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Walton Advanced Engineering, Inc (8110) Fair Value & Analysis

Technology · TW · Market cap 21.9B TWD

WA Walton Advanced Engineering, Inc 8110 · TW
Price45.30 TWD
Fair Value23.12 TWD
Upside-49.0%
Quality56/100
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Expensive Growth
Solidly profitable · 18.7% net margin
Low debt · generates free cash flow
3.38% dividend yield
Ranks above peers (11/15)
Moderate moat 46/100
Evidence: High Range 20.75 TWD – 38.19 TWD Share as image

Fair value as of: Jul 23, 2026

From 20 valuation models · updated 17 days ago

Fair value updated Jul 23, 2026, revised from 23.59 TWD to 23.12 TWD (−2.0%) since Jul 12, 2026. Share price −9.0% over the past month.

A solid business, but screening 49% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (38.19 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (20.75 TWD to 38.19 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

88.00 TWD 10.15 TWD Fair Value 23.12 TWD Mar 2021 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

60‑month range 10.15 TWD – 88.00 TWD · fair‑value band 20.75 TWD – 38.19 TWD · the 45.30 TWD price screens above the 23.12 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.

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Analysis

Walton Advanced Engineering, Inc (8110) currently trades at 45.30 TWD, while our model-based Fair Value estimate is 23.12 TWD, implying the stock looks roughly 49.0% overvalued today. The Quality Score stands at 56/100 (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: high).

Over the trailing twelve months, Walton Advanced Engineering, Inc generated revenue of 7.5B TWD at a net margin of 18.7%. Revenue grew 9.9% year over year. It earns a return on equity of 11.4%. The balance sheet holds a net cash position of 713M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 20.75 TWD (bear case) to 38.19 TWD (bull case); at 45.30 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 49% below its 52-week high and 267% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -49%, 8110 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
Growth DCF 6.00 TWD 6.39 TWD 7.13 TWD 80
Residual Income 20.99 TWD 23.52 TWD 41.40 TWD 76
Gordon GGM 1.80 TWD 2.19 TWD 2.61 TWD 70
All 20 models by family
DCF Models
FCF DCF 5.95 TWD 6.36 TWD 7.18 TWD 38
Owner Earnings 36.89 TWD 48.02 TWD 70.60 TWD 31
5Y Revenue Exit 5.83 TWD 6.28 TWD 6.96 TWD 39
5Y EBITDA Exit 19.88 TWD 30.10 TWD 44.04 TWD 41
5Y P/E Exit 24.86 TWD 38.53 TWD 55.27 TWD 38
10Y Revenue Exit 5.84 TWD 6.24 TWD 6.68 TWD 36
10Y EBITDA Exit 14.49 TWD 21.93 TWD 30.63 TWD 37
10Y P/E Exit 17.54 TWD 27.49 TWD 37.89 TWD 35
Earnings-Based
Graham-Dodd 16.57 TWD 27.02 TWD 32.68 TWD 54
Dividend Discount
Gordon GGM 1.80 TWD 2.19 TWD 2.61 TWD 70
DDM Multi-Stage 1.80 TWD 2.41 TWD 3.15 TWD 61
Multiples
P/E Multiple 36.55 TWD 48.73 TWD 60.92 TWD 63
P/S Multiple 26.65 TWD 35.53 TWD 44.41 TWD 58
P/B Multiple 31.07 TWD 41.42 TWD 51.78 TWD 55
EV/EBITDA 32.07 TWD 41.16 TWD 50.26 TWD 54
EV/Revenue 5.84 TWD 6.29 TWD 6.75 TWD 43
Asset-Based
NCAV (Graham) 11.92 TWD 15.97 TWD 23.83 TWD 50
Growth DCF
Growth DCF 6.00 TWD 6.39 TWD 7.13 TWD 80
Economic Profit
Residual Income 20.99 TWD 23.52 TWD 41.40 TWD 76
Growth Earnings
Growth-Adj P/E 25.86 TWD 36.94 TWD 48.02 TWD 68

Widest divergence: Multiples (41.16 TWD) versus Dividend Discount (2.19 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 7.5B TWD
Revenue growth (YoY) +9.9%
Net margin 18.7%
Return on equity 11.4%
Free cash flow 60.0M TWD FY2025
P/E ratio 22.2
More key figures
Operating margin 5.3%
EPS (TTM) 2.47 TWD
EPS growth (YoY) +132%
Net cash 713M TWD FY2025

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

Quality Score breakdown

Overall quality 56/100

Of which business quality 55 · Market factors (momentum, volatility) 46

Profitability 40
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 25
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 72
Distance to the 52-week high (market factor)
Net Issuance 88
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

Walton Advanced Engineering, Inc., together with its subsidiaries, provides semiconductor packaging and testing services in Taiwan and China. The company was formerly known as Walsin Advanced Engineering, Inc. and changed its name to Walton Advanced Engineering, Inc. in July 2002. Walton Advanced Engineering, Inc.

Full company description

Walton Advanced Engineering, Inc., together with its subsidiaries, provides semiconductor packaging and testing services in Taiwan and China. The company was formerly known as Walsin Advanced Engineering, Inc. and changed its name to Walton Advanced Engineering, Inc. in July 2002. Walton Advanced Engineering, Inc. was founded in 1995 and is headquartered in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Walton Advanced Engineering, Inc reported revenue of 7.3B TWD in FY2025 versus 8.1B TWD in FY2021, a compound −2.6%/yr. Reported net income was 1.3B TWD in FY2025, compounding +80.3%/yr from FY2021.

Growth Quality 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
7.3B TWD
Latest YoY
−6.9%
Avg. growth/yr (3Y)
−8.4%
Avg. growth/yr (5Y)
+4.2%
Avg. growth/yr (22Y)
+2.5%
Revenue −2.6%/yr
FY21 8.1B TWD
FY22 9.5B TWD
FY23 7.3B TWD
FY24 7.9B TWD
FY25 7.3B TWD
Net income +80.3%/yr
FY21 119M TWD
FY22 156M TWD
FY23 −6.8M TWD
FY24 134M TWD
FY25 1.3B TWD

8110 screens 49% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "Walton Advanced Engineering, Inc Fair Value". https://www.fairvalue-calculator.com/stock/8110

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 56 · Above median
Fair Value upside −49% · Above median
Return on equity (TTM) 11% · Above median
Return on assets -0% · Bottom 25%
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 5% · Below median
Revenue growth 10% · Below median
Dividend yield (TTM) 3.4% · Top 25%
Debt / equity 0.06× · Lower than median

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

P/E (TTM) 17.2× · Cheaper than 75% of peers
P/B 1.79× · Cheaper than median
P/S (TTM) 2.93× · Cheaper than median
P/FCF 11.4× · Pricier than median
EV/EBITDA 12.9× · Cheaper than median
PEG 0.49× · Cheaper 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 50 · sector 58
PAST 46 · sector 30
HEALTH 97 · sector 96
DIVIDEND 68 · 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 23, 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 Walton Advanced Engineering, Inc (8110) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 23.12 TWD versus a price of 45.30 TWD, about −49% (overvalued).
What is the fair value of 8110?
Our model-based fair value for Walton Advanced Engineering, Inc is 23.12 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 45.30 TWD.
What is the quality score of 8110?
Walton Advanced Engineering, Inc has a Quality Score of 56/100. 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 Walton Advanced Engineering, Inc (8110)?
Walton Advanced Engineering, Inc reported trailing-twelve-month revenue of about 7.5B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 8110?
The net profit margin of Walton Advanced Engineering, Inc is about 18.7%, meaning it keeps roughly 18.7% 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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