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Aplex Technology Inc (6570) Fair Value & Analysis

Technology · TW · Market cap 1.9B TWD

AT Aplex Technology Inc 6570 · TWO
Price57.30 TWD
Fair Value17.21 TWD
Upside-70.0%
Quality52/100
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Expensive Growth
Thin margins · 6.4% net margin
Low debt · generates free cash flow
2.12% dividend yield
Trails peers (5/14)
Narrow moat 43/100
Evidence: High Range 14.75 TWD – 21.92 TWD Share as image

Fair value as of: Jul 23, 2026

From 23 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 18.28 TWD to 17.21 TWD (−5.9%) since Jul 12, 2026. Share price +8.5% over the past month.

A solid business, but screening 70% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (21.92 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

73.00 TWD 21.05 TWD Fair Value 17.21 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 21.05 TWD – 73.00 TWD · fair‑value band 14.75 TWD – 21.92 TWD · the 57.30 TWD price screens above the 17.21 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Aplex Technology Inc (6570) currently trades at 57.30 TWD, while our model-based Fair Value estimate is 17.21 TWD, implying the stock looks roughly 70.0% overvalued today. The Quality Score stands at 52/100 (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, Aplex Technology Inc generated revenue of 952M TWD at a net margin of 6.4%. Revenue grew 17.6% year over year. It earns a return on equity of 7.7%. Net debt stands at 220M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 14.75 TWD (bear case) to 21.92 TWD (bull case); at 57.30 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 11% below its 52-week high and 56% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -70%, 6570 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 0.2500 TWD 80
Residual Income 16.19 TWD 16.26 TWD 15.17 TWD 76
Rev-Margin DCF 4.68 TWD 11.06 TWD 17.82 TWD 74
All 23 models by family
DCF Models
FCF DCF 0.4600 TWD 38
Owner Earnings 6.21 TWD 10.03 TWD 14.77 TWD 31
5Y Revenue Exit 4.68 TWD 11.14 TWD 19.23 TWD 39
5Y EBITDA Exit 9.56 TWD 19.83 TWD 31.44 TWD 41
5Y P/E Exit 6.43 TWD 14.25 TWD 22.11 TWD 38
10Y Revenue Exit 1.53 TWD 6.41 TWD 12.65 TWD 36
10Y EBITDA Exit 4.68 TWD 11.78 TWD 20.79 TWD 37
10Y P/E Exit 2.88 TWD 8.33 TWD 14.57 TWD 35
Earnings-Based
Graham-Dodd 8.77 TWD 20.90 TWD 26.95 TWD 54
PEG = 1.0 3.65 TWD 5.21 TWD 6.77 TWD 46
EPV 5.45 TWD 6.83 TWD 7.97 TWD 59
Multiples
P/E Multiple 19.34 TWD 25.79 TWD 32.24 TWD 63
P/S Multiple 16.44 TWD 21.92 TWD 27.40 TWD 58
P/B Multiple 16.44 TWD 21.92 TWD 27.40 TWD 55
EV/EBIT 17.42 TWD 24.77 TWD 32.12 TWD 53
EV/EBITDA 20.85 TWD 29.34 TWD 37.84 TWD 54
EV/Revenue 10.23 TWD 16.60 TWD 22.97 TWD 43
Asset-Based
NCAV (Graham) 10.96 TWD 14.69 TWD 21.92 TWD 50
Growth DCF
Growth DCF 0.2500 TWD 80
Rev-Margin DCF 4.68 TWD 11.06 TWD 17.82 TWD 74
Economic Profit
Residual Income 16.19 TWD 16.26 TWD 15.17 TWD 76
ROIC Compounder 5.45 TWD 6.83 TWD 7.97 TWD 72
Growth Earnings
Growth-Adj P/E 14.75 TWD 21.07 TWD 27.40 TWD 68

Widest divergence: Multiples (21.92 TWD) versus Earnings-Based (6.83 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 952M TWD
Revenue growth (YoY) +17.6%
Net margin 6.4%
Return on equity 7.7%
Free cash flow 11.9M TWD FY2025
P/E ratio 44.8
More key figures
Operating margin 11.5%
EPS (TTM) 1.28 TWD
Dividend yield 1.9%
EPS growth (YoY) +161%
Net debt 220M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 50 · Market factors (momentum, volatility) 81

Profitability 36
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 87
Price trend over the last 3–12 months (market factor)
52W Momentum 82
Distance to the 52-week high (market factor)
Net Issuance 60
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

Aplex Technology Inc. develops, manufactures, and sells industrial PC products worldwide. The company provides stainless steel panel, industrial panel, embedded box, in-vehicle panel, and ATEx panel PC products.

Full company description

Aplex Technology Inc. develops, manufactures, and sells industrial PC products worldwide. The company provides stainless steel panel, industrial panel, embedded box, in-vehicle panel, and ATEx panel PC products. It also offers human-machine interfaces, ATEx displays, ATEx box PC products, industrial displays and boards, machine vision systems, industrial AIOT solutions, industrial rugged tablets, and medical and marine solutions, as well as accessories, including storage products, power adapters, product stands, and Wi-Fi bluetooth products. The company's products have applications in the smart factory, surveillance, control and communication, machine vision, food and beverage automation, kiosk and ticketing, ATEX oil and gas, smart warehousing and transportation, and healthcare sectors. In addition, it offers OEM/ODM solutions, such as marking and coding machines, KVM displayers for military training, and indoor/outdoor security gate HMI solutions; and APLEX IOT solutions. Aplex Technology Inc. was founded in 2004 and is headquartered in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Aplex Technology Inc reported revenue of 916M TWD in FY2025 versus 874M TWD in FY2021, a compound +1.2%/yr. Reported net income was 47.9M TWD in FY2025, compounding −18.4%/yr from FY2021.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
916M TWD
Latest YoY
+3.0%
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.
−7.0%
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.
+8.5%
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.
+6.2%
Revenue +1.2%/yr
FY21 874M TWD
FY22 1.1B TWD
FY23 944M TWD
FY24 889M TWD
FY25 916M TWD
Net income −18.4%/yr
FY21 108M TWD
FY22 172M TWD
FY23 108M TWD
FY24 59.0M TWD
FY25 47.9M TWD

6570 screens 70% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Aplex Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/6570

Peer Group

Computer Hardware · 215 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 52 · Below median
Fair Value upside −70% · Bottom 25%
Return on equity (TTM) 8% · Above median
Return on assets 3% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 12% · Top 25%
Revenue growth 18% · Above median
Dividend yield (TTM) 2.1% · Below median
Debt / equity 0.41× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 40.3× · Pricier than median
P/B 2.35× · Pricier than median
P/S (TTM) 2.01× · Pricier than median
P/FCF 5.0× · Pricier than median
EV/EBITDA 20.8× · Pricier 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 0 · sector 0
FUTURE 88 · sector 57
PAST 31 · sector 26
HEALTH 79 · sector 97
DIVIDEND 42 · sector 44

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is Aplex Technology Inc (6570) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 17.21 TWD versus a price of 57.30 TWD, about −70% (overvalued).
What is the fair value of 6570?
Our model-based fair value for Aplex Technology Inc is 17.21 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 57.30 TWD.
What is the quality score of 6570?
Aplex Technology Inc has a Quality Score of 52/100. 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 Aplex Technology Inc (6570)?
Aplex Technology Inc reported trailing-twelve-month revenue of about 952M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6570?
The net profit margin of Aplex Technology Inc is about 6.4%, meaning it keeps roughly 6.4% of revenue as net income. Based on the latest reported figures.
Does Aplex Technology Inc pay a dividend?
Aplex Technology Inc currently shows a dividend yield of about 1.94% relative to its recent price (as of Jul 23, 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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