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Holtek Semiconductor Inc (6202) Fair Value & Analysis

Technology · TW · Market cap 12.9B TWD

HS Holtek Semiconductor Inc 6202 · TW
Price63.80 TWD
Fair Value25.62 TWD
Upside-59.8%
Quality71/100
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Weak Growth
Thin margins · 4.8% net margin
Low debt · generates free cash flow
Trails peers (3/13)
Narrow moat 28/100
Evidence: High Range 19.38 TWD – 32.02 TWD Share as image

Fair value as of: Jul 23, 2026

From 24 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 12.81 TWD to 25.62 TWD (+100.0%) since Jul 12, 2026. Share price −13.0% over the past month.

A solid business, but screening 60% overvalued on our models.

What matters now

  • A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (32.02 TWD). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

118.42 TWD 33.00 TWD Fair Value 25.62 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 33.00 TWD – 118.42 TWD · fair‑value band 19.38 TWD – 32.02 TWD · the 63.80 TWD price screens above the 25.62 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Holtek Semiconductor Inc (6202) currently trades at 63.80 TWD, while our model-based Fair Value estimate is 25.62 TWD, implying the stock looks roughly 59.8% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Technology 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, Holtek Semiconductor Inc generated revenue of 3.1B TWD at a net margin of 4.8%. Revenue grew 8.5% year over year. It earns a return on equity of 4.2%. The balance sheet holds a net cash position of 785M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 19.38 TWD (bear case) to 32.02 TWD (bull case); at 63.80 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 3% below its 52-week high and 78% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -60%, 6202 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 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. Evidence
Highest evidence
Growth DCF 18.15 TWD 22.40 TWD 29.66 TWD 80
Residual Income 12.93 TWD 13.03 TWD 12.16 TWD 76
Rev-Margin DCF 13.16 TWD 15.47 TWD 18.40 TWD 74
All 24 models by family
DCF Models
FCF DCF 17.63 TWD 22.01 TWD 30.11 TWD 38
Owner Earnings 15.36 TWD 18.84 TWD 25.29 TWD 31
5Y Revenue Exit 13.16 TWD 15.20 TWD 18.15 TWD 39
5Y EBITDA Exit 16.58 TWD 21.12 TWD 27.14 TWD 41
5Y P/E Exit 16.73 TWD 21.37 TWD 26.93 TWD 38
10Y Revenue Exit 14.72 TWD 16.40 TWD 18.10 TWD 36
10Y EBITDA Exit 16.91 TWD 20.06 TWD 23.38 TWD 37
10Y P/E Exit 16.99 TWD 20.21 TWD 23.26 TWD 35
Earnings-Based
Graham-Dodd 5.12 TWD 6.26 TWD 7.05 TWD 54
EPV 10.47 TWD 11.14 TWD 11.72 TWD 59
Dividend Discount
Gordon GGM 4.06 TWD 4.45 TWD 5.03 TWD 70
DDM Multi-Stage 4.06 TWD 5.10 TWD 6.55 TWD 61
Multiples
P/E Multiple 11.30 TWD 15.07 TWD 18.84 TWD 63
P/S Multiple 9.61 TWD 12.81 TWD 16.01 TWD 58
P/B Multiple 9.61 TWD 12.81 TWD 16.01 TWD 55
EV/EBIT 12.76 TWD 14.86 TWD 16.95 TWD 53
EV/EBITDA 17.52 TWD 21.20 TWD 24.88 TWD 54
EV/Revenue 10.72 TWD 12.53 TWD 14.35 TWD 43
Asset-Based
NCAV (Graham) 8.52 TWD 11.42 TWD 17.04 TWD 50
Growth DCF
Growth DCF 18.15 TWD 22.40 TWD 29.66 TWD 80
Rev-Margin DCF 13.16 TWD 15.47 TWD 18.40 TWD 74
Economic Profit
Residual Income 12.93 TWD 13.03 TWD 12.16 TWD 76
ROIC Compounder 10.47 TWD 11.14 TWD 11.72 TWD 72
Growth Earnings
Growth-Adj P/E 8.00 TWD 11.42 TWD 14.85 TWD 68

Widest divergence: DCF Models (20.06 TWD) versus Dividend Discount (4.45 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.1B TWD
Revenue growth (YoY) +8.5%
Net margin 4.8%
Return on equity 4.2%
Free cash flow 264M TWD FY2025
P/E ratio 78.2
More key figures
Operating margin 6.7%
EPS (TTM) 0.7600 TWD
EPS growth (YoY) -25.7%
Net cash 785M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 70 · Market factors (momentum, volatility) 68

Profitability 33
Margins and returns on capital today
Quality Growth 89
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 35
Calm price path (market factor)
Momentum 85
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 75
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

Holtek Semiconductor Inc. engages in the research, development, production, and sale of integrated circuits in Taiwan, China, and internationally.

Full company description

Holtek Semiconductor Inc. engages in the research, development, production, and sale of integrated circuits in Taiwan, China, and internationally. 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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.1B TWD
Latest YoY
+22.2%
Avg. 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.
−20.2%
Avg. 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.
−11.4%
Avg. 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.
−0.4%
Revenue −19.1%/yr
FY21 7.1B TWD
FY22 6.0B TWD
FY23 2.6B TWD
FY24 2.5B TWD
FY25 3.1B TWD
Net income −46.0%/yr
FY21 2.0B TWD
FY22 1.1B TWD
FY23 112M TWD
FY24 −150M TWD
FY25 173M TWD

6202 screens 60% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "Holtek Semiconductor Inc Fair Value". https://www.fairvalue-calculator.com/stock/6202

Peer Group

Semiconductors · 318 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 71 · Top 25%
Fair Value upside −60% · Below median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth 9% · Below median
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 73.9× · Pricier than median
P/B 3.30× · Pricier than median
P/S (TTM) 4.14× · Pricier than median
P/FCF 1.5× · Cheaper than median
EV/EBITDA 60.0× · 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 43 · sector 60
PAST 17 · sector 25
HEALTH 100 · sector 97
DIVIDEND 0 · sector 22

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

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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc 1MU €784.90 €185.67 -76%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is Holtek Semiconductor Inc (6202) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 25.62 TWD versus a price of 63.80 TWD, about −60% (overvalued).
What is the fair value of 6202?
Our model-based fair value for Holtek Semiconductor Inc is 25.62 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 63.80 TWD.
What is the quality score of 6202?
Holtek Semiconductor Inc has a Quality Score of 71/100. 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 Holtek Semiconductor Inc (6202)?
Holtek Semiconductor Inc reported trailing-twelve-month revenue of about 3.1B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6202?
The net profit margin of Holtek Semiconductor Inc is about 4.8%, meaning it keeps roughly 4.8% 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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