Harmony Electronics (8182) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Harmony Electronics TWD 12.42, price TWD 40.45, upside -69.3%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Harmony Electronics Co. Ltd manufactures, process, trades, exports, and import of quartz crystal, oscillators, and filters products in Taiwan, Thailand, and China. The company provides crystal oscillators, thermistor crystal, crystal resonators, reference design with IC makers, and MEMS microphones.
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Harmony Electronics Co. Ltd manufactures, process, trades, exports, and import of quartz crystal, oscillators, and filters products in Taiwan, Thailand, and China. The company provides crystal oscillators, thermistor crystal, crystal resonators, reference design with IC makers, and MEMS microphones. It also engages in operation of new electronic components, as well as investments in various manufacturing businesses and banks. The company serves industrial, data communication, consumer devices, systems, 5G infrastructure, Metaverse, drone, server, and automotive sectors. Harmony Electronics Co. Ltd was incorporated in 1976 and is headquartered in Kaohsiung, Taiwan.
Stock analysis
Harmony Electronics (8182) currently trades at 40.45 TWD, while our model-based Fair Value estimate is 12.42 TWD, implying the stock looks roughly 225.7% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 26.80 TWD per share, and 1 of the 15 models we run sit above the 40.45 TWD price.
Bear case: the Earnings-Based group reads lowest at 3.63 TWD, and 14 of the 15 models stay below the price. Evidence for this calculation is medium.
Scenario range: 11.16 TWD (bear) to 14.46 TWD (bull), the price of 40.45 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 45/100 (below-average quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Harmony Electronics reported revenue of 2.9B TWD in FY2025 versus 3.6B TWD in FY2021, a compound −5.5%/yr. Reported net income was 46.7M TWD in FY2025, compounding −45.0%/yr from FY2021.
Key figures
Market cap 4.3B TWD (≈ $136M) · P/E ratio 91.9 · P/S ratio 1.50 · EPS (TTM) 0.4400 TWD · Dividend yield 0.6% · Net margin 1.6% · Return on equity 0.2% · Return on assets (EBIT) 5.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 62% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at −69%, 8182 screens richer than that median.
Fair Value models
Bear 11.16 TWDFair Value 12.42 TWDBull 14.46 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 (0.1395 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.16/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−2.1%
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.
−0.1%
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.
−1.0%
Start year 2020 (pandemic). Over 10 years: +0.2% a year
Revenue growth 16 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.
−2.1%
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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.
−26.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−26.7%
Dividend (yield on the price)0.6%
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.−27% vs −8%, 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.10% → 3%
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.Scientific & Technical Instruments · 160 stocks
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). "Harmony Electronics Fair Value". https://www.fairvalue-calculator.com/stock/8182
Frequently asked questions
Is Harmony Electronics (8182) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 12.42 TWD versus a price of 40.45 TWD, about −69% upside (overvalued).
What is the fair value of 8182?
Our model-based fair value for Harmony Electronics is 12.42 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 40.45 TWD.
What is the quality score of 8182?
Harmony Electronics has a Quality Score of 45/100. 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 Harmony Electronics (8182)?
Our model-based price target is the fair value of 12.42 TWD (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 11.16 TWD, optimistic scenario 14.46 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Harmony Electronics stock forecast for 2026?
Our models put fair value at 12.42 TWD, about −69% upside versus a price of 40.45 TWD (overvalued). Cautious scenario 11.16 TWD, optimistic scenario 14.46 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Harmony Electronics (8182)?
Harmony Electronics reported trailing-twelve-month revenue of about 2.8B TWD (latest available figure, as of Sep 24, 2026).
Does Harmony Electronics pay a dividend?
Harmony Electronics currently shows a dividend yield of about 0.62% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Harmony Electronics (8182)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Harmony Electronics it is 12.42 TWD per share (as of Sep 24, 2026), against a price of 40.45 TWD. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Harmony Electronics stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 8182 trades above its calculated fair value: price 40.45 TWD, fair value 12.42 TWD, a gap of about −69% (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 8182?
No. The price is what the market pays today (40.45 TWD); the fair value is what the company's own numbers justify (12.42 TWD). For Harmony Electronics the two are 28.03 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Harmony Electronics worth?
The market values Harmony Electronics at about 4.3B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 40.45 TWD; our models calculate a fair value of 12.42 TWD per share.
What do the bullish and bearish scenarios say about 8182?
Our models span a range for Harmony Electronics: cautious scenario 11.16 TWD, base 12.42 TWD, optimistic 14.46 TWD per share (as of Sep 24, 2026, price 40.45 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8182?
Harmony Electronics trades at a price-to-earnings ratio of 91.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 12.42 TWD is built from several models across several years. Other multiples: P/S 0.0.
How solid is the balance sheet of Harmony Electronics (8182)?
Balance-sheet figures for Harmony Electronics (as of Sep 24, 2026): return on equity 0.2%, debt of 0.16 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 8182 from its 52-week high?
Harmony Electronics trades at 40.45 TWD, about 31% below its 52-week high of 59.00 TWD and 62% above the low of 24.90 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 12.42 TWD is for.
Which stocks are comparable to Harmony Electronics?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Teledyne Technologies Incorporated, Chroma ATE 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 Harmony Electronics stock attractive at the current price?
The data as of Sep 24, 2026: price 40.45 TWD, calculated fair value 12.42 TWD (−69%), Quality Score 45/100, 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 8182 calculated?
We run Harmony Electronics 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 12.42 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 13.0 % above its aggregate fair value. Harmony Electronics 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 Harmony Electronics (8182)?
The closing price on Sep 24, 2026 was 40.45 TWD. Our model-based fair value is 12.42 TWD, about −69% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Harmony Electronics right now?
The price sits above even our optimistic bull case (14.46 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Harmony Electronics (8182) come from?
Earnings per share at Harmony Electronics grew +16.1 % a year from 2012 to 2023. Broken into its drivers: revenue per share −0.4 %, EBIT margin +17.3 %, tax rate +0.6 %, residual (interest, one-offs) −1.2 %. 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 Harmony Electronics
How large is the market capitalisation of Harmony Electronics (8182)?
The market capitalisation of Harmony Electronics is 4.3B TWD (≈ $136M). 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 Harmony Electronics (8182)?
The price-to-sales ratio of Harmony Electronics is 1.50 (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 Harmony Electronics (8182)?
Earnings per share at Harmony Electronics are 0.4400 TWD (price ÷ EPS = P/E 91.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Harmony Electronics (8182)?
The dividend yield of Harmony Electronics is 0.6% (payout 56.8%). 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 Harmony Electronics (8182)?
The net margin of Harmony Electronics is 1.6% (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 Harmony Electronics (8182)?
The return on equity (ROE) of Harmony Electronics is 0.2% (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 Harmony Electronics (8182)?
On an EBIT basis the return on assets of Harmony Electronics is 5.5% (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 Harmony Electronics (8182)?
The operating margin of Harmony Electronics is 1.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Harmony Electronics (8182)?
Revenue at Harmony Electronics is growing −3.3% versus a year earlier (3y avg −0.1%). 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 Harmony Electronics (8182)?
Earnings per share at Harmony Electronics are growing −73.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Harmony Electronics (8182) generate?
The free cash flow of Harmony Electronics is −127M 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 Harmony Electronics (8182) hold?
Harmony Electronics holds more cash than debt, 288M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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