Topco Scientific Co Ltd (5434) Fair Value & Analysis
Technology · TW · Market cap 108B TWD (≈ $3.4B) · ISIN TW0005434005
What is Topco Scientific Co Ltd really worth?
A solid business, but trading 14% above our fair value of 473.70 TWD.
Strengths
Risks
For context
Fair value as of: Aug 17, 2026
From 26 valuation models · updated 19 days ago
Share price +5.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A fairly wide model range (309.73 TWD to 588.56 TWD) leaves room in how you read the outcome.
- The price sits in the upper half of our model range, so the margin of safety is thin.
- The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 17, 2026.
How to read this chart
60‑month range 93.61 TWD – 596.00 TWD · fair‑value band 309.73 TWD – 588.56 TWD · the 538.00 TWD price screens above the 473.70 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 17, 2026.
Analysis
Topco Scientific Co Ltd (5434) currently trades at 538.00 TWD, while our model-based Fair Value estimate is 473.70 TWD, implying the stock looks roughly 13.6% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of 535.99 TWD per share, and 7 of the 26 models we run sit above the 538.00 TWD price. Bear case: the Asset-Based group reads lowest at 69.19 TWD, and 19 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Topco Scientific Co Ltd generated revenue of 70.4B TWD at a net margin of 6.5%. Revenue grew 17.6% year over year. It earns a return on equity of 25.3%. The balance sheet holds a net cash position of 2.8B TWD. Fundamentals as of Aug 17, 2026
Our scenario range runs from 309.73 TWD (bear case) to 588.56 TWD (bull case); at 538.00 TWD, the current price sits within 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 near its 52-week high and 109% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −21% fair-value upside, at −12%, 5434 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 6.68 TWD per share, which is 1.4 % 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 26 models by family
Widest divergence: DCF Models (535.99 TWD) versus Asset-Based (69.19 TWD). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 81
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
Topco Scientific Co.,Ltd. provides precision materials, manufacturing equipment, and components worldwide. The company offers quartz wafer carrier plates, such as synthetic quartz wafer and quartz substrate; furnace quartz, and quartz crucible for single crystal and polycrystalline; and chemicals, such as CMP, photoresist, and specialty gases, and chemicals.
Full company description
Topco Scientific Co.,Ltd. provides precision materials, manufacturing equipment, and components worldwide. The company offers quartz wafer carrier plates, such as synthetic quartz wafer and quartz substrate; furnace quartz, and quartz crucible for single crystal and polycrystalline; and chemicals, such as CMP, photoresist, and specialty gases, and chemicals. It also provides wafers, wafer carriers, and wafer related supplies; photomask and mask carriers; electronic materials, such as protective, packaging, thermal conductive, conductive, and special application materials; SiC and GaN epi wafers and substrates, and Sic reclaim wafers; power device electrical analysis instruments; and IC foundry services. In addition, the company offers turbo compressors and blowers, metal additive manufacturing equipment, atmospheric pressure plasma, horizontal and vertical tube cleaner, high pressure clean system, fire extinguishing systems, and organic solvent dehydration and recycling system, as well as LCD related equipment and services. Further, the company engages in wholesale sale of chemicals; provision of sports training services; wholesale of semiconductor materials, optoelectronic components, and electronic products; wholesale and retail of aquatic products; trading of food; project business development of renewable energy; piping engineering and electrical installation; solar system engineering activities; antifouling treatment agents and light blocking materials; sale of renewable electricity; operation of supermarkets; restaurant management; vacuum pump equipment waste removal maintenance; planning, evaluation of environmental-related projects; international trading; sale and design of integrated circuits; and waste water and clean room environmental engineering activities. It serves semiconductors, package and testing, semiconductor equipment, electronics, LCD, LED, and solar industries. The company was incorporated in 1990 and is headquartered in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Topco Scientific Co Ltd reported revenue of 67.6B TWD in FY2025 versus 42.7B TWD in FY2021, a compound +12.2%/yr. Reported net income was 4.2B TWD in FY2025, compounding +16.2%/yr from FY2021.
of which total revenue +12.6 % · buybacks/dilution −1.5 %
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).
5434 screens 14% overvalued. Compare with TD SYNNEX Corporation →
Peer Group
Electronics & Computer Distribution · 153 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 Electronics & Computer Distribution 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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Electronics & Computer Distribution stocks, each showing price versus our Fair Value estimate (as of Aug 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| TD SYNNEX Corporation SNX | $262.53 | $289.83 | +10% |
| Unisplendour Corporation 000938 | ¥39.60 | ¥16.52 | −58% |
| Rexel S.A RXL | €35.43 | €32.05 | −10% |
| Arrow Electronics, Inc ARW | $203.92 | $114.08 | −44% |
| Avnet, Inc AVT | $97.31 | $77.07 | −21% |
| WPG Holdings 3702 | 123.50 TWD | 148.26 TWD | +20% |
| Nanjing Sunlord Electronics Corporation 300975 | ¥25.02 | ¥12.34 | −51% |
| Shenzhen Huaqiang Industry Co 000062 | ¥22.20 | ¥7.52 | −66% |
| Insight Enterprises, Inc NSIT | $150.63 | $118.72 | −21% |
| Shenzhen H&T Intelligent Control Co. 002402 | ¥18.95 | ¥20.12 | +6% |
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