Chicony Power Technology Co Ltd (6412) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Chicony Power Technology Co Ltd TWD 103, price TWD 74.60, upside +38.4%, quality 56 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 23, 2026.
How to read this chart
60‑month range 56.76 TWD – 184.50 TWD · fair‑value band 70.35 TWD – 137.81 TWD · the 74.60 TWD price screens below the 103.23 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Chicony Power Technology Co., Ltd. engages in research, development, manufacturing, and trading of exchange-connected power supplies, electronic components and equipment, LED application products, and smart building systems in Taiwan, Asia, America, Europe, and internationally.
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Chicony Power Technology Co., Ltd. engages in research, development, manufacturing, and trading of exchange-connected power supplies, electronic components and equipment, LED application products, and smart building systems in Taiwan, Asia, America, Europe, and internationally. It provides adapters, eSports PC, and EV energy conservation, as well as embedded PSUs for a range of industries, including server, cloud, data center, storage, and communications. The company also offers LED backlight modules and automotive lighting for various applications in laptop, PC, smartphone, 3C peripherals, and automotive fields. In addition, it provides magnetics components, such as transformers, PFC chokes, and line filters; and smart building management platforms. Further, it provides LED lighting modules, energy-saving technology consulting, and management services, as well as production and sales of specialized electronic equipment, power supplies, modular power supplies, magnetic components, circuit boards, keyboards, motorcycle lights, and decorative lighting. Additionally, the company offers trading and import/export services, and energy-saving lighting equipment sales and installation. The company was founded in 2008 and is based in New Taipei City, Taiwan.
Stock analysis
Chicony Power Technology Co Ltd (6412) currently trades at 74.60 TWD, while our model-based Fair Value estimate is 103.23 TWD, implying the stock looks roughly 27.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 109.14 TWD per share, and 15 of the 24 models we run sit above the 74.60 TWD price.
Bear case: the Asset-Based group reads lowest at 25.54 TWD, and 9 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 70.35 TWD (bear) to 137.81 TWD (bull), the price of 74.60 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 56/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Chicony Power Technology Co Ltd reported revenue of 34.5B TWD in FY2025 versus 40.4B TWD in FY2021, a compound −3.9%/yr. Reported net income was 2.1B TWD in FY2025, compounding −7.3%/yr from FY2021.
Key figures
Market cap 32.7B TWD (≈ $1.0B) · P/E ratio 14.5 · P/S ratio 0.88 · EPS (TTM) 5.15 TWD · Dividend yield 5.0% · Net margin 6.1% · Return on equity 14.8% · Return on assets (EBIT) 11.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at 38%, 6412 screens cheaper than that median.
Fair Value models
Bear 70.35 TWDFair Value 103.23 TWDBull 137.81 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 (1.06 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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−7.3%
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.
−5.7%
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.
−0.2%
Start year 2020 (pandemic). Over 10 years: +2.7% a year
Revenue growth 15 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.
+3.2%
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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.
+4.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.9%
Dividend (yield on the price)5.0%
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.−1% vs 5%, 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.8% → 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).
+8.1%
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 +6.4% a year for the price.
Compare Chicony Power Technology Co Ltd with another stock
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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.Electrical Equipment & Parts · 550 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside+39% · Top 25%
Profitability
Return on equity (TTM)15% · Top 25%
Return on assets4% · Above median
Net margin (TTM)6% · Above median
Operating margin (TTM)4% · Below median
Growth and dividend
Revenue growth−8% · Bottom 25%
Dividend yield (TTM)5.0% · Top 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Chicony Power Technology Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6412
Frequently asked questions
Is Chicony Power Technology Co Ltd (6412) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 103.23 TWD versus a price of 74.60 TWD, about +38% upside (undervalued).
What is the fair value of 6412?
Our model-based fair value for Chicony Power Technology Co Ltd is 103.23 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 74.60 TWD.
What is the quality score of 6412?
Chicony Power Technology Co Ltd has a Quality Score of 56/100. 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 Chicony Power Technology Co Ltd (6412)?
Our model-based price target is the fair value of 103.23 TWD (as of Sep 23, 2026) from 24 valuation models. Cautious scenario 70.35 TWD, optimistic scenario 137.81 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Chicony Power Technology Co Ltd stock forecast for 2026?
Our models put fair value at 103.23 TWD, about +38% upside versus a price of 74.60 TWD (undervalued). Cautious scenario 70.35 TWD, optimistic scenario 137.81 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Chicony Power Technology Co Ltd (6412)?
Chicony Power Technology Co Ltd reported trailing-twelve-month revenue of about 33.8B TWD (latest available figure, as of Sep 23, 2026).
Does Chicony Power Technology Co Ltd pay a dividend?
Chicony Power Technology Co Ltd currently shows a dividend yield of about 4.96% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Chicony Power Technology Co Ltd (6412)?
For today's price to be fair in a discounted-cash-flow model, Chicony Power Technology Co Ltd would have to grow free cash flow by +8.1 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.2 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 6412 use?
Our models discount Chicony Power Technology Co Ltd at 8.9 %: a base by market capitalisation (large), damped by beta 0.63, 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 Chicony Power Technology Co Ltd that is +8.1 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Chicony Power Technology Co Ltd (6412) delivered so far?
Over the past 5 years revenue at Chicony Power Technology Co Ltd grew -0.2 % a year. The price currently implies +8.1 % 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 Chicony Power Technology Co Ltd (6412) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Chicony Power Technology Co Ltd (+8.1 % 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 Chicony Power Technology Co Ltd (6412)?
The free-cash-flow yield on the price is 4.54 %: that much free cash flow Chicony Power Technology Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Chicony Power Technology Co Ltd (6412)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Chicony Power Technology Co Ltd it is 103.23 TWD per share (as of Sep 23, 2026), against a price of 74.60 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Chicony Power Technology Co Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 6412 trades below its calculated fair value: price 74.60 TWD, fair value 103.23 TWD, a gap of about +38% (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 6412?
No. The price is what the market pays today (74.60 TWD); the fair value is what the company's own numbers justify (103.23 TWD). For Chicony Power Technology Co Ltd the two are 28.63 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Chicony Power Technology Co Ltd worth?
The market values Chicony Power Technology Co Ltd at about 32.7B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 74.60 TWD; our models calculate a fair value of 103.23 TWD per share.
What do the bullish and bearish scenarios say about 6412?
Our models span a range for Chicony Power Technology Co Ltd: cautious scenario 70.35 TWD, base 103.23 TWD, optimistic 137.81 TWD per share (as of Sep 23, 2026, price 74.60 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6412?
Chicony Power Technology Co Ltd trades at a price-to-earnings ratio of 14.5 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 103.23 TWD is built from several models across several years. Other multiples: P/B 2.1, P/S 1.0, EV/EBITDA 9.1.
How solid is the balance sheet of Chicony Power Technology Co Ltd (6412)?
Balance-sheet figures for Chicony Power Technology Co Ltd (as of Sep 23, 2026): return on equity 14.8%, debt of 0.01 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 6412 from its 52-week high?
Chicony Power Technology Co Ltd trades at 74.60 TWD, about 30% below its 52-week high of 106.00 TWD and 3% above the low of 72.30 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 103.23 TWD is for.
Which stocks are comparable to Chicony Power Technology Co Ltd?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Delta Electronics (Thailand) Public Company, Vertiv Holdings, 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 Chicony Power Technology Co Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price 74.60 TWD, calculated fair value 103.23 TWD (+38%), Quality Score 56/100, from 24 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 6412 calculated?
We run Chicony Power Technology Co Ltd through 24 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 103.23 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. Chicony Power Technology Co Ltd currently trades 38 % 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 Chicony Power Technology Co Ltd (6412)?
The closing price on Sep 24, 2026 was 74.60 TWD. Our model-based fair value is 103.23 TWD, about +38% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Chicony Power Technology Co Ltd right now?
Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (70.35 TWD to 137.81 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Chicony Power Technology Co Ltd (6412) come from?
Earnings per share at Chicony Power Technology Co Ltd grew +9.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.3 %, EBIT margin +8.0 %, tax rate −0.1 %, residual (interest, one-offs) −1.0 %. 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 Chicony Power Technology Co Ltd
How large is the market capitalisation of Chicony Power Technology Co Ltd (6412)?
The market capitalisation of Chicony Power Technology Co Ltd is 32.7B TWD (≈ $1.0B). 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 Chicony Power Technology Co Ltd (6412)?
The price-to-sales ratio of Chicony Power Technology Co Ltd is 0.88 (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 Chicony Power Technology Co Ltd (6412)?
Earnings per share at Chicony Power Technology Co Ltd are 5.15 TWD (price ÷ EPS = P/E 14.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Chicony Power Technology Co Ltd (6412)?
The dividend yield of Chicony Power Technology Co Ltd is 5.0% (payout 71.8%). 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 Chicony Power Technology Co Ltd (6412)?
The net margin of Chicony Power Technology Co Ltd is 6.1% (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 Chicony Power Technology Co Ltd (6412)?
The return on equity (ROE) of Chicony Power Technology Co Ltd is 14.8% (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 Chicony Power Technology Co Ltd (6412)?
On an EBIT basis the return on assets of Chicony Power Technology Co Ltd is 11.7% (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 Chicony Power Technology Co Ltd (6412)?
The operating margin of Chicony Power Technology Co Ltd is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Chicony Power Technology Co Ltd (6412)?
Revenue at Chicony Power Technology Co Ltd is growing −7.8% versus a year earlier (3y avg −5.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Chicony Power Technology Co Ltd (6412) carry?
The net debt of Chicony Power Technology Co Ltd is 18.6M TWD (fiscal year 2025, ≈ 0.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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