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Tan De Tech Co (6867) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 642M TWD

TD Tan De Tech Co 6867 · TWO
Price24.30 TWD
Fair Value43.12 TWD
Upside+77.5%
Quality70/100
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Mixed Growth
Thin margins · 0.0% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/11)
Narrow moat 41/100
Evidence: High Range 34.00 TWD – 52.23 TWD Share as image

Fair value as of: Jul 23, 2026

From 16 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 30.18 TWD to 43.12 TWD (+42.9%) since Jul 12, 2026. Share price −19.0% over the past month.

A solid business, screening 77% undervalued on our models.

What matters now

  • The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (34.00 TWD). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (4 years)

52.85 TWD 21.74 TWD Fair Value 43.12 TWD Jun 2022 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

50‑month range 21.74 TWD – 52.85 TWD · fair‑value band 34.00 TWD – 52.23 TWD · the 24.30 TWD price screens below the 43.12 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Tan De Tech Co (6867) currently trades at 24.30 TWD, while our model-based Fair Value estimate is 43.12 TWD, implying the stock looks roughly 77.5% undervalued today. The Quality Score stands at 70/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

The balance sheet holds a net cash position of 163M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 34.00 TWD (bear case) to 52.23 TWD (bull case); at 24.30 TWD, the current price sits below 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 20% below its 52-week high and 25% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 77%, 6867 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 43.71 TWD 53.28 TWD 67.83 TWD 80
Rev-Margin DCF 31.91 TWD 40.58 TWD 51.45 TWD 74
ROIC Compounder 20.75 TWD 22.97 TWD 25.10 TWD 72
All 16 models by family
DCF Models
FCF DCF 42.81 TWD 52.90 TWD 69.45 TWD 38
Owner Earnings 17.45 TWD 20.45 TWD 25.37 TWD 31
5Y Revenue Exit 31.91 TWD 39.78 TWD 50.83 TWD 39
5Y EBITDA Exit 44.83 TWD 61.86 TWD 83.70 TWD 41
10Y Revenue Exit 35.96 TWD 43.16 TWD 51.05 TWD 36
10Y EBITDA Exit 43.65 TWD 56.51 TWD 71.07 TWD 37
Earnings-Based
EPV 20.52 TWD 22.40 TWD 23.97 TWD 59
Dividend Discount
Gordon GGM 39.79 TWD 49.34 TWD 58.30 TWD 70
DDM Multi-Stage 39.79 TWD 51.27 TWD 63.53 TWD 61
Multiples
EV/EBIT 34.06 TWD 43.17 TWD 52.29 TWD 53
EV/EBITDA 52.56 TWD 67.85 TWD 83.13 TWD 54
EV/Revenue 25.15 TWD 33.04 TWD 40.94 TWD 43
Asset-Based
NCAV (Graham) 7.18 TWD 9.62 TWD 14.36 TWD 50
Growth DCF
Growth DCF 43.71 TWD 53.28 TWD 67.83 TWD 80
Rev-Margin DCF 31.91 TWD 40.58 TWD 51.45 TWD 74
Economic Profit
ROIC Compounder 20.75 TWD 22.97 TWD 25.10 TWD 72

Widest divergence: Dividend Discount (49.34 TWD) versus Asset-Based (9.62 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Free cash flow 104M TWD FY2025
EPS (TTM) -1.11 TWD
Net cash 163M TWD FY2024

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

Quality Score breakdown

Overall quality 70/100

Of which business quality 71 · Market factors (momentum, volatility) 22

Profitability 24
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 95
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 31
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 66
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

Tan De Tech Co., Ltd develops and sells automotive LED headlights for various car manufacturers. It also offers taillights, direction lights, fog lights, daytime running lights, and other vehicle exterior lighting fixtures. The company was founded in 2013 and is based in Douliu, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tan De Tech Co reported revenue of 426M TWD in FY2025 versus 333M TWD in FY2021, a compound +6.3%/yr. Reported net income was −27.4M TWD in FY2025.

Growth Quality 43/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
426M TWD
Latest YoY
−2.0%
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.
−2.9%
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.
+6.3%
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.
+5.0%
Revenue +6.3%/yr
FY21 333M TWD
FY22 466M TWD
FY23 542M TWD
FY24 435M TWD
FY25 426M TWD
Net income
FY21 13.9M TWD
FY22 47.8M TWD
FY23 51.7M TWD
FY24 28.3M TWD
FY25 −27.4M TWD

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Cite: Fair Value Calculator (2026). "Tan De Tech Co Fair Value". https://www.fairvalue-calculator.com/stock/6867

Peer Group

Auto Parts · 642 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 70 · Top 25%
Fair Value upside +77% · Top 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 0% · Bottom 25%
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Auto Parts median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper 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 100 · sector 16
FUTURE 0 · sector 23
PAST 0 · sector 26
HEALTH 100 · sector 95
DIVIDEND 0 · sector 30

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

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Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
Sona BLW Precision Forgings Limited SONACOMS ₹792.00 ₹207.06 -74%

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Frequently asked questions

Is Tan De Tech Co (6867) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 43.12 TWD versus a price of 24.30 TWD, about +77% (undervalued).
What is the fair value of 6867?
Our model-based fair value for Tan De Tech Co is 43.12 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 24.30 TWD.
What is the quality score of 6867?
Tan De Tech Co has a Quality Score of 70/100. 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 net profit margin of 6867?
The net profit margin of Tan De Tech Co is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

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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