MPI Corporation

TPEX:6223 Stock Report

Market Cap: NT$70.4b

MPI Valuation

Is 6223 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • 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 6223 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6223 (NT$747) is trading above our estimate of fair value (NT$421.85)

Significantly Below Fair Value: 6223 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 6223?

Key metric: As 6223 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 6223. This is calculated by dividing 6223's market cap by their current earnings.
What is 6223's PE Ratio?
PE Ratio37.6x
EarningsNT$1.87b
Market CapNT$70.39b

Price to Earnings Ratio vs Peers

How does 6223's PE Ratio compare to its peers?

The above table shows the PE ratio for 6223 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average36.5x
5483 Sino-American Silicon Products
14.1x18.4%NT$100.4b
5434 Topco ScientificLtd
17.1x16.3%NT$57.5b
6515 WinWay Technology
50.8x53.6%NT$45.0b
3131 Grand Process Technology
63.9x50.5%NT$50.0b
6223 MPI
37.6x26.7%NT$70.4b

Price-To-Earnings vs Peers: 6223 is expensive based on its Price-To-Earnings Ratio (37.6x) compared to the peer average (36.5x).

Price to Earnings Ratio vs Industry

How does 6223'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
6223 37.6xIndustry Avg. 30.5xNo. of Companies30PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 6223 is expensive based on its Price-To-Earnings Ratio (37.6x) compared to the TW Semiconductor industry average (30.5x).

Price to Earnings Ratio vs Fair Ratio

What is 6223'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.

6223 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio37.6x
Fair PE Ratio34.5x

Price-To-Earnings vs Fair Ratio: 6223 is expensive based on its Price-To-Earnings Ratio (37.6x) compared to the estimated Fair Price-To-Earnings Ratio (34.5x).

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 6223 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$747.00
NT$828.00
+10.8%
16.0%NT$917.00NT$600.00n/a4
Nov ’25NT$789.00
NT$701.25
-11.1%
8.5%NT$755.00NT$600.00n/a4
Oct ’25NT$764.00
NT$701.25
-8.2%
8.5%NT$755.00NT$600.00n/a4
Sep ’25NT$768.00
NT$701.25
-8.7%
8.5%NT$755.00NT$600.00n/a4
Aug ’25NT$553.00
NT$552.25
-0.1%
6.4%NT$600.00NT$500.00n/a4
Jul ’25NT$548.00
NT$547.25
-0.1%
5.3%NT$580.00NT$500.00n/a4
Jun ’25NT$482.00
NT$513.00
+6.4%
9.0%NT$555.00NT$443.00n/a4
May ’25NT$443.00
NT$404.33
-8.7%
7.4%NT$443.00NT$370.00n/a3
Apr ’25NT$321.00
NT$385.00
+19.9%
3.9%NT$400.00NT$370.00n/a2
Mar ’25NT$326.00
NT$286.33
-12.2%
21.9%NT$370.00NT$219.00n/a3
Feb ’25NT$278.50
NT$256.33
-8.0%
10.4%NT$280.00NT$219.00n/a3
Jan ’25NT$217.50
NT$244.50
+12.4%
10.4%NT$270.00NT$219.00n/a2
Dec ’24NT$216.00
NT$244.50
+13.2%
10.4%NT$270.00NT$219.00n/a2
Nov ’24NT$186.00
NT$213.00
+14.5%
2.8%NT$219.00NT$207.00NT$789.002
Oct ’24NT$205.00
NT$213.00
+3.9%
2.8%NT$219.00NT$207.00NT$764.002
Sep ’24NT$191.50
NT$213.00
+11.2%
2.8%NT$219.00NT$207.00NT$768.002

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

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