8046:TWSENan Ya Printed Circuit Board Corporation Analysis
Data as of 2026-03-15 - not real-time
NT$515.00
Latest Price
7/10Risk
Risk Level: Medium
Executive Summary
Nan Ya Printed Circuit Board Corp (8046.TW) is trading at TWD 515, well above its 20‑day SMA of 461 and the DCF‑derived fair value of roughly TWD 174, indicating a significant overvaluation. The stock shows a bullish price trend but the MACD has turned bearish and volume is slipping, suggesting short‑term momentum may be waning.
Fundamentally, the company posted a 42% revenue surge and holds ample cash (≈TWD 8.7 bn) against modest debt, yet margins remain thin (gross ~9%) and ROE is only about 4%, while the forward PE of 30.5 still lags the current PE of 172, underscoring the pricing disconnect. The dividend yield is a modest 0.19% with a 33% payout, which appears sustainable given strong cash flow, but the high valuation and elevated volatility (≈96% 30‑day) add risk to the upside.
Fundamentally, the company posted a 42% revenue surge and holds ample cash (≈TWD 8.7 bn) against modest debt, yet margins remain thin (gross ~9%) and ROE is only about 4%, while the forward PE of 30.5 still lags the current PE of 172, underscoring the pricing disconnect. The dividend yield is a modest 0.19% with a 33% payout, which appears sustainable given strong cash flow, but the high valuation and elevated volatility (≈96% 30‑day) add risk to the upside.
Market Outlook
Short Term
< 1 yearNeutral
Model confidence: 5/10
Key Factors
- Bearish MACD histogram and decreasing volume
- Current price still above short‑term support at TWD 360
- Overvaluation relative to DCF fair value
Medium Term
1–3 yearsCautious
Model confidence: 7/10
Key Factors
- Persistent price premium versus forward PE of 30.5
- High volatility and potential correction toward fair value
- Leverage concerns with debt‑to‑equity above 2.5
Long Term
> 3 yearsPositive
Model confidence: 6/10
Key Factors
- Strong revenue growth and solid cash position
- Exposure to expanding PCB demand in high‑growth tech segments
- Low beta indicating relative stability in broader market moves
Key Metrics & Analysis
Financial Health
Revenue Growth41.90%
Profit Margin4.85%
P/E Ratio172.2
ROE4.25%
ROA2.00%
Debt/Equity2.68
P/B Ratio7.2
Op. Cash FlowNT$3.0B
Free Cash FlowNT$2.8B
Industry P/E33.7
Technical Analysis
TrendBullish
RSI63.1
SupportNT$360.00
ResistanceNT$572.00
MA 20NT$461.18
MA 50NT$363.04
MA 200NT$238.04
MACDBearish
VolumeDecreasing
Fear & Greed Index72.88
Valuation
Fair ValueNT$173.64
Target PriceNT$473.00
Upside/Downside-8.16%
GradeOvervalued
TypeBlend
Dividend Yield0.19%
Risk Assessment
Beta0.81
Volatility95.91%
Sector RiskMedium
Reg. RiskMedium
Geo RiskMedium
Currency RiskMedium
Liquidity RiskMedium
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This analysis may contain inaccuracies and is provided for informational and research purposes only. It is not personal investment advice, a recommendation, or an instruction to buy, sell, or hold any asset.