Andes Technology Corporation

TWSE:6533 Stock Report

Market Cap: NT$19.3b

Andes Technology Valuation

Is 6533 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 6533 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6533 (NT$380.5) is trading above our estimate of fair value (NT$325.35)

Significantly Below Fair Value: 6533 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 6533?

Key metric: As 6533 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 6533. This is calculated by dividing 6533's market cap by their current revenue.
What is 6533's PS Ratio?
PS Ratio16.8x
SalesNT$1.15b
Market CapNT$19.27b

Price to Sales Ratio vs Peers

How does 6533's PS Ratio compare to its peers?

The above table shows the PS ratio for 6533 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.4x
8028 Phoenix Silicon International
7.2xn/aNT$23.3b
2329 Orient Semiconductor Electronics
1.2xn/aNT$19.7b
3707 Episil Technologies
3.4x24.3%NT$20.3b
3264 Ardentec
2xn/aNT$26.3b
6533 Andes Technology
16.8x27.5%NT$19.3b

Price-To-Sales vs Peers: 6533 is expensive based on its Price-To-Sales Ratio (16.8x) compared to the peer average (3.4x).

Price to Sales Ratio vs Industry

How does 6533's PS Ratio compare vs other companies in the TW Semiconductor Industry?

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
6196 Marketech International
0.5x9.0%US$937.98m
6120 Darwin Precisions
0.4xn/aUS$272.23m
4967 Team Group
0.3x-13.1%US$224.13m
8096 CoAsia Electronics
0.2xn/aUS$177.29m
6533 16.8xIndustry Avg. 3.6xNo. of Companies40PS02.44.87.29.612+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 6533 is expensive based on its Price-To-Sales Ratio (16.8x) compared to the TW Semiconductor industry average (3.6x).

Price to Sales Ratio vs Fair Ratio

What is 6533'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.

6533 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio16.8x
Fair PS Ratio29x

Price-To-Sales vs Fair Ratio: 6533 is good value based on its Price-To-Sales Ratio (16.8x) compared to the estimated Fair Price-To-Sales Ratio (29x).

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 6533 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$380.50
NT$479.17
+25.9%
19.6%NT$608.00NT$366.00n/a6
Nov ’25NT$407.50
NT$479.17
+17.6%
19.6%NT$608.00NT$366.00n/a6
Oct ’25NT$367.50
NT$469.00
+27.6%
24.1%NT$608.00NT$340.00n/a5
Sep ’25NT$368.00
NT$493.00
+34.0%
19.1%NT$608.00NT$366.00n/a5
Aug ’25NT$382.50
NT$516.20
+35.0%
18.9%NT$658.00NT$420.00n/a5
Jul ’25NT$423.00
NT$516.20
+22.0%
18.9%NT$658.00NT$420.00n/a5
Jun ’25NT$399.00
NT$516.20
+29.4%
18.9%NT$658.00NT$420.00n/a5
May ’25NT$387.00
NT$516.20
+33.4%
18.9%NT$658.00NT$420.00n/a5
Apr ’25NT$432.50
NT$512.20
+18.4%
19.9%NT$658.00NT$400.00n/a5
Mar ’25NT$501.00
NT$527.20
+5.2%
18.2%NT$658.00NT$400.00n/a5
Feb ’25NT$490.00
NT$482.50
-1.5%
12.8%NT$560.00NT$400.00n/a4
Jan ’25NT$480.00
NT$482.50
+0.5%
12.8%NT$560.00NT$400.00n/a4
Dec ’24NT$481.50
NT$493.33
+2.5%
13.8%NT$560.00NT$400.00n/a3
Nov ’24NT$389.50
NT$500.00
+28.4%
12.0%NT$560.00NT$440.00NT$407.502
Oct ’24NT$396.00
NT$500.00
+26.3%
12.0%NT$560.00NT$440.00NT$367.502
Sep ’24NT$425.50
NT$500.00
+17.5%
12.0%NT$560.00NT$440.00NT$368.002
Aug ’24NT$449.00
NT$525.00
+16.9%
10.5%NT$580.00NT$470.00NT$382.502
Jul ’24NT$475.50
NT$525.00
+10.4%
10.5%NT$580.00NT$470.00NT$423.002
Jun ’24NT$500.00
NT$525.00
+5.0%
10.5%NT$580.00NT$470.00NT$399.002
May ’24NT$453.50
NT$565.00
+24.6%
2.7%NT$580.00NT$550.00NT$387.002
Apr ’24NT$519.00
NT$584.00
+12.5%
5.8%NT$618.00NT$550.00NT$432.502
Jan ’24NT$497.50
NT$534.00
+7.3%
15.7%NT$618.00NT$450.00NT$480.002
Dec ’23NT$531.00
NT$534.00
+0.6%
15.7%NT$618.00NT$450.00NT$481.502

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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