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Highlight Tech Corp (6208) Fair Value & Analysis

Industrials · TW · Market cap 7.9B TWD

HT Highlight Tech Corp 6208 · TWO
Price81.70 TWD
Fair Value45.63 TWD
Upside-44.2%
Quality53/100
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Mixed Growth
Thin margins · 9.8% net margin
Low debt · generates free cash flow
2.36% dividend yield
Trails peers (5/14)
Narrow moat 40/100
Evidence: Medium Range 27.15 TWD – 62.06 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 18 days ago

Share price −15.6% over the past month.

A solid business, but screening 44% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (62.06 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (27.15 TWD to 62.06 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

105.50 TWD 33.67 TWD Fair Value 45.63 TWD Feb 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 33.67 TWD – 105.50 TWD · fair‑value band 27.15 TWD – 62.06 TWD · the 81.70 TWD price screens above the 45.63 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Highlight Tech Corp (6208) currently trades at 81.70 TWD, while our model-based Fair Value estimate is 45.63 TWD, implying the stock looks roughly 44.2% overvalued today. The Quality Score stands at 53/100 (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: medium).

Over the trailing twelve months, Highlight Tech Corp generated revenue of 3.7B TWD at a net margin of 9.8%. Revenue declined 10.7% year over year. It earns a return on equity of 11.5%. Net debt stands at 1.9B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 27.15 TWD (bear case) to 62.06 TWD (bull case); at 81.70 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 25% below its 52-week high and 103% 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 -44%, 6208 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 13.16 TWD 20.77 TWD 31.26 TWD 80
Residual Income 27.00 TWD 28.76 TWD 31.14 TWD 76
Rev-Margin DCF 23.92 TWD 43.08 TWD 65.03 TWD 74
All 26 models by family
DCF Models
FCF DCF 12.95 TWD 21.63 TWD 34.39 TWD 38
Owner Earnings 30.12 TWD 47.92 TWD 74.09 TWD 31
5Y Revenue Exit 23.92 TWD 43.40 TWD 68.60 TWD 39
5Y EBITDA Exit 39.70 TWD 73.00 TWD 112.31 TWD 41
5Y P/E Exit 25.09 TWD 45.58 TWD 67.24 TWD 38
10Y Revenue Exit 18.61 TWD 35.16 TWD 57.92 TWD 36
10Y EBITDA Exit 29.48 TWD 55.28 TWD 90.63 TWD 37
10Y P/E Exit 20.36 TWD 36.64 TWD 56.90 TWD 35
Earnings-Based
Graham-Dodd 17.15 TWD 54.20 TWD 72.20 TWD 54
Lynch FV 11.90 TWD 17.00 TWD 22.10 TWD 50
PEG = 1.0 11.90 TWD 17.00 TWD 22.10 TWD 46
EPV 21.60 TWD 25.54 TWD 28.94 TWD 59
Dividend Discount
Gordon GGM 22.63 TWD 45.10 TWD 68.29 TWD 70
DDM Multi-Stage 22.63 TWD 37.03 TWD 47.60 TWD 61
Multiples
P/E Multiple 39.72 TWD 52.96 TWD 66.20 TWD 63
P/S Multiple 32.16 TWD 42.87 TWD 53.59 TWD 58
P/B Multiple 32.16 TWD 42.87 TWD 53.59 TWD 55
EV/EBIT 45.88 TWD 62.30 TWD 78.72 TWD 53
EV/EBITDA 62.04 TWD 83.85 TWD 105.66 TWD 54
EV/Revenue 31.78 TWD 46.85 TWD 61.92 TWD 43
Asset-Based
NCAV (Graham) 16.42 TWD 22.00 TWD 32.84 TWD 50
Growth DCF
Growth DCF 13.16 TWD 20.77 TWD 31.26 TWD 80
Rev-Margin DCF 23.92 TWD 43.08 TWD 65.03 TWD 74
Economic Profit
Residual Income 27.00 TWD 28.76 TWD 31.14 TWD 76
ROIC Compounder 21.60 TWD 25.54 TWD 28.94 TWD 72
Growth Earnings
Growth-Adj P/E 33.02 TWD 47.17 TWD 61.32 TWD 68

Widest divergence: Growth Earnings (47.17 TWD) versus Earnings-Based (17.00 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.7B TWD
Revenue growth (YoY) -10.7%
Net margin 9.8%
Return on equity 11.5%
Free cash flow 142M TWD FY2025
P/E ratio 34.8
More key figures
Operating margin 7.7%
EPS (TTM) 2.50 TWD
Dividend yield 2.4%
EPS growth (YoY) +205%
Net debt 1.9B TWD FY2025

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

Quality Score breakdown

Overall quality 53/100

Of which business quality 51 · Market factors (momentum, volatility) 78

Profitability 33
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 91
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

Highlight Tech Corp. designs, manufactures, sells, retails, wholesales, repairs, and maintains electronic components in Taiwan, Japan, and China.

Full company description

Highlight Tech Corp. designs, manufactures, sells, retails, wholesales, repairs, and maintains electronic components in Taiwan, Japan, and China. It offers cylindrical, box, D shape, spherical, polygon, bell jar, large, and aluminum vacuum chambers, as well as vacuum modules and systems; vacuum chamber kits; ultra-high vacuum chambers; and vacuum poppet, aluminum alloy angle, vacuum gate, vacuum butterfly, rectangular gate, pendulum, teflon coating, vacuum ball, vacuum check, valve and pumping, and metal vacuum valves, as well as vacuum valve kits. The company also provides vacuum components, including elbows-tees-crosses fittings, vacuum flanges, teflon bellows, hydroformed vacuum bellows, centering rings, vacuum clamps, adaptor fittings, vacuum viewports, vacuum feedthroughs, vacuum mold gauge and accessories, as well as KF, ISO, UHV, and CF components; and vacuum pumps comprising edwards turbomolecular, scroll, and refurbished vacuum pumps, and EBARA dry pump repair kits. In addition, it offers local wet scrubber; energy saving heat jacket; perfluoroelastomer O'rings; retails electronic materials and products, mechanical equipment and appliances, and related parts; and sells medical and electrical equipment, optical and precision instruments, semiconductors, automatic solar cell stringer machines, and solar energy and testing equipment. Further, the company provides vacuum pump and valves overhaul services; refurbished vacuum pump services; and optoelectronic process facilities. Additionally, it engages in surface treatment and automatic control equipment engineering; and cleaning business. Highlight Tech Corp. was incorporated in 1997 and is headquartered in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Highlight Tech Corp reported revenue of 3.8B TWD in FY2025 versus 3.3B TWD in FY2021, a compound +3.2%/yr. Reported net income was 238M TWD in FY2025, compounding −11.5%/yr from FY2021.

Growth Quality 65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.8B TWD
Latest YoY
−4.6%
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.
−1.3%
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.
+7.9%
Avg. growth/yr (8Y) 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.
+10.5%
Revenue +3.2%/yr
FY21 3.3B TWD
FY22 3.9B TWD
FY23 4.2B TWD
FY24 3.9B TWD
FY25 3.8B TWD
Net income −11.5%/yr
FY21 388M TWD
FY22 495M TWD
FY23 357M TWD
FY24 323M TWD
FY25 238M TWD

6208 screens 44% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Highlight Tech Corp Fair Value". https://www.fairvalue-calculator.com/stock/6208

Peer Group

Specialty Industrial Machinery · 808 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 53 · Below median
Fair Value upside −44% · Below median
Return on equity (TTM) 11% · Above median
Return on assets 3% · Below median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 8% · Below median
Revenue growth -11% · Bottom 25%
Dividend yield (TTM) 2.4% · Above median
Debt / equity 0.41× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 33.3× · Pricier than median
P/B 2.54× · Pricier than median
P/S (TTM) 2.15× · Pricier than median
P/FCF 1.7× · Cheaper than median
EV/EBITDA 15.1× · Cheaper than median

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 0 · sector 23
PAST 46 · sector 28
HEALTH 80 · sector 96
DIVIDEND 47 · sector 24

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

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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 Highlight Tech Corp (6208) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 45.63 TWD versus a price of 81.70 TWD, about −44% (overvalued).
What is the fair value of 6208?
Our model-based fair value for Highlight Tech Corp is 45.63 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 81.70 TWD.
What is the quality score of 6208?
Highlight Tech Corp has a Quality Score of 53/100. 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 Highlight Tech Corp (6208)?
Highlight Tech Corp reported trailing-twelve-month revenue of about 3.7B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6208?
The net profit margin of Highlight Tech Corp is about 9.8%, meaning it keeps roughly 9.8% of revenue as net income. Based on the latest reported figures.
Does Highlight Tech Corp pay a dividend?
Highlight Tech Corp currently shows a dividend yield of about 2.36% relative to its recent price (as of Jul 23, 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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