GEM Services Inc (6525) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of GEM Services Inc TWD 145, price TWD 134, upside +8.8%, quality 79 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 24, 2026.
How to read this chart
60‑month range 55.80 TWD – 221.00 TWD · fair‑value band 97.82 TWD – 188.82 TWD · the 133.50 TWD price screens below the 145.25 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 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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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. 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 133.50 TWD, while our model-based Fair Value estimate is 145.25 TWD, implying the stock looks roughly 8.1% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 145.25 TWD per share, and 9 of the 26 models we run sit above the 133.50 TWD price.
Bear case: the Asset-Based group reads lowest at 24.37 TWD, and 17 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 97.82 TWD (bear) to 188.82 TWD (bull), the price of 133.50 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 79/100 (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 20.3B TWD (≈ $638M) · P/E ratio 23.0 · P/S ratio 3.27 · EPS (TTM) 5.81 TWD · Dividend yield 3.7% · Net margin 14.2% · Return on equity 18.2% · Return on assets (EBIT) 13.6%.
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 40% below its 52-week high and 83% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at 9%, 6525 screens cheaper than that median.
Fair Value models
Bear 97.82 TWDFair Value 145.25 TWDBull 188.82 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 (0.5925 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.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.
+5.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.1%
Dividend (yield on the price)3.7%
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% vs 3%, 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%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+7.9%
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 +6.3% 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 · 340 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score79 · Top 25%
Fair Value upside+9% · Top 25%
Profitability
Return on equity (TTM)18% · Top 25%
Return on assets10% · Top 25%
Net margin (TTM)14% · Above median
Operating margin (TTM)19% · Top 25%
Growth and dividend
Revenue growth12% · Below median
Dividend yield (TTM)3.7% · Top 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
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Is GEM Services Inc (6525) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 145.25 TWD versus a price of 133.50 TWD, about +9% upside (fairly valued).
What is the fair value of 6525?
Our model-based fair value for GEM Services Inc is 145.25 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 133.50 TWD.
What is the quality score of 6525?
GEM Services Inc has a Quality Score of 79/100. 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 145.25 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 97.82 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 145.25 TWD, about +9% upside versus a price of 133.50 TWD (fairly valued). Cautious scenario 97.82 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 5.5B TWD (latest available figure, as of Sep 24, 2026).
Does GEM Services Inc pay a dividend?
GEM Services Inc currently shows a dividend yield of about 3.75% relative to its recent price (as of Sep 24, 2026).
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 +7.9 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6525 use?
Our models discount GEM Services Inc at 10.4 %: a base by market capitalisation (small), damped by beta 0.54, 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 +7.9 % per year a year over ten years, using the same discount rate (10.4 %) 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 +7.9 % 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 GEM Services Inc (6525) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into GEM Services Inc (+7.9 % 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 GEM Services Inc (6525)?
The free-cash-flow yield on the price is 5.06 %: that much free cash flow GEM Services Inc produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), 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 145.25 TWD per share (as of Sep 24, 2026), against a price of 133.50 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is GEM Services Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6525 trades below its calculated fair value: price 133.50 TWD, fair value 145.25 TWD, a gap of about +9% (fairly valued). 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 (133.50 TWD); the fair value is what the company's own numbers justify (145.25 TWD). For GEM Services Inc the two are 11.75 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 20.3B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 133.50 TWD; our models calculate a fair value of 145.25 TWD per share.
What do the bullish and bearish scenarios say about 6525?
Our models span a range for GEM Services Inc: cautious scenario 97.82 TWD, base 145.25 TWD, optimistic 188.82 TWD per share (as of Sep 24, 2026, price 133.50 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 23.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 145.25 TWD is built from several models across several years. Other multiples: P/B 4.3, P/S 3.7, EV/EBITDA 11.3.
How solid is the balance sheet of GEM Services Inc (6525)?
Balance-sheet figures for GEM Services Inc (as of Sep 24, 2026): return on equity 18.2%. They feed the Quality Score of 79/100, which measures business quality independently of the share price.
How far is 6525 from its 52-week high?
GEM Services Inc trades at 133.50 TWD, about 40% below its 52-week high of 221.00 TWD and 83% above the low of 73.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 145.25 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, SK hynix 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 Sep 24, 2026: price 133.50 TWD, calculated fair value 145.25 TWD (+9%), Quality Score 79/100, 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 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 145.25 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. GEM Services Inc currently trades 9 % 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 Sep 24, 2026 was 133.50 TWD. Our model-based fair value is 145.25 TWD, about +9% upside (fairly valued). 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 price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (97.82 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 20.3B TWD (≈ $638M). 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 3.27 (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 GEM Services Inc (6525)?
Earnings per share at GEM Services Inc are 5.81 TWD (price ÷ EPS = P/E 23.0). 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 3.7% (payout 86.1%). 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 14.2% (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 GEM Services Inc (6525)?
The return on equity (ROE) of GEM Services Inc is 18.2% (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 19.1% (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 +11.8% 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 +13.5% 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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