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Taiwan Printed Circuit Board Techvest Co (8213) Fair Value & Analysis

Technology · TW · Market cap 8.4B TWD

TP Taiwan Printed Circuit Board Techvest Co 8213 · TW
Price30.70 TWD
Fair Value45.53 TWD
Upside+48.3%
Quality52/100
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Weak Growth
Thin margins · 3.4% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/13)
Narrow moat 28/100
Evidence: High Range 34.87 TWD – 46.90 TWD Share as image

Fair value as of: Jul 23, 2026

From 15 valuation models · updated 18 days ago

Share price −10.0% over the past month.

A solid business, screening 48% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (34.87 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

46.74 TWD 26.25 TWD Fair Value 45.53 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 26.25 TWD – 46.74 TWD · fair‑value band 34.87 TWD – 46.90 TWD · the 30.70 TWD price screens below the 45.53 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Taiwan Printed Circuit Board Techvest Co (8213) currently trades at 30.70 TWD, while our model-based Fair Value estimate is 45.53 TWD, implying the stock looks roughly 48.3% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Taiwan Printed Circuit Board Techvest Co generated revenue of 18.4B TWD at a net margin of 3.4%. Revenue grew 11.2% year over year. It earns a return on equity of 3.6%. The balance sheet holds a net cash position of 881M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 34.87 TWD (bear case) to 46.90 TWD (bull case); at 30.70 TWD, the current price sits below 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 30% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 48%, 8213 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 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
Highest evidence
Residual Income 45.01 TWD 44.58 TWD 39.36 TWD 76
ROIC Compounder 43.88 TWD 47.03 TWD 49.75 TWD 72
Gordon GGM 12.44 TWD 17.34 TWD 22.20 TWD 70
All 15 models by family
DCF Models
Owner Earnings 58.57 TWD 71.23 TWD 89.84 TWD 31
Earnings-Based
Graham-Dodd 15.81 TWD 31.23 TWD 39.15 TWD 54
EPV 43.88 TWD 47.03 TWD 49.75 TWD 59
Dividend Discount
Gordon GGM 12.44 TWD 17.34 TWD 22.20 TWD 70
DDM Multi-Stage 12.44 TWD 17.16 TWD 22.46 TWD 61
Multiples
P/E Multiple 34.87 TWD 46.49 TWD 58.11 TWD 63
P/S Multiple 29.64 TWD 39.52 TWD 49.39 TWD 58
P/B Multiple 29.64 TWD 39.52 TWD 49.39 TWD 55
EV/EBIT 68.95 TWD 83.94 TWD 98.94 TWD 53
EV/EBITDA 94.16 TWD 117.56 TWD 140.96 TWD 54
EV/Revenue 54.28 TWD 67.28 TWD 80.28 TWD 43
Asset-Based
NCAV (Graham) 30.65 TWD 41.08 TWD 61.31 TWD 50
Economic Profit
Residual Income 45.01 TWD 44.58 TWD 39.36 TWD 76
ROIC Compounder 43.88 TWD 47.03 TWD 49.75 TWD 72
Growth Earnings
Growth-Adj P/E 25.25 TWD 36.07 TWD 46.90 TWD 68

Widest divergence: DCF Models (71.23 TWD) versus Dividend Discount (17.16 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 18.4B TWD
Revenue growth (YoY) +11.2%
Net margin 3.4%
Return on equity 3.6%
Free cash flow −132M TWD FY2025
P/E ratio 16.0
More key figures
Operating margin 4.2%
EPS (TTM) 2.25 TWD
EPS growth (YoY) -39.4%
Net cash 881M TWD FY2025

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 50 · Market factors (momentum, volatility) 38

Profitability 26
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 17
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 100
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

Taiwan Printed Circuit Board Techvest Co.,Ltd. engages in the manufacturing, processing, and selling of electronic components and printed circuit boards (PCBs) in China, Hong Kong, Taiwan, Singapore, and internationally. It offers LCD display panels. The company is also involved in the general investment business.

Full company description

Taiwan Printed Circuit Board Techvest Co.,Ltd. engages in the manufacturing, processing, and selling of electronic components and printed circuit boards (PCBs) in China, Hong Kong, Taiwan, Singapore, and internationally. It offers LCD display panels. The company is also involved in the general investment business. Taiwan Printed Circuit Board Techvest Co.,Ltd. was incorporated in 1998 and is based in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Taiwan Printed Circuit Board Techvest Co reported revenue of 18.4B TWD in FY2025 versus 27.5B TWD in FY2021, a compound −9.6%/yr. Reported net income was 614M TWD in FY2025, compounding −27.8%/yr from FY2021.

Growth Quality 20/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
18.4B TWD
Latest YoY
+3.7%
Avg. growth/yr (3Y) 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.
−5.8%
Avg. growth/yr (5Y) 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.
−4.3%
Avg. growth/yr (21Y) 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.
+11.4%
Revenue −9.6%/yr
FY21 27.5B TWD
FY22 22.0B TWD
FY23 18.9B TWD
FY24 17.7B TWD
FY25 18.4B TWD
Net income −27.8%/yr
FY21 2.3B TWD
FY22 1.5B TWD
FY23 1.1B TWD
FY24 746M TWD
FY25 614M TWD
Character of growth · EPS growth decomposed (2014-2025) −3.6 % p.a.
Revenue per share −2.1 pp

of which total revenue −2.3 pp · buybacks/dilution +0.2 pp

EBIT margin −2.0 pp
Tax rate −0.8 pp
Residual (interest, one-offs) +1.4 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).

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Cite: Fair Value Calculator (2026). "Taiwan Printed Circuit Board Techvest Co Fair Value". https://www.fairvalue-calculator.com/stock/8213

Peer Group

Electronic Components · 625 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 52 · Below median
Fair Value upside +48% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 11% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 14.1× · Cheaper than 75% of peers
P/B 0.52× · Cheaper than 75% of peers
P/S (TTM) 0.46× · Cheaper than median
EV/EBITDA 1.1× · 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 98 · sector 0
FUTURE 56 · sector 32
PAST 14 · sector 24
HEALTH 95 · sector 95
DIVIDEND 0 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Taiwan Printed Circuit Board Techvest Co (8213) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 45.53 TWD versus a price of 30.70 TWD, about +48% (undervalued).
What is the fair value of 8213?
Our model-based fair value for Taiwan Printed Circuit Board Techvest Co is 45.53 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 30.70 TWD.
What is the quality score of 8213?
Taiwan Printed Circuit Board Techvest Co has a Quality Score of 52/100. 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 Taiwan Printed Circuit Board Techvest Co (8213)?
Taiwan Printed Circuit Board Techvest Co reported trailing-twelve-month revenue of about 18.4B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 8213?
The net profit margin of Taiwan Printed Circuit Board Techvest Co is about 3.4%, meaning it keeps roughly 3.4% 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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