The Discounted Cash Flow (DCF) valuation of Accton Technology Corp (2345.TW) is 703.96 TWD. With the latest stock price at 797.00 TWD, the upside of Accton Technology Corp based on DCF is -11.7%.

Is 2345.TW a buy or a sell?

Based on the latest price of 797.00 TWD and our DCF valuation, Accton Technology Corp (2345.TW) is a sell. Selling 2345.TW stocks now will result in a potential gain of 11.7%.

	Range	Selected
WACC / Discount Rate	6.6% - 9.0%	7.8%
Long-term Growth Rate	2.5% - 4.5%	3.5%
Fair Price	491.83 - 1,345.5	703.96
Upside	-38.3% - 68.8%	-11.7%

797.00 TWD

Stock Price

703.96 TWD

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

2345.TW DCF Valuation: Revenue & Expenses Forecast

(TWD in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	110,425	160,522	185,061	227,877	258,698	296,798
% Growth	31%	45%	15%	23%	14%	15%

Cost of goods sold	(87,634)	(127,391)	(146,865)	(180,844)	(205,304)	(235,540)
% of Revenue	79%	79%	79%	79%	79%	79%

Selling, G&A expenses	(4,474)	(6,503)	(7,498)	(9,232)	(10,481)	(12,025)
% of Revenue	4%	4%	4%	4%	4%	4%

Research & Development	(4,702)	(6,836)	(7,881)	(9,704)	(11,017)	(12,639)
% of Revenue	4%	4%	4%	4%	4%	4%

Net interest & other expenses	1,519	2,208	2,546	3,134	3,558	4,083
% of Revenue	1%	1%	1%	1%	1%	1%

Tax expense	(3,135)	(4,518)	(5,208)	(6,413)	(7,280)	(8,353)
Tax rate	21%	21%	21%	21%	21%	21%

Net profit	11,999	17,482	20,155	24,818	28,174	32,324
% Margin	11%	11%	11%	11%	11%	11%