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Calitech Co (6532) Fair Value & Analysis

Technology · TW · Market cap 2.6B TWD

CC Calitech Co 6532 · TWO
Price83.50 TWD
Fair Value72.72 TWD
Upside-12.9%
Quality57/100
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Expensive Growth
Highly profitable · 40.3% net margin
Low debt · negative free cash flow
4.43% dividend yield
Ranks above peers (11/13)
Wide moat 71/100
Evidence: High Range 55.54 TWD – 97.99 TWD Share as image

Fair value as of: Jul 21, 2026

From 16 valuation models · updated 20 days ago

Share price +7.1% over the past month.

A solid business, but screening 13% overvalued on our models.

What matters now

  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from 55.54 TWD (bear) to 97.99 TWD (bull), base 72.72 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 57/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

114.00 TWD 32.02 TWD Fair Value 72.72 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 32.02 TWD – 114.00 TWD · fair‑value band 55.54 TWD – 97.99 TWD · the 83.50 TWD price screens above the 72.72 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Calitech Co (6532) currently trades at 83.50 TWD, while our model-based Fair Value estimate is 72.72 TWD, implying the stock looks roughly 12.9% overvalued today. The Quality Score stands at 57/100 (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, Calitech Co generated revenue of 638M TWD at a net margin of 40.3%. Revenue declined 19.1% year over year. It earns a return on equity of 23.0%. The balance sheet holds a net cash position of 150M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 55.54 TWD (bear case) to 97.99 TWD (bull case); at 83.50 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 32% below its 52-week high and 70% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -13%, 6532 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 45.58 TWD 59.83 TWD 227.33 TWD 76
ROIC Compounder 32.03 TWD 37.41 TWD 44.33 TWD 72
Gordon GGM 22.83 TWD 44.63 TWD 68.90 TWD 70
All 16 models by family
DCF Models
Owner Earnings 41.05 TWD 57.73 TWD 81.10 TWD 31
Earnings-Based
Graham-Dodd 49.74 TWD 130.73 TWD 170.68 TWD 54
PEG = 1.0 25.04 TWD 35.77 TWD 46.50 TWD 46
EPV 32.03 TWD 36.40 TWD 40.17 TWD 59
Dividend Discount
Gordon GGM 22.83 TWD 44.63 TWD 68.90 TWD 70
DDM Multi-Stage 22.83 TWD 34.63 TWD 46.75 TWD 61
Multiples
P/E Multiple 109.71 TWD 146.28 TWD 182.85 TWD 63
P/S Multiple 33.79 TWD 45.06 TWD 56.32 TWD 58
P/B Multiple 76.50 TWD 102.00 TWD 127.51 TWD 55
EV/EBIT 55.88 TWD 73.05 TWD 90.23 TWD 53
EV/EBITDA 52.92 TWD 69.11 TWD 85.30 TWD 54
EV/Revenue 35.89 TWD 49.41 TWD 62.92 TWD 43
Asset-Based
NCAV (Graham) 17.00 TWD 22.78 TWD 34.00 TWD 50
Economic Profit
Residual Income 45.58 TWD 59.83 TWD 227.33 TWD 76
ROIC Compounder 32.03 TWD 37.41 TWD 44.33 TWD 72
Growth Earnings
Growth-Adj P/E 86.20 TWD 123.14 TWD 160.08 TWD 68

Widest divergence: Growth Earnings (123.14 TWD) versus Asset-Based (22.78 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 638M TWD
Revenue growth (YoY) -19.1%
Net margin 40.3%
Return on equity 23.0%
Free cash flow −16.2M TWD FY2025
P/E ratio 12.3
More key figures
Operating margin 21.1%
EPS (TTM) 7.22 TWD
Dividend yield 3.5%
EPS growth (YoY) -35.2%
Net cash 150M TWD FY2023

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 57 · Market factors (momentum, volatility) 59

Profitability 65
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 26
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 52
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

Calitech Co., Ltd. develops technology solutions for semiconductor, III/V, MEMS, LED, and display industries in Taiwan, Mainland China, Singapore, the United States, Malaysia, Japan, Germany, and internationally. It offers semiconductor critical components for applications in chemical mechanical polishing, etching, and chemical and physical vapor deposition.

Full company description

Calitech Co., Ltd. develops technology solutions for semiconductor, III/V, MEMS, LED, and display industries in Taiwan, Mainland China, Singapore, the United States, Malaysia, Japan, Germany, and internationally. It offers semiconductor critical components for applications in chemical mechanical polishing, etching, and chemical and physical vapor deposition. The company also provides systems, such as spray solvent tools, spray acid tools, and spin rinse dryers; and electrostatic chucks for semiconductor and other industries. In addition, it offers electrochemical surface treatments, bead blasting, plasma thermal spray, vacuum brazing, precision cleaning, failure analysis, inspection, and other services. Further, the company installs computer equipment; wholesales of electronic material; and manufactures of industrial plastic products, machinery, and equipment. Additionally, it is involved in the secondary processing of steel and aluminum products and international trade activities; and offers electronic components. Calitech Co., Ltd. was founded in 1998 and is based in Hsinchu City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Calitech Co reported revenue of 675M TWD in FY2025 versus 506M TWD in FY2021, a compound +7.5%/yr. Reported net income was 274M TWD in FY2025, compounding +30.3%/yr from FY2021.

Growth Quality 33/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
675M TWD
Latest YoY
−6.2%
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.
+0.6%
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.
+4.3%
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.
+8.0%
Revenue +7.5%/yr
FY21 506M TWD
FY22 663M TWD
FY23 694M TWD
FY24 720M TWD
FY25 675M TWD
Net income +30.3%/yr
FY21 94.9M TWD
FY22 181M TWD
FY23 134M TWD
FY24 151M TWD
FY25 274M TWD

6532 screens 13% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "Calitech Co Fair Value". https://www.fairvalue-calculator.com/stock/6532

Peer Group

Semiconductor Equipment & Materials · 212 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 57 · Above median
Fair Value upside −13% · Top 25%
Return on equity (TTM) 23% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 40% · Top 25%
Operating margin (TTM) 21% · Top 25%
Revenue growth -19% · Bottom 25%
Dividend yield (TTM) 4.4% · Top 25%

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 9.6× · Cheaper than 75% of peers
P/B 2.05× · Cheaper than median
P/S (TTM) 4.08× · Pricier than median
EV/EBITDA 15.0× · 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 16 · sector 0
FUTURE 0 · sector 58
PAST 92 · sector 30
HEALTH 100 · sector 96
DIVIDEND 89 · sector 16

Insider activity: 45/100

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is Calitech Co (6532) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 72.72 TWD versus a price of 83.50 TWD, about −13% (overvalued).
What is the fair value of 6532?
Our model-based fair value for Calitech Co is 72.72 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 83.50 TWD.
What is the quality score of 6532?
Calitech Co has a Quality Score of 57/100. 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 Calitech Co (6532)?
Calitech Co reported trailing-twelve-month revenue of about 638M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6532?
The net profit margin of Calitech Co is about 40.3%, meaning it keeps roughly 40.3% of revenue as net income. Based on the latest reported figures.
Does Calitech Co pay a dividend?
Calitech Co currently shows a dividend yield of about 3.52% 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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