Harmony Electronics (8182) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Harmony Electronics stock TWD 12.39, price TWD 30.60, that is 59.5% below the price, quality 45 out of 100. Rating: strongly overvalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 24.55 TWD – 59.00 TWD · fair‑value band 11.14 TWD – 14.40 TWD · the 30.60 TWD price screens above the 12.39 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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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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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 30.60 TWD, while our model-based Fair Value estimate is 12.39 TWD, 60% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 16.23 TWD per share, and 2 of the 15 models we run sit above the 30.60 TWD price.
Bear case: the Earnings-Based group reads lowest at 6.47 TWD, and 13 of the 15 models stay below the price. Data coverage for this calculation is low.
Scenario range: 11.14 TWD (bear) to 14.40 TWD (bull), the price of 30.60 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 3.3B TWD (≈ $99.8M) Micro · P/E ratio 29.1 · P/S ratio 1.05 · EPS (TTM) 1.05 TWD · Dividend yield 0.8% · Net margin 3.9% · Return on equity 3.2% · Return on assets (EBIT) 5.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).
What moves the price
The share trades about 48% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −45% fair-value upside, at −60%, 8182 screens richer than that median.
Fair Value models
Bear11.14 TWDFair Value 12.39 TWDBull14.40 TWD
Price 30.60 TWD · Downside -59.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.6860 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
−25.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−26.7%
Dividend (yield on the price)0.8%
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.−26.7% vs −7.6%, 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 Nov 8, 2026, our model estimates a fair value of 12.39 TWD versus a price of 30.60 TWD, about 60% lower (overvalued).
What is the fair value of 8182?
Our model-based fair value for Harmony Electronics is 12.39 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 30.60 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 12.39 TWD (as of Nov 8, 2026) from 15 valuation models. Cautious scenario 11.14 TWD, optimistic scenario 14.40 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 12.39 TWD, about 60% lower versus a price of 30.60 TWD (overvalued). Cautious scenario 11.14 TWD, optimistic scenario 14.40 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 2.9B TWD (latest available figure, as of Nov 8, 2026).
Does Harmony Electronics pay a dividend?
Harmony Electronics currently shows a dividend yield of 0.82% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Harmony Electronics (8182) and when is the ex-dividend date?
Harmony Electronics pays a dividend of 0.25 TWD per share a year, a dividend yield of 0.8%. The last ex-dividend date was Jul 15, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 23.8% of earnings. Our assessment: Token dividend. At a yield of 0.8% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.8% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
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 12.39 TWD per share (as of Nov 8, 2026), against a price of 30.60 TWD. It is the blended result of 15 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Harmony Electronics stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 8182 trades above its calculated fair value: price 30.60 TWD, fair value 12.39 TWD, a gap of about −60% (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 (30.60 TWD); the fair value is what the company's own numbers justify (12.39 TWD). For Harmony Electronics the two are 18.21 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 3.3B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 30.60 TWD; our models calculate a fair value of 12.39 TWD per share.
What do the bullish and bearish scenarios say about 8182?
Our models span a range for Harmony Electronics: cautious scenario 11.14 TWD, base 12.39 TWD, optimistic 14.40 TWD per share (as of Nov 8, 2026, price 30.60 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 29.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 12.39 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 14.7. Other multiples: P/B 0.8, P/S 1.1, EV/EBITDA 7.3.
How solid is the balance sheet of Harmony Electronics (8182)?
Balance-sheet figures for Harmony Electronics (as of Nov 8, 2026): return on equity 3.2%, 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 30.60 TWD, about 48% below its 52-week high of 59.00 TWD and 23% above the low of 24.90 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 12.39 TWD is for.
Which stocks are comparable to Harmony Electronics?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Coherent Corp, Teledyne Technologies Incorporated, 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 Nov 8, 2026: price 30.60 TWD, calculated fair value 12.39 TWD (−60%), 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 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 12.39 TWD builds on their evidence-weighted average, 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 13.3% 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 Nov 9, 2026 was 30.60 TWD. Our model-based fair value is 12.39 TWD, about 60% lower (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 (14.40 TWD). The favourable scenario is already priced in. Weak quality (45/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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 3.3B TWD (≈ $99.8M). 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 1.05 (last twelve months). 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 1.05 TWD (price ÷ EPS = P/E 29.1). 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 0.8% (payout 23.8%). 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 3.9% (last twelve months). 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 3.2% (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 −0.8% (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 +6.5% 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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Nov 8, 2026