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P-Duke Technology Co (8109) Fair Value & Analysis

Industrials · TW · Market cap 10.5B TWD

PD P-Duke Technology Co 8109 · TWO
Price132.50 TWD
Fair Value112.91 TWD
Upside-14.8%
Quality71/100
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Healthy Growth
Highly profitable · 28.6% net margin
Low debt · generates free cash flow
3.50% dividend yield
Ranks above peers (11/14)
Wide moat 80/100
Evidence: High Range 75.02 TWD – 147.61 TWD Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 109.69 TWD to 112.91 TWD (+2.9%) since Jul 12, 2026. Share price −12.3% over the past month.

A solid business, but screening 15% overvalued on our models.

What matters now

  • A fairly wide model range (75.02 TWD to 147.61 TWD) leaves room in how you read the outcome.
  • Our model range runs from 75.02 TWD (bear) to 147.61 TWD (bull), base 112.91 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 71/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

161.50 TWD 57.00 TWD Fair Value 112.91 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 57.00 TWD – 161.50 TWD · fair‑value band 75.02 TWD – 147.61 TWD · the 132.50 TWD price screens above the 112.91 TWD fair value. Dashed = 300-day average. As of Jul 22, 2026.

Full chart & analysis →

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Analysis

P-Duke Technology Co (8109) currently trades at 132.50 TWD, while our model-based Fair Value estimate is 112.91 TWD, implying the stock looks roughly 14.8% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Industrials 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, P-Duke Technology Co generated revenue of 1.8B TWD at a net margin of 28.6%. Revenue grew 20.6% year over year. It earns a return on equity of 18.4%. The balance sheet holds a net cash position of 1.4B TWD. Fundamentals as of Jul 22, 2026

Our scenario range runs from 75.02 TWD (bear case) to 147.61 TWD (bull case); at 132.50 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 1% below its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -15%, 8109 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
Growth DCF 60.37 TWD 81.42 TWD 111.64 TWD 80
Residual Income 41.18 TWD 54.01 TWD 160.51 TWD 76
Rev-Margin DCF 48.83 TWD 65.61 TWD 85.06 TWD 74
All 24 models by family
DCF Models
FCF DCF 59.67 TWD 83.49 TWD 119.95 TWD 38
Owner Earnings 53.43 TWD 73.75 TWD 104.85 TWD 31
5Y Revenue Exit 48.83 TWD 65.31 TWD 86.02 TWD 39
5Y EBITDA Exit 77.51 TWD 119.08 TWD 167.78 TWD 41
5Y P/E Exit 89.17 TWD 140.93 TWD 195.59 TWD 38
10Y Revenue Exit 51.53 TWD 67.52 TWD 88.50 TWD 36
10Y EBITDA Exit 70.65 TWD 104.90 TWD 151.05 TWD 37
10Y P/E Exit 78.09 TWD 120.09 TWD 172.31 TWD 35
Earnings-Based
Graham-Dodd 42.45 TWD 133.56 TWD 177.82 TWD 54
Lynch FV 29.24 TWD 41.77 TWD 54.29 TWD 50
PEG = 1.0 29.24 TWD 41.77 TWD 54.29 TWD 46
EPV 68.11 TWD 76.57 TWD 83.98 TWD 59
Multiples
P/E Multiple 98.33 TWD 131.10 TWD 163.88 TWD 63
P/S Multiple 32.12 TWD 42.83 TWD 53.54 TWD 58
P/B Multiple 79.60 TWD 106.13 TWD 132.66 TWD 55
EV/EBIT 112.05 TWD 143.63 TWD 175.21 TWD 53
EV/EBITDA 95.58 TWD 121.67 TWD 147.75 TWD 54
EV/Revenue 44.29 TWD 55.86 TWD 67.42 TWD 43
Asset-Based
NCAV (Graham) 19.13 TWD 25.64 TWD 38.27 TWD 50
Growth DCF
Growth DCF 60.37 TWD 81.42 TWD 111.64 TWD 80
Rev-Margin DCF 48.83 TWD 65.61 TWD 85.06 TWD 74
Economic Profit
Residual Income 41.18 TWD 54.01 TWD 160.51 TWD 76
ROIC Compounder 71.71 TWD 85.64 TWD 101.46 TWD 72
Growth Earnings
Growth-Adj P/E 81.61 TWD 116.58 TWD 151.55 TWD 68

Widest divergence: Growth Earnings (116.58 TWD) versus Asset-Based (25.64 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.8B TWD
Revenue growth (YoY) +20.6%
Net margin 28.6%
Return on equity 18.4%
Free cash flow 303M TWD FY2025
P/E ratio 21.0
More key figures
Operating margin 35.6%
EPS (TTM) 6.16 TWD
Dividend yield 3.5%
EPS growth (YoY) +10.1%
Net cash 1.4B TWD FY2023

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 69 · Market factors (momentum, volatility) 74

Profitability 61
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 80
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

P-Duke Technology Co.,Ltd. engages in the research, development, manufacture, and trading of power conversion products in Taiwan, Europe, the United States, the Asia Pacific, and internationally.

Full company description

P-Duke Technology Co.,Ltd. engages in the research, development, manufacture, and trading of power conversion products in Taiwan, Europe, the United States, the Asia Pacific, and internationally. The company provides AC/DC power supplies, DC/DC converters, surge protectors, surge/EMC filters, and custom power solutions; and telecommunications equipment, computer software and hardware, and peripheral equipment and components. Its products are used in the industrial, medical, railway, defense, and overvoltage category III industries. P-Duke Technology Co.,Ltd. was founded in 1981 and is headquartered in Taichung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

P-Duke Technology Co reported revenue of 1.7B TWD in FY2025 versus 1.5B TWD in FY2021, a compound +3.7%/yr. Reported net income was 508M TWD in FY2025, compounding +7.0%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.7B TWD
Latest YoY
+15.0%
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.
−1.1%
Avg. growth/yr (5Y) 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.
+7.5%
Avg. growth/yr (16Y) 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.
+8.0%
Revenue +3.7%/yr
FY21 1.5B TWD
FY22 1.8B TWD
FY23 1.9B TWD
FY24 1.5B TWD
FY25 1.7B TWD
Net income +7.0%/yr
FY21 387M TWD
FY22 692M TWD
FY23 639M TWD
FY24 532M TWD
FY25 508M TWD
Character of growth · EPS growth decomposed (2012-2023) +8.8 % p.a.
Revenue per share +8.5 pp

of which total revenue +9.6 pp · buybacks/dilution −1.0 pp

EBIT margin +2.0 pp
Tax rate −0.5 pp
Residual (interest, one-offs) −1.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

8109 screens 15% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "P-Duke Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/8109

Peer Group

Electrical Equipment & Parts · 526 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 71 · Top 25%
Fair Value upside −15% · Above median
Return on equity (TTM) 18% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 29% · Top 25%
Operating margin (TTM) 36% · Top 25%
Revenue growth 21% · Above median
Dividend yield (TTM) 3.5% · Top 25%
Debt / equity 0.07× · Higher than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 21.0× · Cheaper than median
P/B 3.38× · Pricier than median
P/S (TTM) 5.78× · Pricier than 75% of peers
P/FCF 1.1× · Cheaper than median
EV/EBITDA 13.3× · 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 14 · sector 0
FUTURE 100 · sector 57
PAST 73 · sector 26
HEALTH 96 · sector 97
DIVIDEND 70 · sector 18

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is P-Duke Technology Co (8109) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 112.91 TWD versus a price of 132.50 TWD, about −15% (overvalued).
What is the fair value of 8109?
Our model-based fair value for P-Duke Technology Co is 112.91 TWD (as of Jul 22, 2026), built from audited fundamentals. The current price is 132.50 TWD.
What is the quality score of 8109?
P-Duke Technology Co has a Quality Score of 71/100. 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 P-Duke Technology Co (8109)?
P-Duke Technology Co reported trailing-twelve-month revenue of about 1.8B TWD (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 8109?
The net profit margin of P-Duke Technology Co is about 28.6%, meaning it keeps roughly 28.6% of revenue as net income. Based on the latest reported figures.
Does P-Duke Technology Co pay a dividend?
P-Duke Technology Co currently shows a dividend yield of about 3.80% relative to its recent price (as of Jul 22, 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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