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Catcher Technology Co Ltd (2474) Fair Value & Analysis

Industrials · TW · Market cap 100B TWD (≈ $3.2B) · ISIN TW0002474004

What is Catcher Technology Co Ltd really worth?

CT Catcher Technology Co Ltd 2474 · TW
Price209.50 TWD
Fair Value315.61 TWD
Upside+50.7%
Quality65/100

A solid business, trading 34% below our fair value of 315.61 TWD.

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Strengths

Highly profitable · 31.7% net margin
Low debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Weak Growth (revenue 5y −25.7 %/yr)
!Moderate moat 46/100
!Weak on past: 15 out of 100

For context

·4.77% dividend yield
Evidence: High Range 275.88 TWD – 351.02 TWD

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from 201.09 TWD to 315.61 TWD (+56.9%) since Jul 19, 2026. Share price +15.4% 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 is below even our cautious bear case (275.88 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

247.93 TWD 106.20 TWD Fair Value 315.61 TWD Mar 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 106.20 TWD – 247.93 TWD · fair‑value band 275.88 TWD – 351.02 TWD · the 209.50 TWD price screens below the 315.61 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

Catcher Technology Co Ltd (2474) currently trades at 209.50 TWD, while our model-based Fair Value estimate is 315.61 TWD, implying the stock looks roughly 33.6% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of 278.34 TWD per share, and 15 of the 24 models we run sit above the 209.50 TWD price. Bear case: the Earnings-Based group reads lowest at 113.19 TWD, and 9 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Catcher Technology Co Ltd generated revenue of 18.1B TWD at a net margin of 31.7%. Revenue declined 13.2% year over year. It earns a return on equity of 3.8%. Net debt stands at 18.9B TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 275.88 TWD (bear case) to 351.02 TWD (bull case); at 209.50 TWD, the current price sits below 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 about 21% below its 52-week high and 21% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at 51%, 2474 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 0.8933 TWD per share, which is 0.3 % 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 best evidence 222.11 TWD 271.43 TWD 369.41 TWD 82
Growth DCF 227.73 TWD 276.03 TWD 363.93 TWD 80
Owner Earnings 230.94 TWD 283.35 TWD 387.47 TWD 78
All 24 models by family
DCF Models
FCF DCF best evidence 222.11 TWD 271.43 TWD 369.41 TWD 82
Owner Earnings 230.94 TWD 283.35 TWD 387.47 TWD 78
5Y Revenue Exit 164.46 TWD 188.59 TWD 224.73 TWD 74
5Y EBITDA Exit 197.80 TWD 245.19 TWD 309.75 TWD 77
5Y P/E Exit 284.14 TWD 391.78 TWD 522.95 TWD 71
10Y Revenue Exit 184.09 TWD 208.39 TWD 234.54 TWD 68
10Y EBITDA Exit 205.98 TWD 245.74 TWD 289.81 TWD 70
10Y P/E Exit 259.00 TWD 342.47 TWD 428.42 TWD 65
Earnings-Based
Graham-Dodd 90.20 TWD 149.67 TWD 181.69 TWD 67
EPV 108.62 TWD 113.19 TWD 117.19 TWD 74
Dividend Discount
Gordon GGM 179.58 TWD 221.11 TWD 265.08 TWD 69
DDM Multi-Stage 179.58 TWD 240.40 TWD 315.73 TWD 67
Multiples
P/E Multiple 278.56 TWD 371.41 TWD 464.26 TWD 63
P/S Multiple 142.84 TWD 190.46 TWD 238.07 TWD 58
P/B Multiple 169.12 TWD 225.50 TWD 281.87 TWD 55
EV/EBIT 184.88 TWD 219.44 TWD 254.01 TWD 66
EV/EBITDA 199.30 TWD 238.67 TWD 278.04 TWD 67
EV/Revenue 133.61 TWD 156.08 TWD 178.54 TWD 54
Asset-Based
NCAV (Graham) 132.55 TWD 177.62 TWD 265.11 TWD 54
Growth DCF
Growth DCF 227.73 TWD 276.03 TWD 363.93 TWD 80
Rev-Margin DCF 164.46 TWD 191.51 TWD 227.66 TWD 74
Economic Profit
Residual Income 205.49 TWD 210.35 TWD 204.21 TWD 76
ROIC Compounder 108.62 TWD 113.19 TWD 117.19 TWD 72
Growth Earnings
Growth-Adj P/E 194.84 TWD 278.34 TWD 361.85 TWD 67

Widest divergence: Growth Earnings (278.34 TWD) versus Earnings-Based (113.19 TWD). Highest evidence: FCF DCF (82).

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Key figures & financial health

P/E ratio 18.5
P/S ratio 7.10 P/E × margin
EPS (TTM) 11.30 TWD price ÷ EPS = P/E 18.5
Dividend yield 4.8% payout 88.5%
Net margin 38.3% FY2025
Return on equity 3.8% TTM
More key figures
Profitability
Return on assets (EBIT) 3.1% avg 5y
Operating margin 6.5% TTM
Growth
Revenue (TTM) 18.1B TWD TTM
Revenue growth (YoY) −13.2% 3y avg −12.5%
EPS growth (YoY) −40.7%
Balance sheet & cash flow
Free cash flow 7.5B TWD FY2025
Net debt 18.9B TWD FY2025 · ≈ 2.5 yrs of FCF

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 64 · Market factors (momentum, volatility) 54

Profitability 34
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 84
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 100
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

Catcher Technology Co., Ltd., together with its subsidiaries, engages in the manufacture and sale of aluminum and magnesium extrusions, alloy housings, and molds in Taiwan, China, the United States, Singapore, and internationally.

Full company description

Catcher Technology Co., Ltd., together with its subsidiaries, engages in the manufacture and sale of aluminum and magnesium extrusions, alloy housings, and molds in Taiwan, China, the United States, Singapore, and internationally. Its products include chassis and interior mechanical components; upper case, lower case, keyboard cover, and monitor casings for notebook computers; casings for various server specifications and desktop computers; industrial computer casings and internal parts; and computer accessories, such as plugs and A/V connector casings. The company also produces customized thin and precision-oriented communication application products, including phones and tablet PC products, as well as communication accessories, such as earphones and camera heads. In addition, it manufactures and sells medical devices, which include precision machinery, value added injection molded parts and assemblies, and device assembly services. Further, the company provides ventilation blades, air-power tools, automobiles, TVs, and lightning equipment; manufactures, develops, and sells, various metal products; and engages in international trading, leasing, and investing activities. Catcher Technology Co., Ltd. was founded in 1971 and is headquartered in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Catcher Technology Co Ltd reported revenue of 18.7B TWD in FY2025 versus 41.1B TWD in FY2021, a compound −17.9%/yr. Reported net income was 7.1B TWD in FY2025, compounding −4.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
18.7B TWD
Latest YoY
+3.2%
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.
−12.5%
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.
−25.7%
Avg. revenue growth/yr (24Y) 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.
+12.9%
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.
−0.1% (−4.9 + 4.8)
Revenue −17.9%/yr
FY21 41.1B TWD
FY22 27.8B TWD
FY23 18.1B TWD
FY24 18.1B TWD
FY25 18.7B TWD
Net income −4.5%/yr
FY21 8.6B TWD
FY22 10.9B TWD
FY23 9.2B TWD
FY24 13.2B TWD
FY25 7.1B TWD
Character of growth · EPS growth decomposed (2014-2025) −6.9 % p.a.
Revenue per share −12.7 %

of which total revenue −14.2 % · buybacks/dilution +1.7 %

EBIT margin −9.4 %
Tax rate +0.4 %
Residual (interest, one-offs) +17.3 %

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).

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Cite: Fair Value Calculator (2026). "Catcher Technology Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2474

Peer Group

Metal Fabrication · 251 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 65 · Top 25%
Fair Value upside +51% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 32% · Top 25%
Operating margin (TTM) 6% · Above median
Revenue growth −13% · Bottom 25%
Dividend yield (TTM) 4.8% · Top 25%

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 18.5× · Cheaper than median
P/B 0.70× · Cheaper than 75% of peers
P/S (TTM) 5.56× · Pricier than 75% of peers
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 14.0× · Pricier than median
PEG 4.82× · Pricier than 75% of peers

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
VALUE100 · sector 0
FUTURE0 · sector 35
PAST15 · sector 21
HEALTH100 · sector 95
DIVIDEND95 · sector 26

Insider activity: 40/100

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

Stock Price Fair Value vs Fair Value
Carpenter Technology Corporation CRS $490.58 $101.35 −79%
ATI Inc ATI $210.76 $35.74 −83%
Mueller Industries, Inc MLI $62.80 $59.33 −6%
Aurubis AG NDA €178.90 €223.43 +25%
China International Marine Containers (Group) Co 000039 ¥8.87 ¥3.39 −62%
Commercial Metals Company CMC $68.16 $13.01 −81%
JL Mag Rare-Earth Co 300748 ¥27.08 ¥8.34 −69%
Viohalco S.A VIO €16.46 €14.98 −9%
ESAB Corporation ESAB $86.05 $52.40 −39%
Ningbo Zhenyu Technology Co 300953 ¥104.36 ¥44.23 −58%

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Frequently asked questions

Is Catcher Technology Co Ltd (2474) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 315.61 TWD versus a price of 209.50 TWD, about +51% upside (undervalued).
What is the fair value of 2474?
Our model-based fair value for Catcher Technology Co Ltd is 315.61 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price: 209.50 TWD.
What is the quality score of 2474?
Catcher Technology Co Ltd has a Quality Score of 65/100. 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 Catcher Technology Co Ltd (2474)?
Catcher Technology Co Ltd reported trailing-twelve-month revenue of about 18.1B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2474?
The net profit margin of Catcher Technology Co Ltd is about 31.7%, meaning it keeps roughly 31.7% of revenue as net income. Based on the latest reported figures.
Does Catcher Technology Co Ltd pay a dividend?
Catcher Technology Co Ltd currently shows a dividend yield of about 4.77% relative to its recent price (as of Aug 13, 2026).
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