Topview Optronics Corporation (6556) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Topview Optronics Corporation TWD 105, price TWD 61.50, upside +70.8%, quality 64 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 23, 2026.
How to read this chart
60‑month range 30.67 TWD – 154.41 TWD · fair‑value band 76.28 TWD – 140.75 TWD · the 61.50 TWD price screens below the 105.01 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Topview Optronics Corporation manufactures, sells, imports, and exports security surveillance cameras in Taiwan. The company provides video devices with cyber security. It also offers advanced video AIoT solutions through partnerships with third-party providers.
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Topview Optronics Corporation manufactures, sells, imports, and exports security surveillance cameras in Taiwan. The company provides video devices with cyber security. It also offers advanced video AIoT solutions through partnerships with third-party providers. In addition, the company provides standard dome, bullet, box, wedge, and turret cameras; wideview PTZ, fisheye, and multi-sensor cameras; and specialty corner cameras. Further, the company offers NVR and NVR kit products; and accessories, such as camera brackets, mounts, and networking peripherals. Topview Optronics Corporation was founded in 1994 and is based in Taoyuan City, Taiwan.
Stock analysis
Topview Optronics Corporation (6556) currently trades at 61.50 TWD, while our model-based Fair Value estimate is 105.01 TWD, implying the stock looks roughly 41.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 142.44 TWD per share, and 19 of the 24 models we run sit above the 61.50 TWD price.
Bear case: the Dividend Discount group reads lowest at 35.18 TWD, and 5 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 76.28 TWD (bear) to 140.75 TWD (bull), the price of 61.50 TWD sits below 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 64/100 (solid quality), in the Industrials sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Topview Optronics Corporation reported revenue of 1.4B TWD in FY2025 versus 2.0B TWD in FY2021, a compound −8.6%/yr. Reported net income was 195M TWD in FY2025, compounding +11.1%/yr from FY2021.
Key figures
Market cap 1.8B TWD (≈ $55.5M) · P/E ratio 9.1 · P/S ratio 1.28 · EPS (TTM) 6.73 TWD · Dividend yield 5.7% · Net margin 14.0% · Return on equity 12.5% · Return on assets (EBIT) 11.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (medium confidence).
What moves the price
The share trades about 27% below its 52-week high, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −10% fair-value upside, at 71%, 6556 screens cheaper than that median.
Fair Value models
Bear 76.28 TWDFair Value 105.01 TWDBull 140.75 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 (2.36 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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
+30.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.9%
Dividend (yield on the price)5.7%
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.5% → 17%
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+0.8%
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 −0.8% a year for the price.
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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.Security & Protection Services · 113 stocks
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Is Topview Optronics Corporation (6556) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 105.01 TWD versus a price of 61.50 TWD, about +71% upside (undervalued).
What is the fair value of 6556?
Our model-based fair value for Topview Optronics Corporation is 105.01 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 61.50 TWD.
What is the quality score of 6556?
Topview Optronics Corporation has a Quality Score of 64/100. 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 Topview Optronics Corporation (6556)?
Our model-based price target is the fair value of 105.01 TWD (as of Sep 23, 2026) from 24 valuation models. Cautious scenario 76.28 TWD, optimistic scenario 140.75 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Topview Optronics Corporation stock forecast for 2026?
Our models put fair value at 105.01 TWD, about +71% upside versus a price of 61.50 TWD (undervalued). Cautious scenario 76.28 TWD, optimistic scenario 140.75 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Topview Optronics Corporation (6556)?
Topview Optronics Corporation reported trailing-twelve-month revenue of about 1.4B TWD (latest available figure, as of Sep 23, 2026).
Does Topview Optronics Corporation pay a dividend?
Topview Optronics Corporation currently shows a dividend yield of about 5.69% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Topview Optronics Corporation (6556)?
For today's price to be fair in a discounted-cash-flow model, Topview Optronics Corporation would have to grow free cash flow by +0.8 % per year for five years (discount rate 12.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.4 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 6556 use?
Our models discount Topview Optronics Corporation at 12.2 %: a base by market capitalisation (micro), damped by beta 0.66, 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 Topview Optronics Corporation that is +0.8 % per year a year over ten years, using the same discount rate (12.2 %) and the same formula as our fair value.
How much growth has Topview Optronics Corporation (6556) delivered so far?
Over the past 5 years revenue at Topview Optronics Corporation grew -2.4 % a year. The price currently implies +0.8 % 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 Topview Optronics Corporation (6556) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Topview Optronics Corporation (+0.8 % 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 Topview Optronics Corporation (6556)?
The free-cash-flow yield on the price is 7.87 %: that much free cash flow Topview Optronics Corporation produces per unit of market value. When it exceeds the discount rate of our models (12.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Topview Optronics Corporation (6556)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Topview Optronics Corporation it is 105.01 TWD per share (as of Sep 23, 2026), against a price of 61.50 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Topview Optronics Corporation stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 6556 trades below its calculated fair value: price 61.50 TWD, fair value 105.01 TWD, a gap of about +71% (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 6556?
No. The price is what the market pays today (61.50 TWD); the fair value is what the company's own numbers justify (105.01 TWD). For Topview Optronics Corporation the two are 43.51 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Topview Optronics Corporation worth?
The market values Topview Optronics Corporation at about 1.8B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 61.50 TWD; our models calculate a fair value of 105.01 TWD per share.
What do the bullish and bearish scenarios say about 6556?
Our models span a range for Topview Optronics Corporation: cautious scenario 76.28 TWD, base 105.01 TWD, optimistic 140.75 TWD per share (as of Sep 23, 2026, price 61.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6556?
Topview Optronics Corporation trades at a price-to-earnings ratio of 9.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 105.01 TWD is built from several models across several years. Other multiples: P/B 1.1, P/S 1.3, EV/EBITDA 5.4.
How solid is the balance sheet of Topview Optronics Corporation (6556)?
Balance-sheet figures for Topview Optronics Corporation (as of Sep 23, 2026): return on equity 12.5%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 6556 from its 52-week high?
Topview Optronics Corporation trades at 61.50 TWD, about 27% below its 52-week high of 84.50 TWD (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 105.01 TWD is for.
Which stocks are comparable to Topview Optronics Corporation?
From the same area (Industrials) we also value Verisure plc, Allegion plc, Zhejiang Dahua Technology Co, MSA Safety Incorporated, 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 Topview Optronics Corporation stock attractive at the current price?
The data as of Sep 23, 2026: price 61.50 TWD, calculated fair value 105.01 TWD (+71%), Quality Score 64/100, from 24 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 6556 calculated?
We run Topview Optronics Corporation through 24 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 105.01 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. Topview Optronics Corporation currently trades 71 % 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 Topview Optronics Corporation (6556)?
The closing price on Sep 23, 2026 was 61.50 TWD. Our model-based fair value is 105.01 TWD, about +71% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Topview Optronics Corporation right now?
The price is below even our cautious bear case (76.28 TWD). The market is more pessimistic than our downside scenario. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (76.28 TWD to 140.75 TWD) leaves room in how you read the outcome.
Key figures of Topview Optronics Corporation
How large is the market capitalisation of Topview Optronics Corporation (6556)?
The market capitalisation of Topview Optronics Corporation is 1.8B TWD (≈ $55.5M). 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 Topview Optronics Corporation (6556)?
The price-to-sales ratio of Topview Optronics Corporation is 1.28 (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 Topview Optronics Corporation (6556)?
Earnings per share at Topview Optronics Corporation are 6.73 TWD (price ÷ EPS = P/E 9.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Topview Optronics Corporation (6556)?
The dividend yield of Topview Optronics Corporation is 5.7% (payout 52.0%). 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 Topview Optronics Corporation (6556)?
The net margin of Topview Optronics Corporation is 14.0% (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 Topview Optronics Corporation (6556)?
The return on equity (ROE) of Topview Optronics Corporation is 12.5% (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 Topview Optronics Corporation (6556)?
On an EBIT basis the return on assets of Topview Optronics Corporation is 11.8% (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 Topview Optronics Corporation (6556)?
The operating margin of Topview Optronics Corporation is 16.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Topview Optronics Corporation (6556)?
Revenue at Topview Optronics Corporation is growing +3.1% versus a year earlier (3y avg −14.8%). 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 Topview Optronics Corporation (6556)?
Earnings per share at Topview Optronics Corporation are growing −14.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Topview Optronics Corporation (6556) hold?
Topview Optronics Corporation holds more cash than debt, 187M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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