WinWay Technology Co., Ltd.

TWSE:6515 Stock Report

Market Cap: NT$44.0b

WinWay Technology Valuation

Is 6515 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 6515 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6515 (NT$1330) is trading below our estimate of fair value (NT$3299.11)

Significantly Below Fair Value: 6515 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 6515?

Key metric: As 6515 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 6515. This is calculated by dividing 6515's market cap by their current earnings.
What is 6515's PE Ratio?
PE Ratio52.2x
EarningsNT$886.14m
Market CapNT$43.98b

Price to Earnings Ratio vs Peers

How does 6515's PE Ratio compare to its peers?

The above table shows the PE ratio for 6515 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average37.2x
3532 Formosa Sumco Technology
29xn/aNT$44.8b
3680 Gudeng Precision Industrial
39.6x33.0%NT$46.0b
3131 Grand Process Technology
62.7x50.5%NT$49.1b
5434 Topco ScientificLtd
17.3x16.3%NT$57.5b
6515 WinWay Technology
52.2x53.6%NT$44.0b

Price-To-Earnings vs Peers: 6515 is expensive based on its Price-To-Earnings Ratio (52.2x) compared to the peer average (37.2x).

Price to Earnings Ratio vs Industry

How does 6515'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
6515 52.2xIndustry Avg. 30.1xNo. of Companies32PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 6515 is expensive based on its Price-To-Earnings Ratio (52.2x) compared to the TW Semiconductor industry average (30.1x).

Price to Earnings Ratio vs Fair Ratio

What is 6515'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.

6515 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio52.2x
Fair PE Ratio46x

Price-To-Earnings vs Fair Ratio: 6515 is expensive based on its Price-To-Earnings Ratio (52.2x) compared to the estimated Fair Price-To-Earnings Ratio (46x).

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 6515 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$1,330.00
NT$1,652.50
+24.2%
0.2%NT$1,655.00NT$1,650.00n/a2
Nov ’25NT$1,300.00
NT$1,257.50
-3.3%
31.2%NT$1,650.00NT$865.00n/a2
Oct ’25NT$1,225.00
NT$1,107.50
-9.6%
21.9%NT$1,350.00NT$865.00n/a2
Sep ’25NT$1,180.00
NT$1,107.50
-6.1%
21.9%NT$1,350.00NT$865.00n/a2
Aug ’25NT$1,030.00
NT$1,107.50
+7.5%
21.9%NT$1,350.00NT$865.00n/a2
Jul ’25NT$1,085.00
NT$1,107.50
+2.1%
21.9%NT$1,350.00NT$865.00n/a2
Jun ’25NT$852.00
NT$921.67
+8.2%
22.6%NT$1,200.00NT$700.00n/a3
May ’25NT$837.00
NT$855.00
+2.2%
14.3%NT$1,000.00NT$700.00n/a3
Apr ’25NT$722.00
NT$855.00
+18.4%
14.3%NT$1,000.00NT$700.00n/a3
Mar ’25NT$795.00
NT$855.00
+7.5%
14.3%NT$1,000.00NT$700.00n/a3
Feb ’25NT$773.00
NT$828.33
+7.2%
11.3%NT$920.00NT$700.00n/a3
Jan ’25NT$839.00
NT$828.33
-1.3%
11.3%NT$920.00NT$700.00n/a3
Dec ’24NT$781.00
NT$828.33
+6.1%
11.3%NT$920.00NT$700.00n/a3
Nov ’24NT$634.00
NT$960.00
+51.4%
4.2%NT$1,000.00NT$920.00NT$1,300.002
Oct ’24NT$678.00
NT$871.67
+28.6%
14.8%NT$1,000.00NT$695.00NT$1,225.003
Sep ’24NT$589.00
NT$905.00
+53.7%
18.3%NT$1,100.00NT$695.00NT$1,180.003
Aug ’24NT$756.00
NT$918.33
+21.5%
18.3%NT$1,100.00NT$695.00NT$1,030.003
Jul ’24NT$778.00
NT$760.00
-2.3%
8.6%NT$825.00NT$695.00NT$1,085.002
Jun ’24NT$807.00
NT$760.00
-5.8%
8.6%NT$825.00NT$695.00NT$852.002
May ’24NT$713.00
NT$760.00
+6.6%
8.6%NT$825.00NT$695.00NT$837.002
Apr ’24NT$719.00
NT$760.00
+5.7%
8.6%NT$825.00NT$695.00NT$722.002

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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