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Skytech Inc (6937) Fair Value & Analysis

Technology · TW · Market cap 19.8B TWD

SI Skytech Inc 6937 · TW
Price246.00 TWD
Fair Value50.40 TWD
Upside-79.5%
Quality35/100
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Expensive Growth
Thin margins · 9.2% net margin
Low debt · negative free cash flow
0.49% dividend yield
Mixed vs. peers (6/13)
Narrow moat 42/100
Evidence: High Range 41.93 TWD – 80.64 TWD Share as image

Fair value as of: Jul 23, 2026

From 17 valuation models · updated 18 days ago

Share price −5.2% over the past month.

Below-average quality, and screening another 80% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (80.64 TWD). The favourable scenario is already priced in.
  • Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (41.93 TWD to 80.64 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (4 years)

400.75 TWD 105.67 TWD Fair Value 50.40 TWD Jan 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

43‑month range 105.67 TWD – 400.75 TWD · fair‑value band 41.93 TWD – 80.64 TWD · the 246.00 TWD price screens above the 50.40 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

Full chart & analysis →

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Analysis

Skytech Inc (6937) currently trades at 246.00 TWD, while our model-based Fair Value estimate is 50.40 TWD, implying the stock looks roughly 79.5% overvalued today. The Quality Score stands at 35/100 (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, Skytech Inc generated revenue of 2.4B TWD at a net margin of 9.2%. Revenue grew 26.3% year over year. It earns a return on equity of 6.2%. The balance sheet holds a net cash position of 292M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 41.93 TWD (bear case) to 80.64 TWD (bull case); at 246.00 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 31% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -80%, 6937 screens richer 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 BearBaseBull Evidence
Highest evidence
Residual Income 40.52 TWD 42.04 TWD 42.61 TWD 76
ROIC Compounder 27.74 TWD 31.29 TWD 34.39 TWD 72
Gordon GGM 19.28 TWD 40.09 TWD 63.60 TWD 70
All 17 models by family
DCF Models
Owner Earnings 39.23 TWD 62.71 TWD 101.74 TWD 31
Earnings-Based
Graham-Dodd 20.44 TWD 83.75 TWD 114.05 TWD 54
Lynch FV 21.04 TWD 30.05 TWD 39.07 TWD 50
PEG = 1.0 21.04 TWD 30.05 TWD 39.07 TWD 46
EPV 27.74 TWD 31.29 TWD 34.39 TWD 59
Dividend Discount
Gordon GGM 19.28 TWD 40.09 TWD 63.60 TWD 70
DDM Multi-Stage 19.28 TWD 33.81 TWD 42.08 TWD 61
Multiples
P/E Multiple 63.11 TWD 84.15 TWD 105.19 TWD 63
P/S Multiple 38.32 TWD 51.09 TWD 63.86 TWD 58
P/B Multiple 38.32 TWD 51.09 TWD 63.86 TWD 55
EV/EBIT 58.22 TWD 75.47 TWD 92.73 TWD 53
EV/EBITDA 60.38 TWD 78.36 TWD 96.33 TWD 54
EV/Revenue 32.62 TWD 43.84 TWD 55.06 TWD 43
Asset-Based
NCAV (Graham) 25.56 TWD 34.24 TWD 51.11 TWD 50
Economic Profit
Residual Income 40.52 TWD 42.04 TWD 42.61 TWD 76
ROIC Compounder 27.74 TWD 31.29 TWD 34.39 TWD 72
Growth Earnings
Growth-Adj P/E 43.42 TWD 62.03 TWD 80.64 TWD 68

Widest divergence: DCF Models (62.71 TWD) versus Earnings-Based (30.05 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 2.4B TWD
Revenue growth (YoY) +26.3%
Net margin 9.2%
Return on equity 6.2%
Free cash flow −61.2M TWD FY2025
P/E ratio 92.2
More key figures
Operating margin 13.0%
EPS (TTM) 3.00 TWD
EPS growth (YoY) +32.3%
Net cash 292M TWD FY2025

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

Quality Score breakdown

Overall quality 35/100

Of which business quality 38 · Market factors (momentum, volatility) 48

Profitability 36
Margins and returns on capital today
Quality Growth 2
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 48
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

Skytech Inc. engages in the semiconductor and related technology industries. The company provides thin film process, etching process, diffusion process, grinding process, measurement process, yellow light process, and automation equipment.

Full company description

Skytech Inc. engages in the semiconductor and related technology industries. The company provides thin film process, etching process, diffusion process, grinding process, measurement process, yellow light process, and automation equipment. The company's products include PVD and ALD machines; bonder and de-bonder machines; powder ALD machines; descum/plasma polish machines; single wafer load lock machines; PVD carbon machines; and customized parts and design products. It also offers semiconductor equipment parts repair services; and PVD, CVD, Etch, RTP, Wet, and metrology used equipment modification, refurbishment, installation, and relocation services. The company was founded in 2002 and is headquartered in Zhubei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Skytech Inc reported revenue of 2.2B TWD in FY2025 versus 1.7B TWD in FY2021, a compound +7.9%/yr. Reported net income was 203M TWD in FY2025, compounding +3.4%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.2B TWD
Latest YoY
−13.3%
Avg. growth/yr (3Y)
+7.3%
Avg. growth/yr (5Y)
+17.6%
Revenue +7.9%/yr
FY21 1.7B TWD
FY22 1.8B TWD
FY23 2.0B TWD
FY24 2.6B TWD
FY25 2.2B TWD
Net income +3.4%/yr
FY21 177M TWD
FY22 317M TWD
FY23 307M TWD
FY24 407M TWD
FY25 203M TWD

6937 screens 80% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "Skytech Inc Fair Value". https://www.fairvalue-calculator.com/stock/6937

Peer Group

Semiconductors · 319 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 35 · Bottom 25%
Fair Value upside −80% · Bottom 25%
Return on equity (TTM) 6% · Above median
Return on assets 3% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 13% · Above median
Revenue growth 26% · Above median
Dividend yield (TTM) 0.5% · Bottom 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 90.2× · Pricier than 75% of peers
P/B 5.73× · Pricier than median
P/S (TTM) 8.36× · Pricier than median
EV/EBITDA 63.9× · Pricier 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 0 · sector 0
FUTURE 100 · sector 60
PAST 25 · sector 24
HEALTH 97 · sector 97
DIVIDEND 10 · sector 22

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.

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

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc ZMIC C$52.57 C$7.50 -86%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is Skytech Inc (6937) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 50.40 TWD versus a price of 246.00 TWD, about −80% (overvalued).
What is the fair value of 6937?
Our model-based fair value for Skytech Inc is 50.40 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 246.00 TWD.
What is the quality score of 6937?
Skytech Inc has a Quality Score of 35/100. 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 Skytech Inc (6937)?
Skytech Inc reported trailing-twelve-month revenue of about 2.4B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6937?
The net profit margin of Skytech Inc is about 9.2%, meaning it keeps roughly 9.2% 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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