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Walsin Technology Corp (2492) Fair Value & Analysis

Technology · TW · Market cap 149B TWD (≈ $4.7B) · ISIN TW0002492006

What is Walsin Technology Corp really worth?

WT Walsin Technology Corp 2492 · TW
Price298.50 TWD
Fair Value68.50 TWD
Upside−77.1%
Quality45/100

Below-average quality, and trading another 336% above our fair value of 68.50 TWD.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +0.5 %/yr)
!Thin margins · 6.8% net margin
!Trails peers (4/15)
!Narrow moat 35/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 21 out of 100
!Weak on dividend: 17 out of 100

For context

·0.84% dividend yield
Evidence: Medium Range 54.12 TWD – 85.62 TWD

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Share price +15.0% 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 (85.62 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

617.00 TWD 66.50 TWD Fair Value 68.50 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 66.50 TWD – 617.00 TWD · fair‑value band 54.12 TWD – 85.62 TWD · the 298.50 TWD price screens above the 68.50 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

Walsin Technology Corp (2492) currently trades at 298.50 TWD, while our model-based Fair Value estimate is 68.50 TWD, implying the stock looks roughly 335.7% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of 158.70 TWD per share, and 0 of the 26 models we run sit above the 298.50 TWD price. Bear case: the Economic Profit group reads lowest at 11.87 TWD, and 26 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Walsin Technology Corp generated revenue of 37.3B TWD at a net margin of 6.8%. Revenue grew 9.1% year over year. It earns a return on equity of 5.2%. Net debt stands at 22.3B TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 54.12 TWD (bear case) to 85.62 TWD (bull case); at 298.50 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 share trades about 35% below its 52-week high and 291% 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 −77%, 2492 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 1.52 TWD per share, which is 2.2 % 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 125.07 TWD 218.25 TWD 367.35 TWD 78
Growth DCF 126.31 TWD 217.38 TWD 362.49 TWD 76
Residual Income 81.31 TWD 81.71 TWD 76.06 TWD 76
All 26 models by family
DCF Models
FCF DCF best evidence 125.07 TWD 218.25 TWD 367.35 TWD 78
Owner Earnings 113.49 TWD 199.22 TWD 336.42 TWD 74
5Y Revenue Exit 54.40 TWD 85.09 TWD 122.68 TWD 72
5Y EBITDA Exit 134.10 TWD 239.53 TWD 365.55 TWD 74
5Y P/E Exit 88.50 TWD 151.17 TWD 218.17 TWD 70
10Y Revenue Exit 76.78 TWD 111.93 TWD 157.50 TWD 67
10Y EBITDA Exit 129.56 TWD 221.23 TWD 349.10 TWD 67
10Y P/E Exit 100.08 TWD 158.70 TWD 232.83 TWD 63
Earnings-Based
Graham-Dodd 32.23 TWD 117.82 TWD 159.02 TWD 64
Lynch FV 28.07 TWD 40.10 TWD 52.13 TWD 61
PEG = 1.0 28.07 TWD 40.10 TWD 52.13 TWD 57
EPV 7.33 TWD 11.87 TWD 15.84 TWD 72
Dividend Discount
Gordon GGM 22.08 TWD 45.91 TWD 72.84 TWD 66
DDM Multi-Stage 22.08 TWD 38.71 TWD 48.19 TWD 66
Multiples
P/E Multiple 99.55 TWD 132.73 TWD 165.91 TWD 63
P/S Multiple 60.44 TWD 80.59 TWD 100.73 TWD 58
P/B Multiple 60.44 TWD 80.59 TWD 100.73 TWD 55
EV/EBIT 58.31 TWD 84.37 TWD 110.44 TWD 65
EV/EBITDA 156.13 TWD 214.80 TWD 273.48 TWD 67
EV/Revenue 19.65 TWD 36.59 TWD 53.53 TWD 52
Asset-Based
NCAV (Graham) 53.67 TWD 71.92 TWD 107.34 TWD 54
Growth DCF
Growth DCF 126.31 TWD 217.38 TWD 362.49 TWD 76
Rev-Margin DCF 54.40 TWD 86.72 TWD 126.20 TWD 72
Economic Profit
Residual Income 81.31 TWD 81.71 TWD 76.06 TWD 76
ROIC Compounder 7.33 TWD 11.87 TWD 15.84 TWD 71
Growth Earnings
Growth-Adj P/E 63.67 TWD 90.95 TWD 118.24 TWD 67

Widest divergence: DCF Models (158.70 TWD) versus Economic Profit (11.87 TWD). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 63.0
P/S ratio 3.97 P/E × margin
EPS (TTM) 4.74 TWD price ÷ EPS = P/E 63.0
Dividend yield 0.8% payout 52.7%
Net margin 6.3% FY2025
Return on equity 5.2% TTM
More key figures
Profitability
Return on assets (EBIT) 4.3% avg 5y
Operating margin 7.5% TTM
Growth
Revenue (TTM) 37.3B TWD TTM
Revenue growth (YoY) +9.1% 3y avg +1.1%
EPS growth (YoY) −17.2%
Balance sheet & cash flow
Free cash flow 5.9B TWD FY2025
Net debt 22.3B TWD FY2025 · ≈ 3.8 yrs of FCF

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

Quality Score breakdown

Overall quality 45/100

Of which business quality 47 · Market factors (momentum, volatility) 49

Profitability 24
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 69
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 0
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

Walsin Technology Corporation, together with its subsidiaries, develops, manufactures, and sells passive electronic components in Asia, America, and Europe. It provides chip capacitors, chip resistors, ceramic dielectric powders, and magnetic elements.

Full company description

Walsin Technology Corporation, together with its subsidiaries, develops, manufactures, and sells passive electronic components in Asia, America, and Europe. It provides chip capacitors, chip resistors, ceramic dielectric powders, and magnetic elements. It also researches, develops, manufactures, and sells integrated electrical protection components, hybrid microwave antenna modules, electric capacitors, thick film printed circuit boards, laminated dielectric filters, EMI filters, and multilayer type microwave communication components and modules; generates solar power electricity; sells photoelectric and sensor devices, and radio frequency devices; and trades in electronic parts. In addition, it offers transformers, coils and magnetic components, computers and peripheral output devices, keypads products, mechanical integrated components, and communication products and components, as well as provides antenna wholesale and after-sales services. Further, it provides marketing, warehousing, and commission agency services. The company's products are used in mobile devices, networking, automotive, industrial, power supply, IoT, green energy, PC and peripheral, and lighting applications. Walsin Technology Corporation was incorporated in 1970 and is based in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Walsin Technology Corp reported revenue of 36.5B TWD in FY2025 versus 42.1B TWD in FY2021, a compound −3.5%/yr. Reported net income was 2.3B TWD in FY2025, compounding −26.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
36.5B TWD
Latest YoY
+4.9%
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.
+1.1%
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.
+0.5%
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.
+8.3%
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.
−22.5% (−23.3 + 0.8)
Revenue −3.5%/yr
FY21 42.1B TWD
FY22 35.3B TWD
FY23 32.8B TWD
FY24 34.8B TWD
FY25 36.5B TWD
Net income −26.6%/yr
FY21 7.9B TWD
FY22 2.3B TWD
FY23 2.0B TWD
FY24 3.0B TWD
FY25 2.3B TWD
Character of growth · EPS growth decomposed (2014-2025) +7.9 % p.a.
Revenue per share +9.5 %

of which total revenue +8.7 % · buybacks/dilution +0.7 %

EBIT margin −3.0 %
Tax rate −1.9 %
Residual (interest, one-offs) +3.5 %

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).

2492 screens 336% overvalued. Compare with Amphenol Corporation →

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Cite: Fair Value Calculator (2026). "Walsin Technology Corp Fair Value". https://www.fairvalue-calculator.com/stock/2492

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.

Quality Score 45 · Below median
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 1% · Below median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 9% · Above median
Dividend yield (TTM) 0.8% · Below median
Debt / equity 0.34× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 63.0× · Pricier than median
P/B 2.86× · Pricier than median
P/S (TTM) 4.00× · Pricier than median
P/FCF 0.8× · Cheaper than median
EV/EBITDA 26.1× · Pricier than median
PEG 5.28× · 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
VALUE0 · sector 0
FUTURE46 · sector 40
PAST21 · sector 25
HEALTH83 · sector 95
DIVIDEND17 · sector 24

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

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 13, 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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Frequently asked questions

Is Walsin Technology Corp (2492) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 68.50 TWD versus a price of 298.50 TWD, about −77% upside (overvalued).
What is the fair value of 2492?
Our model-based fair value for Walsin Technology Corp is 68.50 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price: 298.50 TWD.
What is the quality score of 2492?
Walsin Technology Corp has a Quality Score of 45/100. 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 Walsin Technology Corp (2492)?
Walsin Technology Corp reported trailing-twelve-month revenue of about 37.3B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2492?
The net profit margin of Walsin Technology Corp is about 6.8%, meaning it keeps roughly 6.8% of revenue as net income. Based on the latest reported figures.
Does Walsin Technology Corp pay a dividend?
Walsin Technology Corp currently shows a dividend yield of about 0.84% relative to its recent price (as of Aug 13, 2026).
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