Nan Ya Printed Circuit Board Corporation

TWSE:8046 Stock Report

Market Cap: NT$84.3b

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-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 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$262.19
Fair Value
50.2% undervalued intrinsic discount
11
Number of Analysts

Below Fair Value: 8046 (NT$130.5) is trading below our estimate of fair value (NT$262.19)

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 barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 8046. This is calculated by dividing 8046's market cap by their current revenue.
What is 8046's PS Ratio?
PS Ratio2.6x
SalesNT$32.28b
Market CapNT$84.32b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for 8046 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
6121 Simplo Technology
0.9x6.4%NT$74.6b
3481 Innolux
0.6x4.1%NT$129.0b
2409 AUO
0.4x6.4%NT$115.4b
2313 Compeq Manufacturing
1.1x7.5%NT$77.7b
8046 Nan Ya Printed Circuit Board
2.6x19.0%NT$84.3b

Price-To-Sales vs Peers: 8046 is expensive based on its Price-To-Sales Ratio (2.6x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

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

15 CompaniesPrice / SalesEstimated GrowthMarket Cap
2347 Synnex Technology International
0.3x5.6%US$3.75b
3036 WT Microelectronics
0.1x13.0%US$3.62b
3702 WPG Holdings
0.1x12.2%US$3.31b
8112 Supreme Electronics
0.1xn/aUS$949.77m
8046 2.6xIndustry Avg. 1.8xNo. of Companies39PS01.22.43.64.86+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 8046 is expensive based on its Price-To-Sales Ratio (2.6x) compared to the TW Electronic industry average (1.9x).

Price to Sales Ratio vs Fair Ratio

What is 8046'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.

8046 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.6x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: 8046 is expensive based on its Price-To-Sales Ratio (2.6x) compared to the estimated Fair Price-To-Sales Ratio (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$130.50
NT$130.91
+0.3%
24.9%NT$180.00NT$83.00n/a11
Mar ’26NT$136.00
NT$130.91
-3.7%
24.9%NT$180.00NT$83.00n/a11
Feb ’26n/a
NT$121.90
0%
23.0%NT$180.00NT$85.00n/a10
Jan ’26NT$130.50
NT$130.00
-0.4%
28.9%NT$205.00NT$85.00n/a10
Dec ’25NT$116.50
NT$135.10
+16.0%
25.8%NT$205.00NT$93.00n/a10
Nov ’25NT$131.50
NT$146.60
+11.5%
20.3%NT$205.00NT$100.00n/a10
Oct ’25NT$141.00
NT$161.50
+14.5%
21.4%NT$205.00NT$110.00n/a10
Sep ’25NT$147.00
NT$167.10
+13.7%
19.5%NT$205.00NT$112.00n/a10
Aug ’25NT$169.50
NT$193.60
+14.2%
23.8%NT$315.00NT$135.00n/a10
Jul ’25NT$182.50
NT$199.80
+9.5%
23.2%NT$315.00NT$135.00n/a10
Jun ’25NT$195.50
NT$198.50
+1.5%
23.1%NT$315.00NT$135.00n/a10
May ’25NT$187.00
NT$206.60
+10.5%
24.3%NT$315.00NT$145.00n/a10
Apr ’25NT$209.50
NT$208.10
-0.7%
23.2%NT$315.00NT$145.00n/a10
Mar ’25NT$210.50
NT$212.22
+0.8%
18.6%NT$275.00NT$145.00NT$136.009
Feb ’25NT$226.50
NT$235.22
+3.9%
19.6%NT$335.00NT$160.00n/a9
Jan ’25NT$251.50
NT$238.89
-5.0%
19.0%NT$335.00NT$168.00NT$130.509
Dec ’24NT$249.50
NT$255.91
+2.6%
19.5%NT$335.00NT$170.00NT$116.5011
Nov ’24NT$240.00
NT$283.00
+17.9%
10.8%NT$335.00NT$225.00NT$131.5011
Oct ’24NT$266.50
NT$284.00
+6.6%
10.4%NT$335.00NT$225.00NT$141.0012
Sep ’24NT$243.00
NT$281.77
+16.0%
10.2%NT$335.00NT$225.00NT$147.0013
Aug ’24NT$249.50
NT$288.54
+15.6%
11.1%NT$345.00NT$225.00NT$169.5013
Jul ’24NT$264.00
NT$303.38
+14.9%
13.4%NT$368.00NT$225.00NT$182.5013
Jun ’24NT$298.50
NT$298.00
-0.2%
17.9%NT$368.00NT$155.00NT$195.5013
May ’24NT$274.50
NT$253.17
-7.8%
24.5%NT$316.00NT$120.00NT$187.0012
Apr ’24NT$283.00
NT$246.92
-12.8%
24.5%NT$330.00NT$120.00NT$209.5012
Mar ’24NT$240.50
NT$242.75
+0.9%
23.8%NT$330.00NT$130.00NT$210.5012
Analyst Price Target
Consensus Narrative from 11 Analysts
NT$130.91
Fair Value
0.3% undervalued intrinsic discount
11
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 Analysis2025/03/21 15:31
End of Day Share Price 2025/03/21 00:00
Earnings2024/12/31
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 28 analysts. 8 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