Hiwin Technologies Corp (2049) fair value: what the stock is really worth
We calculate from audited financials what Hiwin Technologies Corp is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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A solid business, but trading 395% above our fair value of 73.32 TWD.
As of Sep 11, 2026, the fair value of Hiwin Technologies Corp is 73.32 TWD per share against a price of 363.00 TWD, so the fair value sits 80% below the price. A model estimate from reported figures, not an analyst target.
!Weak Growth (revenue 5y +2.7 %/yr)
!Thin margins · 6.5% net margin
✓Low debt · generates free cash flow
·0.55% dividend yield
!Trails peers (4/15)
!Narrow moat 39/100
!Weak on past: 16 out of 100
!Weak on dividend: 11 out of 100
Evidence: HighRange 54.99 TWD to 91.65 TWD
Fair value as of: Sep 11, 2026
From 26 valuation models · updated today
Share price −1.4% over the past month.
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69 individual criteria per stock, every one traceable See the method →
What matters now
The price sits above even our optimistic bull case (91.65 TWD). The favourable scenario is already priced in.
Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 11, 2026.
How to read this chart
60‑month range 154.22 TWD – 409.50 TWD · fair‑value band 54.99 TWD – 91.65 TWD · the 363.00 TWD price screens above the 73.32 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 11, 2026.
Hiwin Technologies Corp (2049) currently trades at 363.00 TWD, while our model-based Fair Value estimate is 73.32 TWD, implying the stock looks roughly 395.0% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of 80.79 TWD per share, and 0 of the 26 models we run sit above the 363.00 TWD price. Bear case: the Earnings-Based group reads lowest at 29.28 TWD, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Hiwin Technologies Corp generated revenue of 24.3B TWD at a net margin of 6.3%. Revenue grew 2.0% year over year. It earns a return on equity of 3.8%. Net debt stands at 2.6B TWD. Fundamentals as of Sep 11, 2026
Scenario range: 54.99 TWD (bear) to 91.65 TWD (bull), the price of 363.00 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 15% below its 52-week high and 101% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at −80%, 2049 screens richer than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (1.60 TWD per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
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Key figures & financial health
P/E ratio84.2
P/S ratio5.30P/E × margin
EPS (TTM)4.31 TWDprice ÷ EPS = P/E 84.2
Dividend yield0.6%payout 46.4%
Net margin6.3%FY2025
Return on equity3.8%TTM
More key figures
Profitability
Return on assets (EBIT)6.8%avg 5y
Operating margin4.9%TTM
Growth
Revenue (TTM)24.3B TWDTTM
Revenue growth (YoY)+2.0%3y avg −6.1%
EPS growth (YoY)+39.9%
Balance sheet & cash flow
Free cash flow1.5B TWDFY2025
Net debt2.6B TWDFY2025 · ≈ 1.7 yrs of FCF
Figures from reported company fundamentals · as of Sep 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality60/100
Of which business quality 59
· Market factors (momentum, volatility) 73
Profitability29
Margins and returns on capital today
Quality Growth34
Are margins and returns improving?
Cashflow51
Earnings quality: real cash, not paper profit
Fin. Strength78
Balance sheet, leverage, solvency risk
Investment76
Disciplined investing over empire-building
Low Volatility40
Calm price path (market factor)
Momentum88
Price trend over the last 3–12 months (market factor)
52W Momentum87
Distance to the 52-week high (market factor)
Net Issuance100
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Hiwin Technologies Corporation manufactures and sells motion control and systematic technology products in Taiwan, China, Germany, the United States, Japan, and internationally. The company operates through Linear Guideways, Ballscrews, and Other segments.
Full company description
Hiwin Technologies Corporation manufactures and sells motion control and systematic technology products in Taiwan, China, Germany, the United States, Japan, and internationally. The company operates through Linear Guideways, Ballscrews, and Other segments. It offers ballscrews, Ball Spline, linear guideways, bearings, DATORKER strain wave gear, end effectors, torque motor rotary tables, and semiconductor subsystem, as well as single and multi-axis robots; and medical robots and equipment. The company also provides ball screws, linear guideways, industrial robots, aerospace automation equipment parts, computer numerical control (CNC) milling machines, and medical equipment. In addition, it engages in the research, development, design, manufacture, and sale of solar cells, electronic components, electric power supplies, electric transmission, and power distribution machinery products, as well as gear cutting tools and machinery; design, integrated application, research, development, manufacture, and sale of thread forming machinery; and manufacture and sale of aerospace parts. The company offers its products under the HIWIN brand name. Hiwin Technologies Corporation was incorporated in 1989 and is headquartered in Taichung, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hiwin Technologies Corp reported revenue of 24.3B TWD in FY2025 versus 27.3B TWD in FY2021, a compound −2.9%/yr. Reported net income was 1.5B TWD in FY2025, compounding −18.9%/yr from FY2021.
Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
24.3B TWD
Latest YoY
−0.5%
Avg. revenue 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.
−6.1%
Avg. revenue 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.
+2.7%
Avg. revenue growth/yr (20Y) ⓘ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.
+10.5%
Value creation/yr (5Y, in TWD) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
−3.7%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−4.3%
Dividend yield0.6%
Trend ⓘ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.5Y −4.3% vs 10Y −0.8%, flattening
Operating margin (EBIT) ⓘ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.10.3% (2020) → 6.8% (2025) · falling
Worst earnings drop66% (2019) · in TWD
Revenue−2.9%/yr
FY2127.3B TWD
FY2229.3B TWD
FY2324.6B TWD
FY2424.4B TWD
FY2524.3B TWD
Net income−18.9%/yr
FY213.5B TWD
FY224.5B TWD
FY232.0B TWD
FY242.0B TWD
FY251.5B TWD
Character of growth · EPS growth decomposed (2014-2025)−0.4 % p.a.
Revenue per share+4.5 %
of which total revenue +5.3 % · buybacks/dilution −0.7 %
EBIT margin−4.8 %
Tax rate−0.2 %
Residual (interest, one-offs)+0.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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.
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
Quality Score60 · Above median
Fair Value upside−80% · Bottom 25%
Profitability
Return on equity (TTM)4% · Below median
Return on assets2% · Below median
Net margin (TTM)7% · Below median
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth9% · Above median
Dividend yield (TTM)0.6% · Bottom 25%
Balance sheet
Debt / equity0.18× · Above median
Valuation Multiples vs Tools & Accessories median · lower = cheaper
P/E (TTM)84.2× · Priciest 25%
P/B3.05× · Pricier than median
P/S (TTM)4.59× · Priciest 25%
P/FCF2.4× · Cheaper than median
EV/EBITDA27.4× · Priciest 25%
PEG3.35× · Priciest 25%
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Hiwin Technologies Corp deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years+28.5 % per year
Achieved revenue growth, 5 years+2.7 % p.a.
Sector median revenue growth+4.6 %
FCF yield on price1.28 %
Discount rate (WACC) in the models10.5 %
The price demands an acceleration versus past growth: a high bar the company still has to clear. Ranking of the largest stocks →
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.
This stockSector peers
VALUE0· sector 3
FUTURE47· sector 16
PAST16· sector 28
HEALTH91· sector 97
DIVIDEND11· sector 39
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
Similar stocks
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Is Hiwin Technologies Corp (2049) overvalued or undervalued?
As of Sep 11, 2026, our model estimates a fair value of 73.32 TWD versus a price of 363.00 TWD, about −80% upside (overvalued).
What is the fair value of 2049?
Our model-based fair value for Hiwin Technologies Corp is 73.32 TWD (as of Sep 11, 2026), built from audited fundamentals. The current price: 363.00 TWD.
What is the quality score of 2049?
Hiwin Technologies Corp has a Quality Score of 60/100. 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 Hiwin Technologies Corp (2049)?
Our model-based price target is the fair value of 73.32 TWD (as of Sep 11, 2026) from 26 valuation models. Cautious scenario 54.99 TWD, optimistic scenario 91.65 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Hiwin Technologies Corp stock forecast for 2026?
Our models put fair value at 73.32 TWD, about −80% upside versus a price of 363.00 TWD (overvalued). Cautious scenario 54.99 TWD, optimistic scenario 91.65 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Hiwin Technologies Corp (2049)?
Hiwin Technologies Corp reported trailing-twelve-month revenue of about 24.3B TWD (latest available figure, as of Sep 11, 2026).
What is the net profit margin of 2049?
The net profit margin of Hiwin Technologies Corp is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does Hiwin Technologies Corp pay a dividend?
Hiwin Technologies Corp currently shows a dividend yield of about 0.55% relative to its recent price (as of Sep 11, 2026).
What growth is priced into Hiwin Technologies Corp (2049)?
For today's price to be fair in a discounted-cash-flow model, Hiwin Technologies Corp would have to grow free cash flow by +28.5 % per year for ten years (discount rate 10.5 %, then 2 % perpetual growth). Over the last 5 years revenue grew +2.7 % per year. As of Sep 11, 2026.
What discount rate (WACC) does the fair value of 2049 use?
Our models discount Hiwin Technologies Corp at 10.5 %: a base by market capitalisation (mid), damped by beta 1.07, country premium for Taiwan. The same rate applies in all 26 models.
What is the intrinsic value of Hiwin Technologies Corp (2049)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hiwin Technologies Corp it is 73.32 TWD per share (as of Sep 11, 2026), against a price of 363.00 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hiwin Technologies Corp stock overvalued or undervalued in 2026?
As of Sep 11, 2026, 2049 trades above its calculated fair value: price 363.00 TWD, fair value 73.32 TWD, a gap of about −80% (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 2049?
No. The price is what the market pays today (363.00 TWD); the fair value is what the company's own numbers justify (73.32 TWD). For Hiwin Technologies Corp the two are 289.68 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Hiwin Technologies Corp worth?
The market values Hiwin Technologies Corp at about 119B TWD (market capitalisation, as of Sep 11, 2026). Per share that is 363.00 TWD; our models calculate a fair value of 73.32 TWD per share.
What do the bullish and bearish scenarios say about 2049?
Our models span a range for Hiwin Technologies Corp: cautious scenario 54.99 TWD, base 73.32 TWD, optimistic 91.65 TWD per share (as of Sep 11, 2026, price 363.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2049?
Hiwin Technologies Corp trades at a price-to-earnings ratio of 84.2 (as of Sep 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 73.32 TWD is built from several models across several years. Other multiples: PEG 3.4, P/B 3.1, P/S 4.6, EV/EBITDA 27.4.
What is the PEG ratio of 2049?
The PEG ratio of Hiwin Technologies Corp is 3.35 (P/E divided by earnings growth, as of Sep 11, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Hiwin Technologies Corp (2049)?
Balance-sheet figures for Hiwin Technologies Corp (as of Sep 11, 2026): return on equity 4.1%, debt of 0.18 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 2049 from its 52-week high?
Hiwin Technologies Corp trades at 363.00 TWD, about 15% below its 52-week high of 426.00 TWD and 101% above the low of 180.50 TWD (as of Sep 11, 2026). Distance from the high says nothing about value: that is what the fair value of 73.32 TWD is for.
Which stocks are comparable to Hiwin Technologies Corp?
From the same area (Industrials) we also value Techtronic Industries Company, Snap-on Incorporated, RBC Bearings Incorporated, Lincoln Electric Holdings, 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 Hiwin Technologies Corp stock attractive at the current price?
The data as of Sep 11, 2026: price 363.00 TWD, calculated fair value 73.32 TWD (−80%), Quality Score 60/100, from 26 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 2049 calculated?
We run Hiwin Technologies Corp through 26 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 73.32 TWD, 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 32.6 % above its aggregate fair value. Hiwin Technologies Corp 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 <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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