Giga-Byte Technology Co., Ltd.

TWSE:2376 Stock Report

Market Cap: NT$189.2b

Giga-Byte Technology Valuation

Is 2376 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 2376 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2376 (NT$282.5) is trading below our estimate of fair value (NT$484.84)

Significantly Below Fair Value: 2376 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2376?

Key metric: As 2376 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2376. This is calculated by dividing 2376's market cap by their current earnings.
What is 2376's PE Ratio?
PE Ratio22.9x
EarningsNT$8.26b
Market CapNT$189.24b

Price to Earnings Ratio vs Peers

How does 2376's PE Ratio compare to its peers?

The above table shows the PE ratio for 2376 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average26.8x
3017 Asia Vital Components
33.1x30.2%NT$248.4b
2356 Inventec
25.7x20.4%NT$176.7b
2059 King Slide Works
28.4x14.5%NT$129.1b
2377 Micro-Star International
20.1x28.0%NT$141.9b
2376 Giga-Byte Technology
22.9x25.8%NT$189.2b

Price-To-Earnings vs Peers: 2376 is good value based on its Price-To-Earnings Ratio (22.9x) compared to the peer average (26.8x).

Price to Earnings Ratio vs Industry

How does 2376's PE Ratio compare vs other companies in the TW Tech Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
2376 22.9xIndustry Avg. 21.0xNo. of Companies13PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2376 is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the TW Tech industry average (21x).

Price to Earnings Ratio vs Fair Ratio

What is 2376'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.

2376 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.9x
Fair PE Ratio27.5x

Price-To-Earnings vs Fair Ratio: 2376 is good value based on its Price-To-Earnings Ratio (22.9x) compared to the estimated Fair Price-To-Earnings Ratio (27.5x).

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 2376 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$282.50
NT$367.20
+30.0%
8.1%NT$411.00NT$320.00n/a10
Nov ’25NT$282.00
NT$367.40
+30.3%
7.6%NT$410.00NT$335.00n/a10
Oct ’25NT$258.00
NT$367.20
+42.3%
7.5%NT$410.00NT$335.00n/a10
Sep ’25NT$261.00
NT$367.20
+40.7%
7.5%NT$410.00NT$335.00n/a10
Aug ’25NT$271.00
NT$385.00
+42.1%
8.5%NT$450.00NT$345.00n/a10
Jul ’25NT$306.50
NT$394.10
+28.6%
8.9%NT$450.00NT$345.00n/a10
Jun ’25NT$318.00
NT$378.20
+18.9%
18.0%NT$450.00NT$200.00n/a10
May ’25NT$299.00
NT$346.30
+15.8%
21.9%NT$453.00NT$200.00n/a10
Apr ’25NT$318.50
NT$321.22
+0.9%
23.6%NT$453.00NT$200.00n/a9
Mar ’25NT$361.00
NT$303.22
-16.0%
20.3%NT$429.00NT$200.00n/a9
Feb ’25NT$313.50
NT$294.22
-6.1%
15.9%NT$350.00NT$200.00n/a9
Jan ’25NT$266.00
NT$292.78
+10.1%
15.7%NT$350.00NT$200.00n/a9
Dec ’24NT$246.00
NT$291.25
+18.4%
16.6%NT$350.00NT$200.00n/a8
Nov ’24NT$221.00
NT$307.33
+39.1%
27.3%NT$435.00NT$195.00NT$282.009
Oct ’24NT$281.50
NT$299.29
+6.3%
30.6%NT$435.00NT$195.00NT$258.007
Sep ’24NT$323.00
NT$298.57
-7.6%
30.5%NT$435.00NT$195.00NT$261.007
Aug ’24NT$319.00
NT$277.86
-12.9%
33.9%NT$435.00NT$195.00NT$271.007
Jul ’24NT$243.50
NT$193.17
-20.7%
8.5%NT$210.00NT$158.00NT$306.506
Jun ’24NT$190.50
NT$182.43
-4.2%
15.7%NT$210.00NT$123.00NT$318.007
May ’24NT$131.00
NT$135.25
+3.2%
5.3%NT$140.00NT$123.00NT$299.004
Apr ’24NT$133.50
NT$135.25
+1.3%
5.3%NT$140.00NT$123.00NT$318.504
Mar ’24NT$120.50
NT$130.75
+8.5%
4.6%NT$140.00NT$123.00NT$361.004
Feb ’24NT$117.00
NT$130.75
+11.8%
4.6%NT$140.00NT$123.00NT$313.504
Jan ’24NT$106.50
NT$129.50
+21.6%
3.3%NT$135.00NT$123.00NT$266.004
Dec ’23NT$112.50
NT$129.33
+15.0%
3.8%NT$135.00NT$123.00NT$246.003
Nov ’23NT$91.50
NT$107.50
+17.5%
2.3%NT$110.00NT$105.00NT$221.002

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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