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Neousys Technology Inc (6922) Fair Value & Analysis

Technology · TW · Market cap 5.3B TWD

NT Neousys Technology Inc 6922 · TWO
Price204.00 TWD
Fair Value172.71 TWD
Upside-15.3%
Quality46/100
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Expensive Growth
Solidly profitable · 11.1% net margin
Moderate debt · negative free cash flow
2.50% dividend yield
Mixed vs. peers (7/13)
Moderate moat 62/100
Evidence: High Range 120.90 TWD – 224.53 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 139.53 TWD to 172.71 TWD (+23.8%) since Jul 12, 2026. Share price +14.9% over the past month.

Below-average quality, and screening another 15% overvalued on our models.

What matters now

  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (120.90 TWD to 224.53 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

229.22 TWD 89.70 TWD Fair Value 172.71 TWD Feb 2023 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

41‑month range 89.70 TWD – 229.22 TWD · fair‑value band 120.90 TWD – 224.53 TWD · the 204.00 TWD price screens above the 172.71 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Neousys Technology Inc (6922) currently trades at 204.00 TWD, while our model-based Fair Value estimate is 172.71 TWD, implying the stock looks roughly 15.3% overvalued today. The Quality Score stands at 46/100 (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: high).

Over the trailing twelve months, Neousys Technology Inc generated revenue of 1.7B TWD at a net margin of 11.1%. Revenue grew 22.4% year over year. It earns a return on equity of 20.1%. Net debt stands at 258M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 120.90 TWD (bear case) to 224.53 TWD (bull case); at 204.00 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 14% below its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -15%, 6922 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 42.81 TWD 53.19 TWD 123.29 TWD 76
ROIC Compounder 69.21 TWD 98.63 TWD 137.35 TWD 72
Gordon GGM 39.94 TWD 79.58 TWD 120.50 TWD 70
All 16 models by family
Earnings-Based
Graham-Dodd 46.80 TWD 255.31 TWD 354.08 TWD 54
Lynch FV 70.91 TWD 101.31 TWD 131.70 TWD 50
PEG = 1.0 70.91 TWD 101.31 TWD 131.70 TWD 46
EPV 59.79 TWD 70.57 TWD 79.88 TWD 59
Dividend Discount
Gordon GGM 39.94 TWD 79.58 TWD 120.50 TWD 70
DDM Multi-Stage 39.94 TWD 68.77 TWD 84.00 TWD 61
Multiples
P/E Multiple 113.56 TWD 151.41 TWD 189.26 TWD 63
P/S Multiple 87.75 TWD 117.00 TWD 146.25 TWD 58
P/B Multiple 87.75 TWD 117.00 TWD 146.25 TWD 55
EV/EBIT 112.76 TWD 153.20 TWD 193.63 TWD 53
EV/EBITDA 103.24 TWD 140.50 TWD 177.76 TWD 54
EV/Revenue 78.03 TWD 115.14 TWD 152.24 TWD 43
Asset-Based
NCAV (Graham) 19.28 TWD 25.84 TWD 38.56 TWD 50
Economic Profit
Residual Income 42.81 TWD 53.19 TWD 123.29 TWD 76
ROIC Compounder 69.21 TWD 98.63 TWD 137.35 TWD 72
Growth Earnings
Growth-Adj P/E 105.93 TWD 151.33 TWD 196.73 TWD 68

Widest divergence: Growth Earnings (151.33 TWD) versus Asset-Based (25.84 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.7B TWD
Revenue growth (YoY) +22.4%
Net margin 11.1%
Return on equity 20.1%
Free cash flow −131M TWD FY2025
P/E ratio 28.6
More key figures
Operating margin 18.0%
EPS (TTM) 6.79 TWD
Dividend yield 2.5%
EPS growth (YoY) +6.2%
Net debt 258M TWD FY2025

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

Quality Score breakdown

Overall quality 46/100

Of which business quality 46 · Market factors (momentum, volatility) 62

Profitability 60
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 15
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 62
Distance to the 52-week high (market factor)
Net Issuance 53
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

Neousys Technology Inc. designs, manufactures, and markets edge AI computing platforms and rugged embedded computers in Taiwan.

Full company description

Neousys Technology Inc. designs, manufactures, and markets edge AI computing platforms and rugged embedded computers in Taiwan. The company offers industrial computers, including fanless industrial computer, expansion box pc, and ultra-compact industrial computers; in-vehicle computing products, such as E-mark/EN 50155, GMSL camera hub, and expansion cards; edge AI GPU computing products, consisting of NVIDIA jetson rugged computer, NVIDIA quadro RTX, and NVIDIA L4; and SEMIL extreme-rugged products comprising fanless GPU, built-in superCAP UPS, and IP67 rating computers. It also provides machine vision, including vision computer, real-time control I/O, expansion frame grabber card, and LED controllers; mobile surveillance products, such as surveillance system, ethernet switch, and PoE+ cards; industrial IoTs, consisting of ARM-based IoT gateway, X86-based IoT gateway, and 4G LTE modules; and industrial superCAP UPS products comprising expansion cards and standalone modules. The company was founded in 1999 and is headquartered in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Neousys Technology Inc reported revenue of 1.6B TWD in FY2025 versus 977M TWD in FY2021, a compound +13.9%/yr. Reported net income was 187M TWD in FY2025, compounding +10.4%/yr from FY2021.

Growth Quality 55/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.6B TWD
Latest YoY
+13.7%
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.
+8.6%
Revenue +13.9%/yr
FY21 977M TWD
FY22 1.3B TWD
FY23 1.1B TWD
FY24 1.4B TWD
FY25 1.6B TWD
Net income +10.4%/yr
FY21 126M TWD
FY22 178M TWD
FY23 105M TWD
FY24 194M TWD
FY25 187M TWD

6922 screens 15% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Neousys Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/6922

Peer Group

Computer Hardware · 215 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 46 · Below median
Fair Value upside −15% · Above median
Return on equity (TTM) 20% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 22% · Above median
Dividend yield (TTM) 2.5% · Above median
Debt / equity 0.54× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 28.6× · Pricier than median
P/B 5.04× · Pricier than 75% of peers
P/S (TTM) 3.04× · Pricier than 75% of peers
EV/EBITDA 19.4× · Pricier 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 13 · sector 0
FUTURE 100 · sector 57
PAST 80 · sector 26
HEALTH 73 · sector 97
DIVIDEND 50 · sector 44

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

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is Neousys Technology Inc (6922) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 172.71 TWD versus a price of 204.00 TWD, about −15% (overvalued).
What is the fair value of 6922?
Our model-based fair value for Neousys Technology Inc is 172.71 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 204.00 TWD.
What is the quality score of 6922?
Neousys Technology Inc has a Quality Score of 46/100. 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 Neousys Technology Inc (6922)?
Neousys Technology Inc reported trailing-twelve-month revenue of about 1.7B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6922?
The net profit margin of Neousys Technology Inc is about 11.1%, meaning it keeps roughly 11.1% 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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