Gold Circuit Electronics Ltd (2368) Fair Value & Analysis
Technology · TW · Market cap 543B TWD (≈ $17.1B) · ISIN TW0002368008
What is Gold Circuit Electronics Ltd really worth?
A solid business, but trading 171% above our fair value of 405.62 TWD.
Strengths
Risks
For context
Fair value as of: Aug 19, 2026
From 17 valuation models · updated 17 days ago
Share price +26.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (665.30 TWD). The favourable scenario is already priced in.
- Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (283.93 TWD to 665.30 TWD) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
60‑month range 10.93 TWD – 1,484 TWD · fair‑value band 283.93 TWD – 665.30 TWD · the 1,100 TWD price screens above the 405.62 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.
Analysis
Gold Circuit Electronics Ltd (2368) currently trades at 1,100 TWD, while our model-based Fair Value estimate is 405.62 TWD, implying the stock looks roughly 171.2% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of 405.62 TWD per share, and 0 of the 17 models we run sit above the 1,100 TWD price. Bear case: the Asset-Based group reads lowest at 44.39 TWD, and 17 of the 17 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Gold Circuit Electronics Ltd generated revenue of 67.3B TWD at a net margin of 16.9%. Revenue grew 60.1% year over year. It earns a return on equity of 41.1%. The balance sheet holds a net cash position of 41.3M TWD. Fundamentals as of Aug 19, 2026
Our scenario range runs from 283.93 TWD (bear case) to 665.30 TWD (bull case); at 1,100 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 28% below its 52-week high and 337% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at −63%, 2368 screens richer 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 6.11 TWD per share, which is 1.5 % 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.
All 17 models by family
Widest divergence: Growth Earnings (405.62 TWD) versus Asset-Based (44.39 TWD). Highest evidence: Owner Earnings (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 62
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
Gold Circuit Electronics Ltd. engages in the manufacturing, processing, and trading of electronic equipment products, such as printed circuit boards in Taiwan. Its products are used for AI/ Advanced Server, networking, notebook, handset products, automotive, and IC tests products. The company was founded in 1981 and is headquartered in Taoyuan City, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Gold Circuit Electronics Ltd reported revenue of 60.0B TWD in FY2025 versus 26.6B TWD in FY2021, a compound +22.5%/yr. Reported net income was 9.6B TWD in FY2025, compounding +34.6%/yr from FY2021.
of which total revenue +9.2 % · buybacks/dilution +0.0 %
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).
2368 screens 171% overvalued. Compare with Amphenol Corporation →
Peer Group
Electronic Components · 638 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 Electronic Components median · lower = cheaper
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.
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.
Similar stocks
10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Amphenol Corporation APH | $157.74 | $97.19 | −38% |
| Corning Incorporated GLW | CHF 134.64 | CHF 35.18 | −74% |
| Delta Electronics, Inc 2308 | 1,750 TWD | 602.37 TWD | −66% |
| Luxshare Precision Industry Co 002475 | ¥56.06 | ¥38.44 | −31% |
| Samsung Electro-Mechanics Co 009150 | 1,503,000 KRW | 172,954 KRW | −88% |
| Suzhou Dongshan Precision Manufacturing Co 002384 | ¥202.11 | ¥21.19 | −90% |
| TE Connectivity plc TEL | $202.66 | $144.42 | −29% |
| Shengyi Technology Co 600183 | ¥132.80 | ¥36.30 | −73% |
| Flex Ltd FLEX | $124.53 | $48.10 | −61% |
| Celestica Inc CLS | $298.70 | $113.54 | −62% |
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