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Accton Technology Corp (2345) Fair Value & Analysis

Technology · TW · Market cap 1.2T TWD (≈ $37.4B) · ISIN TW0002345006

What is Accton Technology Corp really worth?

AT Accton Technology Corp 2345 · TW
Price2,100 TWD
Fair Value1,135 TWD
Upside−46.0%
Quality72/100

A solid business, but trading 85% above our fair value of 1,135 TWD.

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Strengths

Healthy Growth (revenue 5y +35.5 %/yr)
Solidly profitable · 10.7% net margin
Low debt · generates free cash flow
Wide moat 72/100

Risks

!Mixed vs. peers (8/14)
!Weak on dividend: 14 out of 100

For context

·0.71% dividend yield
Evidence: High Range 861.99 TWD – 1,825 TWD

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from 846.28 TWD to 1,135 TWD (+34.1%) since Jul 17, 2026. Share price −11.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 72/100), 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 (1,825 TWD). The favourable scenario is already priced in.
  • A fairly wide model range (861.99 TWD to 1,825 TWD) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

2,750 TWD 194.42 TWD Fair Value 1,135 TWD Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 194.42 TWD – 2,750 TWD · fair‑value band 861.99 TWD – 1,825 TWD · the 2,100 TWD price screens above the 1,135 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Accton Technology Corp (2345) currently trades at 2,100 TWD, while our model-based Fair Value estimate is 1,135 TWD, implying the stock looks roughly 85.1% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of 1,586 TWD per share, and 0 of the 26 models we run sit above the 2,100 TWD price. Bear case: the Dividend Discount group reads lowest at 189.23 TWD, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Accton Technology Corp generated revenue of 276B TWD at a net margin of 10.7%. Revenue grew 64.0% year over year. It earns a return on equity of 56.1%. The balance sheet holds a net cash position of 24.6B TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 861.99 TWD (bear case) to 1,825 TWD (bull case); at 2,100 TWD, 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 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 22% below its 52-week high and 200% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −54% fair-value upside, at −46%, 2345 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 21.65 TWD per share, which is 1.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Highest evidence
FCF DCF 906.59 TWD 1,586 TWD 3,494 TWD 74
EPV 506.42 TWD 587.01 TWD 658.65 TWD 74
Growth DCF 875.31 TWD 1,787 TWD 3,557 TWD 73
All 26 models by family
DCF Models
FCF DCF 906.59 TWD 1,586 TWD 3,494 TWD 74
Owner Earnings 710.65 TWD 1,537 TWD 3,291 TWD 71
5Y Revenue Exit 681.51 TWD 1,220 TWD 2,119 TWD 70
5Y EBITDA Exit 863.07 TWD 1,622 TWD 2,813 TWD 72
5Y P/E Exit 983.37 TWD 1,966 TWD 3,207 TWD 68
10Y Revenue Exit 724.06 TWD 1,349 TWD 2,218 TWD 65
10Y EBITDA Exit 875.05 TWD 1,686 TWD 3,115 TWD 65
10Y P/E Exit 960.75 TWD 1,910 TWD 3,493 TWD 61
Earnings-Based
Graham-Dodd 320.05 TWD 2,099 TWD 2,938 TWD 63
Lynch FV 611.49 TWD 873.56 TWD 1,136 TWD 61
PEG = 1.0 611.49 TWD 873.56 TWD 1,136 TWD 57
EPV 506.42 TWD 587.01 TWD 658.65 TWD 74
Dividend Discount
Gordon GGM 105.81 TWD 231.00 TWD 388.67 TWD 65
DDM Multi-Stage 105.81 TWD 189.23 TWD 240.74 TWD 66
Multiples
P/E Multiple 988.40 TWD 1,318 TWD 1,647 TWD 63
P/S Multiple 600.10 TWD 800.13 TWD 1,000 TWD 58
P/B Multiple 463.27 TWD 617.70 TWD 772.12 TWD 55
EV/EBIT 1,085 TWD 1,430 TWD 1,775 TWD 66
EV/EBITDA 867.65 TWD 1,140 TWD 1,413 TWD 67
EV/Revenue 572.96 TWD 797.19 TWD 1,021 TWD 54
Asset-Based
NCAV (Graham) 51.47 TWD 68.98 TWD 102.95 TWD 54
Growth DCF
Growth DCF 875.31 TWD 1,787 TWD 3,557 TWD 73
Rev-Margin DCF 681.51 TWD 1,241 TWD 2,054 TWD 70
Economic Profit
Residual Income 443.05 TWD 724.39 TWD 14,099 TWD 64
ROIC Compounder 553.40 TWD 702.66 TWD 883.92 TWD 72
Growth Earnings
Growth-Adj P/E 982.94 TWD 1,404 TWD 1,825 TWD 67

Widest divergence: DCF Models (1,586 TWD) versus Asset-Based (68.98 TWD). Highest evidence: FCF DCF (74).

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Key figures & financial health

P/E ratio 44.8
P/S ratio 4.75 P/E × margin
EPS (TTM) 46.86 TWD price ÷ EPS = P/E 44.8
Dividend yield 0.7% payout 32.0%
Net margin 10.6% FY2025
Return on equity 56.1% TTM
More key figures
Profitability
Return on assets (EBIT) 19.0% avg 5y
Operating margin 14.3% TTM
Growth
Revenue (TTM) 276B TWD TTM
Revenue growth (YoY) +64.0% 3y avg +47.6%
EPS growth (YoY) +62.9%
Balance sheet & cash flow
Free cash flow 29.8B TWD FY2025
Net cash 24.6B TWD FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 72 · Market factors (momentum, volatility) 70

Profitability 81
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 77
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 87
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

Accton Technology Corporation develops, manufactures, and sells computer network systems and wireless land area network (LAN) hardware and software products in Taiwan and internationally.

Full company description

Accton Technology Corporation develops, manufactures, and sells computer network systems and wireless land area network (LAN) hardware and software products in Taiwan and internationally. The company offers 800G AI/ML fabrics, fiber optical transceivers, hyper network appliances, and edge servers, as well as data centers, metro ethernet, telecommunication networks, school/enterprise networks, and software-defined wide area network. It also provides data center switches, open packet transponders, cloud service appliances, and ethernet BOF; edge-computing; wired and wireless network solutions; carrier access platforms and disaggregated open solutions; and IoT integration solutions. In addition, the company engages in the production and sale of network switches; design, research, development, manufacture, and sale of switching hubs; and provision of information software and information technology services, as well as e-commerce apps, and advertising services. Further, it offers network products; and technical consulting and engineering design services. Additionally, the company provides data center networks, edge computing, cloud networks, carrier access, and IoT integration solutions. Accton Technology Corporation was incorporated in 1988 and is headquartered in Hsinchu City, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Accton Technology Corp reported revenue of 248B TWD in FY2025 versus 59.6B TWD in FY2021, a compound +42.9%/yr. Reported net income was 26.3B TWD in FY2025, compounding +53.8%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
248B TWD
Latest YoY
+124.9%
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.
+47.6%
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.
+35.5%
Avg. revenue growth/yr (23Y) 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.
+12.5%
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.
+40.7% (40.0 + 0.7)
Revenue +42.9%/yr
FY21 59.6B TWD
FY22 77.2B TWD
FY23 84.2B TWD
FY24 110B TWD
FY25 248B TWD
Net income +53.8%/yr
FY21 4.7B TWD
FY22 8.2B TWD
FY23 8.9B TWD
FY24 12.0B TWD
FY25 26.3B TWD
Character of growth · EPS growth decomposed (2014-2025) +32.4 % p.a.
Revenue per share +21.2 %

of which total revenue +21.5 % · buybacks/dilution −0.2 %

EBIT margin +10.2 %
Tax rate +0.0 %
Residual (interest, one-offs) −0.8 %

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).

2345 screens 85% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "Accton Technology Corp Fair Value". https://www.fairvalue-calculator.com/stock/2345

Peer Group

Communication Equipment · 302 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.

Quality Score 72 · Top 25%
Fair Value upside −46% · Below median
Return on equity (TTM) 56% · Top 25%
Return on assets 17% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 64% · Top 25%
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 44.8× · Pricier than median
P/B 20.64× · Pricier than 75% of peers
P/S (TTM) 4.31× · Pricier than 75% of peers
P/FCF 1.3× · Cheaper than median
EV/EBITDA 30.7× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 39
PAST100 · sector 15
HEALTH100 · sector 98
DIVIDEND14 · sector 22

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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 Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $112.15 $61.53 −45%
Zhongji Innolight Co 300308 ¥866.12 ¥171.09 −80%
Foxconn Industrial Internet Co 601138 ¥61.83 ¥28.65 −54%
Eoptolink Technology Inc 300502 ¥429.90 ¥176.99 −59%
Nokia Oyj NOK $10.21 $3.78 −63%
Motorola Solutions, Inc MSI $491.24 $236.33 −52%
Yangtze Optical Fibre And Cable Joint Stock Limited 601869 ¥400.03 ¥201.38 −50%
Suzhou TFC Optical Communication Co 300394 ¥276.25 ¥43.67 −84%
Telefonaktiebolaget LM Ericsson (publ), ERIC $10.13 $19.85 +96%
Ubiquiti Inc UI $577.76 $252.79 −56%

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Frequently asked questions

Is Accton Technology Corp (2345) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1,135 TWD versus a price of 2,100 TWD, about −46% upside (overvalued).
What is the fair value of 2345?
Our model-based fair value for Accton Technology Corp is 1,135 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price: 2,100 TWD.
What is the quality score of 2345?
Accton Technology Corp has a Quality Score of 72/100. 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 revenue of Accton Technology Corp (2345)?
Accton Technology Corp reported trailing-twelve-month revenue of about 276B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2345?
The net profit margin of Accton Technology Corp is about 10.7%, meaning it keeps roughly 10.7% of revenue as net income. Based on the latest reported figures.
Does Accton Technology Corp pay a dividend?
Accton Technology Corp currently shows a dividend yield of about 0.71% relative to its recent price (as of Aug 13, 2026).
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