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Cystech Electronics Corp (6651) Fair Value & Analysis

Technology · TW · Market cap 4.1B TWD

CE Cystech Electronics Corp 6651 · TWO
Price135.00 TWD
Fair Value112.82 TWD
Upside-16.4%
Quality80/100
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Healthy Growth
Solidly profitable · 15.5% net margin
Low debt · generates free cash flow
3.46% dividend yield
Ranks above peers (11/14)
Wide moat 72/100
Evidence: High Range 83.57 TWD – 142.08 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price −11.8% over the past month.

A strong business, but screening 16% overvalued on our models.

What matters now

  • A high-quality business (quality 80/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • Our model range runs from 83.57 TWD (bear) to 142.08 TWD (bull), base 112.82 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 80/100 (high quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

169.00 TWD 50.90 TWD Fair Value 112.82 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 50.90 TWD – 169.00 TWD · fair‑value band 83.57 TWD – 142.08 TWD · the 135.00 TWD price screens above the 112.82 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

Cystech Electronics Corp (6651) currently trades at 135.00 TWD, while our model-based Fair Value estimate is 112.82 TWD, implying the stock looks roughly 16.4% overvalued today. The Quality Score stands at 80/100 (high 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, Cystech Electronics Corp generated revenue of 1.5B TWD at a net margin of 15.5%. Revenue grew 2.4% year over year. It earns a return on equity of 20.0%. Net debt stands at 145M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 83.57 TWD (bear case) to 142.08 TWD (bull case); at 135.00 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 17% below its 52-week high and 100% 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 -16%, 6651 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
Growth DCF 104.50 TWD 140.89 TWD 189.44 TWD 80
Residual Income 39.96 TWD 52.48 TWD 156.16 TWD 76
Rev-Margin DCF 92.08 TWD 132.53 TWD 177.35 TWD 74
All 24 models by family
DCF Models
FCF DCF 102.67 TWD 142.93 TWD 199.53 TWD 38
Owner Earnings 84.24 TWD 116.04 TWD 160.74 TWD 31
5Y Revenue Exit 92.08 TWD 131.71 TWD 180.85 TWD 39
5Y EBITDA Exit 96.10 TWD 139.01 TWD 187.38 TWD 41
5Y P/E Exit 99.95 TWD 145.99 TWD 192.62 TWD 38
10Y Revenue Exit 93.18 TWD 129.18 TWD 174.69 TWD 36
10Y EBITDA Exit 97.77 TWD 134.06 TWD 179.43 TWD 37
10Y P/E Exit 100.14 TWD 138.72 TWD 183.23 TWD 35
Earnings-Based
Graham-Dodd 42.93 TWD 114.33 TWD 149.49 TWD 54
Lynch FV 22.14 TWD 31.63 TWD 41.12 TWD 50
PEG = 1.0 22.14 TWD 31.63 TWD 41.12 TWD 46
EPV 77.24 TWD 87.07 TWD 95.55 TWD 59
Multiples
P/E Multiple 94.70 TWD 126.27 TWD 157.83 TWD 63
P/S Multiple 80.50 TWD 107.33 TWD 134.16 TWD 58
P/B Multiple 80.50 TWD 107.33 TWD 134.16 TWD 55
EV/EBIT 126.46 TWD 163.62 TWD 200.78 TWD 53
EV/EBITDA 102.75 TWD 132.00 TWD 161.26 TWD 54
EV/Revenue 90.13 TWD 122.33 TWD 154.53 TWD 43
Asset-Based
NCAV (Graham) 18.41 TWD 24.67 TWD 36.83 TWD 50
Growth DCF
Growth DCF 104.50 TWD 140.89 TWD 189.44 TWD 80
Rev-Margin DCF 92.08 TWD 132.53 TWD 177.35 TWD 74
Economic Profit
Residual Income 39.96 TWD 52.48 TWD 156.16 TWD 76
ROIC Compounder 80.16 TWD 94.15 TWD 108.84 TWD 72
Growth Earnings
Growth-Adj P/E 74.71 TWD 106.73 TWD 138.75 TWD 68

Widest divergence: DCF Models (134.06 TWD) versus Asset-Based (24.67 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.5B TWD
Revenue growth (YoY) +2.4%
Net margin 15.5%
Return on equity 20.0%
Free cash flow 292M TWD FY2025
P/E ratio 18.8
More key figures
Operating margin 23.6%
EPS (TTM) 6.29 TWD
Dividend yield 3.5%
EPS growth (YoY) +23.0%
Net debt 145M TWD FY2023

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

Quality Score breakdown

Overall quality 80/100

Of which business quality 78 · Market factors (momentum, volatility) 69

Profitability 68
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 26
Calm price path (market factor)
Momentum 92
Price trend over the last 3–12 months (market factor)
52W Momentum 81
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

Cystech Electronics Corp. designs, develops, manufactures, and supplies power devices for the computing, consumer electronics, communication, and industrial markets worldwide.

Full company description

Cystech Electronics Corp. designs, develops, manufactures, and supplies power devices for the computing, consumer electronics, communication, and industrial markets worldwide. The company provides MOSFET products; bipolar and digital transistors; DC to DC integrated circuits (IC); dual operational amplifier and voltage references, and regulators; transistor- AECQ.; and silicon carbide schottky diodes. It provides switching control, fast, zener, switching, and schottky diodes; general purpose, glass passivated, and snubber damping rectifiers; and TVS products. Cystech Electronics Corp. 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

Cystech Electronics Corp reported revenue of 1.5B TWD in FY2025 versus 1.6B TWD in FY2021, a compound −2.0%/yr. Reported net income was 218M TWD in FY2025, compounding −3.6%/yr from FY2021.

Growth Quality 78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.5B TWD
Latest YoY
+3.9%
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.
−4.0%
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.
+4.7%
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.
+8.9%
Revenue −2.0%/yr
FY21 1.6B TWD
FY22 1.7B TWD
FY23 1.3B TWD
FY24 1.4B TWD
FY25 1.5B TWD
Net income −3.6%/yr
FY21 253M TWD
FY22 305M TWD
FY23 188M TWD
FY24 283M TWD
FY25 218M TWD

6651 screens 16% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Cystech Electronics Corp Fair Value". https://www.fairvalue-calculator.com/stock/6651

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 80 · Top 25%
Fair Value upside −16% · Above median
Return on equity (TTM) 20% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth 2% · Below median
Dividend yield (TTM) 3.5% · Top 25%

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 18.8× · Cheaper than 75% of peers
P/B 3.22× · Pricier than median
P/S (TTM) 2.71× · Pricier than median
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 11.4× · 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 11 · sector 0
FUTURE 12 · sector 32
PAST 80 · sector 24
HEALTH 100 · sector 95
DIVIDEND 69 · sector 25

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 Cystech Electronics Corp (6651) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 112.82 TWD versus a price of 135.00 TWD, about −16% (overvalued).
What is the fair value of 6651?
Our model-based fair value for Cystech Electronics Corp is 112.82 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 135.00 TWD.
What is the quality score of 6651?
Cystech Electronics Corp has a Quality Score of 80/100. 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 Cystech Electronics Corp (6651)?
Cystech Electronics Corp reported trailing-twelve-month revenue of about 1.5B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6651?
The net profit margin of Cystech Electronics Corp is about 15.5%, meaning it keeps roughly 15.5% of revenue as net income. Based on the latest reported figures.
Does Cystech Electronics Corp pay a dividend?
Cystech Electronics Corp currently shows a dividend yield of about 3.17% 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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