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NEXCOM International Co (8234) Fair Value & Analysis

Technology · TW · Market cap 9.1B TWD

NI NEXCOM International Co 8234 · TWO
Price73.80 TWD
Fair Value6.57 TWD
Upside-91.1%
Quality57/100
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Weak Growth
Loss-making · -1.7% net margin
Low debt · generates free cash flow
0.63% dividend yield
Trails peers (4/13)
Narrow moat 22/100
Evidence: High Range 5.66 TWD – 8.21 TWD Share as image

Fair value as of: Jul 23, 2026

From 23 valuation models · updated 18 days ago

Share price +3.5% over the past month.

A solid business, but screening 91% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (8.21 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

116.50 TWD 20.07 TWD Fair Value 6.57 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 20.07 TWD – 116.50 TWD · fair‑value band 5.66 TWD – 8.21 TWD · the 73.80 TWD price screens above the 6.57 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

Full chart & analysis →

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Analysis

NEXCOM International Co (8234) currently trades at 73.80 TWD, while our model-based Fair Value estimate is 6.57 TWD, implying the stock looks roughly 91.1% overvalued today. The Quality Score stands at 57/100 (solid 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, NEXCOM International Co generated revenue of 5.2B TWD at a net margin of -1.7%. Revenue declined 30.5% year over year. It earns a return on equity of -3.2%. Net debt stands at 326M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 5.66 TWD (bear case) to 8.21 TWD (bull case); at 73.80 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 40% below its 52-week high and 27% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -91%, 8234 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 (3.21 TWD to 26.96 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
Growth DCF 5.88 TWD 5.95 TWD 6.08 TWD 80
Residual Income 15.19 TWD 14.51 TWD 11.12 TWD 76
ROIC Compounder 6.69 TWD 6.86 TWD 7.00 TWD 72
All 23 models by family
DCF Models
FCF DCF 5.87 TWD 5.95 TWD 6.09 TWD 38
Owner Earnings 12.05 TWD 14.38 TWD 18.58 TWD 31
5Y Revenue Exit 6.89 TWD 7.73 TWD 8.96 TWD 39
5Y EBITDA Exit 13.96 TWD 19.97 TWD 27.93 TWD 41
5Y P/E Exit 8.73 TWD 10.91 TWD 13.50 TWD 38
10Y Revenue Exit 6.42 TWD 7.00 TWD 7.64 TWD 36
10Y EBITDA Exit 10.67 TWD 14.40 TWD 18.53 TWD 37
10Y P/E Exit 7.56 TWD 8.92 TWD 10.25 TWD 35
Earnings-Based
Graham-Dodd 2.63 TWD 3.21 TWD 3.61 TWD 54
EPV 6.69 TWD 6.86 TWD 7.00 TWD 59
Dividend Discount
Gordon GGM 5.27 TWD 5.74 TWD 6.46 TWD 70
DDM Multi-Stage 5.27 TWD 6.51 TWD 8.21 TWD 61
Multiples
P/E Multiple 5.80 TWD 7.73 TWD 9.66 TWD 63
P/S Multiple 4.93 TWD 6.57 TWD 8.21 TWD 58
P/B Multiple 4.93 TWD 6.57 TWD 8.21 TWD 55
EV/EBIT 8.74 TWD 9.76 TWD 10.79 TWD 53
EV/EBITDA 21.64 TWD 26.96 TWD 32.29 TWD 54
EV/Revenue 7.73 TWD 8.62 TWD 9.51 TWD 43
Asset-Based
NCAV (Graham) 10.95 TWD 14.67 TWD 21.89 TWD 50
Growth DCF
Growth DCF 5.88 TWD 5.95 TWD 6.08 TWD 80
Economic Profit
Residual Income 15.19 TWD 14.51 TWD 11.12 TWD 76
ROIC Compounder 6.69 TWD 6.86 TWD 7.00 TWD 72
Growth Earnings
Growth-Adj P/E 4.10 TWD 5.86 TWD 7.62 TWD 68

Widest divergence: Asset-Based (14.67 TWD) versus Earnings-Based (3.21 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 5.2B TWD
Revenue growth (YoY) -30.5%
Net margin -1.7%
Return on equity -3.2%
Free cash flow 3.2M TWD FY2025
P/E ratio 163.8
More key figures
Operating margin -7.5%
EPS (TTM) 0.3900 TWD
EPS growth (YoY) -87.3%
Net debt 326M TWD FY2025

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 56 · Market factors (momentum, volatility) 38

Profitability 34
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 24
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

NEXCOM International Co., Ltd., together with its subsidiaries, engages in providing Internet of Things (IoT) automation, intelligent video surveillance, smart city, mobile computing, medical and healthcare informatics, and network and communication solutions.

Full company description

NEXCOM International Co., Ltd., together with its subsidiaries, engages in providing Internet of Things (IoT) automation, intelligent video surveillance, smart city, mobile computing, medical and healthcare informatics, and network and communication solutions. It offers IoT automation solutions, such as embedded computing, machine automation, PC-based factory automation, panel PC, and software solutions, industrial fanless, industrial rackmount, and marine computers; intelligent platform solutions for smart cities, including embedded computing boards, fanless edge computing systems, interactive signage solution packs, intelligent service kiosks, and POS solutions, as well as edge AI, visual edge, and embedded touchscreen computers; and intelligent video surveillance solutions comprising network cameras and NVR hardware platform. It also provides mobile computing solutions that include vehicle telematics computer, railway computer, edge AI telematics solution, vehicle mount computer, vehicle mount display, rating computer/display, in-vehicle networking, pis solution, telematics solution with android, embedded add-on module/card, universal fitness console, and railway panel computer; and network and communication solutions, which comprise cybersecurity, edge and cloud, OT security, and network peripheral solutions, SoC capability and S/W services. In addition, it offers industrial wireless solutions, remote network management products, and embedded computing; and medical and healthcare informatics, such as embedded boards, vertical applications, video conference systems, software packages, and healthcare and medical solutions; and sales and purchase of computers and peripherals, and design and development of computer software. It serves Taiwan, Sweden, South Korea, the Netherlands, Israel, Norway, China, the United Kingdom, Japan, Germany, Ireland, the United States, and internationally. The company was incorporated in 1992 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NEXCOM International Co reported revenue of 5.7B TWD in FY2025 versus 6.8B TWD in FY2021, a compound −4.2%/yr. Reported net income was 54.6M TWD in FY2025, compounding −21.2%/yr from FY2021.

Growth Quality 32/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
5.7B TWD
Latest YoY
+5.2%
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.
−10.4%
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.
−3.2%
Avg. growth/yr (8Y) 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.
−1.4%
Revenue −4.2%/yr
FY21 6.8B TWD
FY22 7.9B TWD
FY23 5.8B TWD
FY24 5.4B TWD
FY25 5.7B TWD
Net income −21.2%/yr
FY21 142M TWD
FY22 902M TWD
FY23 179M TWD
FY24 84.9M TWD
FY25 54.6M TWD

8234 screens 91% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "NEXCOM International Co Fair Value". https://www.fairvalue-calculator.com/stock/8234

Peer Group

Computer Hardware · 215 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 57 · Above median
Fair Value upside −91% · Bottom 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) -7% · Bottom 25%
Revenue growth -31% · Bottom 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 165.9× · Pricier than 75% of peers
P/B 0.09× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
P/FCF 87.8× · Pricier 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 0 · sector 0
FUTURE 0 · sector 57
PAST 0 · sector 26
HEALTH 100 · sector 97
DIVIDEND 13 · sector 44

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.

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

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is NEXCOM International Co (8234) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 6.57 TWD versus a price of 73.80 TWD, about −91% (overvalued).
What is the fair value of 8234?
Our model-based fair value for NEXCOM International Co is 6.57 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 73.80 TWD.
What is the quality score of 8234?
NEXCOM International Co has a Quality Score of 57/100. 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 NEXCOM International Co (8234)?
NEXCOM International Co reported trailing-twelve-month revenue of about 5.2B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 8234?
The net profit margin of NEXCOM International Co is about -1.7%, meaning it is currently running at a net loss. 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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