Parade Technologies, Ltd.

TPEX:4966 Stock Report

Market Cap: NT$56.2b

Parade Technologies Valuation

Is 4966 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 4966 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4966 (NT$683) is trading below our estimate of fair value (NT$1069.99)

Significantly Below Fair Value: 4966 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4966?

Key metric: As 4966 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 4966. This is calculated by dividing 4966's market cap by their current earnings.
What is 4966's PE Ratio?
PE Ratio21.3x
EarningsNT$2.54b
Market CapNT$56.23b

Price to Earnings Ratio vs Peers

How does 4966's PE Ratio compare to its peers?

The above table shows the PE ratio for 4966 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.4x
3105 WIN Semiconductors
32.5x27.0%NT$49.0b
6147 Chipbond Technology
12.1x9.3%NT$47.9b
6531 AP Memory Technology
33.7x23.9%NT$48.8b
3374 Xintec
31.3x31.1%NT$51.6b
4966 Parade Technologies
21.3x22.3%NT$54.2b

Price-To-Earnings vs Peers: 4966 is good value based on its Price-To-Earnings Ratio (21.3x) compared to the peer average (27.4x).

Price to Earnings Ratio vs Industry

How does 4966's PE Ratio compare vs other companies in the TW Semiconductor Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
4944 Crystalwise Technology
4xn/aUS$15.69m
No more companies available in this PE range
4966 21.3xIndustry Avg. 31.2xNo. of Companies31PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 4966 is good value based on its Price-To-Earnings Ratio (21.3x) compared to the TW Semiconductor industry average (31.2x).

Price to Earnings Ratio vs Fair Ratio

What is 4966's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

4966 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.3x
Fair PE Ratio27.4x

Price-To-Earnings vs Fair Ratio: 4966 is good value based on its Price-To-Earnings Ratio (21.3x) compared to the estimated Fair Price-To-Earnings Ratio (27.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 4966 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$683.00
NT$788.46
+15.4%
17.0%NT$1,200.00NT$600.00n/a13
Nov ’25NT$676.00
NT$792.71
+17.3%
16.4%NT$1,200.00NT$600.00n/a14
Oct ’25NT$749.00
NT$861.29
+15.0%
16.1%NT$1,200.00NT$666.00n/a14
Sep ’25NT$803.00
NT$854.86
+6.5%
15.9%NT$1,200.00NT$666.00n/a14
Aug ’25NT$772.00
NT$903.15
+17.0%
14.5%NT$1,200.00NT$666.00n/a13
Jul ’25NT$820.00
NT$907.77
+10.7%
14.9%NT$1,200.00NT$666.00n/a13
Jun ’25NT$769.00
NT$933.38
+21.4%
12.6%NT$1,200.00NT$750.00n/a13
May ’25NT$749.00
NT$939.92
+25.5%
14.2%NT$1,285.00NT$750.00n/a13
Apr ’25NT$914.00
NT$1,280.71
+40.1%
11.2%NT$1,510.00NT$1,000.00n/a14
Mar ’25NT$1,025.00
NT$1,280.71
+24.9%
11.2%NT$1,510.00NT$1,000.00n/a14
Feb ’25NT$1,120.00
NT$1,155.71
+3.2%
14.3%NT$1,450.00NT$840.00n/a14
Jan ’25NT$1,200.00
NT$1,122.50
-6.5%
15.7%NT$1,450.00NT$840.00n/a14
Dec ’24NT$1,055.00
NT$1,096.07
+3.9%
13.2%NT$1,285.00NT$840.00n/a14
Nov ’24NT$1,040.00
NT$1,037.62
-0.2%
14.4%NT$1,285.00NT$839.00NT$676.0013
Oct ’24NT$984.00
NT$967.38
-1.7%
13.3%NT$1,270.00NT$800.00NT$749.0013
Sep ’24NT$874.00
NT$944.40
+8.1%
15.3%NT$1,200.00NT$600.00NT$803.0015
Aug ’24NT$926.00
NT$1,057.07
+14.2%
19.3%NT$1,400.00NT$600.00NT$772.0015
Jul ’24NT$1,075.00
NT$1,082.33
+0.7%
18.7%NT$1,400.00NT$600.00NT$820.0015
Jun ’24NT$1,015.00
NT$1,047.00
+3.2%
16.9%NT$1,400.00NT$600.00NT$769.0015
May ’24NT$938.00
NT$1,048.67
+11.8%
17.0%NT$1,400.00NT$600.00NT$749.0015
Apr ’24NT$1,050.00
NT$981.43
-6.5%
23.7%NT$1,290.00NT$500.00NT$914.0014
Mar ’24NT$995.00
NT$953.43
-4.2%
24.8%NT$1,290.00NT$500.00NT$1,025.0014
Feb ’24NT$920.00
NT$801.93
-12.8%
26.2%NT$1,133.00NT$480.00NT$1,120.0015
Jan ’24NT$773.00
NT$757.07
-2.1%
25.0%NT$1,133.00NT$480.00NT$1,200.0014
Dec ’23NT$838.00
NT$736.79
-12.1%
23.6%NT$1,133.00NT$480.00NT$1,055.0014
Nov ’23NT$595.00
NT$751.07
+26.2%
26.3%NT$1,150.00NT$480.00NT$1,040.0014

Analyst Forecast: Target price is less than 20% higher than the current share price.

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