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ATrack Technology Inc (6465) Fair Value & Analysis

Technology · TW · Market cap 2.6B TWD

AT ATrack Technology Inc 6465 · TWO
Price47.40 TWD
Fair Value11.02 TWD
Upside-76.8%
Quality69/100
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Weak Growth
Highly profitable · 41.3% net margin
Low debt · generates free cash flow
0.38% dividend yield
Mixed vs. peers (8/14)
Wide moat 84/100
Evidence: High Range 8.30 TWD – 14.97 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price −25.1% over the past month.

A solid business, but screening 77% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (14.97 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (8.30 TWD to 14.97 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

71.20 TWD 12.60 TWD Fair Value 11.02 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 12.60 TWD – 71.20 TWD · fair‑value band 8.30 TWD – 14.97 TWD · the 47.40 TWD price screens above the 11.02 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

ATrack Technology Inc (6465) currently trades at 47.40 TWD, while our model-based Fair Value estimate is 11.02 TWD, implying the stock looks roughly 76.8% overvalued today. The Quality Score stands at 69/100 (solid 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: high).

Over the trailing twelve months, ATrack Technology Inc generated revenue of 295M TWD at a net margin of 41.3%. Revenue grew 82.6% year over year. It earns a return on equity of 25.0%. Net debt stands at 190M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 8.30 TWD (bear case) to 14.97 TWD (bull case); at 47.40 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 22% below its 52-week high and 265% 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 -77%, 6465 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 7.14 TWD 8.97 TWD 11.86 TWD 80
Residual Income 8.30 TWD 8.92 TWD 9.87 TWD 76
Rev-Margin DCF 7.65 TWD 10.81 TWD 14.53 TWD 74
All 24 models by family
DCF Models
FCF DCF 6.95 TWD 8.86 TWD 12.09 TWD 38
Owner Earnings 7.40 TWD 9.47 TWD 12.95 TWD 31
5Y Revenue Exit 7.65 TWD 10.72 TWD 14.97 TWD 39
5Y EBITDA Exit 8.80 TWD 12.69 TWD 17.58 TWD 41
5Y P/E Exit 10.08 TWD 14.88 TWD 20.28 TWD 38
10Y Revenue Exit 7.14 TWD 9.74 TWD 12.79 TWD 36
10Y EBITDA Exit 8.02 TWD 11.02 TWD 14.50 TWD 37
10Y P/E Exit 8.79 TWD 12.44 TWD 16.28 TWD 35
Earnings-Based
Graham-Dodd 5.57 TWD 10.13 TWD 12.51 TWD 54
EPV 7.89 TWD 8.92 TWD 9.80 TWD 59
Dividend Discount
Gordon GGM 5.73 TWD 7.46 TWD 9.17 TWD 70
DDM Multi-Stage 5.73 TWD 7.73 TWD 10.04 TWD 61
Multiples
P/E Multiple 12.29 TWD 16.38 TWD 20.48 TWD 63
P/S Multiple 10.00 TWD 13.34 TWD 16.67 TWD 58
P/B Multiple 10.45 TWD 13.93 TWD 17.41 TWD 55
EV/EBIT 12.11 TWD 15.67 TWD 19.24 TWD 53
EV/EBITDA 11.30 TWD 14.59 TWD 17.89 TWD 54
EV/Revenue 8.62 TWD 11.71 TWD 14.80 TWD 43
Asset-Based
NCAV (Graham) 4.98 TWD 6.67 TWD 9.95 TWD 50
Growth DCF
Growth DCF 7.14 TWD 8.97 TWD 11.86 TWD 80
Rev-Margin DCF 7.65 TWD 10.81 TWD 14.53 TWD 74
Economic Profit
Residual Income 8.30 TWD 8.92 TWD 9.87 TWD 76
ROIC Compounder 7.89 TWD 8.92 TWD 9.80 TWD 72
Growth Earnings
Growth-Adj P/E 8.72 TWD 12.45 TWD 16.19 TWD 68

Widest divergence: Multiples (13.93 TWD) versus Asset-Based (6.67 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 295M TWD
Revenue growth (YoY) +82.6%
Net margin 41.3%
Return on equity 25.0%
Free cash flow 28.1M TWD FY2025
P/E ratio 70.8
More key figures
Operating margin 32.1%
EPS (TTM) 0.8600 TWD
Dividend yield 0.4%
Net debt 190M TWD FY2023

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 65 · Market factors (momentum, volatility) 69

Profitability 47
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 77
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 50
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

ATrack Technology Inc. telematics products and services in Taiwan, the United States, Canada, Japan, France, Australia, Mexico, and internationally. It offers telematics gateway and tracking, and asset tracking products, as well as accessories. The company also provides AI Vision dash cameras and rugged Bluetooth sensors.

Full company description

ATrack Technology Inc. telematics products and services in Taiwan, the United States, Canada, Japan, France, Australia, Mexico, and internationally. It offers telematics gateway and tracking, and asset tracking products, as well as accessories. The company also provides AI Vision dash cameras and rugged Bluetooth sensors. In addition, it offers software products, such as ATrack Device Management, a web-based centralized device management platform; ATrack Configuration Tool, a windows-based utility tool; and Bluetooth Configation Tool. The company provides its products and services to in logistics, construction and mining, cold chain, school bus, taxi, car sharing and rental, and agriculture industries. ATrack Technology Inc. was founded in 2010 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ATrack Technology Inc reported revenue of 263M TWD in FY2025 versus 209M TWD in FY2021, a compound +6.0%/yr. Reported net income was 40.4M TWD in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
263M TWD
Latest YoY
+63.6%
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.
+11.3%
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.
+1.8%
Avg. growth/yr (8Y) 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.
+0.9%
Revenue +6.0%/yr
FY21 209M TWD
FY22 191M TWD
FY23 242M TWD
FY24 161M TWD
FY25 263M TWD
Net income
FY21 −47.9M TWD
FY22 −90.9M TWD
FY23 −52.9M TWD
FY24 −65.7M TWD
FY25 40.4M TWD

6465 screens 77% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "ATrack Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/6465

Peer Group

Communication Equipment · 286 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 69 · Top 25%
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 25% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 41% · Top 25%
Operating margin (TTM) 32% · Top 25%
Revenue growth 83% · Top 25%
Dividend yield (TTM) 0.4% · Bottom 25%

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 65.2× · Pricier than median
P/B 5.37× · Pricier than 75% of peers
P/S (TTM) 8.94× · Pricier than 75% of peers
P/FCF 2.9× · Cheaper than median
EV/EBITDA 27.5× · Pricier 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 100 · sector 15
HEALTH 100 · sector 98
DIVIDEND 8 · 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 21, 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%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is ATrack Technology Inc (6465) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 11.02 TWD versus a price of 47.40 TWD, about −77% (overvalued).
What is the fair value of 6465?
Our model-based fair value for ATrack Technology Inc is 11.02 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 47.40 TWD.
What is the quality score of 6465?
ATrack Technology Inc has a Quality Score of 69/100. 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 ATrack Technology Inc (6465)?
ATrack Technology Inc reported trailing-twelve-month revenue of about 295M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6465?
The net profit margin of ATrack Technology Inc is about 41.3%, meaning it keeps roughly 41.3% of revenue as net income. Based on the latest reported figures.
Does ATrack Technology Inc pay a dividend?
ATrack Technology Inc currently shows a dividend yield of about 0.38% relative to its recent price (as of Jul 21, 2026).

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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