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Onyx Healthcare Inc (6569) Fair Value & Analysis

Healthcare · TW · Market cap 3.9B TWD

OH Onyx Healthcare Inc 6569 · TWO
Price95.00 TWD
Fair Value43.29 TWD
Upside-54.4%
Quality64/100
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Weak Growth
Solidly profitable · 10.5% net margin
Low debt · generates free cash flow
2.53% dividend yield
Mixed vs. peers (8/14)
Narrow moat 44/100
Evidence: High Range 36.59 TWD – 51.82 TWD Share as image

Fair value as of: Jul 21, 2026

From 22 valuation models · updated 20 days ago

Share price −10.8% over the past month.

A solid business, but screening 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (51.82 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

215.63 TWD 67.28 TWD Fair Value 43.29 TWD Feb 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 67.28 TWD – 215.63 TWD · fair‑value band 36.59 TWD – 51.82 TWD · the 95.00 TWD price screens above the 43.29 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Onyx Healthcare Inc (6569) currently trades at 95.00 TWD, while our model-based Fair Value estimate is 43.29 TWD, implying the stock looks roughly 54.4% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Healthcare 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, Onyx Healthcare Inc generated revenue of 1.4B TWD at a net margin of 10.5%. Revenue grew 21.8% year over year. It earns a return on equity of 9.0%. The balance sheet holds a net cash position of 160M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 36.59 TWD (bear case) to 51.82 TWD (bull case); at 95.00 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 40% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -53% fair-value upside, at -54%, 6569 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 43.12 TWD 55.44 TWD 75.85 TWD 80
Residual Income 32.19 TWD 33.74 TWD 35.74 TWD 76
Rev-Margin DCF 27.09 TWD 33.61 TWD 41.99 TWD 74
All 22 models by family
DCF Models
FCF DCF 41.64 TWD 54.43 TWD 77.38 TWD 38
Owner Earnings 35.04 TWD 45.42 TWD 64.04 TWD 31
5Y Revenue Exit 27.09 TWD 32.77 TWD 40.94 TWD 39
5Y EBITDA Exit 30.60 TWD 38.84 TWD 49.77 TWD 41
5Y P/E Exit 44.99 TWD 63.75 TWD 86.16 TWD 38
10Y Revenue Exit 32.45 TWD 37.14 TWD 41.82 TWD 36
10Y EBITDA Exit 34.83 TWD 40.81 TWD 46.88 TWD 37
10Y P/E Exit 43.37 TWD 55.87 TWD 67.76 TWD 35
Earnings-Based
Graham-Dodd 19.52 TWD 23.85 TWD 26.84 TWD 54
EPV 12.54 TWD 13.46 TWD 14.26 TWD 59
Multiples
P/E Multiple 47.36 TWD 63.14 TWD 78.93 TWD 63
P/S Multiple 36.59 TWD 48.79 TWD 60.99 TWD 58
P/B Multiple 36.59 TWD 48.79 TWD 60.99 TWD 55
EV/EBIT 23.10 TWD 28.57 TWD 34.04 TWD 53
EV/EBITDA 26.06 TWD 32.52 TWD 38.98 TWD 54
EV/Revenue 18.40 TWD 23.42 TWD 28.44 TWD 43
Asset-Based
NCAV (Graham) 20.09 TWD 26.93 TWD 40.19 TWD 50
Growth DCF
Growth DCF 43.12 TWD 55.44 TWD 75.85 TWD 80
Rev-Margin DCF 27.09 TWD 33.61 TWD 41.99 TWD 74
Economic Profit
Residual Income 32.19 TWD 33.74 TWD 35.74 TWD 76
ROIC Compounder 12.54 TWD 13.46 TWD 14.26 TWD 72
Growth Earnings
Growth-Adj P/E 33.38 TWD 47.69 TWD 62.00 TWD 68

Widest divergence: Growth Earnings (47.69 TWD) versus Earnings-Based (13.46 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.4B TWD
Revenue growth (YoY) +21.8%
Net margin 10.5%
Return on equity 9.0%
Free cash flow 147M TWD FY2025
P/E ratio 39.4
More key figures
Operating margin 8.0%
EPS (TTM) 2.87 TWD
Dividend yield 2.2%
EPS growth (YoY) +426%
Net cash 160M TWD FY2023

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 64 · Market factors (momentum, volatility) 40

Profitability 39
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 70
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

Onyx Healthcare Inc., a professional medical IT company, engages in the design, manufacture, and trade of medical computers and peripherals for hospital/clinical IT market in Taiwan, the United States, and internationally. The company offers medical AI computer; medical tablet, power bank, and display; and medical panel and box PC.

Full company description

Onyx Healthcare Inc., a professional medical IT company, engages in the design, manufacture, and trade of medical computers and peripherals for hospital/clinical IT market in Taiwan, the United States, and internationally. The company offers medical AI computer; medical tablet, power bank, and display; and medical panel and box PC. It also provides ODM/OEM services; smart view medical stations; fan less slim panel PC; medical display; healthcare infotainment; and medical pc and mobile computing cart. The company was incorporated in 2010 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Onyx Healthcare Inc reported revenue of 1.3B TWD in FY2025 versus 1.2B TWD in FY2021, a compound +2.2%/yr. Reported net income was 112M TWD in FY2025, compounding −3.2%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.3B TWD
Latest YoY
+5.8%
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.
−6.4%
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.
−0.5%
Avg. growth/yr (6Y) 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.
−2.0%
Revenue +2.2%/yr
FY21 1.2B TWD
FY22 1.6B TWD
FY23 1.5B TWD
FY24 1.2B TWD
FY25 1.3B TWD
Net income −3.2%/yr
FY21 128M TWD
FY22 203M TWD
FY23 255M TWD
FY24 181M TWD
FY25 112M TWD

6569 screens 54% overvalued. Compare with Veeva Systems Inc →

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Cite: Fair Value Calculator (2026). "Onyx Healthcare Inc Fair Value". https://www.fairvalue-calculator.com/stock/6569

Peer Group

Health Information Services · 126 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 64 · Above median
Fair Value upside −54% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 8% · Above median
Revenue growth 22% · Above median
Dividend yield (TTM) 2.5% · Above median
Debt / equity 0.07× · Higher than median

Valuation Multiples vs Health Information Services median · lower = cheaper

P/E (TTM) 35.0× · Pricier than median
P/B 2.50× · Pricier than median
P/S (TTM) 2.84× · Pricier than median
P/FCF 0.8× · Cheaper than 75% of peers
EV/EBITDA 35.4× · Pricier than 75% of peers

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 33
PAST 36 · sector 8
HEALTH 96 · sector 98
DIVIDEND 51 · sector 35

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 Health Information Services stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Veeva Systems Inc VEEV $190.12 $95.12 -50%
Pro Medicus Limited PME A$194.84 A$23.74 -88%
BrightSpring Health Services, Inc BTSG $68.16 $21.31 -69%
HealthEquity, Inc HQY $97.67 $56.63 -42%
Hinge Health, Inc HNGE $88.80 $24.03 -73%
10x Genomics, Inc TXG $45.75 $17.18 -62%
Waystar Holding WAY $22.69 $12.86 -43%
Doximity, Inc DOCS $22.21 $17.18 -23%
Privia Health Group PRVA $28.10 $5.30 -81%
Inventurus Knowledge Solutions Limited IKS ₹1,846 ₹860.28 -53%

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Frequently asked questions

Is Onyx Healthcare Inc (6569) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 43.29 TWD versus a price of 95.00 TWD, about −54% (overvalued).
What is the fair value of 6569?
Our model-based fair value for Onyx Healthcare Inc is 43.29 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 95.00 TWD.
What is the quality score of 6569?
Onyx Healthcare Inc 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 revenue of Onyx Healthcare Inc (6569)?
Onyx Healthcare Inc reported trailing-twelve-month revenue of about 1.4B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6569?
The net profit margin of Onyx Healthcare Inc is about 10.5%, meaning it keeps roughly 10.5% of revenue as net income. Based on the latest reported figures.
Does Onyx Healthcare Inc pay a dividend?
Onyx Healthcare Inc currently shows a dividend yield of about 2.23% 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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