Top Bright Holding Co Ltd (8499) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Top Bright Holding Co Ltd stock TWD 140, price TWD 206, that is 32.1% below the price, quality 45 out of 100. Rating: overvalued. Calculated from audited financials with 17 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 5, 2026.
How to read this chart
60‑month range 112.00 TWD – 398.00 TWD · fair‑value band 139.97 TWD – 144.82 TWD · the 206.00 TWD price screens above the 139.97 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Top Bright Holding Co., Ltd. engages in the research, development, manufacture, and sale of weighing instruments and electronic materials in China, Asia, Europe, and the Americas. It operates through Electronic Materials Department and Weighing Instruments Department segments.
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The company offers price forklift scales, medical scales, smart weighing systems, smart cash register scale, smart barcode scales, smart industrial scales, intelligent weighing instruments, traceability scales, traditional pricing scales, precision balances, traditional weighing scales, traditional counting scales, weighing indicators, electronic crane scale, electronic floor scale, electronic platform scales, and peripheral accessories, as well as weighing application software development used in retail, commercial, industrial, laboratory, and healthcare fields.
It also provides conductive tape, conductive foams, ferrite series, absorbing materials, conductive films, conductive shielding net, insulation tapes, shock-absorbing sealing materials, and thermal interface materials used in electronic equipment in various industries consumer electronics, such as mobiles, computers, and tablets; and cables, such as high voltage cables and wires, as well as transportation, automobile, and apparel industries.
Top Bright Holding Co., Ltd. was founded in 1967 and is headquartered in Grand Cayman, the Cayman Islands.
Stock analysis
Top Bright Holding Co Ltd (8499) currently trades at 206.00 TWD, while our model-based Fair Value estimate is 139.97 TWD, 32% 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 232.20 TWD per share, and 5 of the 17 models we run sit above the 206.00 TWD price.
Bear case: the DCF Models group reads lowest at 51.93 TWD, and 12 of the 17 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 139.97 TWD (bear) to 144.82 TWD (bull), the price of 206.00 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.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Top Bright Holding Co Ltd reported revenue of 2.9B TWD in FY2025 versus 2.7B TWD in FY2021, a compound +2.3%/yr. Reported net income was 418M TWD in FY2025, compounding −13.1%/yr from FY2021.
Key figures
Market cap 13.3B TWD (≈ $405M) Small · P/E ratio 19.4 · P/S ratio 2.23 · EPS (TTM) 10.63 TWD · Dividend yield 3.9% · Net margin 11.5% · Return on equity 6.2% · Return on assets (EBIT) 8.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 48% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at −32%, 8499 screens richer than that median.
Fair Value models
Bear139.97 TWDFair Value 139.97 TWDBull144.82 TWD
Price 206.00 TWD · Downside -32.1%
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 (2.26 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.40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+42.9%
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.
+8.0%
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.
+4.3%
Start year 2020 (pandemic). Over 10 years: +7.2% a year
Revenue growth 11 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.
+6.6%
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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. Basis: EBIT basis. 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.
−7.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−10.9%
Dividend (yield on the price)3.9%
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.−14.9% vs −1.3%, 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.35% → 23%
Compare Top Bright Holding Co Ltd with another stock
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.Electronic Components · 653 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−32.1% · Above median
Profitability
Return on equity (12 months)6.2% · Below median
Return on assets4.1% · Above median
Net margin (12 months)18.1% · Top 25%
Operating margin (12 months)11.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)98.8% · Top 25%
Dividend yield (12 months)3.9% · Top 25%
Balance sheet
Debt / equity0.15× · Above median
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (12 months)19.4× · Cheaper than median
P/B1.62× · Cheaper than median
P/S (12 months)5.49× · Priciest 25%
EV/EBITDA21.0× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 70
PAST (return on equity)25· sector 28
HEALTH (low debt)93· sector 95
DIVIDEND (yield)78· sector 27
VALUE 0: the price sits above our fair-value range.
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). "Top Bright Holding Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8499
Frequently asked questions
Is Top Bright Holding Co Ltd (8499) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 139.97 TWD versus a price of 206.00 TWD, about 32% lower (overvalued).
What is the fair value of 8499?
Our model-based fair value for Top Bright Holding Co Ltd is 139.97 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 206.00 TWD.
What is the quality score of 8499?
Top Bright Holding Co Ltd 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 Top Bright Holding Co Ltd (8499)?
Our model-based price target is the fair value of 139.97 TWD (as of Nov 5, 2026) from 17 valuation models. Cautious scenario 139.97 TWD, optimistic scenario 144.82 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Top Bright Holding Co Ltd stock forecast for 2026?
Our models put fair value at 139.97 TWD, about 32% lower versus a price of 206.00 TWD (overvalued). Cautious scenario 139.97 TWD, optimistic scenario 144.82 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Top Bright Holding Co Ltd (8499)?
Top Bright Holding Co Ltd reported trailing-twelve-month revenue of about 3.8B TWD (latest available figure, as of Nov 5, 2026).
Does Top Bright Holding Co Ltd pay a dividend?
Top Bright Holding Co Ltd currently shows a dividend yield of 3.88% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Top Bright Holding Co Ltd (8499) and when is the ex-dividend date?
Top Bright Holding Co Ltd pays a dividend of 8.00 TWD per share a year, a dividend yield of 3.9%. The last ex-dividend date was Jul 9, 2026. The payout ratio is 75.3% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Top Bright Holding Co Ltd (8499)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Top Bright Holding Co Ltd it is 139.97 TWD per share (as of Nov 5, 2026), against a price of 206.00 TWD. It is the blended result of 17 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Top Bright Holding Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 8499 trades above its calculated fair value: price 206.00 TWD, fair value 139.97 TWD, a gap of about −32% (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 8499?
No. The price is what the market pays today (206.00 TWD); the fair value is what the company's own numbers justify (139.97 TWD). For Top Bright Holding Co Ltd the two are 66.03 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Top Bright Holding Co Ltd worth?
The market values Top Bright Holding Co Ltd at about 13.3B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 206.00 TWD; our models calculate a fair value of 139.97 TWD per share.
What do the bullish and bearish scenarios say about 8499?
Our models span a range for Top Bright Holding Co Ltd: cautious scenario 139.97 TWD, base 139.97 TWD, optimistic 144.82 TWD per share (as of Nov 5, 2026, price 206.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8499?
Top Bright Holding Co Ltd trades at a price-to-earnings ratio of 19.4 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 139.97 TWD is built from several models across several years. Other multiples: P/B 1.6, P/S 5.5, EV/EBITDA 21.0.
How solid is the balance sheet of Top Bright Holding Co Ltd (8499)?
Balance-sheet figures for Top Bright Holding Co Ltd (as of Nov 5, 2026): return on equity 6.2%, debt of 0.15 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 8499 from its 52-week high?
Top Bright Holding Co Ltd trades at 206.00 TWD, about 48% below its 52-week high of 398.00 TWD and 7% above the low of 192.00 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 139.97 TWD is for.
Which stocks are comparable to Top Bright Holding Co Ltd?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, Inc, 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 Top Bright Holding Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 206.00 TWD, calculated fair value 139.97 TWD (−32%), Quality Score 45/100, from 17 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 8499 calculated?
We run Top Bright Holding Co Ltd through 17 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 139.97 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. Top Bright Holding Co Ltd 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 Top Bright Holding Co Ltd (8499)?
The closing price on Nov 9, 2026 was 206.00 TWD. Our model-based fair value is 139.97 TWD, about 32% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Top Bright Holding Co Ltd right now?
The price sits above even our optimistic bull case (144.82 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 models converge in a tight band (139.97 TWD to 144.82 TWD), unusually little disagreement for a valuation.
Where does the earnings growth of Top Bright Holding Co Ltd (8499) come from?
Earnings per share at Top Bright Holding Co Ltd grew +0.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.8 %, EBIT margin −3.9 %, tax rate +0.4 %, residual (interest, one-offs) +2.2 %. 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 Top Bright Holding Co Ltd
How large is the market capitalisation of Top Bright Holding Co Ltd (8499)?
The market capitalisation of Top Bright Holding Co Ltd is 13.3B TWD (≈ $405M). 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 Top Bright Holding Co Ltd (8499)?
The price-to-sales ratio of Top Bright Holding Co Ltd is 2.23 (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 Top Bright Holding Co Ltd (8499)?
Earnings per share at Top Bright Holding Co Ltd are 10.63 TWD (price ÷ EPS = P/E 19.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Top Bright Holding Co Ltd (8499)?
The dividend yield of Top Bright Holding Co Ltd is 3.9% (payout 75.3%). 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 Top Bright Holding Co Ltd (8499)?
The net margin of Top Bright Holding Co Ltd is 11.5% (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 Top Bright Holding Co Ltd (8499)?
The return on equity (ROE) of Top Bright Holding Co Ltd is 6.2% (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 Top Bright Holding Co Ltd (8499)?
On an EBIT basis the return on assets of Top Bright Holding Co Ltd is 8.3% (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 Top Bright Holding Co Ltd (8499)?
The operating margin of Top Bright Holding Co Ltd is 11.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Top Bright Holding Co Ltd (8499)?
Revenue at Top Bright Holding Co Ltd is growing +98.8% versus a year earlier (3y avg +8.0%). 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 Top Bright Holding Co Ltd (8499)?
Earnings per share at Top Bright Holding Co Ltd are growing +100% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Top Bright Holding Co Ltd (8499) generate?
The free cash flow of Top Bright Holding Co Ltd is −15.5M 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 debt does Top Bright Holding Co Ltd (8499) carry?
The net debt of Top Bright Holding Co Ltd is 606M TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 5, 2026