Formosa Advanced Technologies Co Ltd (8131) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Formosa Advanced Technologies Co Ltd TWD 30.75, price TWD 61.40, upside -49.9%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Formosa Advanced Technologies Co., Ltd., engages in the production and sales of molybdenum wafers in Taiwan, the United States, Korea, China, and internationally. It also provides wafer probing, IC assembly, testing, and module turnkey services, as well as LED back-end chip process services.
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Formosa Advanced Technologies Co., Ltd., engages in the production and sales of molybdenum wafers in Taiwan, the United States, Korea, China, and internationally. It also provides wafer probing, IC assembly, testing, and module turnkey services, as well as LED back-end chip process services. The company was founded in 1980 and is headquartered in Douliou City, Taiwan.
Stock analysis
Formosa Advanced Technologies Co Ltd (8131) currently trades at 61.40 TWD, while our model-based Fair Value estimate is 30.75 TWD, implying the stock looks roughly 99.7% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 29.26 TWD per share, and 1 of the 15 models we run sit above the 61.40 TWD price.
Bear case: the DCF Models group reads lowest at 18.27 TWD, and 14 of the 15 models stay below the price. Evidence for this calculation is medium.
Scenario range: 28.84 TWD (bear) to 34.95 TWD (bull), the price of 61.40 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 56/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Formosa Advanced Technologies Co Ltd reported revenue of 9.9B TWD in FY2025 versus 9.9B TWD in FY2021, a compound 0.0%/yr. Reported net income was 603M TWD in FY2025, compounding −21.1%/yr from FY2021.
Key figures
Market cap 29.5B TWD (≈ $928M) · P/E ratio 45.1 · P/S ratio 2.74 · EPS (TTM) 1.36 TWD · Dividend yield 1.6% · Net margin 6.1% · Return on equity 7.6% · Return on assets (EBIT) 8.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 105% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at −50%, 8131 screens richer than that median.
Fair Value models
Bear 28.84 TWDFair Value 30.75 TWDBull 34.95 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.2633 TWD per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.26/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+11.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−1.7%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.4%
Start year 2020 (pandemic). Over 10 years: +1.3% a year
Revenue growth 22 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+7.4%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−13.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−15.5%
Dividend (yield on the price)1.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−16% vs −5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.18% → 7%
Compare Formosa Advanced Technologies Co Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Semiconductors · 335 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Below median
Fair Value upside−50% · Below median
Profitability
Return on equity (TTM)8% · Above median
Return on assets5% · Above median
Net margin (TTM)8% · Above median
Operating margin (TTM)16% · Above median
Growth and dividend
Revenue growth32% · Above median
Dividend yield (TTM)1.6% · Above median
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (TTM)45.1× · Cheaper than median
P/B2.41× · Cheaper than median
P/S (TTM)2.78× · Cheaper than median
EV/EBITDA16.6× · Cheaper than median
PEG0.91× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 64
PAST (return on equity)30· sector 24
HEALTH (low debt)93· sector 95
DIVIDEND (yield)33· sector 18
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Formosa Advanced Technologies Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8131
Frequently asked questions
Is Formosa Advanced Technologies Co Ltd (8131) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 30.75 TWD versus a price of 61.40 TWD, about −50% upside (overvalued).
What is the fair value of 8131?
Our model-based fair value for Formosa Advanced Technologies Co Ltd is 30.75 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 61.40 TWD.
What is the quality score of 8131?
Formosa Advanced Technologies Co Ltd 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 price target for Formosa Advanced Technologies Co Ltd (8131)?
Our model-based price target is the fair value of 30.75 TWD (as of Sep 23, 2026) from 15 valuation models. Cautious scenario 28.84 TWD, optimistic scenario 34.95 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Formosa Advanced Technologies Co Ltd stock forecast for 2026?
Our models put fair value at 30.75 TWD, about −50% upside versus a price of 61.40 TWD (overvalued). Cautious scenario 28.84 TWD, optimistic scenario 34.95 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Formosa Advanced Technologies Co Ltd (8131)?
Formosa Advanced Technologies Co Ltd reported trailing-twelve-month revenue of about 10.6B TWD (latest available figure, as of Sep 23, 2026).
Does Formosa Advanced Technologies Co Ltd pay a dividend?
Formosa Advanced Technologies Co Ltd currently shows a dividend yield of about 1.63% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Formosa Advanced Technologies Co Ltd (8131)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Formosa Advanced Technologies Co Ltd it is 30.75 TWD per share (as of Sep 23, 2026), against a price of 61.40 TWD. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Formosa Advanced Technologies Co Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 8131 trades above its calculated fair value: price 61.40 TWD, fair value 30.75 TWD, a gap of about −50% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 8131?
No. The price is what the market pays today (61.40 TWD); the fair value is what the company's own numbers justify (30.75 TWD). For Formosa Advanced Technologies Co Ltd the two are 30.65 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Formosa Advanced Technologies Co Ltd worth?
The market values Formosa Advanced Technologies Co Ltd at about 29.5B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 61.40 TWD; our models calculate a fair value of 30.75 TWD per share.
What do the bullish and bearish scenarios say about 8131?
Our models span a range for Formosa Advanced Technologies Co Ltd: cautious scenario 28.84 TWD, base 30.75 TWD, optimistic 34.95 TWD per share (as of Sep 23, 2026, price 61.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8131?
Formosa Advanced Technologies Co Ltd trades at a price-to-earnings ratio of 45.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 30.75 TWD is built from several models across several years. Other multiples: PEG 0.9, P/B 2.4, P/S 2.8, EV/EBITDA 16.6.
What is the PEG ratio of 8131?
The PEG ratio of Formosa Advanced Technologies Co Ltd is 0.91 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Formosa Advanced Technologies Co Ltd (8131)?
Balance-sheet figures for Formosa Advanced Technologies Co Ltd (as of Sep 23, 2026): return on equity 7.6%, debt of 0.13 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 8131 from its 52-week high?
Formosa Advanced Technologies Co Ltd trades at 61.40 TWD, about 28% below its 52-week high of 85.30 TWD and 105% above the low of 30.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 30.75 TWD is for.
Which stocks are comparable to Formosa Advanced Technologies Co Ltd?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Formosa Advanced Technologies Co Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price 61.40 TWD, calculated fair value 30.75 TWD (−50%), Quality Score 56/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 8131 calculated?
We run Formosa Advanced Technologies Co Ltd through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 30.75 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Formosa Advanced Technologies Co Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Formosa Advanced Technologies Co Ltd (8131)?
The closing price on Sep 24, 2026 was 61.40 TWD. Our model-based fair value is 30.75 TWD, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Formosa Advanced Technologies Co Ltd right now?
The price sits above even our optimistic bull case (34.95 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.
Where does the earnings growth of Formosa Advanced Technologies Co Ltd (8131) come from?
Earnings per share at Formosa Advanced Technologies Co Ltd grew −4.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.0 %, EBIT margin −7.7 %, tax rate +0.2 %, residual (interest, one-offs) +3.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Formosa Advanced Technologies Co Ltd
How large is the market capitalisation of Formosa Advanced Technologies Co Ltd (8131)?
The market capitalisation of Formosa Advanced Technologies Co Ltd is 29.5B TWD (≈ $928M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Formosa Advanced Technologies Co Ltd (8131)?
The price-to-sales ratio of Formosa Advanced Technologies Co Ltd is 2.74 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Formosa Advanced Technologies Co Ltd (8131)?
Earnings per share at Formosa Advanced Technologies Co Ltd are 1.36 TWD (price ÷ EPS = P/E 45.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Formosa Advanced Technologies Co Ltd (8131)?
The dividend yield of Formosa Advanced Technologies Co Ltd is 1.6% (payout 73.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Formosa Advanced Technologies Co Ltd (8131)?
The net margin of Formosa Advanced Technologies Co Ltd is 6.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Formosa Advanced Technologies Co Ltd (8131)?
The return on equity (ROE) of Formosa Advanced Technologies Co Ltd is 7.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Formosa Advanced Technologies Co Ltd (8131)?
On an EBIT basis the return on assets of Formosa Advanced Technologies Co Ltd is 8.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Formosa Advanced Technologies Co Ltd (8131)?
The operating margin of Formosa Advanced Technologies Co Ltd is 16.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Formosa Advanced Technologies Co Ltd (8131)?
Revenue at Formosa Advanced Technologies Co Ltd is growing +32.0% versus a year earlier (3y avg −1.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Formosa Advanced Technologies Co Ltd (8131)?
Earnings per share at Formosa Advanced Technologies Co Ltd are growing +182% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Formosa Advanced Technologies Co Ltd (8131) generate?
The free cash flow of Formosa Advanced Technologies Co Ltd is −459M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Formosa Advanced Technologies Co Ltd (8131) hold?
Formosa Advanced Technologies Co Ltd holds more cash than debt, 3.6B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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