Winbond Electronics Corporation

TWSE:2344 Stock Report

Market Cap: NT$78.1b

Winbond Electronics Valuation

Is 2344 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2344 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
NT$21.41
Fair Value
18.9% undervalued intrinsic discount
6
Number of Analysts

Below Fair Value: 2344 (NT$17.35) is trading below our estimate of fair value (NT$21.41)

Significantly Below Fair Value: 2344 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2344?

Key metric: As 2344 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 2344. This is calculated by dividing 2344's market cap by their current revenue.
What is 2344's PS Ratio?
PS Ratio1x
SalesNT$81.48b
Market CapNT$78.08b

Price to Sales Ratio vs Peers

How does 2344's PS Ratio compare to its peers?

The above table shows the PS ratio for 2344 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.3x
6239 Powertech Technology
1.2x7.82%NT$86.2b
6176 Radiant Opto-Electronics
1.3x-4.71%NT$68.7b
6526 Airoha Technology
4.2x13.78%NT$85.6b
6789 VisEra Technologies
6.7x8.03%NT$67.3b
2344 Winbond Electronics
1x6.39%NT$78.1b

Price-To-Sales vs Peers: 2344 is good value based on its Price-To-Sales Ratio (1x) compared to the peer average (3.3x).

Price to Sales Ratio vs Industry

How does 2344's PS Ratio compare vs other companies in the TW Semiconductor Industry?

8 CompaniesPrice / SalesEstimated GrowthMarket Cap
6120 Darwin Precisions
0.4xn/aUS$254.85m
8096 CoAsia Electronics
0.2xn/aUS$246.15m
4967 Team Group
0.3xn/aUS$202.56m
3346 Laster Tech
0.3x7.73%US$105.70m
2344 1.0xIndustry Avg. 2.9xNo. of Companies37PS0246810+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 2344 is good value based on its Price-To-Sales Ratio (1x) compared to the TW Semiconductor industry average (2.9x).

Price to Sales Ratio vs Fair Ratio

What is 2344's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2344 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1x
Fair PS Ratio2.2x

Price-To-Sales vs Fair Ratio: 2344 is good value based on its Price-To-Sales Ratio (1x) compared to the estimated Fair Price-To-Sales Ratio (2.2x).

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 2344 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$17.35
NT$25.03
+44.28%
24.32%NT$33.00NT$17.00n/a6
May ’26NT$15.75
NT$25.03
+58.94%
24.32%NT$33.00NT$17.00n/a6
Apr ’26NT$18.10
NT$23.98
+32.50%
32.15%NT$33.00NT$10.70n/a6
Mar ’26NT$18.70
NT$21.82
+16.67%
40.62%NT$33.00NT$10.70n/a6
Feb ’26n/a
NT$22.14
0%
41.47%NT$33.00NT$10.70n/a5
Jan ’26NT$14.80
NT$27.10
+83.11%
20.09%NT$33.00NT$17.50n/a5
Dec ’25NT$16.05
NT$27.10
+68.85%
20.09%NT$33.00NT$17.50n/a5
Nov ’25NT$19.35
NT$27.10
+40.05%
20.09%NT$33.00NT$17.50n/a5
Oct ’25NT$21.00
NT$27.10
+29.05%
20.09%NT$33.00NT$17.50n/a5
Sep ’25NT$24.05
NT$28.57
+18.78%
11.12%NT$33.00NT$24.83n/a5
Aug ’25NT$23.30
NT$30.49
+30.85%
10.77%NT$33.00NT$24.83n/a6
Jul ’25NT$25.50
NT$30.52
+19.67%
10.60%NT$33.00NT$25.00n/a6
Jun ’25NT$25.00
NT$31.85
+27.40%
6.77%NT$33.00NT$27.10n/a6
May ’25NT$26.00
NT$31.85
+22.50%
6.77%NT$33.00NT$27.10NT$15.756
Apr ’25NT$27.45
NT$31.85
+16.03%
6.77%NT$33.00NT$27.10NT$18.106
Mar ’25NT$27.70
NT$31.85
+14.98%
6.77%NT$33.00NT$27.10NT$18.706
Feb ’25NT$27.35
NT$31.65
+15.72%
7.06%NT$33.00NT$27.25n/a5
Jan ’25NT$30.45
NT$31.24
+2.60%
6.83%NT$33.00NT$27.25NT$14.805
Dec ’24NT$28.10
NT$31.24
+11.18%
6.83%NT$33.00NT$27.25NT$16.055
Nov ’24NT$24.95
NT$31.24
+25.22%
6.83%NT$33.00NT$27.25NT$19.355
Oct ’24NT$25.30
NT$31.31
+23.75%
6.80%NT$33.00NT$27.25NT$21.005
Sep ’24NT$27.10
NT$31.31
+15.54%
6.80%NT$33.00NT$27.25NT$24.055
Aug ’24NT$29.30
NT$29.33
+0.085%
10.77%NT$32.00NT$24.00NT$23.304
Jul ’24NT$27.45
NT$29.33
+6.83%
10.77%NT$32.00NT$24.00NT$25.504
Jun ’24NT$26.60
NT$28.38
+6.67%
10.53%NT$32.00NT$24.00NT$25.004
May ’24NT$25.95
NT$28.38
+9.34%
10.53%NT$32.00NT$24.00NT$26.004
AnalystConsensusTarget
Consensus Narrative from 6 Analysts
NT$25.03
Fair Value
30.7% undervalued intrinsic discount
6
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/27 02:20
End of Day Share Price 2025/05/27 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Winbond Electronics Corporation is covered by 11 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Dai ShenBofA Global Research
null nullCapital Securities Corporation
null nullHSBC