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Aero Win Technology Corporation (8222) Fair Value & Analysis

Industrials · TW · Market cap 2.6B TWD

AW Aero Win Technology Corporation 8222 · TW
Price38.00 TWD
Fair Value9.28 TWD
Upside-75.6%
Quality38/100
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Expensive Growth
Thin margins · 4.4% net margin
Moderate debt · negative free cash flow
0.88% dividend yield
Trails peers (3/13)
Narrow moat 35/100
Evidence: High Range 8.35 TWD – 11.60 TWD Share as image

Fair value as of: Jul 23, 2026

From 17 valuation models · updated 18 days ago

Share price −4.2% over the past month.

Below-average quality, and screening another 76% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (11.60 TWD). The favourable scenario is already priced in.
  • Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

66.80 TWD 11.70 TWD Fair Value 9.28 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 11.70 TWD – 66.80 TWD · fair‑value band 8.35 TWD – 11.60 TWD · the 38.00 TWD price screens above the 9.28 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Aero Win Technology Corporation (8222) currently trades at 38.00 TWD, while our model-based Fair Value estimate is 9.28 TWD, implying the stock looks roughly 75.6% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Industrials 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, Aero Win Technology Corporation generated revenue of 942M TWD at a net margin of 4.4%. Revenue declined 7.5% year over year. It earns a return on equity of 4.5%. Net debt stands at 890M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 8.35 TWD (bear case) to 11.60 TWD (bull case); at 38.00 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 37% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -76%, 8222 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (0.5700 TWD to 20.26 TWD). Read the values as a conservative anchor, not as a price target.
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 9.79 TWD 9.82 TWD 8.94 TWD 76
ROIC Compounder 0.5700 TWD 1.60 TWD 72
Gordon GGM 6.15 TWD 12.25 TWD 18.55 TWD 70
All 17 models by family
DCF Models
Owner Earnings 0.8400 TWD 6.75 TWD 31
Earnings-Based
Graham-Dodd 3.71 TWD 15.46 TWD 21.08 TWD 54
Lynch FV 3.91 TWD 5.59 TWD 7.26 TWD 50
PEG = 1.0 3.91 TWD 5.59 TWD 7.26 TWD 46
EPV 0.5700 TWD 1.60 TWD 59
Dividend Discount
Gordon GGM 6.15 TWD 12.25 TWD 18.55 TWD 70
DDM Multi-Stage 6.15 TWD 10.59 TWD 12.93 TWD 61
Multiples
P/E Multiple 8.60 TWD 11.47 TWD 14.33 TWD 63
P/S Multiple 6.96 TWD 9.28 TWD 11.60 TWD 58
P/B Multiple 6.96 TWD 9.28 TWD 11.60 TWD 55
EV/EBIT 3.60 TWD 7.53 TWD 11.46 TWD 53
EV/EBITDA 13.15 TWD 20.26 TWD 27.38 TWD 54
EV/Revenue 0.2300 TWD 3.83 TWD 7.44 TWD 43
Asset-Based
NCAV (Graham) 6.57 TWD 8.80 TWD 13.14 TWD 50
Economic Profit
Residual Income 9.79 TWD 9.82 TWD 8.94 TWD 76
ROIC Compounder 0.5700 TWD 1.60 TWD 72
Growth Earnings
Growth-Adj P/E 6.68 TWD 9.55 TWD 12.41 TWD 68

Widest divergence: Dividend Discount (10.59 TWD) versus Economic Profit (0.5700 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 942M TWD
Revenue growth (YoY) -7.5%
Net margin 4.4%
Return on equity 4.5%
Free cash flow −78.3M TWD FY2025
P/E ratio 62.8
More key figures
Operating margin 13.0%
EPS (TTM) 0.5500 TWD
EPS growth (YoY) +20.0%
Net debt 890M TWD FY2025

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

Quality Score breakdown

Overall quality 38/100

Of which business quality 36 · Market factors (momentum, volatility) 38

Profitability 24
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 82
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

Aero Win Technology Corporation manufactures various products for the aviation industry in Taiwan and internationally. The company offers super alloy sheet metal and machining parts assemblies, including oil collectors, plenum air inlets, rear and front flanges, oil cover inlets, SAGB casings, and bearing supports; and super alloy sheet metal forming parts, …

Full company description

Aero Win Technology Corporation manufactures various products for the aviation industry in Taiwan and internationally. The company offers super alloy sheet metal and machining parts assemblies, including oil collectors, plenum air inlets, rear and front flanges, oil cover inlets, SAGB casings, and bearing supports; and super alloy sheet metal forming parts, such as cooling inserts of vane, brackets, and combustion liners. It also offers super alloy forging precision machining parts comprising combustion chamber liners, inner and outer rings for stators, flanges for stators, curvic ring assemblies, inlet housings, and diffuser cases. Aero Win Technology Corporation was founded in 1974 and is based in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Aero Win Technology Corporation reported revenue of 961M TWD in FY2025 versus 352M TWD in FY2021, a compound +28.6%/yr. Reported net income was 37.4M TWD in FY2025.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
961M TWD
Latest YoY
+16.6%
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.
+28.8%
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.
+19.3%
Avg. growth/yr (13Y) 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.
+2.1%
Revenue +28.6%/yr
FY21 352M TWD
FY22 450M TWD
FY23 684M TWD
FY24 824M TWD
FY25 961M TWD
Net income
FY21 −103M TWD
FY22 13.0M TWD
FY23 60.6M TWD
FY24 102M TWD
FY25 37.4M TWD
Character of growth · EPS growth decomposed (2014-2025) −0.3 % p.a.
Revenue per share −0.8 pp

of which total revenue −0.4 pp · buybacks/dilution −0.4 pp

EBIT margin −2.7 pp
Tax rate −1.4 pp
Residual (interest, one-offs) +4.6 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).

8222 screens 76% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "Aero Win Technology Corporation Fair Value". https://www.fairvalue-calculator.com/stock/8222

Peer Group

Aerospace & Defense · 226 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 38 · Bottom 25%
Fair Value upside −76% · Bottom 25%
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 13% · Above median
Revenue growth -8% · Bottom 25%
Dividend yield (TTM) 0.9% · Above median
Debt / equity 0.82× · Higher than 75% of peers

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/E (TTM) 69.9× · Pricier than 75% of peers
P/B 2.93× · Cheaper than median
P/S (TTM) 2.80× · Pricier than median
EV/EBITDA 21.2× · 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 0 · sector 0
FUTURE 0 · sector 46
PAST 18 · sector 38
HEALTH 59 · sector 94
DIVIDEND 18 · sector 15

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.

Weapons Defense

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $381.22 $116.71 -69%
RTX Corporation RTX $195.93 $88.37 -55%
Airbus SE 1AIR €213.25 €86.20 -60%
The Boeing Company BA $217.11 $48.20 -78%
China CSSC Holdings 600150 ¥34.31 ¥21.90 -36%
HD Hyundai Heavy Industries Co 329180 466,000 KRW 272,966 KRW -41%
Hanwha Aerospace Co 012450 967,000 KRW 573,468 KRW -41%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 337.50 TRY 130.70 TRY -61%
Saab AB SAABB kr 520.40 kr 212.84 -59%
Kongsberg Gruppen ASA KOG kr 277.50 kr 106.93 -61%

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Frequently asked questions

Is Aero Win Technology Corporation (8222) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 9.28 TWD versus a price of 38.00 TWD, about −76% (overvalued).
What is the fair value of 8222?
Our model-based fair value for Aero Win Technology Corporation is 9.28 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 38.00 TWD.
What is the quality score of 8222?
Aero Win Technology Corporation has a Quality Score of 38/100. 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 Aero Win Technology Corporation (8222)?
Aero Win Technology Corporation reported trailing-twelve-month revenue of about 942M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 8222?
The net profit margin of Aero Win Technology Corporation is about 4.4%, meaning it keeps roughly 4.4% 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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