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ASAAF fair value: what the stock is really worth
As of Oct 2, 2026: fair value of ASAAF $141, price $240, upside -41.1%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Sep 23, 2026
ASAAF
ASAAF · USStretched ValuationStrong overvaluation with only moderate quality.
!Fair value $141.41 · Strongly overvalued (−41.1%)
!Quality 51/100
!Mixed Growth (revenue 5y +8.6 %/yr)
!Loss-making · -1.4% net margin (FY2026)
!High debt · generates free cash flow
!Moderate moat 48/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $12.52 – $261.24 · fair‑value band $85.93 – $213.39 · the $240.00 price screens above the $141.41 fair value. Dashed = 300-day average. As of Sep 23, 2026.
Company profile
AT & S Austria Technologie & Systemtechnik, together with its subsidiaries, manufactures, distributes, and sells printed circuit boards in Austria, Germany, rest of Europe, China, rest of Asia, and the Americas. It operates through Electronics Solutions, Microelectronics, and Others segments.
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AT & S Austria Technologie & Systemtechnik, together with its subsidiaries, manufactures, distributes, and sells printed circuit boards in Austria, Germany, rest of Europe, China, rest of Asia, and the Americas. It operates through Electronics Solutions, Microelectronics, and Others segments. The company offers integrated circuit substrates; printed circuit boards and modules; flexible and rigid-flex, thermally enhanced, high-density interconnect, cavity, ECP, high-frequency and high-speed, multilayer, and double-sided printed circuit boards; and test and reference boards. It also provides Z-Interconnect, ECP, 2.5D, and mSAP technological solutions. In addition, the company offers advanced interconnect solution services, such as product and process simulation consist of warpage simulation, reliability simulation, failure analysis, and heat management; hardware development center, including PCB/substrate layout, technical concepts, data conversion, and drawings; product development services, which include project management, assembly services, and technology consulting; and functional test development, such as test and laboratory services. It distributes its products directly to original equipment and contract electronic manufacturers. The company serves semiconductors, communications, consumer electronics, medical, industrial, aviation, and automotive sectors. AT & S Austria Technologie & Systemtechnik was incorporated in 1987 and is headquartered in Leoben, Austria.
Stock analysis
ASAAF (ASAAF) currently trades at $240.00, while our model-based Fair Value estimate is $141.41, 41.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $126.71 per share, and 0 of the 14 models we run sit above the $240.00 price.
Bear case: the Multiples group reads lowest at $18.51, and 14 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: $85.93 (bear) to $213.39 (bull), the price of $240.00 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 51/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
ASAAF reported revenue of €1.8B in FY2026 versus €1.6B in FY2022, a compound +3.1%/yr. Reported net income was −€25.7M in FY2026.
Key figures
Market cap $8.9B · P/E ratio 62.7 · P/S ratio 5.19 · EPS (TTM) $3.83 · Dividend yield 0.2% · Net margin −1.4% · Return on equity 14.8% · Return on assets (EBIT) 2.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 839% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −64% fair-value upside, at −41%, ASAAF screens cheaper than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($3.76 to $209.25). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear $85.93
Fair Value $141.41
Bull $213.39
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then ($1.95 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.
Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF
$95.73
$164.06
$270.13
78
Growth DCF
$96.14
$161.40
$260.67
77
Owner Earnings
$72.74
$126.71
$210.48
74
All 16 models by family
DCF Models
FCF DCF
$95.73
$164.06
$270.13
78
Owner Earnings
$72.74
$126.71
$210.48
74
5Y Revenue Exit
$32.23
$45.15
$59.66
73
5Y EBITDA Exit
$116.32
$209.25
$321.22
74
10Y Revenue Exit
$53.97
$72.23
$94.27
68
10Y EBITDA Exit
$107.66
$186.20
$297.31
67
Earnings-Based
EPV
n/a
n/a
$0.5300
68
Dividend Discount
Gordon GGM
$4.45
$8.87
$13.44
67
DDM Multi-Stage
$4.45
$7.67
$9.37
67
Multiples
EV/EBIT
$10.47
$18.51
$26.56
64
EV/EBITDA
$142.81
$194.97
$247.14
67
EV/Revenue
n/a
$3.76
$8.99
50
Asset-Based
NCAV (Graham)
$10.23
$13.71
$20.46
54
Growth DCF
Growth DCF
$96.14
$161.40
$260.67
77
Rev-Margin DCF
$32.23
$46.85
$65.18
73
Economic Profit
ROIC Compounder
n/a
n/a
$0.5300
68
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Set up alert →Quality Score breakdown
Overall quality
51/100
Of which business quality 46 · Market factors (momentum, volatility) 74
Profitability
11
Margins and returns on capital today
Quality Growth
41
Are margins and returns improving?
Cashflow
56
Earnings quality: real cash, not paper profit
Fin. Strength
22
Balance sheet, leverage, solvency risk
Investment
78
Disciplined investing over empire-building
Low Volatility
17
Calm price path (market factor)
Momentum
100
Price trend over the last 3–12 months (market factor)
52W Momentum
96
Distance to the 52-week high (market factor)
Net Issuance
100
Share count: buybacks or dilution?
Revenue & earnings trend
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.
73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+13.1%
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.
+0.1%
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.
+8.6%
Start year 2021 (pandemic). Over 10 years: +8.9% a year
Revenue growth 24 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.
+8.1%
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
’26
Profit margin (trend) ⓘ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.
6.7% (2021) → 2.6% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+17.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+17.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +14.8% a year for the price and +15.1% for the forecasts.
Forecast 2027 (sales)+52.4%
Forecast 2028 (sales)+12.1%
Projected 2029 (sales)+10.8%
Projected 2030 (sales)+9.6%
Projected 2031 (sales)+8.3%
ASAAF screens overvalued: fair value 41% below the price. Compare with Amphenol Corporation →
Earlier news
News mood ⓘNews mood, the average tone of recent news (11 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.
Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
- AT&S Austria Technologie & Systemtechnik AG (ASAAF) (Q1 2027) Earnings Call Highlights: ...
- AT&S Austria Technologie & Systemtechnik AG (ASAAF) (Q4 2026) Earnings Call Highlights: ...
- AT&S Austria Technologie & Systemtechnik AG (ASAAF) (Half Year 2026) Earnings Call ...
Compare ASAAF with another stock
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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 · 634 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation Multiplesvs Electronic Components median · lower = cheaper
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
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
Similar stocks
10 more Electronic Components stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Amphenol Corporation APH | $84.30 | $84.44 | +0% |
| Delta Electronics, Inc 2308 | 1,910 TWD | 519.57 TWD | −73% |
| Corning Incorporated GLW | $153.76 | $33.52 | −78% |
| Hon Hai Precision Industry Co 2317 | 250.50 TWD | 293.60 TWD | +17% |
| Samsung Electro-Mechanics Co 009150 | 1,507,000 KRW | 171,572 KRW | −89% |
| TE Connectivity plc TEL | $218.59 | $142.45 | −35% |
| Luxshare Precision Industry Co 002475 | ¥52.00 | ¥18.59 | −64% |
| Elite Material Co 2383 | 5,050 TWD | 787.47 TWD | −84% |
| Shengyi Technology Co 600183 | ¥137.33 | ¥66.42 | −52% |
| Celestica Inc CLS | $373.09 | $106.95 | −71% |
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Frequently asked questions
Is ASAAF overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $141.41 versus a price of $240.00, about −41% upside (overvalued).
What is the fair value of ASAAF?
Our model-based fair value for ASAAF is $141.41 (as of Sep 23, 2026), built from audited fundamentals. The current price: $240.00.
What is the quality score of ASAAF?
ASAAF has a Quality Score of 51/100. 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 ASAAF?
Our model-based price target is the fair value of $141.41 (as of Sep 23, 2026) from 16 valuation models. Cautious scenario $85.93, optimistic scenario $213.39. It is a calculation from audited fundamentals, not an analyst target.
What is the ASAAF stock forecast for 2026?
Our models put fair value at $141.41, about −41% upside versus a price of $240.00 (overvalued). Cautious scenario $85.93, optimistic scenario $213.39. The calculation is refreshed regularly with new filings.
What is the revenue of ASAAF?
ASAAF reported trailing-twelve-month revenue of about €1.7B (latest available figure, as of Sep 23, 2026).
Does ASAAF pay a dividend?
ASAAF currently shows a dividend yield of about 0.20% relative to its recent price (as of Sep 23, 2026).
What growth is priced into ASAAF?
For today's price to be fair in a discounted-cash-flow model, ASAAF would have to grow free cash flow by +17.3 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.6 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of ASAAF use?
Our models discount ASAAF at 10.6 %: a base by market capitalisation (mid), damped by beta 1.37, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ASAAF that is +17.3 % per year a year over ten years, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has ASAAF delivered so far?
Over the past 5 years revenue at ASAAF grew +8.6 % a year. The price currently implies +17.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ASAAF growing?
The median revenue growth in the sector is +9.9 % a year. That is the yardstick for the growth priced into ASAAF (+17.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ASAAF?
The free-cash-flow yield on the price is 4.39 %: that much free cash flow ASAAF produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ASAAF?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ASAAF it is $141.41 per share (as of Sep 23, 2026), against a price of $240.00. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is ASAAF stock overvalued or undervalued in 2026?
As of Sep 23, 2026, ASAAF trades above its calculated fair value: price $240.00, fair value $141.41, a gap of about −41% (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 ASAAF?
No. The price is what the market pays today ($240.00); the fair value is what the company's own numbers justify ($141.41). For ASAAF the two are $98.59 per share apart. That gap is exactly why we show both numbers side by side.
How much is ASAAF worth?
The market values ASAAF at about $8.9B (market capitalisation, as of Sep 23, 2026). Per share that is $240.00; our models calculate a fair value of $141.41 per share.
What do the bullish and bearish scenarios say about ASAAF?
Our models span a range for ASAAF: cautious scenario $85.93, base $141.41, optimistic $213.39 per share (as of Sep 23, 2026, price $240.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ASAAF?
ASAAF trades at a price-to-earnings ratio of 62.7 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $141.41 is built from several models across several years. Other multiples: P/B 12.6, P/S 5.2, EV/EBITDA 13.9.
How solid is the balance sheet of ASAAF?
Balance-sheet figures for ASAAF (as of Sep 23, 2026): return on equity 14.8%, debt of 1.72 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is ASAAF from its 52-week high?
ASAAF trades at $240.00, about 8% below its 52-week high of $261.24 and 839% above the low of $25.56 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $141.41 is for.
Which stocks are comparable to ASAAF?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Corning Incorporated, Hon Hai Precision Industry Co, 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 ASAAF stock attractive at the current price?
The data as of Sep 23, 2026: price $240.00, calculated fair value $141.41 (−41%), Quality Score 51/100, from 16 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 ASAAF calculated?
We run ASAAF through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $141.41, 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 14.5 % above its aggregate fair value. ASAAF 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 ASAAF?
The closing price on Oct 2, 2026 was $240.00. Our model-based fair value is $141.41, about −41% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ASAAF right now?
The price sits above even our optimistic bull case ($213.39). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($85.93 to $213.39) leaves room in how you read the outcome.
Key figures of ASAAF
How large is the market capitalisation of ASAAF?
The market capitalisation of ASAAF is $8.9B. 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 ASAAF?
The price-to-sales ratio of ASAAF is 5.19 (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 ASAAF?
Earnings per share at ASAAF are $3.83 (price ÷ EPS = P/E 62.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ASAAF?
The dividend yield of ASAAF is 0.2% (payout 12.4%). 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 ASAAF?
The net margin of ASAAF is −1.4% (fiscal year 2026). 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 ASAAF?
The return on equity (ROE) of ASAAF is 14.8% (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 ASAAF?
On an EBIT basis the return on assets of ASAAF is 2.9% (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.
How fast is revenue growing at ASAAF?
Revenue at ASAAF is growing +17.9% versus a year earlier (3y avg +0.1%). 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 ASAAF?
Earnings per share at ASAAF are growing +100% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ASAAF carry?
The net debt of ASAAF is €1.8B (fiscal year 2026, ≈ 8.1 yrs of FCF). 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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