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Chang Wah Electromaterials Inc (8070) Fair Value & Analysis

Technology · TW · Market cap 33.4B TWD

CW Chang Wah Electromaterials Inc 8070 · TW
Price47.35 TWD
Fair Value20.33 TWD
Upside-57.1%
Quality52/100
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Healthy Growth
Thin margins · 3.7% net margin
Low debt · generates free cash flow
5.80% dividend yield
Mixed vs. peers (6/14)
Narrow moat 34/100
Evidence: Medium Range 15.25 TWD – 25.42 TWD Share as image

Fair value as of: Jul 21, 2026

From 25 valuation models · updated 19 days ago

Share price −11.2% over the past month.

A solid business, but screening 57% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (25.42 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

64.50 TWD 21.47 TWD Fair Value 20.33 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 21.47 TWD – 64.50 TWD · fair‑value band 15.25 TWD – 25.42 TWD · the 47.35 TWD price screens above the 20.33 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Chang Wah Electromaterials Inc (8070) currently trades at 47.35 TWD, while our model-based Fair Value estimate is 20.33 TWD, implying the stock looks roughly 57.1% overvalued today. The Quality Score stands at 52/100 (solid 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: medium).

Over the trailing twelve months, Chang Wah Electromaterials Inc generated revenue of 20.3B TWD at a net margin of 3.7%. Revenue grew 20.4% year over year. It earns a return on equity of 6.9%. Net debt stands at 4.8B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 15.25 TWD (bear case) to 25.42 TWD (bull case); at 47.35 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 28% below its 52-week high and 28% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -33% fair-value upside, at -57%, 8070 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
Growth DCF 25.30 TWD 36.75 TWD 52.60 TWD 80
Residual Income 19.20 TWD 19.28 TWD 17.67 TWD 76
Rev-Margin DCF 24.53 TWD 39.13 TWD 55.08 TWD 74
All 25 models by family
DCF Models
FCF DCF 24.62 TWD 37.11 TWD 55.25 TWD 38
Owner Earnings 7.20 TWD 11.43 TWD 17.59 TWD 31
5Y Revenue Exit 24.53 TWD 38.94 TWD 56.85 TWD 39
5Y EBITDA Exit 30.30 TWD 49.35 TWD 70.89 TWD 41
5Y P/E Exit 16.31 TWD 24.11 TWD 31.88 TWD 38
10Y Revenue Exit 23.50 TWD 36.46 TWD 52.85 TWD 36
10Y EBITDA Exit 27.94 TWD 43.55 TWD 63.21 TWD 37
10Y P/E Exit 19.15 TWD 26.37 TWD 34.42 TWD 35
Earnings-Based
Graham-Dodd 6.91 TWD 17.66 TWD 22.97 TWD 54
PEG = 1.0 3.30 TWD 4.71 TWD 6.12 TWD 46
EPV 21.12 TWD 24.93 TWD 28.27 TWD 59
Dividend Discount
Gordon GGM 24.07 TWD 46.72 TWD 79.38 TWD 70
DDM Multi-Stage 24.07 TWD 36.72 TWD 50.38 TWD 61
Multiples
P/E Multiple 15.25 TWD 20.33 TWD 25.42 TWD 63
P/S Multiple 12.96 TWD 17.28 TWD 21.60 TWD 58
P/B Multiple 12.96 TWD 17.28 TWD 21.60 TWD 55
EV/EBIT 39.56 TWD 53.33 TWD 67.10 TWD 53
EV/EBITDA 38.33 TWD 51.69 TWD 65.05 TWD 54
EV/Revenue 26.09 TWD 38.03 TWD 49.96 TWD 43
Asset-Based
NCAV (Graham) 12.75 TWD 17.09 TWD 25.50 TWD 50
Growth DCF
Growth DCF 25.30 TWD 36.75 TWD 52.60 TWD 80
Rev-Margin DCF 24.53 TWD 39.13 TWD 55.08 TWD 74
Economic Profit
Residual Income 19.20 TWD 19.28 TWD 17.67 TWD 76
ROIC Compounder 21.12 TWD 24.93 TWD 30.38 TWD 72
Growth Earnings
Growth-Adj P/E 11.87 TWD 16.96 TWD 22.05 TWD 68

Widest divergence: Growth DCF (36.75 TWD) versus Growth Earnings (16.96 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 20.3B TWD
Revenue growth (YoY) +20.4%
Net margin 3.7%
Return on equity 6.9%
Free cash flow 1.7B TWD FY2025
P/E ratio 46.4
More key figures
Operating margin 12.1%
EPS (TTM) 1.02 TWD
Dividend yield 5.8%
EPS growth (YoY) +8.5%
Net debt 4.8B TWD FY2025

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 53 · Market factors (momentum, volatility) 56

Profitability 25
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 46
Distance to the 52-week high (market factor)
Net Issuance 77
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

Chang Wah Electromaterials Inc. engages in trading of electrical, telecommunication, and semiconductor materials and parts in Taiwan, Asia, and internationally.

Full company description

Chang Wah Electromaterials Inc. engages in trading of electrical, telecommunication, and semiconductor materials and parts in Taiwan, Asia, and internationally. It offers various IC packaging materials, including EME, lead frame, laminated substrate, CRM, FCCSP/FCBGA substrate, release film, cover and UV tape, low CTE core and prepreg material, and dummy and monitor wafer; IC/LED packaging equipment, such as auto molding, trim and form, and full auto mold equipment, as well as fluid dispensing systems. The company also provides EMC LED lead frames; light guide plate and fine pitch FPC; and solar power systems. In addition, it is involved in import, export trading, leasing, manufacturing, and selling of electrical appliances, telecommunications equipment, and mechanical parts; and retailing of synthetic resin, and electronic materials and components. The company"s products are used for PC peripherals, consumer electronics, network and telecom, mobile devices, automotive, opto-electronic, and energy applications. It sells its products under the Sumitomo Bakelite brand. Chang Wah Electromaterials Inc. was incorporated in 1989 and is headquartered in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chang Wah Electromaterials Inc reported revenue of 19.4B TWD in FY2025 versus 20.7B TWD in FY2021, a compound −1.6%/yr. Reported net income was 716M TWD in FY2025, compounding −26.8%/yr from FY2021.

Growth Quality 65/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
19.4B TWD
Latest YoY
+12.3%
Avg. growth/yr (3Y)
−4.0%
Avg. growth/yr (5Y)
+3.3%
Avg. growth/yr (23Y)
+6.6%
Revenue −1.6%/yr
FY21 20.7B TWD
FY22 21.9B TWD
FY23 16.5B TWD
FY24 17.2B TWD
FY25 19.4B TWD
Net income −26.8%/yr
FY21 2.5B TWD
FY22 3.6B TWD
FY23 1.5B TWD
FY24 1.6B TWD
FY25 716M TWD

8070 screens 57% overvalued. Compare with TD SYNNEX Corporation →

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Cite: Fair Value Calculator (2026). "Chang Wah Electromaterials Inc Fair Value". https://www.fairvalue-calculator.com/stock/8070

Peer Group

Electronics & Computer Distribution · 151 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 52 · Below median
Fair Value upside −57% · Bottom 25%
Return on equity (TTM) 7% · Below median
Return on assets 4% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 12% · Top 25%
Revenue growth 20% · Above median
Dividend yield (TTM) 5.8% · Top 25%
Debt / equity 0.48× · Higher than 75% of peers

Valuation Multiples vs Electronics & Computer Distribution median · lower = cheaper

P/E (TTM) 46.4× · Pricier than 75% of peers
P/B 1.86× · Pricier than median
P/S (TTM) 1.65× · Pricier than 75% of peers
P/FCF 0.6× · Cheaper than median
EV/EBITDA 11.6× · 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 14
FUTURE 100 · sector 57
PAST 27 · sector 36
HEALTH 76 · sector 98
DIVIDEND 100 · sector 39

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 Electronics & Computer Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
TD SYNNEX Corporation SNX $251.52 $207.02 -18%
Unisplendour Corporation 000938 ¥38.59 ¥11.79 -69%
Rexel S.A RXL €38.59 €33.31 -14%
Arrow Electronics, Inc ARW $204.10 $115.40 -43%
Avnet, Inc AVT $87.13 $58.57 -33%
WPG Holdings 3702 106.50 TWD 102.31 TWD -4%
Shenzhen Huaqiang Industry Co 000062 ¥22.37 ¥7.52 -66%
Synnex Technology International Corporation 2347 85.30 TWD 86.30 TWD +1%
Nanjing Sunlord Electronics Corporation 300975 ¥37.37 ¥8.60 -77%
Beijing Tricolor Technology Co 603516 ¥106.52 ¥23.39 -78%

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Frequently asked questions

Is Chang Wah Electromaterials Inc (8070) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 20.33 TWD versus a price of 47.35 TWD, about −57% (overvalued).
What is the fair value of 8070?
Our model-based fair value for Chang Wah Electromaterials Inc is 20.33 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 47.35 TWD.
What is the quality score of 8070?
Chang Wah Electromaterials Inc has a Quality Score of 52/100. 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 Chang Wah Electromaterials Inc (8070)?
Chang Wah Electromaterials Inc reported trailing-twelve-month revenue of about 20.3B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 8070?
The net profit margin of Chang Wah Electromaterials Inc is about 3.7%, meaning it keeps roughly 3.7% of revenue as net income. Based on the latest reported figures.
Does Chang Wah Electromaterials Inc pay a dividend?
Chang Wah Electromaterials Inc currently shows a dividend yield of about 4.61% 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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