Wistron Corporation

TWSE:3231 Stock Report

Market Cap: NT$301.8b

Wistron Valuation

Is 3231 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • 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 3231 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
NT$154.62
Fair Value
32.1% undervalued intrinsic discount
12
Number of Analysts

Below Fair Value: 3231 (NT$105) is trading below our estimate of fair value (NT$154.62)

Significantly Below Fair Value: 3231 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3231?

Key metric: As 3231 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3231. This is calculated by dividing 3231's market cap by their current earnings.
What is 3231's PE Ratio?
PE Ratio19.5x
EarningsNT$15.47b
Market CapNT$301.83b

Price to Earnings Ratio vs Peers

How does 3231's PE Ratio compare to its peers?

The above table shows the PE ratio for 3231 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24x
2395 Advantech
36.6x14.2%NT$314.7b
4938 Pegatron
13.7x3.0%NT$249.3b
2301 Lite-On Technology
19.9x17.3%NT$246.1b
2356 Inventec
25.6x20.4%NT$176.5b
3231 Wistron
19.6x26.8%NT$303.3b

Price-To-Earnings vs Peers: 3231 is good value based on its Price-To-Earnings Ratio (19.6x) compared to the peer average (24x).

Price to Earnings Ratio vs Industry

How does 3231'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
3231 19.5xIndustry Avg. 20.2xNo. of Companies13PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3231 is good value based on its Price-To-Earnings Ratio (19.6x) compared to the TW Tech industry average (20.2x).

Price to Earnings Ratio vs Fair Ratio

What is 3231'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.

3231 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.5x
Fair PE Ratio26.3x

Price-To-Earnings vs Fair Ratio: 3231 is good value based on its Price-To-Earnings Ratio (19.6x) compared to the estimated Fair Price-To-Earnings Ratio (26.3x).

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 3231 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$104.50
NT$146.08
+39.8%
12.2%NT$168.00NT$118.00n/a12
Jan ’26NT$104.00
NT$146.08
+40.5%
12.0%NT$168.00NT$118.00n/a12
Dec ’25NT$113.50
NT$146.08
+28.7%
12.0%NT$168.00NT$118.00n/a12
Nov ’25NT$115.00
NT$142.92
+24.3%
14.3%NT$170.00NT$100.00n/a12
Oct ’25NT$101.50
NT$144.50
+42.4%
14.9%NT$170.00NT$100.00n/a12
Sep ’25NT$101.50
NT$146.17
+44.0%
14.1%NT$170.00NT$100.00n/a12
Aug ’25NT$100.00
NT$146.58
+46.6%
14.0%NT$170.00NT$100.00n/a12
Jul ’25NT$107.50
NT$151.27
+40.7%
10.8%NT$170.00NT$118.00n/a11
Jun ’25NT$112.00
NT$151.18
+35.0%
10.8%NT$170.00NT$118.00n/a11
May ’25NT$113.50
NT$152.34
+34.2%
10.7%NT$180.00NT$118.00n/a11
Apr ’25NT$122.50
NT$145.57
+18.8%
10.1%NT$176.00NT$118.00n/a10
Mar ’25NT$118.00
NT$139.57
+18.3%
13.9%NT$176.00NT$104.70n/a10
Feb ’25NT$115.00
NT$137.87
+19.9%
13.5%NT$176.00NT$104.70n/a10
Jan ’25NT$98.60
NT$135.37
+37.3%
13.8%NT$176.00NT$104.70NT$104.0010
Dec ’24NT$92.80
NT$135.37
+45.9%
13.8%NT$176.00NT$104.70NT$113.5010
Nov ’24NT$89.50
NT$143.33
+60.1%
10.6%NT$176.00NT$125.00NT$115.009
Oct ’24NT$101.50
NT$147.29
+45.1%
11.3%NT$176.00NT$130.00NT$101.507
Sep ’24NT$109.00
NT$145.38
+33.4%
12.5%NT$176.00NT$120.00NT$101.508
Aug ’24NT$135.00
NT$113.70
-15.8%
39.8%NT$176.00NT$50.00NT$100.008
Jul ’24NT$90.80
NT$58.48
-35.6%
22.7%NT$88.00NT$45.00NT$107.508
Jun ’24NT$69.40
NT$52.10
-24.9%
9.9%NT$60.00NT$45.00NT$112.008
May ’24NT$46.50
NT$44.06
-5.2%
21.0%NT$60.00NT$30.00NT$113.508
Apr ’24NT$41.85
NT$34.48
-17.6%
19.0%NT$45.00NT$24.30NT$122.508
Mar ’24NT$32.55
NT$31.98
-1.8%
17.0%NT$40.00NT$24.30NT$118.008
Feb ’24NT$31.40
NT$31.98
+1.8%
17.0%NT$40.00NT$24.30NT$115.008
Jan ’24NT$29.40
NT$30.73
+4.5%
14.9%NT$40.00NT$24.30NT$98.608
Analyst Price Target
Consensus Narrative from 12 Analysts
NT$146.08
Fair Value
28.1% undervalued intrinsic discount
12
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/17 16:07
End of Day Share Price 2025/01/17 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

Wistron Corporation is covered by 35 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Yingchao YangBarclays
Shun Kan Liu GrassiBNP Paribas Securities (Asia)
Lin-Ya KaoBofA Global Research