V Technology Co. Ltd (VCHYF) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of V Technology Co. Ltd $14.93, price $38.73, upside -61.5%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 $14.49 – $165.45 · fair‑value band $14.24 – $18.66 · the $38.73 price screens above the $14.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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V Technology Co., Ltd. engages in the development, manufacture, sale, and service of equipment for flat panel displays (FPDs) and semiconductors in Japan. The company offers manufacturing and inspection equipment for the inspection, repair, and measurement of FPDs.
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V Technology Co., Ltd. engages in the development, manufacture, sale, and service of equipment for flat panel displays (FPDs) and semiconductors in Japan. The company offers manufacturing and inspection equipment for the inspection, repair, and measurement of FPDs. It also provides photomask equipment; and parts and materials for manufacturing FPDs, as well as maintenance, staffing, and salvage services. In addition, the company offers wafer inspection equipment and probers for MRAM. The company was incorporated in 1997 and is headquartered in Yokohama, Japan.
Stock analysis
V Technology Co. Ltd (VCHYF) currently trades at $38.73, while our model-based Fair Value estimate is $14.93, implying the stock looks roughly 159.4% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $30.84 per share, and 4 of the 22 models we run sit above the $38.73 price.
Bear case: the Earnings-Based group reads lowest at $4.67, and 18 of the 22 models stay below the price. Evidence for this calculation is high.
Scenario range: $14.24 (bear) to $18.66 (bull), the price of $38.73 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 69/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
V Technology Co. Ltd reported revenue of ¥46.2B in FY2025 versus ¥55.2B in FY2021, a compound −4.4%/yr. Reported net income was ¥800M in FY2025, compounding −30.9%/yr from FY2021.
Key figures
Market cap $366M · P/E ratio 25.6 · P/S ratio 0.44 · EPS (TTM) $1.51 · Dividend yield 1.4% · Net margin 1.7% · Return on equity 6.8% · Return on assets (EBIT) 4.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 92% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at −61%, VCHYF screens richer than that median.
Fair Value models
Bear $14.24Fair Value $14.93Bull $18.66
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.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 ⓘ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.
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
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+23.7%
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.
−3.5%
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.
−3.2%
Start year 2020 (pandemic). Over 10 years: +10.9% a year
Revenue growth 10 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.
+10.9%
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What shareholders gained per year (last 5 years), in JPY ⓘ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. Measured in JPY: 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.
−23.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−24.8%
Dividend (yield on the price)1.4%
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.11% → 4%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+6.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +4.4% a year for the price.
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.Specialty Industrial Machinery · 828 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside−62% · Below median
Profitability
Return on equity (TTM)7% · Below median
Return on assets3% · Above median
Net margin (TTM)4% · Below median
Operating margin (TTM)15% · Top 25%
Growth and dividend
Revenue growth46% · Top 25%
Dividend yield (TTM)1.4% · Above median
Balance sheet
Debt / equity0.42× · Highest 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
P/E (TTM)25.6× · Cheaper than median
P/B1.73× · Cheaper than median
P/S (TTM)1.10× · Cheaper than median
P/FCF0.1× · Cheapest 25%
EV/EBITDA9.7× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 22
PAST (return on equity)27· sector 28
HEALTH (low debt)79· sector 96
DIVIDEND (yield)27· sector 25
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.
Is V Technology Co. Ltd (VCHYF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $14.93 versus the last price from Sep 18, 2026 of $38.73, about −61% upside (overvalued).
What is the fair value of VCHYF?
Our model-based fair value for V Technology Co. Ltd is $14.93 (as of Sep 23, 2026), built from audited fundamentals. Last price (from Sep 18, 2026): $38.73.
What is the quality score of VCHYF?
V Technology Co. Ltd has a Quality Score of 69/100. 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 V Technology Co. Ltd (VCHYF)?
Our model-based price target is the fair value of $14.93 (as of Sep 23, 2026) from 22 valuation models. Cautious scenario $14.24, optimistic scenario $18.66. It is a calculation from audited fundamentals, not an analyst target.
What is the V Technology Co. Ltd stock forecast for 2026?
Our models put fair value at $14.93, about −61% upside versus the last price from Sep 18, 2026 of $38.73 (overvalued). Cautious scenario $14.24, optimistic scenario $18.66. The calculation is refreshed regularly with new filings.
What is the revenue of V Technology Co. Ltd (VCHYF)?
V Technology Co. Ltd reported trailing-twelve-month revenue of about ¥53.0B (latest available figure, as of Sep 23, 2026).
Does V Technology Co. Ltd pay a dividend?
V Technology Co. Ltd currently shows a dividend yield of about 1.36% relative to its recent price (as of Sep 23, 2026).
What growth is priced into V Technology Co. Ltd (VCHYF)?
For today's price to be fair in a discounted-cash-flow model, V Technology Co. Ltd would have to grow free cash flow by +6.6 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -3.2 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of VCHYF use?
Our models discount V Technology Co. Ltd at 12.6 %: a base by market capitalisation (small), damped by beta 1.49, 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 V Technology Co. Ltd that is +6.6 % per year a year over ten years, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has V Technology Co. Ltd (VCHYF) delivered so far?
Over the past 5 years revenue at V Technology Co. Ltd grew -3.2 % a year. The price currently implies +6.6 % 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 V Technology Co. Ltd (VCHYF) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into V Technology Co. Ltd (+6.6 % 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 V Technology Co. Ltd (VCHYF)?
The free-cash-flow yield on the price is 7.42 %: that much free cash flow V Technology Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of V Technology Co. Ltd (VCHYF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For V Technology Co. Ltd it is $14.93 per share (as of Sep 23, 2026), against a price of $38.73. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is V Technology Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, VCHYF trades above its calculated fair value: price $38.73, fair value $14.93, a gap of about −61% (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 VCHYF?
No. The price is what the market pays today ($38.73); the fair value is what the company's own numbers justify ($14.93). For V Technology Co. Ltd the two are $23.80 per share apart. That gap is exactly why we show both numbers side by side.
How much is V Technology Co. Ltd worth?
The market values V Technology Co. Ltd at about $366M (market capitalisation, as of Sep 23, 2026). Per share that is $38.73; our models calculate a fair value of $14.93 per share.
What do the bullish and bearish scenarios say about VCHYF?
Our models span a range for V Technology Co. Ltd: cautious scenario $14.24, base $14.93, optimistic $18.66 per share (as of Sep 23, 2026, price $38.73). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VCHYF?
V Technology Co. Ltd trades at a price-to-earnings ratio of 25.6 (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 $14.93 is built from several models across several years. Other multiples: P/B 1.7, P/S 1.1, EV/EBITDA 9.7.
How solid is the balance sheet of V Technology Co. Ltd (VCHYF)?
Balance-sheet figures for V Technology Co. Ltd (as of Sep 23, 2026): return on equity 6.8%, debt of 0.42 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is VCHYF from its 52-week high?
V Technology Co. Ltd trades at $38.73, at its 52-week high of $38.73 and 92% above the low of $20.19 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of $14.93 is for.
Which stocks are comparable to V Technology Co. Ltd?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, 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 V Technology Co. Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price $38.73, calculated fair value $14.93 (−61%), Quality Score 69/100, from 22 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 VCHYF calculated?
We run V Technology Co. Ltd through 22 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 $14.93, 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 13.0 % above its aggregate fair value. V Technology 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 V Technology Co. Ltd (VCHYF)?
The latest price we hold is from Sep 18, 2026 and stands at $38.73. Our model-based fair value is $14.93, about −61% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with V Technology Co. Ltd right now?
The price sits above even our optimistic bull case ($18.66). The favourable scenario is already priced in. Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of V Technology Co. Ltd
How large is the market capitalisation of V Technology Co. Ltd (VCHYF)?
The market capitalisation of V Technology Co. Ltd is $366M. 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 V Technology Co. Ltd (VCHYF)?
The price-to-sales ratio of V Technology Co. Ltd is 0.44 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of V Technology Co. Ltd (VCHYF)?
Earnings per share at V Technology Co. Ltd are $1.51 (price ÷ EPS = P/E 25.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of V Technology Co. Ltd (VCHYF)?
The dividend yield of V Technology Co. Ltd is 1.4% (payout 34.9%). 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 V Technology Co. Ltd (VCHYF)?
The net margin of V Technology Co. Ltd is 1.7% (fiscal year 2025). 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 V Technology Co. Ltd (VCHYF)?
The return on equity (ROE) of V Technology Co. Ltd is 6.8% (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 V Technology Co. Ltd (VCHYF)?
On an EBIT basis the return on assets of V Technology Co. Ltd is 4.1% (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 V Technology Co. Ltd (VCHYF)?
The operating margin of V Technology Co. Ltd is 15.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at V Technology Co. Ltd (VCHYF)?
Revenue at V Technology Co. Ltd is growing +45.8% versus a year earlier (3y avg −3.5%). 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 V Technology Co. Ltd (VCHYF)?
Earnings per share at V Technology Co. Ltd are growing +31.4% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Sep 23, 2026