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Grandsys Inc (6910) Fair Value & Analysis

Technology · TW · Market cap 769M TWD

GI Grandsys Inc 6910 · TWO
Price25.00 TWD
Fair Value35.26 TWD
Upside+41.0%
Quality58/100
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Healthy Growth
Thin margins · 0.0% net margin
generates free cash flow
Mixed vs. peers (5/11)
Moderate moat 60/100
Evidence: High Range 25.66 TWD – 47.46 TWD Share as image

Fair value as of: Jul 22, 2026

From 23 valuation models · updated 19 days ago

Share price −8.8% over the past month.

A solid business, screening 41% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (25.66 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (25.66 TWD to 47.46 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

61.11 TWD 23.31 TWD Fair Value 35.26 TWD May 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

39‑month range 23.31 TWD – 61.11 TWD · fair‑value band 25.66 TWD – 47.46 TWD · the 25.00 TWD price screens below the 35.26 TWD fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Grandsys Inc (6910) currently trades at 25.00 TWD, while our model-based Fair Value estimate is 35.26 TWD, implying the stock looks roughly 41.0% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Technology 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. The stock trades on a trailing P/E of 14.4. Fundamentals as of Jul 22, 2026

Our scenario range runs from 25.66 TWD (bear case) to 47.46 TWD (bull case); at 25.00 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 58% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 41%, 6910 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 13.34 TWD 14.84 TWD 21.57 TWD 76
Growth DCF 25.62 TWD 31.05 TWD 37.62 TWD 72
Growth-Adj P/E 28.52 TWD 40.75 TWD 52.97 TWD 68
All 23 models by family
DCF Models
FCF DCF 25.40 TWD 31.49 TWD 39.22 TWD 38
Owner Earnings 28.22 TWD 35.38 TWD 44.48 TWD 31
5Y Revenue Exit 27.22 TWD 36.92 TWD 48.99 TWD 39
5Y EBITDA Exit 34.01 TWD 49.20 TWD 66.46 TWD 41
5Y P/E Exit 35.27 TWD 51.48 TWD 67.96 TWD 38
10Y Revenue Exit 25.78 TWD 33.82 TWD 44.02 TWD 36
10Y EBITDA Exit 30.19 TWD 41.48 TWD 55.83 TWD 37
10Y P/E Exit 30.91 TWD 42.90 TWD 56.84 TWD 35
Earnings-Based
Graham-Dodd 12.07 TWD 31.59 TWD 41.22 TWD 54
PEG = 1.0 6.03 TWD 8.61 TWD 11.19 TWD 46
EPV 25.48 TWD 27.67 TWD 29.49 TWD 59
Multiples
P/E Multiple 37.28 TWD 49.70 TWD 62.13 TWD 63
P/S Multiple 22.63 TWD 30.18 TWD 37.72 TWD 58
P/B Multiple 22.63 TWD 30.18 TWD 37.72 TWD 55
EV/EBIT 49.52 TWD 62.87 TWD 76.23 TWD 53
EV/EBITDA 44.30 TWD 55.92 TWD 67.53 TWD 54
EV/Revenue 29.71 TWD 38.39 TWD 47.07 TWD 43
Asset-Based
NCAV (Graham) 7.78 TWD 10.43 TWD 15.56 TWD 50
Growth DCF
Growth DCF 25.62 TWD 31.05 TWD 37.62 TWD 72
Rev-Margin DCF 27.22 TWD 37.04 TWD 47.82 TWD 67
Economic Profit
Residual Income 13.34 TWD 14.84 TWD 21.57 TWD 76
ROIC Compounder 26.13 TWD 29.17 TWD 32.23 TWD 67
Growth Earnings
Growth-Adj P/E 28.52 TWD 40.75 TWD 52.97 TWD 68

Widest divergence: Growth Earnings (40.75 TWD) versus Asset-Based (10.43 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Free cash flow 53.9M TWD FY2025
P/E ratio 14.4
EPS (TTM) 1.98 TWD
Net cash 163M TWD FY2024

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 61 · Market factors (momentum, volatility) 15

Profitability 56
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 23
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 20
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

Grandsys Inc. engages in the research, design, development, construction, sales, and maintenance services of customer service center-related application software in China.

Full company description

Grandsys Inc. engages in the research, design, development, construction, sales, and maintenance services of customer service center-related application software in China. The company offers voice and text robot, intelligent assistant, insight, omni media customer platform, enterprise application middle platform, smart video application, cloud customer service application, financial industry cloud application, scheduling and recording systems, phone and computer headset, and other accessories. It also provides consulting, intelligent quality inspection consulting, system plan and integration, cloud application plan and integration, system maintenance, and technical support services. Grandsys Inc. was founded in 1992 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Grandsys Inc reported revenue of 385M TWD in FY2025 versus 296M TWD in FY2021, a compound +6.7%/yr. Reported net income was 54.2M TWD in FY2025, compounding +13.5%/yr from FY2021.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
385M TWD
Latest YoY
+30.1%
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.
+4.7%
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.
+5.1%
Avg. growth/yr (6Y) 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%
Revenue +6.7%/yr
FY21 296M TWD
FY22 335M TWD
FY23 311M TWD
FY24 296M TWD
FY25 385M TWD
Net income +13.5%/yr
FY21 32.6M TWD
FY22 51.1M TWD
FY23 42.4M TWD
FY24 30.0M TWD
FY25 54.2M TWD

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Cite: Fair Value Calculator (2026). "Grandsys Inc Fair Value". https://www.fairvalue-calculator.com/stock/6910

Peer Group

Software - Application · 709 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 58 · Above median
Fair Value upside +41% · Top 25%
Return on assets 0% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Below median
Revenue growth 0% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 12.7× · Cheaper than 75% of peers
P/B 0.05× · Cheaper than 75% of peers
P/FCF 0.4× · 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 88 · sector 0
FUTURE 0 · sector 38
PAST 0 · sector 13
HEALTH 0 · sector 98
DIVIDEND 0 · sector 28

Insider activity: 42/100

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Grandsys Inc (6910) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 35.26 TWD versus a price of 25.00 TWD, about +41% (undervalued).
What is the fair value of 6910?
Our model-based fair value for Grandsys Inc is 35.26 TWD (as of Jul 22, 2026), built from audited fundamentals. The current price is 25.00 TWD.
What is the quality score of 6910?
Grandsys Inc has a Quality Score of 58/100. 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 6910?
The net profit margin of Grandsys Inc 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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