Kingray Technology Co., Ltd. (6787) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Kingray Technology Co., Ltd. stock TWD 2.29, price TWD 21.50, upside -89.4%, quality 36 out of 100. Rating: strongly overvalued. 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. As of Oct 28, 2026.
How to read this chart
11‑month range 21.00 TWD – 49.65 TWD · fair‑value band 1.51 TWD – 2.86 TWD · the 21.50 TWD price screens above the 2.29 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 28, 2026.
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Kingray Technology Co., Ltd. engages in the semiconductor wafer, diode, and LED epitaxil wafer business in Taiwan.
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It offers narrow band pass filters and infrared band; new blue glasses; optical and IR cut, UVIR, high reflective, anti-reflective, dichroic color, and IR pass filters; beam splitters; rectangle OEM and octagon dicing; circular OEM drills; TOF products; DMS, ADAS, and ALS products for high-transmittance multi-wavelength application; and photolithography foundry services.
Kingray Technology Co., Ltd. was founded in 1999 and is headquartered in Hsinchu City, Taiwan.
Stock analysis
Kingray Technology Co., Ltd. (6787) currently trades at 21.50 TWD, while our model-based Fair Value estimate is 2.29 TWD, 89.4% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 87/100, which puts the data coverage at low.
Scenario range: 1.51 TWD (bear) to 2.86 TWD (bull), the price of 21.50 TWD sits above 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 36/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kingray Technology Co., Ltd. reported revenue of 157M TWD in FY2025 versus 19.6M TWD in FY2021, a compound +68.3%/yr. Reported net income was −213M TWD in FY2025.
Key figures
Market cap 1.9B TWD (≈ $57.9M) Micro · P/S ratio 9.38 · EPS (TTM) −2.71 TWD · Net margin −110% · Return on equity −37.2% · Return on assets (EBIT) −23.3% · Operating margin −83.9% · Revenue (TTM) 201M TWD.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).
What moves the price
The share trades about 57% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at −89%, 6787 screens richer than that median.
Fair Value models
Bear1.51 TWDFair Value 2.29 TWDBull2.86 TWD
Price 21.50 TWD · Upside -89.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
NCAV (Graham)1.77 TWD2.69 TWD3.36 TWD54
All 1 models by family
Asset-Based
NCAV (Graham)1.77 TWD2.69 TWD3.36 TWD54
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+42.4%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+50.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+51.9%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+63.5%
’19
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Profit margin (trend) ⓘ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.
−435.4% (2020) → −126.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare Kingray Technology Co., Ltd. with another stock
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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.Semiconductor Equipment & Materials · 226 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Kingray Technology Co., Ltd. (6787) overvalued or undervalued?
As of Oct 28, 2026, our model estimates a fair value of 2.29 TWD versus a price of 21.50 TWD, about −89% upside (overvalued).
What is the fair value of 6787?
Our model-based fair value for Kingray Technology Co., Ltd. is 2.29 TWD (as of Oct 28, 2026), built from audited fundamentals. The current price: 21.50 TWD.
What is the quality score of 6787?
Kingray Technology Co., Ltd. has a Quality Score of 36/100. 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 Kingray Technology Co., Ltd. (6787)?
Our model-based price target is the fair value of 2.29 TWD (as of Oct 28, 2026) from 1 valuation models. Cautious scenario 1.51 TWD, optimistic scenario 2.86 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Kingray Technology Co., Ltd. stock forecast for 2026?
Our models put fair value at 2.29 TWD, about −89% upside versus a price of 21.50 TWD (overvalued). Cautious scenario 1.51 TWD, optimistic scenario 2.86 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Kingray Technology Co., Ltd. (6787)?
Kingray Technology Co., Ltd. reported trailing-twelve-month revenue of about 201M TWD (latest available figure, as of Oct 28, 2026).
What is the intrinsic value of Kingray Technology Co., Ltd. (6787)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kingray Technology Co., Ltd. it is 2.29 TWD per share (as of Oct 28, 2026), against a price of 21.50 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Kingray Technology Co., Ltd. stock overvalued or undervalued in 2026?
As of Oct 28, 2026, 6787 trades above its calculated fair value: price 21.50 TWD, fair value 2.29 TWD, a gap of about −89% (overvalued). 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 6787?
No. The price is what the market pays today (21.50 TWD); the fair value is what the company's own numbers justify (2.29 TWD). For Kingray Technology Co., Ltd. the two are 19.21 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Kingray Technology Co., Ltd. worth?
The market values Kingray Technology Co., Ltd. at about 1.9B TWD (market capitalisation, as of Oct 28, 2026). Per share that is 21.50 TWD; our models calculate a fair value of 2.29 TWD per share.
What do the bullish and bearish scenarios say about 6787?
Our models span a range for Kingray Technology Co., Ltd.: cautious scenario 1.51 TWD, base 2.29 TWD, optimistic 2.86 TWD per share (as of Oct 28, 2026, price 21.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kingray Technology Co., Ltd. (6787)?
Balance-sheet figures for Kingray Technology Co., Ltd. (as of Oct 28, 2026): return on equity −37.2%. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is 6787 from its 52-week high?
Kingray Technology Co., Ltd. trades at 21.50 TWD, about 57% below its 52-week high of 49.65 TWD and 2% above the low of 21.00 TWD (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 2.29 TWD is for.
Which stocks are comparable to Kingray Technology Co., Ltd.?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 Kingray Technology Co., Ltd. stock attractive at the current price?
The data as of Oct 28, 2026: price 21.50 TWD, calculated fair value 2.29 TWD (−89%), Quality Score 36/100, from 1 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 6787 calculated?
We run Kingray Technology Co., Ltd. through 1 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 2.29 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 13.4 % above its aggregate fair value. Kingray Technology Co., Ltd. itself currently trades above fair value. 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 Kingray Technology Co., Ltd. (6787)?
The closing price on Oct 28, 2026 was 21.50 TWD. Our model-based fair value is 2.29 TWD, about −89% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kingray Technology Co., Ltd. right now?
The price sits above even our optimistic bull case (2.86 TWD). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (1.51 TWD to 2.86 TWD) leaves room in how you read the outcome.
Key figures of Kingray Technology Co., Ltd.
How large is the market capitalisation of Kingray Technology Co., Ltd. (6787)?
The market capitalisation of Kingray Technology Co., Ltd. is 1.9B TWD (≈ $57.9M). 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 Kingray Technology Co., Ltd. (6787)?
The price-to-sales ratio of Kingray Technology Co., Ltd. is 9.38 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kingray Technology Co., Ltd. (6787)?
Earnings per share at Kingray Technology Co., Ltd. are −2.71 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kingray Technology Co., Ltd. (6787)?
The net margin of Kingray Technology Co., Ltd. is −110% (last twelve months). 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 Kingray Technology Co., Ltd. (6787)?
The return on equity (ROE) of Kingray Technology Co., Ltd. is −37.2% (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 Kingray Technology Co., Ltd. (6787)?
On an EBIT basis the return on assets of Kingray Technology Co., Ltd. is −23.3% (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 Kingray Technology Co., Ltd. (6787)?
The operating margin of Kingray Technology Co., Ltd. is −83.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kingray Technology Co., Ltd. (6787)?
Revenue at Kingray Technology Co., Ltd. is growing +63.3% versus a year earlier (3y avg +50.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Kingray Technology Co., Ltd. (6787) generate?
The free cash flow of Kingray Technology Co., Ltd. is −254M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Kingray Technology Co., Ltd. (6787) hold?
Kingray Technology Co., Ltd. holds more cash than debt, 338M TWD net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Thin data
Oct 28, 2026