Harmony Electronics Co (8182) Fair Value & Analysis
Technology · TW · Market cap 4.3B TWD
Fair value as of: Jul 22, 2026
From 15 valuation models · updated 20 days ago
Fair value updated Jul 22, 2026, revised from 10.51 TWD to 10.50 TWD (−0.1%) since Jul 12, 2026. Share price −22.5% over the past month.
Below-average quality, and screening another 74% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (11.02 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.
- The models converge in a tight band (9.90 TWD to 11.02 TWD), unusually little disagreement for a valuation.
Price vs Fair Value (5 years)
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 24.55 TWD – 59.00 TWD · fair‑value band 9.90 TWD – 11.02 TWD · the 40.00 TWD price screens above the 10.50 TWD fair value. Dashed = 300-day average. As of Jul 22, 2026.
Analysis
Harmony Electronics Co (8182) currently trades at 40.00 TWD, while our model-based Fair Value estimate is 10.50 TWD, implying the stock looks roughly 73.8% overvalued today. The Quality Score stands at 45/100 (below-average 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, Harmony Electronics Co generated revenue of 2.8B TWD at a net margin of 0.2%. Revenue declined 3.3% year over year. It earns a return on equity of 0.2%. The balance sheet holds a net cash position of 288M TWD. Fundamentals as of Jul 22, 2026
Our scenario range runs from 9.90 TWD (bear case) to 11.02 TWD (bull case); at 40.00 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 32% below its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -45% fair-value upside, at -74%, 8182 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.
All 15 models by family
Widest divergence: DCF Models (33.08 TWD) versus Earnings-Based (3.63 TWD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 67
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
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Harmony Electronics Co 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.
of which total revenue −0.3 pp · buybacks/dilution +0.0 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).
8182 screens 74% overvalued. Compare with Keysight Technologies, Inc →
Peer Group
Scientific & Technical Instruments · 161 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.
Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Keysight Technologies, Inc KEYS | $315.90 | $84.16 | -73% |
| Garmin Ltd GRMN | $241.76 | $146.67 | -39% |
| Teledyne Technologies Incorporated TDY | $635.52 | $367.58 | -42% |
| Chroma ATE Inc 2360 | 1,905 TWD | 286.15 TWD | -85% |
| Hexagon AB HEXAB | kr 80.10 | kr 52.93 | -34% |
| MKS Inc MKSI | $324.69 | $77.46 | -76% |
| AVIC Chengdu Aircraft Company 302132 | ¥52.91 | ¥34.47 | -35% |
| Fortive Corporation FTV | $61.78 | $33.84 | -45% |
| Trimble Inc TRMB | $52.72 | $24.47 | -54% |
| Cognex Corporation CGNX | $64.07 | $13.75 | -79% |
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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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