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Ecocera Optronics Co (6597) Fair Value & Analysis

Technology · TW · Market cap 1.8B TWD

EO Ecocera Optronics Co 6597 · TWO
Price67.80 TWD
Fair Value47.80 TWD
Upside-29.5%
Quality28/100
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Expensive Growth
Thin margins · 3.6% net margin
Low debt · negative free cash flow
1.64% dividend yield
Mixed vs. peers (7/13)
Narrow moat 29/100
Evidence: Medium Range 33.46 TWD – 62.14 TWD Share as image

Fair value as of: Jul 21, 2026

From 14 valuation models · updated 20 days ago

Below-average quality, and screening another 30% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (62.14 TWD). The favourable scenario is already priced in.
  • Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (33.46 TWD to 62.14 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

145.49 TWD 16.33 TWD Fair Value 47.80 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 16.33 TWD – 145.49 TWD · fair‑value band 33.46 TWD – 62.14 TWD · the 67.80 TWD price screens above the 47.80 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Ecocera Optronics Co (6597) currently trades at 67.80 TWD, while our model-based Fair Value estimate is 47.80 TWD, implying the stock looks roughly 29.5% overvalued today. The Quality Score stands at 28/100 (below-average 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: medium).

Over the trailing twelve months, Ecocera Optronics Co generated revenue of 718M TWD at a net margin of 3.6%. Revenue declined 23.0% year over year. It earns a return on equity of 4.1%. Net debt stands at 117M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 33.46 TWD (bear case) to 62.14 TWD (bull case); at 67.80 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 22% below its 52-week high and 35% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -30%, 6597 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 22.25 TWD 23.62 TWD 25.78 TWD 76
ROIC Compounder 24.35 TWD 27.08 TWD 31.33 TWD 72
Growth-Adj P/E 39.36 TWD 56.23 TWD 73.10 TWD 68
All 14 models by family
Earnings-Based
Graham-Dodd 16.61 TWD 80.11 TWD 110.31 TWD 54
Lynch FV 21.41 TWD 30.58 TWD 39.76 TWD 50
PEG = 1.0 21.41 TWD 30.58 TWD 39.76 TWD 46
EPV 24.35 TWD 27.08 TWD 29.36 TWD 59
Multiples
P/E Multiple 51.30 TWD 68.40 TWD 85.50 TWD 63
P/S Multiple 31.14 TWD 41.53 TWD 51.91 TWD 58
P/B Multiple 31.14 TWD 41.53 TWD 51.91 TWD 55
EV/EBIT 71.04 TWD 93.28 TWD 115.52 TWD 53
EV/EBITDA 87.83 TWD 115.67 TWD 143.50 TWD 54
EV/Revenue 38.05 TWD 52.51 TWD 66.96 TWD 43
Asset-Based
NCAV (Graham) 13.91 TWD 18.64 TWD 27.83 TWD 50
Economic Profit
Residual Income 22.25 TWD 23.62 TWD 25.78 TWD 76
ROIC Compounder 24.35 TWD 27.08 TWD 31.33 TWD 72
Growth Earnings
Growth-Adj P/E 39.36 TWD 56.23 TWD 73.10 TWD 68

Widest divergence: Growth Earnings (56.23 TWD) versus Asset-Based (18.64 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 718M TWD
Revenue growth (YoY) -23.0%
Net margin 3.6%
Return on equity 4.1%
Free cash flow −306M TWD FY2025
P/E ratio 25.2
More key figures
Operating margin -0.6%
EPS (TTM) 2.50 TWD
Dividend yield 1.6%
EPS growth (YoY) -16.3%
Net debt 117M TWD FY2025

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

Quality Score breakdown

Overall quality 28/100

Of which business quality 34 · Market factors (momentum, volatility) 48

Profitability 40
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 3
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 23
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

Ecocera Optronics Co., Ltd. manufactures and sells ceramics circuit boards in Taiwan. The company engages in the supply in manufacturing direct copper ceramic circuit board, such as LEDs Al2O3/AlN fine ceramic substrates, flesh light module DPC, IR/UV, lighting, laser, and asutomotive used DPC substrate and sub-mount; submount for laser diode; 3D sensor …

Full company description

Ecocera Optronics Co., Ltd. manufactures and sells ceramics circuit boards in Taiwan. The company engages in the supply in manufacturing direct copper ceramic circuit board, such as LEDs Al2O3/AlN fine ceramic substrates, flesh light module DPC, IR/UV, lighting, laser, and asutomotive used DPC substrate and sub-mount; submount for laser diode; 3D sensor substrate; PMIC DPC; RF DPC; and thermoelectric DPC products. It offers direct plating and bond copper products. Its products are used in LED lighting, automotive lighting, mobile phone LED flash, UV, display, and other applications. The company was founded in 2011 and is based in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ecocera Optronics Co reported revenue of 765M TWD in FY2025 versus 518M TWD in FY2021, a compound +10.2%/yr. Reported net income was 71.3M TWD in FY2025, compounding +14.0%/yr from FY2021.

Growth Quality 42/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
765M TWD
Latest YoY
−11.8%
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.
+17.4%
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.
+12.1%
Avg. growth/yr (12Y) 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.
+27.0%
Revenue +10.2%/yr
FY21 518M TWD
FY22 473M TWD
FY23 604M TWD
FY24 867M TWD
FY25 765M TWD
Net income +14.0%/yr
FY21 42.3M TWD
FY22 30.1M TWD
FY23 64.5M TWD
FY24 122M TWD
FY25 71.3M TWD

6597 screens 30% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Ecocera Optronics Co Fair Value". https://www.fairvalue-calculator.com/stock/6597

Peer Group

Electronic Components · 625 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 28 · Bottom 25%
Fair Value upside −30% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 3% · Above median
Net margin (TTM) 4% · Below median
Operating margin (TTM) -1% · Bottom 25%
Revenue growth -23% · Bottom 25%
Dividend yield (TTM) 1.6% · Above median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 25.2× · Cheaper than median
P/B 2.26× · Cheaper than median
P/S (TTM) 2.56× · Pricier than median
EV/EBITDA 13.0× · 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 0 · sector 0
FUTURE 0 · sector 32
PAST 16 · sector 24
HEALTH 100 · sector 95
DIVIDEND 33 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Ecocera Optronics Co (6597) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 47.80 TWD versus a price of 67.80 TWD, about −30% (overvalued).
What is the fair value of 6597?
Our model-based fair value for Ecocera Optronics Co is 47.80 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 67.80 TWD.
What is the quality score of 6597?
Ecocera Optronics Co has a Quality Score of 28/100. 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 Ecocera Optronics Co (6597)?
Ecocera Optronics Co reported trailing-twelve-month revenue of about 718M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6597?
The net profit margin of Ecocera Optronics Co is about 3.6%, meaning it keeps roughly 3.6% of revenue as net income. Based on the latest reported figures.
Does Ecocera Optronics Co pay a dividend?
Ecocera Optronics Co currently shows a dividend yield of about 1.47% 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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