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ShunSin Technology Holdings (6451) Fair Value & Analysis

Technology · TW · Market cap 46.2B TWD

ST ShunSin Technology Holdings 6451 · TW
Price425.50 TWD
Fair Value467.39 TWD
Upside+9.9%
Quality29/100
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Expensive Growth
Loss-making · -0.2% net margin
Moderate debt · negative free cash flow
Trails peers (4/11)
Narrow moat 14/100
Evidence: Medium Range 350.23 TWD – 467.39 TWD Share as image

Fair value as of: Aug 13, 2026

From 16 valuation models · updated today

Share price −13.3% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 350.23 TWD (bear) to 467.39 TWD (bull), base 467.39 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 29/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

724.00 TWD 63.75 TWD Fair Value 467.39 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 63.75 TWD – 724.00 TWD · fair‑value band 350.23 TWD – 467.39 TWD · the 425.50 TWD price screens below the 467.39 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

ShunSin Technology Holdings (6451) currently trades at 425.50 TWD, while our model-based Fair Value estimate is 467.39 TWD, implying the stock looks roughly 9.9% fairly valued today. The Quality Score stands at 29/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, ShunSin Technology Holdings generated revenue of 7.1B TWD at a net margin of -0.2%. Revenue declined 21.4% year over year. It earns a return on equity of 0.5%. Net debt stands at 4.8B TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 350.23 TWD (bear case) to 467.39 TWD (bull case); at 425.50 TWD, the current price sits within 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 44% below its 52-week high and 220% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -54% fair-value upside, at 10%, 6451 screens cheaper 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
Residual Income 1,335 TWD 1,242 TWD 856.49 TWD 76
ROIC Compounder 341.89 TWD 381.45 TWD 416.18 TWD 72
Gordon GGM 106.46 TWD 220.96 TWD 350.57 TWD 70
All 16 models by family
Earnings-Based
Graham-Dodd 56.61 TWD 159.85 TWD 210.34 TWD 54
Lynch FV 32.48 TWD 46.31 TWD 60.14 TWD 50
PEG = 1.0 32.48 TWD 46.31 TWD 60.14 TWD 46
EPV 341.89 TWD 381.45 TWD 416.18 TWD 59
Dividend Discount
Gordon GGM 106.46 TWD 220.96 TWD 350.57 TWD 70
DDM Multi-Stage 106.46 TWD 168.53 TWD 231.89 TWD 61
Multiples
P/E Multiple 174.96 TWD 233.50 TWD 291.71 TWD 63
P/S Multiple 106.14 TWD 141.84 TWD 177.22 TWD 58
P/B Multiple 106.14 TWD 141.84 TWD 177.22 TWD 55
EV/EBIT 1,003 TWD 1,303 TWD 1,602 TWD 53
EV/EBITDA 3,717 TWD 4,922 TWD 6,126 TWD 54
EV/Revenue 558.66 TWD 753.25 TWD 948.15 TWD 43
Asset-Based
NCAV (Graham) 988.68 TWD 1,325 TWD 1,977 TWD 50
Economic Profit
Residual Income 1,335 TWD 1,242 TWD 856.49 TWD 76
ROIC Compounder 341.89 TWD 381.45 TWD 416.18 TWD 72
Growth Earnings
Growth-Adj P/E 136.69 TWD 195.23 TWD 254.08 TWD 68

Widest divergence: Asset-Based (1,325 TWD) versus Earnings-Based (46.31 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 7.1B TWD
Revenue growth (YoY) -21.4%
Net margin -0.2%
Return on equity 0.5%
Free cash flow −2.6B TWD FY2025
Operating margin -5.2%
More key figures
EPS (TTM) 0.2500 TWD
EPS growth (YoY) +209%
Net debt 4.8B TWD FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 29/100

Of which business quality 31 · Market factors (momentum, volatility) 69

Profitability 17
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 79
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 0
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

ShunSin Technology Holdings Limited engages in the assembly, testing, and sale of various integrated circuits related to semiconductors in Mainland China, the United States, Taiwan, Malaysia, Singapore, Ireland, and internationally.

Full company description

ShunSin Technology Holdings Limited engages in the assembly, testing, and sale of various integrated circuits related to semiconductors in Mainland China, the United States, Taiwan, Malaysia, Singapore, Ireland, and internationally. The company's products include system in package module, including 2G/2.5G/3G/4G front end and power Amplifier (PA), multi-mode multi band power amplifier, WiFi front end, mobile WiFi, and antenna switch modules; passive optical components; optical transceivers; thick film integrated circuit; and MEMS modules and sensors, such as accelerometers, gyroscopes, G-sensors, pressure and gesture sensors, light and proximity sensors, BAW filters, and TOF sensors. It offers engineering services, such as assembly and testing. The company was formerly known as Amtec Holdings Limited and changed its name to ShunSin Technology Holdings Limited in August 2013. The company was incorporated in 2008 and is based in Zhongshan, China. ShunSin Technology Holdings Limited is a subsidiary of Foxconn (Far East) Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ShunSin Technology Holdings reported revenue of 7.5B TWD in FY2025 versus 4.3B TWD in FY2021, a compound +15.2%/yr. Reported net income was 27.5M TWD in FY2025, compounding −48.9%/yr from FY2021.

Growth Quality 41/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
7.5B TWD
Latest YoY
+45.2%
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.
+12.3%
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.
+9.2%
Avg. growth/yr (13Y) 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.
+5.3%
Revenue +15.2%/yr
FY21 4.3B TWD
FY22 5.3B TWD
FY23 5.2B TWD
FY24 5.2B TWD
FY25 7.5B TWD
Net income −48.9%/yr
FY21 403M TWD
FY22 206M TWD
FY23 434M TWD
FY24 42.7M TWD
FY25 27.5M TWD
Character of growth · EPS growth decomposed (2014-2025) −20.0 % p.a.
Revenue per share −3.6 pp

of which total revenue +2.4 pp · buybacks/dilution −6.1 pp

EBIT margin −16.1 pp
Tax rate −3.8 pp
Residual (interest, one-offs) +3.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "ShunSin Technology Holdings Fair Value". https://www.fairvalue-calculator.com/stock/6451

Peer Group

Semiconductors · 323 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 29 · Bottom 25%
Fair Value upside −9% · Above median
Return on equity (TTM) 0% · Below median
Return on assets 1% · Below median
Net margin (TTM) -0% · Below median
Operating margin (TTM) -5% · Bottom 25%
Revenue growth -21% · Bottom 25%
Debt / equity 0.69× · Higher than 75% of peers

Valuation Multiples vs Semiconductors median · lower = cheaper

P/B 0.22× · Cheaper than 75% of peers
P/S (TTM) 0.20× · Cheaper than 75% of peers
EV/EBITDA 1.2× · Cheaper than 75% of peers

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 25 · sector 0
FUTURE 0 · sector 60
PAST 2 · sector 24
HEALTH 66 · sector 96
DIVIDEND 0 · sector 19

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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $217.50 $98.98 -54%
Taiwan Semiconductor Manufacturing Company TSM $429.15 $291.42 -32%
Broadcom Inc 1AVGO €366.85 €121.25 -67%
Micron Technology, Inc ZMIC C$43.68 C$6.23 -86%
SK hynix Inc 000660 1,504,000 KRW 1,481,291 KRW -2%
Advanced Micro Devices, Inc 1AMD €428.20 €56.33 -87%
Intel Corporation INTC C$54.79 C$11.71 -79%
MediaTek Inc 2454 4,015 TWD 1,559 TWD -61%
SK Square Co 402340 1,024,000 KRW 1,204,862 KRW +18%
GigaDevice Semiconductor Inc 3986 HK$515.00 HK$274.86 -47%

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Frequently asked questions

Is ShunSin Technology Holdings (6451) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 467.39 TWD versus a price of 425.50 TWD, about +10% (fairly valued).
What is the fair value of 6451?
Our model-based fair value for ShunSin Technology Holdings is 467.39 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price is 425.50 TWD.
What is the quality score of 6451?
ShunSin Technology Holdings has a Quality Score of 29/100. 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 ShunSin Technology Holdings (6451)?
ShunSin Technology Holdings reported trailing-twelve-month revenue of about 7.1B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 6451?
The net profit margin of ShunSin Technology Holdings is about -0.2%, meaning it is currently running at a net loss. 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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