MPI Corporation (6223) Fair Value & Analysis
Technology · TW · Market cap 549B TWD
Fair value as of: Jul 17, 2026
From 16 valuation models · updated today
Share price −12.5% over the past month.
Price vs Fair Value (12 months)
12‑month range 990.61 TWD – 7,355 TWD · fair‑value band 426.61 TWD – 763.26 TWD · the 5,600 TWD price screens above the 609.44 TWD fair value. As of Jul 17, 2026.
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MPI Corporation (6223) currently trades at 5,600 TWD, while our model-based Fair Value estimate is 609.44 TWD, implying the stock looks roughly 89.1% overvalued today. We read business quality at 59/100 (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, MPI Corporation generated revenue of 14.5B TWD at a net margin of 25.4%. Revenue grew 39.0% year over year. It earns a return on equity of 28.1%. The balance sheet holds a net cash position of 705M TWD. Fundamentals as of Jul 17, 2026
Our scenario range runs from 426.61 TWD (bear case) to 763.26 TWD (bull case); at 5,600 TWD, the current price sits above that range. The share trades about 16% below its 52-week high, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -74% fair-value upside, at -89%, 6223 screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 17, 2026. TTM = trailing twelve months.
About the company
MPI Corporation, together with its subsidiaries, manufactures, processes, repairs, imports/exports, and trades in semiconductor manufacturing and testing equipment in Taiwan, China, the United States, Singapore, Korea, and internationally. It offers probe cards comprising cantilever, kestrel, FCB, EVS, and osprey probe cards. The company also provides probe systems, RF and high-power characterization platforms, photonics automation, high bandwidth memory test, and thermal technologies. In addition, it offers celadon systems, including multiprobe, high performance cables, production wafer level burn-in, 3KV high voltage test, cryogenic, multisite testing-rail system, parametric test, wafer level reliability and burn-in, and modeling and characterization services. Further, the company provides MPI Thermal Cycling Test Systems for semiconductor, automotive, aerospace/defence, electronic test, fiber optics, advanced technology telecommunications, and sensors; and accessories, such as …
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
MPI Corporation reported revenue of 13.4B TWD in FY2025 versus 6.5B TWD in FY2021, a compound +19.7%/yr. Reported net income was 3.2B TWD in FY2025, compounding +46.3%/yr from FY2021.
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Recent news
- Leading Competitors Including FormFactor, Keithley Instruments, Cascade Microtech, MPI Corporation, and Lake Shore Cryotronics Propel the Pr
- MPI Corporation Expands High-Frequency Test Leadership with New 250 GHz Broadband Probe Solution
- Probe Station Market Analysis Report 2025-2031 Featuring Tokyo Electron, SemiShare, FormFactor, MPI, Winway Technology, ESDEMC Technology, a
- Lightium, MPI Corporation, and Axiomatic_AI Announce Strategic Partnership to Revolutionize Photonic Integrated Circuit (PIC) Device Testing
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection, not financial advice.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | C$50.50 | C$21.68 | -57% |
| Applied Materials, Inc AP2 | €547.30 | €143.71 | -74% |
| Lam Research Corporation LRCX | $409.54 | $94.52 | -77% |
| KLA Corporation KLAC | $224.50 | $55.84 | -75% |
| Tokyo Electron Limited TOELF | $443.58 | $117.43 | -74% |
| Advantest Corporation ATEYY | $195.62 | $83.32 | -57% |
| NAURA Technology Group 002371 | ¥745.00 | ¥88.30 | -88% |
| Hon. Precision, Inc 7769 | 7,055 TWD | 2,405 TWD | -66% |
| Piotech Inc 688072 | ¥618.00 | ¥112.44 | -82% |
| Hangzhou Changchuan Technology Co 300604 | ¥226.74 | ¥33.33 | -85% |
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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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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.