Taiwan Surface Mounting Technology Corp (6278) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Taiwan Surface Mounting Technology Corp TWD 177, price TWD 212, upside -16.5%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Taiwan Surface Mounting Technology Corp. engages in the design, processing, manufacturing, and trading of TFT-LCD panels, general electronic information products, and PCB surface mount packaging worldwide.
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Taiwan Surface Mounting Technology Corp. engages in the design, processing, manufacturing, and trading of TFT-LCD panels, general electronic information products, and PCB surface mount packaging worldwide. The company provides digital camera and cellular phone LCD panel, notebook and television TFT-LCD panel, LED TV power supply, and LCD TV inverter control boards. It also offers micro projector and touch panel, DVD R/W, TV set, and lighting application control boards, as well as wireless controllers and refrigerator display panels; and digital camera/cellular, automotive dashboard panel, notebook, and PC/LCD television backlight bars. The company was incorporated in 1990 and is headquartered in Taoyuan City, Taiwan.
Stock analysis
Taiwan Surface Mounting Technology Corp (6278) currently trades at 212.00 TWD, while our model-based Fair Value estimate is 177.01 TWD, implying the stock looks roughly 19.8% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 233.54 TWD per share, and 8 of the 26 models we run sit above the 212.00 TWD price.
Bear case: the Asset-Based group reads lowest at 53.26 TWD, and 18 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 115.51 TWD (bear) to 254.46 TWD (bull), the price of 212.00 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 63/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Taiwan Surface Mounting Technology Corp reported revenue of 49.9B TWD in FY2025 versus 65.7B TWD in FY2021, a compound −6.7%/yr. Reported net income was 2.7B TWD in FY2025, compounding −7.2%/yr from FY2021.
Key figures
Market cap 62.1B TWD (≈ $1.9B) · P/E ratio 22.7 · P/S ratio 1.25 · EPS (TTM) 9.32 TWD · Dividend yield 2.6% · Net margin 5.5% · Return on equity 11.4% · Return on assets (EBIT) 7.5%.
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 12% below its 52-week high and 139% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at −17%, 6278 screens cheaper than that median.
Fair Value models
Bear 115.51 TWDFair Value 177.01 TWDBull 254.46 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 (2.79 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+10.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−10.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.8%
Start year 2020 (pandemic). Over 10 years: +5.2% a year
Revenue growth 23 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.9%
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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.
+7.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.7%
Dividend (yield on the price)2.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5% vs 12%, slowing
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.7% → 7%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+26.8%
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 +24.9% a year for the price.
Compare Taiwan Surface Mounting Technology Corp with another stock
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.Semiconductors · 340 stocks
Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside−17% · Above median
Profitability
Return on equity (TTM)11% · Above median
Return on assets4% · Above median
Net margin (TTM)5% · Below median
Operating margin (TTM)6% · Below median
Growth and dividend
Revenue growth1% · Below median
Dividend yield (TTM)2.6% · Top 25%
Balance sheet
Debt / equity0.10× · Above median
Valuation Multiplesvs Semiconductors median · lower = cheaper
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Is Taiwan Surface Mounting Technology Corp (6278) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 177.01 TWD versus a price of 212.00 TWD, about −17% upside (overvalued).
What is the fair value of 6278?
Our model-based fair value for Taiwan Surface Mounting Technology Corp is 177.01 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 212.00 TWD.
What is the quality score of 6278?
Taiwan Surface Mounting Technology Corp has a Quality Score of 63/100. 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 Taiwan Surface Mounting Technology Corp (6278)?
Our model-based price target is the fair value of 177.01 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 115.51 TWD, optimistic scenario 254.46 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Taiwan Surface Mounting Technology Corp stock forecast for 2026?
Our models put fair value at 177.01 TWD, about −17% upside versus a price of 212.00 TWD (overvalued). Cautious scenario 115.51 TWD, optimistic scenario 254.46 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Taiwan Surface Mounting Technology Corp (6278)?
Taiwan Surface Mounting Technology Corp reported trailing-twelve-month revenue of about 50.0B TWD (latest available figure, as of Sep 24, 2026).
Does Taiwan Surface Mounting Technology Corp pay a dividend?
Taiwan Surface Mounting Technology Corp currently shows a dividend yield of about 2.59% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Taiwan Surface Mounting Technology Corp (6278)?
For today's price to be fair in a discounted-cash-flow model, Taiwan Surface Mounting Technology Corp would have to grow free cash flow by +26.8 % per year for five years (discount rate 12.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6278 use?
Our models discount Taiwan Surface Mounting Technology Corp at 12.8 %: a base by market capitalisation (small), damped by beta 1.35, 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 Taiwan Surface Mounting Technology Corp that is +26.8 % per year a year over ten years, using the same discount rate (12.8 %) and the same formula as our fair value.
How much growth has Taiwan Surface Mounting Technology Corp (6278) delivered so far?
Over the past 5 years revenue at Taiwan Surface Mounting Technology Corp grew +3.8 % a year. The price currently implies +26.8 % 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 Taiwan Surface Mounting Technology Corp (6278) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Taiwan Surface Mounting Technology Corp (+26.8 % 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 Taiwan Surface Mounting Technology Corp (6278)?
The free-cash-flow yield on the price is 2.56 %: that much free cash flow Taiwan Surface Mounting Technology Corp produces per unit of market value. When it exceeds the discount rate of our models (12.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Taiwan Surface Mounting Technology Corp (6278)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Taiwan Surface Mounting Technology Corp it is 177.01 TWD per share (as of Sep 24, 2026), against a price of 212.00 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Taiwan Surface Mounting Technology Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6278 trades above its calculated fair value: price 212.00 TWD, fair value 177.01 TWD, a gap of about −17% (overvalued). 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 6278?
No. The price is what the market pays today (212.00 TWD); the fair value is what the company's own numbers justify (177.01 TWD). For Taiwan Surface Mounting Technology Corp the two are 34.99 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Taiwan Surface Mounting Technology Corp worth?
The market values Taiwan Surface Mounting Technology Corp at about 62.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 212.00 TWD; our models calculate a fair value of 177.01 TWD per share.
What do the bullish and bearish scenarios say about 6278?
Our models span a range for Taiwan Surface Mounting Technology Corp: cautious scenario 115.51 TWD, base 177.01 TWD, optimistic 254.46 TWD per share (as of Sep 24, 2026, price 212.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6278?
Taiwan Surface Mounting Technology Corp trades at a price-to-earnings ratio of 22.7 (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 177.01 TWD is built from several models across several years. Other multiples: PEG 0.7, P/B 2.7, P/S 1.2, EV/EBITDA 10.6.
What is the PEG ratio of 6278?
The PEG ratio of Taiwan Surface Mounting Technology Corp is 0.70 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Taiwan Surface Mounting Technology Corp (6278)?
Balance-sheet figures for Taiwan Surface Mounting Technology Corp (as of Sep 24, 2026): return on equity 11.4%, debt of 0.10 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 6278 from its 52-week high?
Taiwan Surface Mounting Technology Corp trades at 212.00 TWD, about 12% below its 52-week high of 239.64 TWD and 139% above the low of 88.86 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 177.01 TWD is for.
Which stocks are comparable to Taiwan Surface Mounting Technology Corp?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix Inc, 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 Taiwan Surface Mounting Technology Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 212.00 TWD, calculated fair value 177.01 TWD (−17%), Quality Score 63/100, from 26 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 6278 calculated?
We run Taiwan Surface Mounting Technology Corp through 26 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 177.01 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 14.1 % above its aggregate fair value. Taiwan Surface Mounting Technology Corp itself currently trades above fair value. 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 Taiwan Surface Mounting Technology Corp (6278)?
The closing price on Sep 24, 2026 was 212.00 TWD. Our model-based fair value is 177.01 TWD, about −17% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Taiwan Surface Mounting Technology Corp right now?
Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (115.51 TWD to 254.46 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Taiwan Surface Mounting Technology Corp (6278) come from?
Earnings per share at Taiwan Surface Mounting Technology Corp grew +14.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.7 %, EBIT margin +5.0 %, tax rate +1.8 %, residual (interest, one-offs) +1.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Taiwan Surface Mounting Technology Corp
How large is the market capitalisation of Taiwan Surface Mounting Technology Corp (6278)?
The market capitalisation of Taiwan Surface Mounting Technology Corp is 62.1B TWD (≈ $1.9B). 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 Taiwan Surface Mounting Technology Corp (6278)?
The price-to-sales ratio of Taiwan Surface Mounting Technology Corp is 1.25 (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 Taiwan Surface Mounting Technology Corp (6278)?
Earnings per share at Taiwan Surface Mounting Technology Corp are 9.32 TWD (price ÷ EPS = P/E 22.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Taiwan Surface Mounting Technology Corp (6278)?
The dividend yield of Taiwan Surface Mounting Technology Corp is 2.6% (payout 59.0%). 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 Taiwan Surface Mounting Technology Corp (6278)?
The net margin of Taiwan Surface Mounting Technology Corp is 5.5% (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 Taiwan Surface Mounting Technology Corp (6278)?
The return on equity (ROE) of Taiwan Surface Mounting Technology Corp is 11.4% (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 Taiwan Surface Mounting Technology Corp (6278)?
On an EBIT basis the return on assets of Taiwan Surface Mounting Technology Corp is 7.5% (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 Taiwan Surface Mounting Technology Corp (6278)?
The operating margin of Taiwan Surface Mounting Technology Corp is 5.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Taiwan Surface Mounting Technology Corp (6278)?
Revenue at Taiwan Surface Mounting Technology Corp is growing +1.1% versus a year earlier (3y avg −10.0%). 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 Taiwan Surface Mounting Technology Corp (6278)?
Earnings per share at Taiwan Surface Mounting Technology Corp are growing −24.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Taiwan Surface Mounting Technology Corp (6278) hold?
Taiwan Surface Mounting Technology Corp holds more cash than debt, 3.6B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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