Advantest Corporation (ATEYY) Fair Value & Analysis
Technology · US · Market cap $140B
Advantest Corporation
ATEYY · US
Fair value as of: Jul 14, 2026
From 26 valuation models · updated 27 days ago
Share price +16.4% over the past month.
A strong business, but screening 68% overvalued on our models.
What matters now
- A high-quality business (quality 88/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case ($152.81). The favourable scenario is already priced in.
- The model range is unusually wide ($46.84 to $152.81). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.
How to read this chart
60‑month range $11.21 – $216.24 · fair‑value band $46.84 – $152.81 · the $206.50 price screens above the $66.32 fair value. Dashed = 300-day average. As of Jul 14, 2026.
Analysis
Advantest Corporation (ATEYY) currently trades at $206.50, while our model-based Fair Value estimate is $66.32, implying the stock looks roughly 67.9% overvalued today. The Quality Score stands at 88/100 (high 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, Advantest Corporation generated revenue of $1.1T at a net margin of 33.3%. Revenue grew 41.2% year over year. It earns a return on equity of 57.7%. The balance sheet holds a net cash position of $321B. Fundamentals as of Jul 14, 2026
Our scenario range runs from $46.84 (bear case) to $152.81 (bull case); at $206.50, 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 near its 52-week high and 219% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -68%, ATEYY 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.
All 26 models by family
Widest divergence: Growth Earnings ($144.11) versus Asset-Based ($4.30). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 86 · Market factors (momentum, volatility) 68
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
Advantest Corporation, together with its subsidiaries, manufactures and sells semiconductors, component test systems, and mechatronics-related products in Japan, rest of Asia, the Americas, and Europe.
Full company description
Advantest Corporation, together with its subsidiaries, manufactures and sells semiconductors, component test systems, and mechatronics-related products in Japan, rest of Asia, the Americas, and Europe. The company offers automated test equipment, including system on chip, power device, and memory test systems, as well as burn-in and SSD test systems; and metrology and SEM tools. It also provides component test systems, such as die level, SoC, and memory test handlers, as well as change kits, and pressure sensor stimulus; device interface for memory; test cell and automation solutions; system level test systems; device certification test systems; semiconductor failure analysis systems; and interconnect solutions, including test interface boards, substrates, test sockets, and thermal control units. In addition, the company offers cloud solutions comprising digital twin software, real-time data infrastructure, dynamic parametric test, and test engineering; and SiConic offerings, such as tackling modern silicon validation challenges, applications from bring-up to sign-off, explorer, link, empower test engineers within unified environment, and scalable ecosystem. Further, it provides system level testing for products, maintenance and support, consumables and used products sales, equipment leasing, and research and development services; consulting and solution services, including engineering, production ramp, production solution, and remote support; customer service agreement and uptime support services; and online customer training. The company was formerly known as Takeda Riken Kogyo Co., Ltd. and changed its name to Advantest Corporation in October 1985. Advantest Corporation was incorporated in 1946 and is headquartered in Chiyoda, Japan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Advantest Corporation reported revenue of $1.2T in FY2026 versus $417B in FY2022, a compound +30.2%/yr. Reported net income was $398B in FY2026, compounding +46.1%/yr from FY2022.
ATEYY screens 68% overvalued. Compare with ASML Holding →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Advantest (TSE:6857) Stock Trades About Right As SiConic DFT Expands
- Advantest (TSE:6857) Expands SiConic With A New DFT Engineering Environment
- Is Advantest (ATEYY) Stock Outpacing Its Computer and Technology Peers This Year?
Peer Group
Semiconductor Equipment & Materials · 211 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.
Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper
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: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | C$50.50 | C$15.57 | -69% |
| Applied Materials, Inc AMAT | $579.43 | $143.08 | -75% |
| Lam Research Corporation LRCX | $346.10 | $67.57 | -80% |
| KLA Corporation KLAC | $212.75 | $53.01 | -75% |
| NAURA Technology Group 002371 | ¥774.20 | ¥151.43 | -80% |
| Advanced Micro-Fabrication Equipment Inc 688012 | ¥350.69 | ¥41.79 | -88% |
| Piotech Inc 688072 | ¥832.00 | ¥431.44 | -48% |
| Hon. Precision, Inc 7769 | 6,005 TWD | 1,804 TWD | -70% |
| Hangzhou Changchuan Technology Co 300604 | ¥325.24 | ¥33.33 | -90% |
| MPI Corporation 6223 | 5,600 TWD | 609.44 TWD | -89% |
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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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