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BenQ Materials Corporation (8215) Fair Value & Analysis

Technology · TW · Market cap 8.0B TWD

BM BenQ Materials Corporation 8215 · TW
Price25.55 TWD
Fair Value20.04 TWD
Upside-21.6%
Quality28/100
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Expensive Growth
Loss-making · -3.5% net margin
Moderate debt · negative free cash flow
1.23% dividend yield
Trails peers (3/12)
Narrow moat 11/100
Evidence: Low Range 20.04 TWD – 80.18 TWD Share as image

Fair value as of: Jul 21, 2026

From 4 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 19.90 TWD to 20.04 TWD (+0.7%) since Jul 12, 2026. Share price −9.7% over the past month.

Below-average quality, and screening another 22% overvalued on our models.

What matters now

  • Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide (20.04 TWD to 80.18 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

42.95 TWD 18.40 TWD Fair Value 20.04 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 18.40 TWD – 42.95 TWD · fair‑value band 20.04 TWD – 80.18 TWD · the 25.55 TWD price screens above the 20.04 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

BenQ Materials Corporation (8215) currently trades at 25.55 TWD, while our model-based Fair Value estimate is 20.04 TWD, implying the stock looks roughly 21.6% overvalued today. The Quality Score stands at 28/100 (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: low).

Over the trailing twelve months, BenQ Materials Corporation generated revenue of 17.8B TWD at a net margin of -3.5%. Revenue declined 0.7% year over year. It earns a return on equity of -7.7%. Net debt stands at 10.0B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 20.04 TWD (bear case) to 80.18 TWD (bull case); at 25.55 TWD, the current price sits within 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 24% below its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -22%, 8215 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
Gordon GGM 5.45 TWD 10.85 TWD 16.43 TWD 70
DDM Multi-Stage 5.45 TWD 8.29 TWD 11.21 TWD 61
EV/EBITDA 5.50 TWD 13.41 TWD 21.32 TWD 54
All 4 models by family
Dividend Discount
Gordon GGM 5.45 TWD 10.85 TWD 16.43 TWD 70
DDM Multi-Stage 5.45 TWD 8.29 TWD 11.21 TWD 61
Multiples
EV/EBITDA 5.50 TWD 13.41 TWD 21.32 TWD 54
Asset-Based
NCAV (Graham) 8.00 TWD 10.72 TWD 16.00 TWD 50

Widest divergence: Multiples (13.41 TWD) versus Dividend Discount (8.29 TWD). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 17.8B TWD
Revenue growth (YoY) -0.7%
Net margin -3.5%
Return on equity -7.7%
Free cash flow −1.2B TWD FY2025
Operating margin -5.3%
More key figures
EPS (TTM) -1.14 TWD
Dividend yield 1.1%
EPS growth (YoY) -97.2%
Net debt 10.0B TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 28/100

Of which business quality 27 · Market factors (momentum, volatility) 52

Profitability 19
Margins and returns on capital today
Quality Growth 16
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 9
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 88
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

BenQ Materials Corporation manufactures and sells film sheet products and medical equipment in China, Taiwan, Japan, the United States, and internationally. The company engages in the research and development, manufacturing, and sales of various electronic chemical membrane products.

Full company description

BenQ Materials Corporation manufactures and sells film sheet products and medical equipment in China, Taiwan, Japan, the United States, and internationally. The company engages in the research and development, manufacturing, and sales of various electronic chemical membrane products. It also offers display tech and materials, including polarizer and optical films, touch panels materials, ultra-precision machining products, PDLS smart film displays, and industrial tapes. In addition, the company provides advanced battery materials that includes separator; healthcare products comprising vision care, skin care series, wound management, and medical sterilization packaging; textile products, such as water-proof breathable textiles; and customized materials comprising reactive silicone. The company was formerly known as Daxon Technology Inc. and changed its name to BenQ Materials Corporation in June 2010. BenQ Materials Corporation was incorporated in 1998 and is headquartered in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BenQ Materials Corporation reported revenue of 17.8B TWD in FY2025 versus 16.5B TWD in FY2021, a compound +2.0%/yr. Reported net income was −344M TWD in FY2025.

Growth Quality 13/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
17.8B TWD
Latest YoY
−4.0%
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.
+4.7%
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.
+3.5%
Avg. growth/yr (22Y) 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.
+6.7%
Revenue +2.0%/yr
FY21 16.5B TWD
FY22 15.5B TWD
FY23 17.1B TWD
FY24 18.6B TWD
FY25 17.8B TWD
Net income
FY21 972M TWD
FY22 1.3B TWD
FY23 414M TWD
FY24 199M TWD
FY25 −344M TWD
Character of growth · EPS growth decomposed (2014-2025) −9.8 % p.a.
Revenue per share +1.7 pp

of which total revenue +1.5 pp · buybacks/dilution +0.1 pp

EBIT margin −7.5 pp
Tax rate −2.6 pp
Residual (interest, one-offs) −1.3 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).

8215 screens 22% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "BenQ Materials Corporation Fair Value". https://www.fairvalue-calculator.com/stock/8215

Peer Group

Electronic Components · 627 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 28 · Bottom 25%
Fair Value upside −22% · Above median
Return on assets -2% · Bottom 25%
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) -5% · Bottom 25%
Revenue growth -1% · Below median
Dividend yield (TTM) 1.2% · Below median
Debt / equity 1.30× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.01× · Cheaper than 75% of peers
EV/EBITDA 27.8× · Pricier than median

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 5 · sector 0
FUTURE 0 · sector 32
PAST 0 · sector 24
HEALTH 35 · sector 95
DIVIDEND 25 · 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 21, 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 BenQ Materials Corporation (8215) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 20.04 TWD versus a price of 25.55 TWD, about −22% (overvalued).
What is the fair value of 8215?
Our model-based fair value for BenQ Materials Corporation is 20.04 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 25.55 TWD.
What is the quality score of 8215?
BenQ Materials Corporation has a Quality Score of 28/100. 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 BenQ Materials Corporation (8215)?
BenQ Materials Corporation reported trailing-twelve-month revenue of about 17.8B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 8215?
The net profit margin of BenQ Materials Corporation is about -3.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does BenQ Materials Corporation pay a dividend?
BenQ Materials Corporation currently shows a dividend yield of about 1.05% relative to its recent price (as of Jul 21, 2026).

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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