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Forcelead Technology Corp (6996) Fair Value & Analysis

Technology · TW · Market cap 7.3B TWD

FT Forcelead Technology Corp 6996 · TWO
Price178.00 TWD
Fair Value198.71 TWD
Upside+11.6%
Quality58/100
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Weak Growth
Solidly profitable · 19.5% net margin
generates free cash flow
5.99% dividend yield
Ranks above peers (11/13)
Wide moat 72/100
Evidence: High Range 144.73 TWD – 332.63 TWD Share as image

Fair value as of: Jul 21, 2026

From 22 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 176.99 TWD to 198.71 TWD (+12.3%) since Jul 12, 2026. Share price −8.7% over the past month.

A solid business, screening 12% undervalued on our models.

What matters now

  • A fairly wide model range (144.73 TWD to 332.63 TWD) leaves room in how you read the outcome.
  • Our model range runs from 144.73 TWD (bear) to 332.63 TWD (bull), base 198.71 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 58/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (3 years)

279.51 TWD 124.63 TWD Fair Value 198.71 TWD Dec 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

32‑month range 124.63 TWD – 279.51 TWD · fair‑value band 144.73 TWD – 332.63 TWD · the 178.00 TWD price screens below the 198.71 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Forcelead Technology Corp (6996) currently trades at 178.00 TWD, while our model-based Fair Value estimate is 198.71 TWD, implying the stock looks roughly 11.6% 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.

Over the trailing twelve months, Forcelead Technology Corp generated revenue of 2.8B TWD at a net margin of 19.5%. Revenue grew 15.3% year over year. It earns a return on equity of 22.8%. The stock trades on a trailing P/E of 16.4. Fundamentals as of Jul 21, 2026

Our scenario range runs from 144.73 TWD (bear case) to 332.63 TWD (bull case); at 178.00 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 16% below its 52-week high and 43% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 12%, 6996 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 75.82 TWD 99.88 TWD 330.12 TWD 76
Growth DCF 116.19 TWD 150.38 TWD 207.01 TWD 72
Growth-Adj P/E 140.14 TWD 200.20 TWD 260.27 TWD 68
All 22 models by family
DCF Models
FCF DCF 112.08 TWD 147.57 TWD 211.25 TWD 38
Owner Earnings 103.04 TWD 135.21 TWD 192.95 TWD 31
5Y Revenue Exit 116.09 TWD 164.27 TWD 234.32 TWD 39
5Y EBITDA Exit 130.02 TWD 188.37 TWD 265.66 TWD 41
5Y P/E Exit 156.05 TWD 233.43 TWD 325.69 TWD 38
10Y Revenue Exit 110.90 TWD 146.02 TWD 183.81 TWD 36
10Y EBITDA Exit 122.00 TWD 160.58 TWD 201.79 TWD 37
10Y P/E Exit 137.46 TWD 187.82 TWD 236.23 TWD 35
Earnings-Based
Graham-Dodd 81.93 TWD 100.14 TWD 112.66 TWD 54
EPV 104.30 TWD 118.38 TWD 130.54 TWD 59
Multiples
P/E Multiple 198.81 TWD 265.08 TWD 331.34 TWD 63
P/S Multiple 153.62 TWD 204.83 TWD 256.04 TWD 58
P/B Multiple 153.62 TWD 204.83 TWD 256.04 TWD 55
EV/EBIT 173.47 TWD 226.26 TWD 279.06 TWD 53
EV/EBITDA 163.27 TWD 212.67 TWD 262.06 TWD 54
EV/Revenue 128.13 TWD 176.57 TWD 225.02 TWD 43
Asset-Based
NCAV (Graham) 32.51 TWD 43.56 TWD 65.01 TWD 50
Growth DCF
Growth DCF 116.19 TWD 150.38 TWD 207.01 TWD 72
Rev-Margin DCF 116.09 TWD 166.62 TWD 228.37 TWD 67
Economic Profit
Residual Income 75.82 TWD 99.88 TWD 330.12 TWD 76
ROIC Compounder 104.30 TWD 122.07 TWD 139.98 TWD 67
Growth Earnings
Growth-Adj P/E 140.14 TWD 200.20 TWD 260.27 TWD 68

Widest divergence: Multiples (204.83 TWD) versus Asset-Based (43.56 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.8B TWD
Revenue growth (YoY) +15.3%
Net margin 19.5%
Return on equity 22.8%
Free cash flow 440M TWD FY2025
P/E ratio 16.4
More key figures
Operating margin 20.1%
EPS (TTM) 12.02 TWD
Dividend yield 5.0%
EPS growth (YoY) +26.1%

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 61 · Market factors (momentum, volatility) 68

Profitability 68
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 63
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

Forcelead Technology Corp., an IC design company, engages in the research, development, and sale of display driver chips and touch integrated driver chips in Taiwan, Asia, Europe, the United States, and internationally.

Full company description

Forcelead Technology Corp., an IC design company, engages in the research, development, and sale of display driver chips and touch integrated driver chips in Taiwan, Asia, Europe, the United States, and internationally. The company offers automotive display driver IC chips for instrument clusters, car audio systems, climate control systems, and other in-vehicle displays; display driver chips for dashboards, center consoles, head-up displays, electronic rearview mirrors, and rotary knobs; AIoT application display IC chips for POS systems, smart home appliance, and consuming and industrial control human-machine interfaces; and customized/OLED/ASIC display driver chips. Forcelead Technology Corp. was founded in 2009 and is headquartered in Zhubei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Forcelead Technology Corp reported revenue of 2.7B TWD in FY2025 versus 3.5B TWD in FY2021, a compound −6.6%/yr. Reported net income was 506M TWD in FY2025, compounding −18.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.7B TWD
Latest YoY
−9.4%
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.
−1.4%
Revenue −6.6%/yr
FY21 3.5B TWD
FY22 2.8B TWD
FY23 2.7B TWD
FY24 3.0B TWD
FY25 2.7B TWD
Net income −18.0%/yr
FY21 1.1B TWD
FY22 577M TWD
FY23 437M TWD
FY24 589M TWD
FY25 506M TWD

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Cite: Fair Value Calculator (2026). "Forcelead Technology Corp Fair Value". https://www.fairvalue-calculator.com/stock/6996

Peer Group

Electronic Components · 625 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 +12% · Top 25%
Return on equity (TTM) 23% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 15% · Above median
Dividend yield (TTM) 6.0% · Top 25%

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 14.5× · Cheaper than 75% of peers
P/B 2.68× · Pricier than median
P/S (TTM) 2.62× · Pricier than median
P/FCF 0.5× · Cheaper than median
EV/EBITDA 10.9× · Cheaper 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 49 · sector 0
FUTURE 77 · sector 32
PAST 91 · sector 24
HEALTH 0 · sector 95
DIVIDEND 100 · sector 25

Insider activity: 40/100

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Forcelead Technology Corp (6996) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 198.71 TWD versus a price of 178.00 TWD, about +12% (undervalued).
What is the fair value of 6996?
Our model-based fair value for Forcelead Technology Corp is 198.71 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 178.00 TWD.
What is the quality score of 6996?
Forcelead Technology Corp 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 revenue of Forcelead Technology Corp (6996)?
Forcelead Technology Corp reported trailing-twelve-month revenue of about 2.8B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6996?
The net profit margin of Forcelead Technology Corp is about 19.5%, meaning it keeps roughly 19.5% of revenue as net income. Based on the latest reported figures.
Does Forcelead Technology Corp pay a dividend?
Forcelead Technology Corp currently shows a dividend yield of about 5.03% relative to its recent price (as of Jul 21, 2026).

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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