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GlobalWafers Co Ltd (6488) Fair Value & Analysis

Technology · TW · Market cap 710B TWD (≈ $22.4B) · ISIN TW0006488000

What is GlobalWafers Co Ltd really worth?

GC GlobalWafers Co Ltd 6488 · TWO
Price981.00 TWD
Fair Value388.64 TWD
Upside−60.4%
Quality43/100

Below-average quality, and trading another 152% above our fair value of 388.64 TWD.

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Strengths

Solidly profitable · 13.1% net margin

Risks

!Weak Growth (revenue 5y +1.8 %/yr)
!Low debt · negative free cash flow
!Trails peers (3/14)
!Moderate moat 46/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 16 out of 100

For context

·0.78% dividend yield
Evidence: Medium Range 256.59 TWD – 520.70 TWD

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from 259.99 TWD to 388.64 TWD (+49.5%) since Jul 14, 2026. Share price +12.5% 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 (520.70 TWD). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (256.59 TWD to 520.70 TWD) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

1,509 TWD 256.16 TWD Fair Value 388.64 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 256.16 TWD – 1,509 TWD · fair‑value band 256.59 TWD – 520.70 TWD · the 981.00 TWD price screens above the 388.64 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

GlobalWafers Co Ltd (6488) currently trades at 981.00 TWD, while our model-based Fair Value estimate is 388.64 TWD, implying the stock looks roughly 152.4% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of 368.86 TWD per share, and 0 of the 16 models we run sit above the 981.00 TWD price. Bear case: the Economic Profit group reads lowest at 56.55 TWD, and 16 of the 16 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, GlobalWafers Co Ltd generated revenue of 59.0B TWD at a net margin of 13.1%. Revenue declined 10.3% year over year. It earns a return on equity of 8.4%. Net debt stands at 54.8B TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 256.59 TWD (bear case) to 520.70 TWD (bull case); at 981.00 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 6% below its 52-week high and 261% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −59% fair-value upside, at −60%, 6488 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 5.11 TWD per share, which is 1.3 % 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (56.55 TWD to 612.32 TWD). Read the values as a conservative anchor, not as a price target.
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
Residual Income best evidence 165.71 TWD 178.55 TWD 207.41 TWD 76
EPV 40.61 TWD 56.55 TWD 70.72 TWD 73
ROIC Compounder 40.61 TWD 56.55 TWD 70.72 TWD 72
All 16 models by family
Earnings-Based
Graham-Dodd 104.00 TWD 322.40 TWD 428.61 TWD 65
Lynch FV 69.91 TWD 99.87 TWD 129.83 TWD 61
PEG = 1.0 69.91 TWD 99.87 TWD 129.83 TWD 57
EPV 40.61 TWD 56.55 TWD 70.72 TWD 73
Dividend Discount
Gordon GGM 105.81 TWD 231.00 TWD 388.67 TWD 65
DDM Multi-Stage 105.81 TWD 178.08 TWD 240.74 TWD 66
Multiples
P/E Multiple 321.16 TWD 428.22 TWD 535.27 TWD 63
P/S Multiple 194.99 TWD 259.99 TWD 324.99 TWD 58
P/B Multiple 194.99 TWD 259.99 TWD 324.99 TWD 55
EV/EBIT 275.42 TWD 383.79 TWD 492.16 TWD 66
EV/EBITDA 446.81 TWD 612.32 TWD 777.82 TWD 67
EV/Revenue 114.67 TWD 185.11 TWD 255.55 TWD 53
Asset-Based
NCAV (Graham) 97.57 TWD 130.74 TWD 195.14 TWD 54
Economic Profit
Residual Income best evidence 165.71 TWD 178.55 TWD 207.41 TWD 76
ROIC Compounder 40.61 TWD 56.55 TWD 70.72 TWD 72
Growth Earnings
Growth-Adj P/E 258.20 TWD 368.86 TWD 479.52 TWD 67

Widest divergence: Growth Earnings (368.86 TWD) versus Economic Profit (56.55 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 64.3
P/S ratio 7.76 P/E × margin
EPS (TTM) 15.25 TWD price ÷ EPS = P/E 64.3
Dividend yield 0.8% payout 50.5%
Net margin 12.1% FY2025
Return on equity 8.4% TTM
More key figures
Profitability
Return on assets (EBIT) 8.8% avg 5y
Operating margin 10.6% TTM
Growth
Revenue (TTM) 59.0B TWD TTM
Revenue growth (YoY) −10.3% 3y avg −4.8%
EPS growth (YoY) +30.3%
Balance sheet & cash flow
Free cash flow −20.8B TWD FY2025
Net debt 54.8B TWD FY2025

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

Quality Score breakdown

Overall quality 43/100

Of which business quality 44 · Market factors (momentum, volatility) 62

Profitability 30
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 19
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 95
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 76
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

GlobalWafers Co., Ltd., together with its subsidiaries, researches, develops, designs, manufactures and sells semiconductor ingots/wafers in Taiwan and internationally. The company offers Epi wafers, polished wafers, diffusion wafers, annealed wafers, SOI wafers, FZ wafers, and compound wafers, as well as epitaxial wafer and silicon ingot.

Full company description

GlobalWafers Co., Ltd., together with its subsidiaries, researches, develops, designs, manufactures and sells semiconductor ingots/wafers in Taiwan and internationally. The company offers Epi wafers, polished wafers, diffusion wafers, annealed wafers, SOI wafers, FZ wafers, and compound wafers, as well as epitaxial wafer and silicon ingot. It also provides technical and management information consulting services. The company was founded in 1981 and is based in Hsinchu City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

GlobalWafers Co Ltd reported revenue of 60.6B TWD in FY2025 versus 61.1B TWD in FY2021, a compound −0.2%/yr. Reported net income was 7.3B TWD in FY2025, compounding −11.4%/yr from FY2021.

Growth Quality 22/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
60.6B 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.
−4.8%
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.
+1.8%
Avg. revenue growth/yr (13Y) 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.
+11.9%
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.
−11.8% (−12.6 + 0.8)
Revenue −0.2%/yr
FY21 61.1B TWD
FY22 70.3B TWD
FY23 70.7B TWD
FY24 62.6B TWD
FY25 60.6B TWD
Net income −11.4%/yr
FY21 11.9B TWD
FY22 15.4B TWD
FY23 19.8B TWD
FY24 9.8B TWD
FY25 7.3B TWD
Character of growth · EPS growth decomposed (2012-2023) +22.8 % p.a.
Revenue per share +13.1 %

of which total revenue +18.0 % · buybacks/dilution −4.2 %

EBIT margin +9.8 %
Tax rate −1.9 %
Residual (interest, one-offs) +0.8 %

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).

6488 screens 152% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "GlobalWafers Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6488

Peer Group

Semiconductors · 325 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 43 · Bottom 25%
Fair Value upside −60% · Below median
Return on equity (TTM) 8% · Above median
Return on assets 2% · Below median
Net margin (TTM) 13% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth −10% · Bottom 25%
Dividend yield (TTM) 0.8% · Below median
Debt / equity 0.46× · Higher than 75% of peers

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 64.3× · Pricier than median
P/B 7.61× · Pricier than 75% of peers
P/S (TTM) 12.04× · Pricier than 75% of peers
EV/EBITDA 45.2× · Pricier than 75% of peers
PEG 2.72× · 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
FUTURE0 · sector 65
PAST34 · sector 25
HEALTH77 · sector 96
DIVIDEND16 · sector 18

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

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $227.98 $98.98 −57%
Taiwan Semiconductor Manufacturing Company TSM $427.30 $296.10 −31%
Broadcom Inc AVGO $371.54 $118.27 −68%
SK hynix Inc 000660 1,647,000 KRW 1,481,291 KRW −10%
Micron Technology, Inc MU $932.86 $148.38 −84%
Advanced Micro Devices, Inc AMD $476.67 $55.02 −88%
Intel Corporation INTC $92.09 $35.41 −62%
Texas Instruments Incorporated TXN $266.54 $78.54 −71%
QUALCOMM Incorporated QCOM $164.78 $147.20 −11%
MediaTek Inc 2454 3,845 TWD 1,559 TWD −59%

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Frequently asked questions

Is GlobalWafers Co Ltd (6488) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 388.64 TWD versus a price of 981.00 TWD, about −60% upside (overvalued).
What is the fair value of 6488?
Our model-based fair value for GlobalWafers Co Ltd is 388.64 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price: 981.00 TWD.
What is the quality score of 6488?
GlobalWafers Co Ltd has a Quality Score of 43/100. 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 GlobalWafers Co Ltd (6488)?
GlobalWafers Co Ltd reported trailing-twelve-month revenue of about 59.0B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 6488?
The net profit margin of GlobalWafers Co Ltd is about 13.1%, meaning it keeps roughly 13.1% of revenue as net income. Based on the latest reported figures.
Does GlobalWafers Co Ltd pay a dividend?
GlobalWafers Co Ltd currently shows a dividend yield of about 0.78% relative to its recent price (as of Aug 13, 2026).
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