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Mega Union Technology Inc (6944) Fair Value & Analysis

Industrials · TW · Market cap 77.1B TWD

MU Mega Union Technology Inc 6944 · TW
Price741.00 TWD
Fair Value539.58 TWD
Upside-27.2%
Quality61/100
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Healthy Growth
Solidly profitable · 14.7% net margin
Low debt · generates free cash flow
1.81% dividend yield
Ranks above peers (9/14)
Wide moat 80/100
Evidence: High Range 403.78 TWD – 1,264 TWD Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Share price −4.9% over the past month.

A solid business, but screening 27% overvalued on our models.

What matters now

  • The model range is unusually wide (403.78 TWD to 1,264 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (3 years)

998.00 TWD 55.40 TWD Fair Value 539.58 TWD Apr 2023 Aug 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

40‑month range 55.40 TWD – 998.00 TWD · fair‑value band 403.78 TWD – 1,264 TWD · the 741.00 TWD price screens above the 539.58 TWD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Mega Union Technology Inc (6944) currently trades at 741.00 TWD, while our model-based Fair Value estimate is 539.58 TWD, implying the stock looks roughly 27.2% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Mega Union Technology Inc generated revenue of 18.6B TWD at a net margin of 14.7%. Revenue grew 54.8% year over year. It earns a return on equity of 39.6%. Net debt stands at 277M TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 403.78 TWD (bear case) to 1,264 TWD (bull case); at 741.00 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 about 29% below its 52-week high and 84% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -31% fair-value upside, at -27%, 6944 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF 589.88 TWD 1,024 TWD 1,902 TWD 80
Residual Income 206.80 TWD 270.30 TWD 1,567 TWD 76
Rev-Margin DCF 453.82 TWD 803.47 TWD 1,416 TWD 74
All 26 models by family
DCF Models
FCF DCF 621.77 TWD 929.58 TWD 1,910 TWD 38
Owner Earnings 489.19 TWD 1,005 TWD 2,087 TWD 31
5Y Revenue Exit 453.82 TWD 712.87 TWD 1,247 TWD 39
5Y EBITDA Exit 535.83 TWD 880.34 TWD 1,548 TWD 41
5Y P/E Exit 595.41 TWD 1,209 TWD 2,038 TWD 38
10Y Revenue Exit 494.37 TWD 936.76 TWD 1,237 TWD 36
10Y EBITDA Exit 566.35 TWD 1,110 TWD 2,096 TWD 37
10Y P/E Exit 609.60 TWD 1,236 TWD 2,319 TWD 35
Earnings-Based
Graham-Dodd 210.29 TWD 1,467 TWD 2,058 TWD 54
Lynch FV 526.02 TWD 751.46 TWD 976.90 TWD 50
PEG = 1.0 526.02 TWD 751.46 TWD 976.90 TWD 46
EPV 389.44 TWD 440.16 TWD 484.55 TWD 59
Dividend Discount
Gordon GGM 127.91 TWD 265.95 TWD 421.90 TWD 70
DDM Multi-Stage 127.91 TWD 224.26 TWD 279.12 TWD 61
Multiples
P/E Multiple 487.06 TWD 649.41 TWD 811.76 TWD 63
P/S Multiple 330.81 TWD 441.08 TWD 551.36 TWD 58
P/B Multiple 353.24 TWD 470.98 TWD 588.73 TWD 55
EV/EBIT 600.85 TWD 772.78 TWD 944.70 TWD 53
EV/EBITDA 492.47 TWD 628.27 TWD 764.06 TWD 54
EV/Revenue 362.96 TWD 482.05 TWD 601.15 TWD 43
Asset-Based
NCAV (Graham) 52.33 TWD 70.12 TWD 104.66 TWD 50
Growth DCF
Growth DCF 589.88 TWD 1,024 TWD 1,902 TWD 80
Rev-Margin DCF 453.82 TWD 803.47 TWD 1,416 TWD 74
Economic Profit
Residual Income 206.80 TWD 270.30 TWD 1,567 TWD 76
ROIC Compounder 411.70 TWD 493.31 TWD 585.13 TWD 72
Growth Earnings
Growth-Adj P/E 680.51 TWD 972.15 TWD 1,264 TWD 68

Widest divergence: Growth Earnings (972.15 TWD) versus Asset-Based (70.12 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 18.6B TWD
Revenue growth (YoY) +54.8%
Net margin 14.7%
Return on equity 39.6%
Free cash flow 2.4B TWD FY2025
P/E ratio 23.5
More key figures
Operating margin 22.5%
EPS (TTM) 31.48 TWD
Dividend yield 1.8%
EPS growth (YoY) +53.3%
Net debt 277M TWD FY2022

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 63 · Market factors (momentum, volatility) 70

Profitability 75
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 82
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 18
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.

About the company

Mega Union Technology Inc. engages in the planning, design, and installation of water and wastewater recycling systems in Taiwan, Singapore, the United States, Mainland China, and internationally. It provides pure water engineering system, wastewater engineering system, water recycling engineering system, and chemical recycling manufacturing systems.

Full company description

Mega Union Technology Inc. engages in the planning, design, and installation of water and wastewater recycling systems in Taiwan, Singapore, the United States, Mainland China, and internationally. It provides pure water engineering system, wastewater engineering system, water recycling engineering system, and chemical recycling manufacturing systems. The company also offers film cleaning and resin regeneration services; water treatment solutions and laboratory services; and drug delivery and filling services, chemical application test analysis, and dosage effect evaluation services. In addition, it offers sale and replacement of components and consumables, including filter materials, filter core, membranes, meters, and other equipment; and sells water treatment chemicals. The company was founded in 2004 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

Mega Union Technology Inc reported revenue of 16.9B TWD in FY2025 versus 7.7B TWD in FY2021, a compound +21.9%/yr. Reported net income was 2.4B TWD in FY2025, compounding +86.0%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
16.9B TWD
Latest YoY
+64.2%
Avg. 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.
+19.0%
Revenue +21.9%/yr
FY21 7.7B TWD
FY22 10.0B TWD
FY23 9.0B TWD
FY24 10.3B TWD
FY25 16.9B TWD
Net income +86.0%/yr
FY21 198M TWD
FY22 395M TWD
FY23 1.1B TWD
FY24 1.5B TWD
FY25 2.4B TWD

6944 screens 27% overvalued. Compare with Veralto Corporation →

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Cite: Fair Value Calculator (2026). "Mega Union Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/6944

Peer Group

Pollution & Treatment Controls · 91 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 61 · Top 25%
Fair Value upside −27% · Above median
Return on equity (TTM) 40% · Top 25%
Return on assets 16% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 23% · Top 25%
Revenue growth 55% · Top 25%
Dividend yield (TTM) 1.8% · Below median
Debt / equity 0.02× · Lower than 75% of peers

Valuation Multiples vs Pollution & Treatment Controls median · lower = cheaper

P/E (TTM) 23.5× · Cheaper than median
P/B 9.60× · Pricier than 75% of peers
P/S (TTM) 4.15× · Pricier than 75% of peers
P/FCF 1.0× · Cheaper than 75% of peers
EV/EBITDA 19.0× · Pricier than median

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 · sector 0
FUTURE 100 · sector 7
PAST 100 · sector 16
HEALTH 99 · sector 95
DIVIDEND 36 · sector 37

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Pollution & Treatment Controls stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Veralto Corporation VLTO $97.97 $67.62 -31%
Zurn Elkay Water Solutions Corporation ZWS $51.02 $24.92 -51%
Canmax Technologies Co 300390 ¥64.05 ¥10.07 -84%
CECO Environmental Corp CECO $73.97 $15.19 -79%
Fujian Longking Co 600388 ¥18.10 ¥15.59 -14%
Munters Group MTRS kr 183.90 kr 48.58 -74%
China Conch Venture Holdings 0586 HK$8.69 HK$10.70 +23%
MayAir Technology (China) Co 688376 ¥71.82 ¥18.80 -74%
Jingjin Equipment Inc 603279 ¥12.75 ¥18.97 +49%
Zhongyuan Environmental Protection Co 000544 ¥7.39 ¥15.46 +109%

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Frequently asked questions

Is Mega Union Technology Inc (6944) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 539.58 TWD versus a price of 741.00 TWD, about −27% (overvalued).
What is the fair value of 6944?
Our model-based fair value for Mega Union Technology Inc is 539.58 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price is 741.00 TWD.
What is the quality score of 6944?
Mega Union Technology Inc has a Quality Score of 61/100. 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 Mega Union Technology Inc (6944)?
Mega Union Technology Inc reported trailing-twelve-month revenue of about 18.6B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 6944?
The net profit margin of Mega Union Technology Inc is about 14.7%, meaning it keeps roughly 14.7% of revenue as net income. Based on the latest reported figures.
Does Mega Union Technology Inc pay a dividend?
Mega Union Technology Inc currently shows a dividend yield of about 1.81% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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