Universal Microwave Technology (3491) Fair Value & Analysis
Technology · TW · Market cap 93.2B TWD (≈ $2.9B) · ISIN TW0003491007
What is Universal Microwave Technology really worth?
Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Below-average quality, and trading another 718% above our fair value of 184.03 TWD.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 16 valuation models · updated 6 days ago
Share price +41.3% 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 (228.99 TWD). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- 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)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range 52.42 TWD – 2,200 TWD · fair‑value band 131.31 TWD – 228.99 TWD · the 1,505 TWD price screens above the 184.03 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Universal Microwave Technology (3491) currently trades at 1,505 TWD, while our model-based Fair Value estimate is 184.03 TWD, implying the stock looks roughly 717.7% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of 187.59 TWD per share, and 0 of the 16 models we run sit above the 1,505 TWD price. Bear case: the Asset-Based group reads lowest at 35.23 TWD, and 16 of the 16 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Universal Microwave Technology generated revenue of 2.9B TWD at a net margin of 22.0%. Revenue grew 64.5% year over year. It earns a return on equity of 20.8%. The balance sheet holds a net cash position of 290M TWD. Fundamentals as of Aug 29, 2026
Our scenario range runs from 131.31 TWD (bear case) to 228.99 TWD (bull case); at 1,505 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 32% below its 52-week high, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −52% fair-value upside, at −88%, 3491 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 0.5436 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.
All 16 models by family
Widest divergence: Growth Earnings (187.59 TWD) versus Asset-Based (35.23 TWD). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 52
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
Universal Microwave Technology, Inc. manufactures and sells electronic components in Taiwan, Mainland China, Asia, Europe, the United States, and Oceania. The company operates through Microwave/Millimeter Wave Products; Radio Frequency Products; and Communication Network Engineering Services segment.
Full company description
Universal Microwave Technology, Inc. manufactures and sells electronic components in Taiwan, Mainland China, Asia, Europe, the United States, and Oceania. The company operates through Microwave/Millimeter Wave Products; Radio Frequency Products; and Communication Network Engineering Services segment. The company offers diplexers and multiplexers, filters, couplers, OMT products, industrial parts, antennas, radio frequency cables, radio frequency connectors, wire harnesses, waveguide and machined components, microwave, high-frequency communication components, antennas, and RF connectors. It also provides remote mount kit; circulator and isolator; interference filter; low-orbit satellites and microsatellites; telecommunications infrastructure equipment components and materials; communication equipment components; and other electronic components. In addition, the company is involved in the general investment businesses, and communication network engineering services. It serves millimeter wave and 5G, satcom and LEO, wireless backhaul, precision machining, and base station. Universal Microwave Technology, Inc. was founded in 1999 and is headquartered in Keelung, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Universal Microwave Technology reported revenue of 2.5B TWD in FY2025 versus 1.8B TWD in FY2021, a compound +8.7%/yr. Reported net income was 518M TWD in FY2025, compounding +21.7%/yr from FY2021.
3491 screens 718% overvalued. Compare with Cisco Systems, Inc →
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.
Valuation Multiples vs Communication Equipment 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: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 29, 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% |
| Accton Technology Corporation 2345 | 2,270 TWD | 1,135 TWD | −50% |
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