FEAF
TWSE

2478 大毅

103.50 ▲ 3.50 (3.50%) Close · 2026-11-13 · TWSE
Ask about 2478
This is research, not a buy or sell recommendation. Robo-advice in Taiwan requires an FSC licence; FEAF analyses, explains and monitors, and the investor makes the decision. Judgement thresholds are working rules pending review by the team's finance members.

Plain-language summary of valuation, growth, profitability, balance sheet, and recent MOPS filings.

Your risk profile
Conclusion

Mixed picture: 3 strengths against 1 watch-outs. Weigh them against your own goals.

For a moderate profile, none of the items above crosses the watch-out thresholds set by the team.

No model narrative: the model call failed. The structured analysis above is complete on its own.

Strengths

+ P/E 16.77 is well below the Electronic components median of 24.93 (81 listed peers): priced cheaper than peers. source (Key Stats) →
+ Liabilities are only 30.2% of total assets (Q3 2026): a light debt load. source (Financials) →
+ Free cash flow was positive in 2025: 244 NT$ million. source (Financials) →

Watch-outs

! The current price implies 7.1% perpetual growth, above the 3.5% ceiling: the price already assumes high expectations. source (Valuation) →

What to check before deciding

?Can the company sustain growth above the perpetual-growth ceiling for years?

What the analysis found

! Valuation (DCF) The current price implies 7.1% perpetual growth, above the 3.5% ceiling: the price already assumes high expectations. source →
+ Valuation vs peers P/E 16.77 is well below the Electronic components median of 24.93 (81 listed peers): priced cheaper than peers. source →
· Growth Revenue grew modestly, 7.8% in 2025; latest quarter Q3 2026: 41.2% year on year. source →
· Profitability Return on equity 11.5% with a 13.8% net margin: moderate profitability. source →
+ Debt Liabilities are only 30.2% of total assets (Q3 2026): a light debt load. source →
+ Cash flow Free cash flow was positive in 2025: 244 NT$ million. source →
· Filings 1 verified alert(s); latest on 2026-11-11: 公告本公司董事會通過115年度第三季合併財務報告 source →
· Filings 1 filing(s) are held or rejected and wait for human review. source →