Nan Ya Printed Circuit Board Corporation

TWSE:8046 Stock Report

Market Cap: NT$67.8b

Nan Ya Printed Circuit Board Valuation

Is 8046 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 8046 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
NT$347.73
Fair Value
69.8% undervalued intrinsic discount
12
Number of Analysts

Below Fair Value: 8046 (NT$105) is trading below our estimate of fair value (NT$347.73)

Significantly Below Fair Value: 8046 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8046?

Key metric: As 8046 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 8046. This is calculated by dividing 8046's market cap by their current earnings.
What is 8046's PE Ratio?
PE Ratio120.4x
EarningsNT$563.62m
Market CapNT$67.85b

Price to Earnings Ratio vs Peers

How does 8046's PE Ratio compare to its peers?

The above table shows the PE ratio for 8046 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.6x
6121 Simplo Technology
12.7x6.84%NT$72.8b
3481 Innolux
9.7x-81.47%NT$112.2b
2313 Compeq Manufacturing
13.6x15.73%NT$76.3b
6278 Taiwan Surface Mounting Technology
10.2x10.15%NT$31.4b
8046 Nan Ya Printed Circuit Board
120.4x56.61%NT$67.8b

Price-To-Earnings vs Peers: 8046 is expensive based on its Price-To-Earnings Ratio (120.4x) compared to the peer average (11.6x).

Price to Earnings Ratio vs Industry

How does 8046's PE Ratio compare vs other companies in the TW Electronic Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
8046 120.4xIndustry Avg. 19.3xNo. of Companies52PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 8046 is expensive based on its Price-To-Earnings Ratio (120.4x) compared to the TW Electronic industry average (19.7x).

Price to Earnings Ratio vs Fair Ratio

What is 8046'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.

8046 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio120.4x
Fair PE Ratio38.1x

Price-To-Earnings vs Fair Ratio: 8046 is expensive based on its Price-To-Earnings Ratio (120.4x) compared to the estimated Fair Price-To-Earnings Ratio (38.1x).

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 8046 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$105.00
NT$107.50
+2.38%
27.70%NT$160.00NT$73.00n/a12
May ’26NT$98.80
NT$112.42
+13.78%
30.30%NT$180.00NT$73.00n/a12
Apr ’26NT$103.50
NT$128.18
+23.85%
26.68%NT$180.00NT$83.00n/a11
Mar ’26NT$136.00
NT$130.91
-3.74%
24.91%NT$180.00NT$83.00n/a11
Feb ’26n/a
NT$121.90
0%
23.03%NT$180.00NT$85.00n/a10
Jan ’26NT$130.50
NT$130.00
-0.38%
28.86%NT$205.00NT$85.00n/a10
Dec ’25NT$116.50
NT$135.10
+15.97%
25.82%NT$205.00NT$93.00n/a10
Nov ’25NT$131.50
NT$146.60
+11.48%
20.29%NT$205.00NT$100.00n/a10
Oct ’25NT$141.00
NT$161.50
+14.54%
21.36%NT$205.00NT$110.00n/a10
Sep ’25NT$147.00
NT$167.10
+13.67%
19.46%NT$205.00NT$112.00n/a10
Aug ’25NT$169.50
NT$193.60
+14.22%
23.78%NT$315.00NT$135.00n/a10
Jul ’25NT$182.50
NT$199.80
+9.48%
23.23%NT$315.00NT$135.00n/a10
Jun ’25NT$195.50
NT$198.50
+1.53%
23.10%NT$315.00NT$135.00n/a10
May ’25NT$187.00
NT$206.60
+10.48%
24.28%NT$315.00NT$145.00NT$98.8010
Apr ’25NT$209.50
NT$208.10
-0.67%
23.18%NT$315.00NT$145.00NT$103.5010
Mar ’25NT$210.50
NT$212.22
+0.82%
18.62%NT$275.00NT$145.00NT$136.009
Feb ’25NT$226.50
NT$235.22
+3.85%
19.62%NT$335.00NT$160.00n/a9
Jan ’25NT$251.50
NT$238.89
-5.01%
18.99%NT$335.00NT$168.00NT$130.509
Dec ’24NT$249.50
NT$255.91
+2.57%
19.53%NT$335.00NT$170.00NT$116.5011
Nov ’24NT$240.00
NT$283.00
+17.92%
10.80%NT$335.00NT$225.00NT$131.5011
Oct ’24NT$266.50
NT$284.00
+6.57%
10.42%NT$335.00NT$225.00NT$141.0012
Sep ’24NT$243.00
NT$281.77
+15.95%
10.20%NT$335.00NT$225.00NT$147.0013
Aug ’24NT$249.50
NT$288.54
+15.65%
11.10%NT$345.00NT$225.00NT$169.5013
Jul ’24NT$264.00
NT$303.38
+14.92%
13.43%NT$368.00NT$225.00NT$182.5013
Jun ’24NT$298.50
NT$298.00
-0.17%
17.92%NT$368.00NT$155.00NT$195.5013
May ’24NT$274.50
NT$253.17
-7.77%
24.48%NT$316.00NT$120.00NT$187.0012
AnalystConsensusTarget
Consensus Narrative from 12 Analysts
NT$107.50
Fair Value
2.3% undervalued intrinsic discount
12
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/16 08:46
End of Day Share Price 2025/05/16 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Nan Ya Printed Circuit Board Corporation is covered by 29 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andrew LuBarclays
Peter YuBNP Paribas Securities (Asia)
Mike YangBofA Global Research