD68
10Y EBITDA Exit16.57 TWD19.74 TWD23.10 TWD70
10Y P/E Exit16.71 TWD19.97 TWD23.07 TWD65
Earnings-Based
Graham-Dodd5.12 TWD6.26 TWD7.05 TWD67
EPV9.54 TWD9.91 TWD10.22 TWD74
Dividend Discount
Gordon GGM3.14 TWD3.36 TWD3.69 TWD69
DDM Multi-Stage3.14 TWD3.66 TWD4.30 TWD67
Multiples
P/E Multiple15.82 TWD21.10 TWD26.37 TWD63
P/S Multiple9.61 TWD12.81 TWD16.01 TWD58
P/B Multiple45.14 TWD60.19 TWD75.23 TWD55
EV/EBIT11.78 TWD14.57 TWD17.36 TWD66
EV/EBITDA18.69 TWD23.78 TWD28.87 TWD67
EV/Revenue7.64 TWD9.46 TWD11.27 TWD54
Asset-Based
NCAV (Graham)8.23 TWD12.47 TWD15.59 TWD54
Growth DCF
Growth DCF15.71 TWD17.97 TWD21.35 TWD80
Rev-Margin DCF12.77 TWD14.80 TWD17.40 TWD74
Economic Profit
Residual Income11.89 TWD11.83 TWD12.07 TWD76
ROIC Compounder9.54 TWD9.91 TWD10.22 TWD72
Growth Earnings
Growth-Adj P/E11.07 TWD15.81 TWD20.56 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+22.2%
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.
−20.2%
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.
−11.4%
Start year 2020 (pandemic). Over 10 years: −2.6% a year
Revenue growth 23 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.
−0.4%
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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.
−28.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−30.1%
Dividend (yield on the price)1.5%
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.−30.1% vs −14.1%, 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.23% → 4%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 4.0%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+24.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +22.8% a year for the price.
Compare Holtek Semiconductor Inc with another stock
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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.Semiconductors · 369 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside−20.7% · Above median
Profitability
Return on equity (12 months)10.0% · Above median
Return on assets3.1% · Above median
Net margin (12 months)11.0% · Above median
Operating margin (12 months)12.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)41.6% · Above median
Dividend yield (12 months)1.5% · Above median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (12 months)26.8× · Cheaper than median
P/B2.75× · Cheaper than median
P/S (12 months)3.03× · Cheaper than median
Price / free cash flow (fiscal year)40.9× · Pricier than median
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Is Holtek Semiconductor Inc (6202) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 35.94 TWD versus a price of 45.30 TWD, about 21% lower (overvalued).
What is the fair value of 6202?
Our model-based fair value for Holtek Semiconductor Inc is 35.94 TWD (as of Nov 4, 2026), built from audited fundamentals. The current price: 45.30 TWD.
What is the quality score of 6202?
Holtek Semiconductor Inc has a Quality Score of 70/100. 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 Holtek Semiconductor Inc (6202)?
Our model-based price target is the fair value of 35.94 TWD (as of Nov 4, 2026) from 24 valuation models. Cautious scenario 31.42 TWD, optimistic scenario 42.70 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Holtek Semiconductor Inc stock forecast for 2026?
Our models put fair value at 35.94 TWD, about 21% lower versus a price of 45.30 TWD (overvalued). Cautious scenario 31.42 TWD, optimistic scenario 42.70 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Holtek Semiconductor Inc (6202)?
Holtek Semiconductor Inc reported trailing-twelve-month revenue of about 3.6B TWD (latest available figure, as of Nov 4, 2026).
Does Holtek Semiconductor Inc pay a dividend?
Holtek Semiconductor Inc currently shows a dividend yield of 1.50% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Holtek Semiconductor Inc (6202) and when is the ex-dividend date?
Holtek Semiconductor Inc pays a dividend of 0.68 TWD per share a year, a dividend yield of 1.5%. The last ex-dividend date was Aug 13, 2026. The payout ratio is 40.2% of earnings. Free cash flow covers the dividend 1.69 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Holtek Semiconductor Inc (6202)?
For today's price to be fair in a discounted-cash-flow model, Holtek Semiconductor Inc would have to grow free cash flow by +24.7 % per year for five years (discount rate 12.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -11.4 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of 6202 use?
Our models discount Holtek Semiconductor Inc at 12.2 %: a base by market capitalisation (small), damped by beta 1.15, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Holtek Semiconductor Inc that is +24.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.2 %) and the same formula as our fair value.
How much growth has Holtek Semiconductor Inc (6202) delivered so far?
Over the past 5 years revenue at Holtek Semiconductor Inc grew -11.4 % a year. The price currently implies free-cash-flow growth of +24.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Holtek Semiconductor Inc (6202) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Holtek Semiconductor Inc (+24.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Holtek Semiconductor Inc (6202)?
The free-cash-flow yield on the price is 2.45 %: that much free cash flow Holtek Semiconductor Inc produces per unit of market value. When it exceeds the discount rate of our models (12.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Holtek Semiconductor Inc (6202)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Holtek Semiconductor Inc it is 35.94 TWD per share (as of Nov 4, 2026), against a price of 45.30 TWD. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Holtek Semiconductor Inc stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 6202 trades above its calculated fair value: price 45.30 TWD, fair value 35.94 TWD, a gap of about −21% (overvalued). 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 6202?
No. The price is what the market pays today (45.30 TWD); the fair value is what the company's own numbers justify (35.94 TWD). For Holtek Semiconductor Inc the two are 9.36 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Holtek Semiconductor Inc worth?
The market values Holtek Semiconductor Inc at about 10.8B TWD (market capitalisation, as of Nov 4, 2026). Per share that is 45.30 TWD; our models calculate a fair value of 35.94 TWD per share.
What do the bullish and bearish scenarios say about 6202?
Our models span a range for Holtek Semiconductor Inc: cautious scenario 31.42 TWD, base 35.94 TWD, optimistic 42.70 TWD per share (as of Nov 4, 2026, price 45.30 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6202?
Holtek Semiconductor Inc trades at a price-to-earnings ratio of 26.8 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 35.94 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 16.1. Other multiples: P/B 2.8, P/S 3.0, EV/EBITDA 22.9.
How solid is the balance sheet of Holtek Semiconductor Inc (6202)?
Balance-sheet figures for Holtek Semiconductor Inc (as of Nov 4, 2026): return on equity 10.0%, debt of 0.00 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is 6202 from its 52-week high?
Holtek Semiconductor Inc trades at 45.30 TWD, about 39% below its 52-week high of 73.70 TWD and 25% above the low of 36.20 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 35.94 TWD is for.
Which stocks are comparable to Holtek Semiconductor Inc?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, Inc, 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 Holtek Semiconductor Inc stock attractive at the current price?
The data as of Nov 4, 2026: price 45.30 TWD, calculated fair value 35.94 TWD (−21%), Quality Score 70/100, from 24 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 6202 calculated?
We run Holtek Semiconductor Inc through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 35.94 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 13.3% above its aggregate fair value. Holtek Semiconductor Inc itself currently trades above fair value. 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 Holtek Semiconductor Inc (6202)?
The closing price on Nov 9, 2026 was 45.30 TWD. Our model-based fair value is 35.94 TWD, about 21% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Holtek Semiconductor Inc right now?
The price sits above even our optimistic bull case (42.70 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (70/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Holtek Semiconductor Inc
How large is the market capitalisation of Holtek Semiconductor Inc (6202)?
The market capitalisation of Holtek Semiconductor Inc is 10.8B TWD (≈ $328M). 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 Holtek Semiconductor Inc (6202)?
The price-to-sales ratio of Holtek Semiconductor Inc is 3.03 (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 Holtek Semiconductor Inc (6202)?
Earnings per share at Holtek Semiconductor Inc are 1.69 TWD (price ÷ EPS = P/E 26.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Holtek Semiconductor Inc (6202)?
The dividend yield of Holtek Semiconductor Inc is 1.5% (payout 40.2%). 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 Holtek Semiconductor Inc (6202)?
The net margin of Holtek Semiconductor Inc is 11.0% (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 Holtek Semiconductor Inc (6202)?
The return on equity (ROE) of Holtek Semiconductor Inc is 10.0% (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 Holtek Semiconductor Inc (6202)?
On an EBIT basis the return on assets of Holtek Semiconductor Inc is 7.6% (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 Holtek Semiconductor Inc (6202)?
The operating margin of Holtek Semiconductor Inc is 12.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Holtek Semiconductor Inc (6202)?
Revenue at Holtek Semiconductor Inc is growing +41.6% versus a year earlier (3y avg −20.2%). 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 Holtek Semiconductor Inc (6202)?
Earnings per share at Holtek Semiconductor Inc are growing +416% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Holtek Semiconductor Inc (6202) hold?
Holtek Semiconductor Inc holds more cash than debt, 785M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 4, 2026