Wafer Works (6182) Fair Value & Analysis

Technology · TW · Market cap 112B TWD (≈ $3.5B) · ISIN TW0006182009

What is Wafer Works really worth?

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

• The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case (118.36 TWD). The market is more pessimistic than our downside scenario.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range 15.85 TWD – 189.50 TWD · fair‑value band 118.36 TWD – 196.84 TWD · the 111.00 TWD price screens below the 157.60 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Wafer Works (6182) currently trades at 111.00 TWD, while our model-based Fair Value estimate is 157.60 TWD, implying the stock looks roughly 29.6% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Technology sector. Bull case: the Asset-Based group reads highest at a median of 546.13 TWD per share, and 7 of the 16 models we run sit above the 111.00 TWD price. Bear case: the Earnings-Based group reads lowest at 18.01 TWD, and 9 of the 16 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Wafer Works generated revenue of 10.0B TWD at a net margin of 0.3%. Revenue grew 7.5% year over year. It earns a return on equity of 1.6%. Net debt stands at 4.2B TWD. Fundamentals as of Sep 5, 2026

Our scenario range runs from 118.36 TWD (bear case) to 196.84 TWD (bull case); at 111.00 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 near its 52-week high. For context, the median of 10 Technology peers we cover trades at −71% fair-value upside, at 42%, 6182 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 0.0609 TWD per share, which is 0.0 % 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.

Widest divergence: Asset-Based (546.13 TWD) versus Earnings-Based (18.01 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Wafer Works Corporation engages in the research, design, manufacturing, and sales of semiconductor silicon, semiconductor epitaxial, and compound semiconductor materials in Taiwan, Mainland China, the United States, and Internationally.

Full company description

Wafer Works Corporation engages in the research, design, manufacturing, and sales of semiconductor silicon, semiconductor epitaxial, and compound semiconductor materials in Taiwan, Mainland China, the United States, and Internationally. The company offers polished, epitaxial, and GaN epitaxial wafers; silicon-on-insulator; and customized wafers, such as GaN epitaxial wafers, double-sided wafers, epitaxial wafers, lapped wafers, etched wafers, ultra-thick wafers, and ultra-thin wafers. It is also involved in the provision of product technology consultation; and service business and import and export trade business. Wafer Works Corporation was incorporated in 1997 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

Wafer Works reported revenue of 9.8B TWD in FY2025 versus 10.3B TWD in FY2021, a compound −1.3%/yr. Reported net income was 51.9M TWD in FY2025, compounding −57.2%/yr from FY2021.

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Peer Group

Semiconductor Equipment & Materials · 213 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 Semiconductor Equipment & Materials 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.

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