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Apogee Optocom Co (6426) Fair Value & Analysis

Technology · TW · Market cap 6.4B TWD

AO Apogee Optocom Co 6426 · TW
Price217.50 TWD
Fair Value28.41 TWD
Upside-86.9%
Quality75/100
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Weak Growth
Thin margins · 3.7% net margin
Low debt · generates free cash flow
Ranks above peers (8/12)
Narrow moat 36/100
Evidence: Medium Range 21.66 TWD – 36.58 TWD Share as image

Fair value as of: Jul 23, 2026

From 13 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 28.47 TWD to 28.41 TWD (−0.2%) since Jul 12, 2026. Share price +16.0% over the past month.

A strong business, but screening 87% overvalued on our models.

What matters now

  • A high-quality business (quality 75/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (36.58 TWD). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

288.50 TWD 50.21 TWD Fair Value 28.41 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 50.21 TWD – 288.50 TWD · fair‑value band 21.66 TWD – 36.58 TWD · the 217.50 TWD price screens above the 28.41 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Apogee Optocom Co (6426) currently trades at 217.50 TWD, while our model-based Fair Value estimate is 28.41 TWD, implying the stock looks roughly 86.9% overvalued today. The Quality Score stands at 75/100 (high 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: medium).

Over the trailing twelve months, Apogee Optocom Co generated revenue of 543M TWD at a net margin of 3.7%. Revenue grew 56.1% year over year. It earns a return on equity of 2.2%. The balance sheet holds a net cash position of 235M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 21.66 TWD (bear case) to 36.58 TWD (bull case); at 217.50 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 238% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -87%, 6426 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
Growth DCF 24.99 TWD 31.32 TWD 39.46 TWD 80
Rev-Margin DCF 22.88 TWD 30.60 TWD 38.71 TWD 74
Gordon GGM 4.39 TWD 6.55 TWD 8.77 TWD 70
All 13 models by family
DCF Models
FCF DCF 24.48 TWD 31.23 TWD 40.26 TWD 38
Owner Earnings 27.34 TWD 35.19 TWD 45.69 TWD 31
5Y Revenue Exit 22.88 TWD 30.34 TWD 39.39 TWD 39
5Y EBITDA Exit 27.33 TWD 38.14 TWD 50.04 TWD 41
10Y Revenue Exit 22.92 TWD 29.54 TWD 37.44 TWD 36
10Y EBITDA Exit 26.06 TWD 34.65 TWD 44.92 TWD 37
Dividend Discount
Gordon GGM 4.39 TWD 6.55 TWD 8.77 TWD 70
DDM Multi-Stage 4.39 TWD 6.19 TWD 8.16 TWD 61
Multiples
EV/EBITDA 32.38 TWD 40.85 TWD 49.32 TWD 54
EV/Revenue 22.97 TWD 29.84 TWD 36.70 TWD 43
Asset-Based
NCAV (Graham) 11.74 TWD 15.73 TWD 23.48 TWD 50
Growth DCF
Growth DCF 24.99 TWD 31.32 TWD 39.46 TWD 80
Rev-Margin DCF 22.88 TWD 30.60 TWD 38.71 TWD 74

Widest divergence: DCF Models (31.23 TWD) versus Dividend Discount (6.19 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 543M TWD
Revenue growth (YoY) +56.1%
Net margin 3.7%
Return on equity 2.2%
Free cash flow 67.8M TWD FY2025
Operating margin 12.5%
More key figures
EPS (TTM) -0.7800 TWD
EPS growth (YoY) -99.8%
Net cash 235M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 75/100

Of which business quality 72 · Market factors (momentum, volatility) 57

Profitability 14
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Apogee Optocom Co., Ltd. operates as a communication component manufacturer in Taiwan. The company offers image, biomedicine, and aerospace, including 3D sensing, fluorescent, fiber laser, and notch filters, as well as imaging applications, such as black, and triple band filters; active and passive optical filters; and data center products.

Full company description

Apogee Optocom Co., Ltd. operates as a communication component manufacturer in Taiwan. The company offers image, biomedicine, and aerospace, including 3D sensing, fluorescent, fiber laser, and notch filters, as well as imaging applications, such as black, and triple band filters; active and passive optical filters; and data center products. It provides optical coating services, including DBR and ODR, mid-to-far infrared, index match ITO, metal, and UV range filter coating services; and measurement services, white light interferometer, spectrophotometer, fourier-transform infrared spectroscopy, and thin film analyzer. Apogee Optocom Co., Ltd. was founded in 2003 and is headquartered in Tainan City, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Apogee Optocom Co reported revenue of 487M TWD in FY2025 versus 519M TWD in FY2021, a compound −1.6%/yr. Reported net income was −30.0M TWD in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
487M TWD
Latest YoY
+47.7%
Avg. growth/yr (3Y) 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.
−7.9%
Avg. growth/yr (5Y) 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.
−7.3%
Avg. growth/yr (14Y) 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.
+2.2%
Revenue −1.6%/yr
FY21 519M TWD
FY22 624M TWD
FY23 363M TWD
FY24 330M TWD
FY25 487M TWD
Net income
FY21 11.7M TWD
FY22 89.6M TWD
FY23 −103M TWD
FY24 −138M TWD
FY25 −30.0M TWD

6426 screens 87% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "Apogee Optocom Co Fair Value". https://www.fairvalue-calculator.com/stock/6426

Peer Group

Communication Equipment · 288 stocks

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.

Quality Score 75 · Top 25%
Fair Value upside −87% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 13% · Top 25%
Revenue growth 56% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/B 0.22× · Cheaper than 75% of peers
P/S (TTM) 0.37× · Cheaper than 75% of peers
P/FCF 3.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 30
PAST 9 · sector 15
HEALTH 100 · sector 98
DIVIDEND 0 · sector 25

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
Telefonaktiebolaget LM Ericsson (publ), ERICB kr 98.54 kr 157.82 +60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is Apogee Optocom Co (6426) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 28.41 TWD versus a price of 217.50 TWD, about −87% (overvalued).
What is the fair value of 6426?
Our model-based fair value for Apogee Optocom Co is 28.41 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 217.50 TWD.
What is the quality score of 6426?
Apogee Optocom Co has a Quality Score of 75/100. 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 revenue of Apogee Optocom Co (6426)?
Apogee Optocom Co reported trailing-twelve-month revenue of about 543M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6426?
The net profit margin of Apogee Optocom Co is about 3.7%, meaning it keeps roughly 3.7% of revenue as net income. Based on the latest reported figures.

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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