Top Union Electronics (6266) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Top Union Electronics stock TWD 29.00, price TWD 21.50, upside +34.9%, quality 55 out of 100. Rating: undervalued. Calculated from audited financials with 25 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 6, 2026.
How to read this chart
60‑month range 14.46 TWD – 43.65 TWD · fair‑value band 18.61 TWD – 40.87 TWD · the 21.50 TWD price screens below the 29.00 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 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.
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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 21.50 TWD, while our model-based Fair Value estimate is 29.00 TWD, implying the stock looks roughly 26% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 59.88 TWD per share, and 15 of the 25 models we run sit above the 21.50 TWD price.
Bear case: the Asset-Based group reads lowest at 10.63 TWD, and 10 of the 25 models stay below the price. Data coverage for this calculation is low.
Scenario range: 18.61 TWD (bear) to 40.87 TWD (bull), the price of 21.50 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 3.3B TWD (≈ $102M) Micro · P/E ratio 11.1 · P/S ratio 1.01 · EPS (TTM) 1.94 TWD · Dividend yield 8.3% · Net margin 9.1% · Return on equity 12.6% · Return on assets (EBIT) 10.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −2% fair-value upside, at 35%, 6266 screens cheaper than that median.
Fair Value models
Bear18.61 TWDFair Value 29.00 TWDBull40.87 TWD
Price 21.50 TWD · Upside +34.9%
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 (0.1368 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 DCF12.62 TWD16.18 TWD20.44 TWD80
Growth DCF12.76 TWD15.96 TWD19.63 TWD77
Residual Income14.33 TWD15.89 TWD18.69 TWD76
All 25 models by family
DCF Models
FCF DCF12.62 TWD16.18 TWD20.44 TWD80
Owner Earnings12.72 TWD16.31 TWD20.62 TWD75
5Y Revenue Exit18.13 TWD27.65 TWD39.48 TWD70
5Y EBITDA Exit27.88 TWD45.04 TWD64.40 TWD72
5Y P/E Exit27.23 TWD43.88 TWD60.61 TWD68
10Y Revenue Exit15.06 TWD22.39 TWD31.60 TWD64
10Y EBITDA Exit20.94 TWD32.77 TWD47.65 TWD65
10Y P/E Exit20.59 TWD32.08 TWD45.21 TWD61
Earnings-Based
Graham-Dodd13.59 TWD32.79 TWD42.35 TWD65
PEG = 1.05.79 TWD8.27 TWD10.76 TWD57
EPV15.54 TWD17.29 TWD18.73 TWD70
Dividend Discount
Gordon GGM12.33 TWD19.17 TWD25.70 TWD68
DDM Multi-Stage12.33 TWD17.08 TWD21.42 TWD67
Multiples
P/E Multiple41.97 TWD55.95 TWD69.94 TWD63
P/S Multiple25.48 TWD33.97 TWD42.47 TWD58
P/B Multiple74.87 TWD99.82 TWD124.78 TWD55
EV/EBIT49.59 TWD64.08 TWD78.57 TWD63
EV/EBITDA49.39 TWD63.81 TWD78.24 TWD64
EV/Revenue28.09 TWD37.51 TWD46.93 TWD52
Asset-Based
NCAV (Graham)7.02 TWD10.63 TWD13.29 TWD52
Growth DCF
Growth DCF12.76 TWD15.96 TWD19.63 TWD77
Rev-Margin DCF18.13 TWD27.70 TWD37.95 TWD70
Economic Profit
Residual Income14.33 TWD15.89 TWD18.69 TWD76
ROIC Compounder15.54 TWD17.48 TWD19.65 TWD70
Growth Earnings
Growth-Adj P/E31.42 TWD44.89 TWD58.36 TWD67
The fair value above starts from this blend and is adjusted for a cyclical peak 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.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.
+17.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.7%
Dividend (yield on the price)8.3%
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
Little optimism in the price
The price assumes less 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).
+2.2%
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 +0.6% 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 · 235 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 Nov 6, 2026, our model estimates a fair value of 29.00 TWD versus a price of 21.50 TWD, about +35% upside (undervalued).
What is the fair value of 6266?
Our model-based fair value for Top Union Electronics is 29.00 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 21.50 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 29.00 TWD (as of Nov 6, 2026) from 25 valuation models. Cautious scenario 18.61 TWD, optimistic scenario 40.87 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 29.00 TWD, about +35% upside versus a price of 21.50 TWD (undervalued). Cautious scenario 18.61 TWD, optimistic scenario 40.87 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 Nov 6, 2026).
Does Top Union Electronics pay a dividend?
Top Union Electronics currently shows a dividend yield of 8.28% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Top Union Electronics (6266) and when is the ex-dividend date?
Top Union Electronics pays a dividend of 1.78 TWD per share a year, a dividend yield of 8.3%. The last ex-dividend date was Jun 11, 2026. A dividend has been paid every year since 2011. The payout ratio is 91.8% of earnings. Free cash flow covers the dividend 0.72 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
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 +2.2 % 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 Nov 6, 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 0.27, 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 +2.2 % per year for five years, then slowing evenly to 2 % by year ten, 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 free-cash-flow growth of +2.2 % 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 Top Union Electronics (6266) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Top Union Electronics (+2.2 % per 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 6.00 %: 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 29.00 TWD per share (as of Nov 6, 2026), against a price of 21.50 TWD. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Top Union Electronics stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 6266 trades below its calculated fair value: price 21.50 TWD, fair value 29.00 TWD, a gap of about +35% (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 (21.50 TWD); the fair value is what the company's own numbers justify (29.00 TWD). For Top Union Electronics the two are 7.50 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 3.3B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 21.50 TWD; our models calculate a fair value of 29.00 TWD per share.
What do the bullish and bearish scenarios say about 6266?
Our models span a range for Top Union Electronics: cautious scenario 18.61 TWD, base 29.00 TWD, optimistic 40.87 TWD per share (as of Nov 6, 2026, price 21.50 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 11.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 29.00 TWD is built from several models across several years. Other multiples: P/B 1.3, P/S 1.0, EV/EBITDA 7.1.
How solid is the balance sheet of Top Union Electronics (6266)?
Balance-sheet figures for Top Union Electronics (as of Nov 6, 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 21.50 TWD, about 30% below its 52-week high of 30.60 TWD and at the low of 21.50 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 29.00 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 Nov 6, 2026: price 21.50 TWD, calculated fair value 29.00 TWD (+35%), 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 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 29.00 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. Top Union Electronics currently trades 26% 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 Nov 6, 2026 was 21.50 TWD. Our model-based fair value is 29.00 TWD, about +35% 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?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. 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 (18.61 TWD to 40.87 TWD) leaves room in how you read the outcome.
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 3.3B TWD (≈ $102M). 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 1.01 (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 Top Union Electronics (6266)?
Earnings per share at Top Union Electronics are 1.94 TWD (price ÷ EPS = P/E 11.1). 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 8.3% (payout 91.8%). 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 9.1% (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 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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Thin data
Nov 6, 2026