Amax Holding (6933) Fair Value & Analysis
Technology · TW · Market cap 7.2B TWD
Fair value as of: Jul 23, 2026
From 17 valuation models · updated 18 days ago
Share price +16.4% over the past month.
Below-average quality, and screening another 54% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (122.25 TWD). The favourable scenario is already priced in.
- Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (57.62 TWD to 122.25 TWD) leaves room in how you read the outcome.
Price vs Fair Value (3 years)
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
33‑month range 112.40 TWD – 371.08 TWD · fair‑value band 57.62 TWD – 122.25 TWD · the 180.50 TWD price screens above the 82.31 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Amax Holding (6933) currently trades at 180.50 TWD, while our model-based Fair Value estimate is 82.31 TWD, implying the stock looks roughly 54.4% overvalued today. The Quality Score stands at 49/100 (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, Amax Holding generated revenue of 6.9B TWD at a net margin of 3.7%. Revenue declined 6.9% year over year. It earns a return on equity of 10.9%. The balance sheet holds a net cash position of 113M TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 57.62 TWD (bear case) to 122.25 TWD (bull case); at 180.50 TWD, the current price sits above 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 31% below its 52-week high and 53% 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 -54%, 6933 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.
All 17 models by family
Widest divergence: DCF Models (170.66 TWD) versus Dividend Discount (30.08 TWD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 35
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
Amax Holding Co., Ltd. engages in the provision of advanced computing solutions in AI servers and HPC in Asia, the United States, and Europe.
Full company description
Amax Holding Co., Ltd. engages in the provision of advanced computing solutions in AI servers and HPC in Asia, the United States, and Europe. The company offers AI data center solutions, such as custom, computing solutions for AI, industrial applications, and cooling technologies; edge AI solutions for AI and server technologies for insights; and liquid cooled solutions, including single-phase cold plate, liquid-to-liquid cooling, immersion cooling, data center cooling, liquidmax workstations, and liquid-to-air cooling. It also provides workstation solutions comprising liquidmax, AR/VR, education, engineering, AI, and media and entertainment; original equipment manufacturing, cooling design, HPC system design, iso and compliance, cluster architecture, and gpu test drive services; and AMAX products, a vertically integrated AI infrastructure provider. Its products are used in AI and LLM, cloud service providers, semiconductor, healthcare, higher education, telecommunications, federal government, multimedia and entertainment, and manufacturing industries. Amax Holding Co., Ltd. was founded in 1979 and is headquartered in Fremont, California.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Amax Holding reported revenue of 7.0B TWD in FY2025 versus 5.2B TWD in FY2021, a compound +7.6%/yr. Reported net income was 213M TWD in FY2025, compounding −3.9%/yr from FY2021.
6933 screens 54% overvalued. Compare with Compal Electronics, Inc →
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.
Valuation Multiples vs Computer Hardware median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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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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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