ASROCK Incorporation

TWSE:3515 Stock Report

Market Cap: NT$28.6b

ASROCK Incorporation Valuation

Is 3515 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-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 3515 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3515 (NT$231.5) is trading above our estimate of fair value (NT$32.76)

Significantly Below Fair Value: 3515 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3515?

Key metric: As 3515 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3515. This is calculated by dividing 3515's market cap by their current earnings.
What is 3515's PE Ratio?
PE Ratio23.8x
EarningsNT$1.20b
Market CapNT$28.61b

Price to Earnings Ratio vs Peers

How does 3515's PE Ratio compare to its peers?

The above table shows the PE ratio for 3515 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average34.1x
6188 Quanta Storage
25.6xn/aNT$26.9b
2362 Clevo
21.5xn/aNT$32.1b
3013 Chenming Electronic Tech
62.1x105.0%NT$31.2b
6579 AAEON Technology
27.2xn/aNT$19.9b
3515 ASROCK Incorporation
23.8x20.8%NT$28.6b

Price-To-Earnings vs Peers: 3515 is good value based on its Price-To-Earnings Ratio (23.8x) compared to the peer average (34.1x).

Price to Earnings Ratio vs Industry

How does 3515'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
3515 23.8xIndustry Avg. 21.0xNo. of Companies13PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3515 is expensive based on its Price-To-Earnings Ratio (23.8x) compared to the TW Tech industry average (21x).

Price to Earnings Ratio vs Fair Ratio

What is 3515'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.

3515 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.8x
Fair PE Ratio21.1x

Price-To-Earnings vs Fair Ratio: 3515 is expensive based on its Price-To-Earnings Ratio (23.8x) compared to the estimated Fair Price-To-Earnings Ratio (21.1x).

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 3515 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$231.50
NT$255.00
+10.2%
5.8%NT$270.00NT$235.00n/a3
Nov ’25NT$204.50
NT$253.33
+23.9%
6.7%NT$270.00NT$230.00n/a3
Oct ’25NT$208.00
NT$253.33
+21.8%
6.7%NT$270.00NT$230.00n/a3
Sep ’25NT$207.50
NT$253.33
+22.1%
6.7%NT$270.00NT$230.00n/a3
Aug ’25NT$212.50
NT$260.00
+22.4%
3.1%NT$270.00NT$250.00n/a3
Jul ’25NT$227.50
NT$273.33
+20.1%
7.5%NT$300.00NT$250.00n/a3
Jun ’25NT$233.00
NT$262.33
+12.6%
10.2%NT$300.00NT$242.00n/a3
May ’25NT$227.00
NT$273.33
+20.4%
7.5%NT$300.00NT$250.00n/a3
Apr ’25NT$256.00
NT$273.33
+6.8%
7.5%NT$300.00NT$250.00n/a3
Mar ’25NT$278.50
NT$263.33
-5.4%
9.8%NT$300.00NT$245.00n/a3
Feb ’25NT$230.00
NT$263.33
+14.5%
9.8%NT$300.00NT$245.00n/a3
Jan ’25NT$257.00
NT$263.33
+2.5%
9.8%NT$300.00NT$245.00n/a3
Dec ’24NT$209.50
NT$229.33
+9.5%
7.1%NT$250.00NT$210.00n/a3
Nov ’24NT$180.50
NT$236.00
+30.7%
4.2%NT$250.00NT$228.00NT$204.503
Oct ’24NT$212.00
NT$236.00
+11.3%
4.2%NT$250.00NT$228.00NT$208.003
Sep ’24NT$227.00
NT$210.00
-7.5%
25.3%NT$265.00NT$130.00NT$207.504
Aug ’24NT$247.50
NT$200.00
-19.2%
34.3%NT$265.00NT$90.00NT$212.504
Jul ’24NT$222.50
NT$182.75
-17.9%
31.7%NT$250.00NT$90.00NT$227.504
Jun ’24NT$157.50
NT$118.33
-24.9%
17.7%NT$140.00NT$90.00NT$233.003
May ’24NT$135.50
NT$121.67
-10.2%
13.6%NT$140.00NT$100.00NT$227.003
Apr ’24NT$141.00
NT$121.67
-13.7%
13.6%NT$140.00NT$100.00NT$256.003
Mar ’24NT$154.50
NT$119.67
-22.5%
11.6%NT$130.00NT$100.00NT$278.503
Feb ’24NT$152.00
NT$119.67
-21.3%
11.6%NT$130.00NT$100.00NT$230.003
Jan ’24NT$142.00
NT$119.67
-15.7%
11.6%NT$130.00NT$100.00NT$257.003
Dec ’23NT$131.50
NT$109.00
-17.1%
13.0%NT$129.00NT$98.00NT$209.503
Nov ’23NT$99.20
NT$88.00
-11.3%
9.1%NT$96.00NT$80.00NT$180.502

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

Discover undervalued companies

Hon Hai Precision Industry

NT$2.9t

Provides electronic OEM services.

2317

NT$207.00

7D

-5.0%

1Y

102.0%

Chicony Electronics

NT$112.8b

Engages in the manufacture and sale of electronic parts and components in Taiwan and internationally.

2385

NT$155.00

7D

0.6%

1Y

1.6%

Taiwan Union Technology

NT$42.2b

Engages in the manufacture and sale of copper foil substrates, adhesive sheets, and multi-layer laminated boards in Taiwan and internationally.

6274

NT$155.00

7D

-4.6%

1Y

28.6%