GEM Services Inc (6525) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of GEM Services Inc stock TWD 141, price TWD 105, upside +34.3%, quality 81 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 55.80 TWD – 221.00 TWD · fair‑value band 93.57 TWD – 188.82 TWD · the 105.00 TWD price screens below the 141.03 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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GEM Services, Inc. provides services for power management semiconductors. It provides assembly services, including wafer probe, assembly, and test; packaging development; and electrical testing services, such as wafer probe, electrical test, data-log, and characterization testing.
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The company offers reliability testing services comprising reliability testing capability and failure analysis services; and logistic services consisting of drop shipment services and shipping directly to the end customers.
In addition, it is involved in semiconductor packaging and testing foundry; and factory leasing activities. Further, the company engages in the manufacture and sale of electronic parts. The company was incorporated in 1998 and is based in Grand Cayman, Cayman Islands.
GEM Services, Inc. is a subsidiary of Elite Advanced Laser Corporation.
Stock analysis
GEM Services Inc (6525) currently trades at 105.00 TWD, while our model-based Fair Value estimate is 141.03 TWD, implying the stock looks roughly 26% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 145.25 TWD per share, and 14 of the 26 models we run sit above the 105.00 TWD price.
Bear case: the Asset-Based group reads lowest at 15.52 TWD, and 12 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 93.57 TWD (bear) to 188.82 TWD (bull), the price of 105.00 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 81/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
GEM Services Inc reported revenue of 5.3B TWD in FY2025 versus 4.8B TWD in FY2021, a compound +2.9%/yr. Reported net income was 759M TWD in FY2025, compounding −3.0%/yr from FY2021.
Key figures
Market cap 13.5B TWD (≈ $413M) Small · P/E ratio 14.9 · P/S ratio 2.31 · EPS (TTM) 7.06 TWD · Dividend yield 4.8% · Net margin 16.2% · Return on equity 21.3% · Return on assets (EBIT) 13.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 73 out of 100 (low confidence).
What moves the price
The share trades about 52% below its 52-week high and 44% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −12% fair-value upside, at 34%, 6525 screens cheaper than that median.
Fair Value models
Bear93.57 TWDFair Value 141.03 TWDBull188.82 TWD
Price 105.00 TWD · Upside +34.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.77 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+14.0%
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.
+0.7%
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.
+7.3%
Start year 2020 (pandemic). Over 10 years: +6.9% a year
Revenue growth 13 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.
+6.3%
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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.
+6.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.1%
Dividend (yield on the price)4.8%
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.2.1% vs 2.5%, steady
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.23% → 20%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less 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).
+3.9%
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 +2.3% a year for the price.
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 · 405 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score81 · Top 25%
Fair Value upside+37.6% · Top 25%
Profitability
Return on equity (12 months)21.3% · Top 25%
Return on assets11.1% · Top 25%
Net margin (12 months)16.2% · Above median
Operating margin (12 months)22.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)19.0% · Below median
Dividend yield (12 months)4.8% · Top 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
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Is GEM Services Inc (6525) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 141.03 TWD versus a price of 105.00 TWD, about +34% upside (undervalued).
What is the fair value of 6525?
Our model-based fair value for GEM Services Inc is 141.03 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 105.00 TWD.
What is the quality score of 6525?
GEM Services Inc has a Quality Score of 81/100. 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 GEM Services Inc (6525)?
Our model-based price target is the fair value of 141.03 TWD (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 93.57 TWD, optimistic scenario 188.82 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the GEM Services Inc stock forecast for 2026?
Our models put fair value at 141.03 TWD, about +34% upside versus a price of 105.00 TWD (undervalued). Cautious scenario 93.57 TWD, optimistic scenario 188.82 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of GEM Services Inc (6525)?
GEM Services Inc reported trailing-twelve-month revenue of about 5.7B TWD (latest available figure, as of Nov 8, 2026).
Does GEM Services Inc pay a dividend?
GEM Services Inc currently shows a dividend yield of 4.76% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of GEM Services Inc (6525) and when is the ex-dividend date?
GEM Services Inc pays a dividend of 5.00 TWD per share a year, a dividend yield of 4.8%. The last ex-dividend date was Jun 5, 2026. The payout ratio is 70.8% of earnings. Free cash flow covers the dividend 1.37 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into GEM Services Inc (6525)?
For today's price to be fair in a discounted-cash-flow model, GEM Services Inc would have to grow free cash flow by +3.9 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.3 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 6525 use?
Our models discount GEM Services Inc at 11.2 %: a base by market capitalisation (small), damped by beta 0.82, 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 GEM Services Inc that is +3.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has GEM Services Inc (6525) delivered so far?
Over the past 5 years revenue at GEM Services Inc grew +7.3 % a year. The price currently implies free-cash-flow growth of +3.9 % per 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 GEM Services Inc (6525) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into GEM Services Inc (+3.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of GEM Services Inc (6525)?
The free-cash-flow yield on the price is 6.51 %: that much free cash flow GEM Services Inc produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of GEM Services Inc (6525)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GEM Services Inc it is 141.03 TWD per share (as of Nov 8, 2026), against a price of 105.00 TWD. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is GEM Services Inc stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 6525 trades below its calculated fair value: price 105.00 TWD, fair value 141.03 TWD, a gap of about +34% (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 6525?
No. The price is what the market pays today (105.00 TWD); the fair value is what the company's own numbers justify (141.03 TWD). For GEM Services Inc the two are 36.03 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is GEM Services Inc worth?
The market values GEM Services Inc at about 13.5B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 105.00 TWD; our models calculate a fair value of 141.03 TWD per share.
What do the bullish and bearish scenarios say about 6525?
Our models span a range for GEM Services Inc: cautious scenario 93.57 TWD, base 141.03 TWD, optimistic 188.82 TWD per share (as of Nov 8, 2026, price 105.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6525?
GEM Services Inc trades at a price-to-earnings ratio of 14.9 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 141.03 TWD is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings: 13.0. Other multiples: P/B 2.8, P/S 2.3, EV/EBITDA 6.6.
How solid is the balance sheet of GEM Services Inc (6525)?
Balance-sheet figures for GEM Services Inc (as of Nov 8, 2026): return on equity 21.3%. They feed the Quality Score of 81/100, which measures business quality independently of the share price.
How far is 6525 from its 52-week high?
GEM Services Inc trades at 105.00 TWD, about 52% below its 52-week high of 221.00 TWD and 44% above the low of 73.00 TWD (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 141.03 TWD is for.
Which stocks are comparable to GEM Services Inc?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, 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 GEM Services Inc stock attractive at the current price?
The data as of Nov 8, 2026: price 105.00 TWD, calculated fair value 141.03 TWD (+34%), Quality Score 81/100, 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 6525 calculated?
We run GEM Services Inc through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 141.03 TWD builds on their evidence-weighted average, 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 13.7% above its aggregate fair value. GEM Services Inc currently trades 26% 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 GEM Services Inc (6525)?
The closing price on Nov 10, 2026 was 105.00 TWD. Our model-based fair value is 141.03 TWD, about +34% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GEM Services Inc right now?
The rarer combination: high quality (81/100) AND below fair value. That earns a closer look rather than a quick verdict. A fairly wide model range (93.57 TWD to 188.82 TWD) leaves room in how you read the outcome.
Where does the earnings growth of GEM Services Inc (6525) come from?
Earnings per share at GEM Services Inc grew +1.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.9 %, EBIT margin −2.0 %, tax rate −0.7 %, residual (interest, one-offs) −0.7 %. 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 GEM Services Inc
How large is the market capitalisation of GEM Services Inc (6525)?
The market capitalisation of GEM Services Inc is 13.5B TWD (≈ $413M). 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 GEM Services Inc (6525)?
The price-to-sales ratio of GEM Services Inc is 2.31 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of GEM Services Inc (6525)?
Earnings per share at GEM Services Inc are 7.06 TWD (price ÷ EPS = P/E 14.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of GEM Services Inc (6525)?
The dividend yield of GEM Services Inc is 4.8% (payout 70.8%). 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 GEM Services Inc (6525)?
The net margin of GEM Services Inc is 16.2% (last twelve months). 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 GEM Services Inc (6525)?
The return on equity (ROE) of GEM Services Inc is 21.3% (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 GEM Services Inc (6525)?
On an EBIT basis the return on assets of GEM Services Inc is 13.6% (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 GEM Services Inc (6525)?
The operating margin of GEM Services Inc is 22.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GEM Services Inc (6525)?
Revenue at GEM Services Inc is growing +19.0% versus a year earlier (3y avg +0.7%). 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 GEM Services Inc (6525)?
Earnings per share at GEM Services Inc are growing +101% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does GEM Services Inc (6525) hold?
GEM Services Inc holds more cash than debt, 1.8B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 8, 2026