Topco Scientific Co.,Ltd.

TWSE:5434 Stock Report

Market Cap: NT$56.8b

Topco ScientificLtd Valuation

Is 5434 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 5434 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 5434 (NT$301) is trading above our estimate of fair value (NT$215.35)

Significantly Below Fair Value: 5434 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 5434?

Key metric: As 5434 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 5434. This is calculated by dividing 5434's market cap by their current earnings.
What is 5434's PE Ratio?
PE Ratio16.9x
EarningsNT$3.37b
Market CapNT$56.82b

Price to Earnings Ratio vs Peers

How does 5434's PE Ratio compare to its peers?

The above table shows the PE ratio for 5434 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average45.4x
3131 Grand Process Technology
62.9x50.5%NT$49.2b
3532 Formosa Sumco Technology
29.3xn/aNT$45.2b
6223 MPI
37.5x26.7%NT$70.2b
6515 WinWay Technology
51.8x53.6%NT$45.9b
5434 Topco ScientificLtd
16.9x16.3%NT$56.8b

Price-To-Earnings vs Peers: 5434 is good value based on its Price-To-Earnings Ratio (16.9x) compared to the peer average (45.4x).

Price to Earnings Ratio vs Industry

How does 5434'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
5434 16.9xIndustry Avg. 31.2xNo. of Companies31PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 5434 is good value based on its Price-To-Earnings Ratio (16.9x) compared to the TW Semiconductor industry average (31.2x).

Price to Earnings Ratio vs Fair Ratio

What is 5434'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.

5434 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.9x
Fair PE Ratio21.5x

Price-To-Earnings vs Fair Ratio: 5434 is good value based on its Price-To-Earnings Ratio (16.9x) compared to the estimated Fair Price-To-Earnings Ratio (21.5x).

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 5434 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$301.00
NT$333.00
+10.6%
7.9%NT$353.00NT$296.00n/a3
Nov ’25NT$305.00
NT$312.67
+2.5%
3.8%NT$322.00NT$296.00n/a3
Oct ’25NT$283.00
NT$312.67
+10.5%
3.8%NT$322.00NT$296.00n/a3
Sep ’25NT$283.00
NT$312.67
+10.5%
3.8%NT$322.00NT$296.00n/a3
Aug ’25NT$274.50
NT$284.67
+3.7%
11.3%NT$314.00NT$240.00n/a3
Jul ’25NT$278.50
NT$284.67
+2.2%
11.3%NT$314.00NT$240.00n/a3
Jun ’25NT$262.00
NT$284.67
+8.7%
11.3%NT$314.00NT$240.00n/a3
May ’25NT$249.50
NT$236.00
-5.4%
2.4%NT$240.00NT$228.00n/a3
Apr ’25NT$224.50
NT$236.00
+5.1%
2.4%NT$240.00NT$228.00n/a3
Mar ’25NT$197.50
NT$205.00
+3.8%
2.4%NT$210.00NT$200.00n/a2
Feb ’25NT$191.50
NT$205.00
+7.0%
2.4%NT$210.00NT$200.00n/a2
Jan ’25NT$182.50
NT$205.00
+12.3%
2.4%NT$210.00NT$200.00n/a2
Dec ’24NT$184.00
NT$205.00
+11.4%
2.4%NT$210.00NT$200.00n/a2
Oct ’24NT$169.50
NT$198.33
+17.0%
1.2%NT$200.00NT$195.00NT$283.003
Sep ’24NT$173.00
NT$198.33
+14.6%
1.2%NT$200.00NT$195.00NT$283.003
Aug ’24NT$177.50
NT$209.67
+18.1%
5.1%NT$220.00NT$195.00NT$274.503
Jul ’24NT$182.50
NT$209.67
+14.9%
5.1%NT$220.00NT$195.00NT$278.503
Jun ’24NT$201.00
NT$209.67
+4.3%
5.1%NT$220.00NT$195.00NT$262.003
May ’24NT$186.50
NT$209.67
+12.4%
5.1%NT$220.00NT$195.00NT$249.503
Apr ’24NT$189.00
NT$209.67
+10.9%
5.1%NT$220.00NT$195.00NT$224.503
Mar ’24NT$183.00
NT$195.00
+6.6%
2.6%NT$200.00NT$190.00NT$197.502
Feb ’24NT$168.00
NT$195.00
+16.1%
2.6%NT$200.00NT$190.00NT$191.502
Jan ’24NT$164.00
NT$195.00
+18.9%
2.6%NT$200.00NT$190.00NT$182.502
Dec ’23NT$169.50
NT$197.50
+16.5%
1.3%NT$200.00NT$195.00NT$184.002
Nov ’23NT$150.00
NT$197.50
+31.7%
1.3%NT$200.00NT$195.00NT$169.502

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

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