Top Union Electronics (6266) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Top Union Electronics TWD 32.08, price TWD 24.90, upside +28.8%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 13.27 TWD – 43.65 TWD · fair‑value band 20.59 TWD – 45.21 TWD · the 24.90 TWD price screens below the 32.08 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Top Union Electronics Corp. engages in design, manufacture, and technical support of electronic products and communication equipment in Taiwan, the United States, and China. The company offers surface mount technology processing, DIP, testing, assembly, and reliability consulting services; and electronic product assembly processing and testing services.
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Top Union Electronics Corp. engages in design, manufacture, and technical support of electronic products and communication equipment in Taiwan, the United States, and China. The company offers surface mount technology processing, DIP, testing, assembly, and reliability consulting services; and electronic product assembly processing and testing services. It also involved in investment activities; and processing and international trade business. Top Union Electronics Corp. was founded in 1990 and is based in Hsinchu City, Taiwan.
Stock analysis
Top Union Electronics (6266) currently trades at 24.90 TWD, while our model-based Fair Value estimate is 32.08 TWD, implying the stock looks roughly 22.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 44.89 TWD per share, and 14 of the 25 models we run sit above the 24.90 TWD price.
Bear case: the Asset-Based group reads lowest at 11.15 TWD, and 11 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: 20.59 TWD (bear) to 45.21 TWD (bull), the price of 24.90 TWD sits inside 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 55/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Top Union Electronics reported revenue of 3.4B TWD in FY2025 versus 2.5B TWD in FY2021, a compound +7.5%/yr. Reported net income was 307M TWD in FY2025, compounding +17.3%/yr from FY2021.
Key figures
Market cap 3.8B TWD (≈ $120M) · P/E ratio 12.7 · P/S ratio 1.15 · EPS (TTM) 1.96 TWD · Dividend yield 7.1% · Net margin 9.0% · Return on equity 12.6% · Return on assets (EBIT) 10.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at 29%, 6266 screens cheaper than that median.
Fair Value models
Bear 20.59 TWDFair Value 32.08 TWDBull 45.21 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.1322 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.Evidence ⓘEvidence = 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.
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.66/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
+15.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.7%
Dividend (yield on the price)7.1%
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.9% → 11%
⚠ Revenue per share shrinking 1.5%/yr over ~6Y (margins intact) ⓘ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
Price in line with expectations
The price assumes about as much growth as 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).
+6.5%
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 +4.8% a year for the price.
Price, fair value, quality and upside side by side.
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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.Semiconductor Equipment & Materials · 219 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Top Union Electronics Fair Value". https://www.fairvalue-calculator.com/stock/6266
Frequently asked questions
Is Top Union Electronics (6266) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 32.08 TWD versus a price of 24.90 TWD, about +29% upside (undervalued).
What is the fair value of 6266?
Our model-based fair value for Top Union Electronics is 32.08 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 24.90 TWD.
What is the quality score of 6266?
Top Union Electronics has a Quality Score of 55/100. 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 Top Union Electronics (6266)?
Our model-based price target is the fair value of 32.08 TWD (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 20.59 TWD, optimistic scenario 45.21 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Top Union Electronics stock forecast for 2026?
Our models put fair value at 32.08 TWD, about +29% upside versus a price of 24.90 TWD (undervalued). Cautious scenario 20.59 TWD, optimistic scenario 45.21 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Top Union Electronics (6266)?
Top Union Electronics reported trailing-twelve-month revenue of about 3.3B TWD (latest available figure, as of Sep 24, 2026).
Does Top Union Electronics pay a dividend?
Top Union Electronics currently shows a dividend yield of about 7.15% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Top Union Electronics (6266)?
For today's price to be fair in a discounted-cash-flow model, Top Union Electronics would have to grow free cash flow by +6.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6266 use?
Our models discount Top Union Electronics at 11.8 %: a base by market capitalisation (micro), damped by beta 0.29, 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 Top Union Electronics that is +6.5 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Top Union Electronics (6266) delivered so far?
Over the past 5 years revenue at Top Union Electronics grew +9.0 % a year. The price currently implies +6.5 % per year free-cash-flow growth a 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 Top Union Electronics (6266) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Top Union Electronics (+6.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Top Union Electronics (6266)?
The free-cash-flow yield on the price is 5.18 %: that much free cash flow Top Union Electronics produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Top Union Electronics (6266)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Top Union Electronics it is 32.08 TWD per share (as of Sep 24, 2026), against a price of 24.90 TWD. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Top Union Electronics stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6266 trades below its calculated fair value: price 24.90 TWD, fair value 32.08 TWD, a gap of about +29% (undervalued). 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 6266?
No. The price is what the market pays today (24.90 TWD); the fair value is what the company's own numbers justify (32.08 TWD). For Top Union Electronics the two are 7.18 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Top Union Electronics worth?
The market values Top Union Electronics at about 3.8B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 24.90 TWD; our models calculate a fair value of 32.08 TWD per share.
What do the bullish and bearish scenarios say about 6266?
Our models span a range for Top Union Electronics: cautious scenario 20.59 TWD, base 32.08 TWD, optimistic 45.21 TWD per share (as of Sep 24, 2026, price 24.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6266?
Top Union Electronics trades at a price-to-earnings ratio of 12.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 32.08 TWD is built from several models across several years. Other multiples: P/B 1.5, P/S 1.2, EV/EBITDA 8.2.
How solid is the balance sheet of Top Union Electronics (6266)?
Balance-sheet figures for Top Union Electronics (as of Sep 24, 2026): return on equity 12.6%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 6266 from its 52-week high?
Top Union Electronics trades at 24.90 TWD, about 19% below its 52-week high of 30.75 TWD and 5% above the low of 23.80 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 32.08 TWD is for.
Which stocks are comparable to Top Union Electronics?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 Top Union Electronics stock attractive at the current price?
The data as of Sep 24, 2026: price 24.90 TWD, calculated fair value 32.08 TWD (+29%), Quality Score 55/100, from 25 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 6266 calculated?
We run Top Union Electronics through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 32.08 TWD, 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 13.2 % above its aggregate fair value. Top Union Electronics currently trades 29 % below its own fair value, and the market average says nothing about that. 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 Top Union Electronics (6266)?
The closing price on Sep 24, 2026 was 24.90 TWD. Our model-based fair value is 32.08 TWD, about +29% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Top Union Electronics right now?
Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (20.59 TWD to 45.21 TWD) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Top Union Electronics
How large is the market capitalisation of Top Union Electronics (6266)?
The market capitalisation of Top Union Electronics is 3.8B TWD (≈ $120M). 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 Top Union Electronics (6266)?
The price-to-sales ratio of Top Union Electronics is 1.15 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Top Union Electronics (6266)?
Earnings per share at Top Union Electronics are 1.96 TWD (price ÷ EPS = P/E 12.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Top Union Electronics (6266)?
The dividend yield of Top Union Electronics is 7.1% (payout 90.8%). 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 Top Union Electronics (6266)?
The net margin of Top Union Electronics is 9.0% (fiscal year 2025). 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 Top Union Electronics (6266)?
The return on equity (ROE) of Top Union Electronics is 12.6% (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 Top Union Electronics (6266)?
On an EBIT basis the return on assets of Top Union Electronics is 10.5% (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 Top Union Electronics (6266)?
The operating margin of Top Union Electronics is 10.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Top Union Electronics (6266)?
Revenue at Top Union Electronics is growing −5.2% versus a year earlier (3y avg +1.1%). 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 Top Union Electronics (6266)?
Earnings per share at Top Union Electronics are growing +39.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Top Union Electronics (6266) hold?
Top Union Electronics holds more cash than debt, 941M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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