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VisEra Technologies Co. Ltd. (6789) Fair Value & Analysis

Technology · TW · Market cap 167B TWD (≈ $5.3B) · ISIN TW0006789001

What is VisEra Technologies Co. Ltd. really worth?

VT VisEra Technologies Co. Ltd. 6789 · TW
Price468.00 TWD
Fair Value102.40 TWD
Upside−78.1%
Quality62/100

A solid business, but trading 357% above our fair value of 102.40 TWD.

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Strengths

Solidly profitable · 16.3% net margin
Low debt · generates free cash flow

Risks

!Expensive Growth (revenue 5y +5.2 %/yr)
!Mixed vs. peers (6/14)
!Moderate moat 57/100
!Weak on dividend: 13 out of 100

For context

·0.64% dividend yield
Evidence: High Range 84.05 TWD – 120.56 TWD

Fair value as of: Sep 3, 2026

From 26 valuation models · updated yesterday

Share price +3.2% 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 (120.56 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

607.59 TWD 161.68 TWD Fair Value 102.40 TWD Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

60‑month range 161.68 TWD – 607.59 TWD · fair‑value band 84.05 TWD – 120.56 TWD · the 468.00 TWD price screens above the 102.40 TWD fair value. Dashed = 300-day average. As of Sep 3, 2026.

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Analysis

VisEra Technologies Co. Ltd. (6789) currently trades at 468.00 TWD, while our model-based Fair Value estimate is 102.40 TWD, implying the stock looks roughly 357.0% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of 137.55 TWD per share, and 0 of the 26 models we run sit above the 468.00 TWD price. Bear case: the Earnings-Based group reads lowest at 22.65 TWD, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, VisEra Technologies Co. Ltd. generated revenue of 9.1B TWD at a net margin of 16.3%. Revenue grew 8.0% year over year. It earns a return on equity of 8.0%. The balance sheet holds a net cash position of 9.5B TWD. Fundamentals as of Sep 3, 2026

Our scenario range runs from 84.05 TWD (bear case) to 120.56 TWD (bull case); at 468.00 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 27% below its 52-week high and 139% 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 −78%, 6789 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 0.6767 TWD per share, which is 0.7 % 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 (22.65 TWD to 229.39 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
FCF DCF 99.35 TWD 132.95 TWD 183.06 TWD 81
Growth DCF 100.74 TWD 130.96 TWD 173.56 TWD 80
Owner Earnings 102.39 TWD 137.55 TWD 190.00 TWD 77
All 26 models by family
DCF Models
FCF DCF 99.35 TWD 132.95 TWD 183.06 TWD 81
Owner Earnings 102.39 TWD 137.55 TWD 190.00 TWD 77
5Y Revenue Exit 74.24 TWD 90.88 TWD 111.16 TWD 74
5Y EBITDA Exit 141.04 TWD 213.73 TWD 297.71 TWD 75
5Y P/E Exit 105.45 TWD 148.28 TWD 192.37 TWD 71
10Y Revenue Exit 82.02 TWD 99.11 TWD 120.34 TWD 68
10Y EBITDA Exit 125.14 TWD 183.63 TWD 260.50 TWD 68
10Y P/E Exit 102.61 TWD 138.60 TWD 181.36 TWD 65
Earnings-Based
Graham-Dodd 27.22 TWD 77.57 TWD 102.21 TWD 65
Lynch FV 15.86 TWD 22.65 TWD 29.45 TWD 61
PEG = 1.0 15.86 TWD 22.65 TWD 29.45 TWD 57
EPV 58.03 TWD 61.96 TWD 65.41 TWD 74
Dividend Discount
Gordon GGM 27.46 TWD 57.10 TWD 90.58 TWD 66
DDM Multi-Stage 27.46 TWD 43.73 TWD 59.93 TWD 66
Multiples
P/E Multiple 84.05 TWD 112.07 TWD 140.09 TWD 63
P/S Multiple 51.03 TWD 68.04 TWD 85.05 TWD 58
P/B Multiple 51.03 TWD 68.04 TWD 85.05 TWD 55
EV/EBIT 88.89 TWD 107.05 TWD 125.21 TWD 66
EV/EBITDA 180.65 TWD 229.39 TWD 278.14 TWD 67
EV/Revenue 61.96 TWD 73.76 TWD 85.56 TWD 54
Asset-Based
NCAV (Graham) 28.94 TWD 38.78 TWD 57.88 TWD 54
Growth DCF
Growth DCF 100.74 TWD 130.96 TWD 173.56 TWD 80
Rev-Margin DCF 74.24 TWD 91.73 TWD 111.68 TWD 74
Economic Profit
Residual Income 47.26 TWD 49.94 TWD 53.15 TWD 76
ROIC Compounder 58.06 TWD 63.93 TWD 71.27 TWD 72
Growth Earnings
Growth-Adj P/E 65.89 TWD 94.13 TWD 122.36 TWD 67

Widest divergence: DCF Models (137.55 TWD) versus Earnings-Based (22.65 TWD). Highest evidence: FCF DCF (81).

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Key figures & financial health

P/E ratio 129.6
P/S ratio 18.5 P/E × margin
EPS (TTM) 3.61 TWD price ÷ EPS = P/E 129.6
Dividend yield 0.6% payout 83.1%
Net margin 14.3% FY2025
Return on equity 8.0% TTM
More key figures
Profitability
Return on assets (EBIT) 8.0% avg 5y
Operating margin 22.8% TTM
Growth
Revenue (TTM) 9.1B TWD TTM
Revenue growth (YoY) +8.0% 3y avg −0.5%
EPS growth (YoY) +75.5%
Balance sheet & cash flow
Free cash flow 1.9B TWD FY2025
Net cash 9.5B TWD FY2025

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 62 · Market factors (momentum, volatility) 52

Profitability 36
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 1
Calm price path (market factor)
Momentum 69
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 77
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

VisEra Technologies Company Ltd. manufactures and sells electronic spare parts in Taiwan, rest of Asia, Europe, and the United States. The company engages in designing, researching, developing, manufacturing, packaging, testing, and selling of color filters.

Full company description

VisEra Technologies Company Ltd. manufactures and sells electronic spare parts in Taiwan, rest of Asia, Europe, and the United States. The company engages in designing, researching, developing, manufacturing, packaging, testing, and selling of color filters. It also offers image sensors, optical finger print sensors, light sensors, and time of flight sensors; and wafer level testing and wafer level optical thin film services. In addition, the company provides optical component manufacturing, simulation, integration, wafer level characterization, and customized services. Its products are used in automotive, security, augmented and virtual reality, and smart home applications, as well as mobile phones and biomedical sensors. The company was incorporated in 2003 and is headquartered in Hsinchu City, Taiwan. VisEra Technologies Company Ltd. operates as a subsidiary of Taiwan Semiconductor Manufacturing Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

VisEra Technologies Co. Ltd. reported revenue of 8.9B TWD in FY2025 versus 9.0B TWD in FY2021, a compound −0.3%/yr. Reported net income was 1.3B TWD in FY2025, compounding −12.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
8.9B TWD
Latest YoY
−10.6%
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.
−0.5%
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.
+5.2%
Avg. revenue growth/yr (6Y) 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.
+17.5%
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.
−9.4% (−10.0 + 0.6)
Revenue −0.3%/yr
FY21 9.0B TWD
FY22 9.1B TWD
FY23 7.2B TWD
FY24 10.0B TWD
FY25 8.9B TWD
Net income −12.4%/yr
FY21 2.2B TWD
FY22 1.8B TWD
FY23 356M TWD
FY24 1.7B TWD
FY25 1.3B TWD

6789 screens 357% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "VisEra Technologies Co. Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/6789

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 62 · Above median
Fair Value upside −78% · Bottom 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 16% · Above median
Operating margin (TTM) 23% · Top 25%
Revenue growth 8% · Below median
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 129.6× · Pricier than 75% of peers
P/B 9.07× · Pricier than 75% of peers
P/S (TTM) 18.34× · Pricier than 75% of peers
P/FCF 2.8× · Pricier than median
EV/EBITDA 41.3× · Pricier than median

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
FUTURE40 · sector 65
PAST32 · sector 25
HEALTH98 · sector 96
DIVIDEND13 · 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 Sep 3, 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 VisEra Technologies Co. Ltd. (6789) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of 102.40 TWD versus a price of 468.00 TWD, about −78% upside (overvalued).
What is the fair value of 6789?
Our model-based fair value for VisEra Technologies Co. Ltd. is 102.40 TWD (as of Sep 3, 2026), built from audited fundamentals. The current price: 468.00 TWD.
What is the quality score of 6789?
VisEra Technologies Co. Ltd. has a Quality Score of 62/100. 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 VisEra Technologies Co. Ltd. (6789)?
VisEra Technologies Co. Ltd. reported trailing-twelve-month revenue of about 9.1B TWD (latest available figure, as of Sep 3, 2026).
What is the net profit margin of 6789?
The net profit margin of VisEra Technologies Co. Ltd. is about 16.3%, meaning it keeps roughly 16.3% of revenue as net income. Based on the latest reported figures.
Does VisEra Technologies Co. Ltd. pay a dividend?
VisEra Technologies Co. Ltd. currently shows a dividend yield of about 0.64% relative to its recent price (as of Sep 3, 2026).
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