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Phoenix Silicon International Corporation (8028) Fair Value & Analysis

Technology · TW · Market cap 55.5B TWD

PS Phoenix Silicon International Corporation 8028 · TW
Price254.00 TWD
Fair Value70.74 TWD
Upside-72.2%
Quality47/100
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Expensive Growth
Solidly profitable · 17.2% net margin
Moderate debt · negative free cash flow
0.93% dividend yield
Mixed vs. peers (6/13)
Wide moat 65/100
Evidence: High Range 50.48 TWD – 91.95 TWD Share as image

Fair value as of: Jul 21, 2026

From 16 valuation models · updated 19 days ago

Share price −16.9% over the past month.

Below-average quality, and screening another 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (91.95 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (50.48 TWD to 91.95 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

353.33 TWD 29.98 TWD Fair Value 70.74 TWD Mar 2021 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

60‑month range 29.98 TWD – 353.33 TWD · fair‑value band 50.48 TWD – 91.95 TWD · the 254.00 TWD price screens above the 70.74 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Phoenix Silicon International Corporation (8028) currently trades at 254.00 TWD, while our model-based Fair Value estimate is 70.74 TWD, implying the stock looks roughly 72.2% overvalued today. The Quality Score stands at 47/100 (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, Phoenix Silicon International Corporation generated revenue of 4.7B TWD at a net margin of 17.2%. Revenue grew 20.4% year over year. It earns a return on equity of 16.2%. Net debt stands at 5.1B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 50.48 TWD (bear case) to 91.95 TWD (bull case); at 254.00 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 30% below its 52-week high and 102% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -72%, 8028 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 BearBaseBull Evidence
Highest evidence
Residual Income 27.97 TWD 35.55 TWD 82.47 TWD 76
ROIC Compounder 22.80 TWD 32.47 TWD 48.92 TWD 72
Gordon GGM 19.18 TWD 39.88 TWD 63.26 TWD 70
All 16 models by family
Earnings-Based
Graham-Dodd 28.30 TWD 120.85 TWD 165.06 TWD 54
Lynch FV 30.88 TWD 44.11 TWD 57.34 TWD 50
PEG = 1.0 30.88 TWD 44.11 TWD 57.34 TWD 46
EPV 22.80 TWD 30.18 TWD 36.63 TWD 59
Dividend Discount
Gordon GGM 19.18 TWD 39.88 TWD 63.26 TWD 70
DDM Multi-Stage 19.18 TWD 33.63 TWD 41.85 TWD 61
Multiples
P/E Multiple 62.42 TWD 83.23 TWD 104.03 TWD 63
P/S Multiple 46.51 TWD 62.01 TWD 77.51 TWD 58
P/B Multiple 53.06 TWD 70.74 TWD 88.43 TWD 55
EV/EBIT 50.57 TWD 74.57 TWD 98.57 TWD 53
EV/EBITDA 81.76 TWD 116.16 TWD 150.56 TWD 54
EV/Revenue 21.96 TWD 40.56 TWD 59.17 TWD 43
Asset-Based
NCAV (Graham) 14.05 TWD 18.82 TWD 28.09 TWD 50
Economic Profit
Residual Income 27.97 TWD 35.55 TWD 82.47 TWD 76
ROIC Compounder 22.80 TWD 32.47 TWD 48.92 TWD 72
Growth Earnings
Growth-Adj P/E 50.48 TWD 72.11 TWD 93.74 TWD 68

Widest divergence: Growth Earnings (72.11 TWD) versus Asset-Based (18.82 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 4.7B TWD
Revenue growth (YoY) +20.4%
Net margin 17.2%
Return on equity 16.2%
Free cash flow −1.7B TWD FY2025
P/E ratio 72.6
More key figures
Operating margin 25.5%
EPS (TTM) 4.20 TWD
Dividend yield 0.9%
EPS growth (YoY) +24.6%
Net debt 5.1B TWD FY2025

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

Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 66

Profitability 44
Margins and returns on capital today
Quality Growth 73
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 14
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 85
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 27
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

Phoenix Silicon International Corporation engages in the wafer process service development, wafering, and wafer thinning businesses in Taiwan.

Full company description

Phoenix Silicon International Corporation engages in the wafer process service development, wafering, and wafer thinning businesses in Taiwan. It offers wafer reclaim process services and new test wafer products for semiconductor IC manufacturing process monitoring; and wafer thinning products for conduction resistance and ultra-thin wafer, as well as metal film deposition and etching process for front/back sides of wafers and wafer testing. The company was founded in 1986 and is headquartered in Hsinchu City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Phoenix Silicon International Corporation reported revenue of 4.5B TWD in FY2025 versus 2.7B TWD in FY2021, a compound +14.2%/yr. Reported net income was 757M TWD in FY2025, compounding +33.9%/yr from FY2021.

Growth Quality 60/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
4.5B TWD
Latest YoY
+27.0%
Avg. growth/yr (3Y)
+12.8%
Avg. growth/yr (5Y)
+13.1%
Avg. growth/yr (14Y)
+11.1%
Revenue +14.2%/yr
FY21 2.7B TWD
FY22 3.1B TWD
FY23 3.3B TWD
FY24 3.6B TWD
FY25 4.5B TWD
Net income +33.9%/yr
FY21 236M TWD
FY22 325M TWD
FY23 312M TWD
FY24 492M TWD
FY25 757M TWD

8028 screens 72% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "Phoenix Silicon International Corporation Fair Value". https://www.fairvalue-calculator.com/stock/8028

Peer Group

Semiconductor Equipment & Materials · 211 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 47 · Below median
Fair Value upside −72% · Below median
Return on equity (TTM) 16% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 17% · Above median
Operating margin (TTM) 26% · Top 25%
Revenue growth 20% · Above median
Dividend yield (TTM) 0.9% · Above median
Debt / equity 0.96× · Higher than 75% of peers

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 72.6× · Pricier than median
P/B 10.86× · Pricier than 75% of peers
P/S (TTM) 11.72× · Pricier than 75% of peers
EV/EBITDA 29.4× · 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 0 · sector 0
FUTURE 100 · sector 58
PAST 65 · sector 30
HEALTH 52 · sector 96
DIVIDEND 19 · sector 16

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is Phoenix Silicon International Corporation (8028) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 70.74 TWD versus a price of 254.00 TWD, about −72% (overvalued).
What is the fair value of 8028?
Our model-based fair value for Phoenix Silicon International Corporation is 70.74 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 254.00 TWD.
What is the quality score of 8028?
Phoenix Silicon International Corporation has a Quality Score of 47/100. 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 Phoenix Silicon International Corporation (8028)?
Phoenix Silicon International Corporation reported trailing-twelve-month revenue of about 4.7B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 8028?
The net profit margin of Phoenix Silicon International Corporation is about 17.2%, meaning it keeps roughly 17.2% of revenue as net income. Based on the latest reported figures.
Does Phoenix Silicon International Corporation pay a dividend?
Phoenix Silicon International Corporation currently shows a dividend yield of about 0.92% 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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