2337.TW · Intrinsic value
Is Macronix International Co., Ltd. (2337.TW) overvalued or undervalued?
Macronix International Co., Ltd. (2337.TW) trades at the delayed market price of NT$102.00 a share. That price already implies revenue growth of 19.6% a year for 5 years. TickerWorth's fair value is NT$179.74 a share (43% below fair value), as of Oct 19, 2026. It is a model estimate, and every input behind it is sourced below.
Model by Miraaj Patel · generated from market data · Updated Oct 19, 2026 · How these pages are made
Is 2337.TW undervalued?
- Fair value
- NT$179.74
- Market price
- NT$102.00
- Upside to fair value
- +76.2%
- Verdict
- 43% below fair value
Reverse DCF: Today's price implies revenue growth of 19.6% a year for 5 years; our model assumes 16.6% a year on average over the same horizon.
What is 2337.TW's TickerWorth Score?
Scores higher than almost every company we compare it with
Compared with Technology companies in Taiwan
Its strongest point: trades below our estimate of what it's worth. Its weakest: recent price trend has been weak.
- Value · 67 of 100
Cheaper than 67% of Technology companies worldwide
- Price vs worth · 100 of 100
- Quality · 62 of 100
More profitable than 62% of Technology companies worldwide
- Financial health · 57 of 100
Financially stronger than 57% of Technology companies worldwide
- Growth · 98 of 100
Growing faster than 98% of Technology companies worldwide
- Momentum · 49 of 100
Outperformed 49% of Technology companies worldwide over the past year
Confidence: Medium confidence · Scored
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2337.TW DCF valuation: where the gap comes from
At a recent price of 102.00, Macronix International Co., Ltd. (2337.TW) trades 43% below TickerWorth's blended fair value of 179.74 per share — a discounted-cash-flow model cross-checked against peer multiples and asset value — meaning the market currently prices 2337.TW undervalued vs our estimate of what the business is intrinsically worth. Our fair value sits above the market, an implied +76.2% move to close the gap if the business performs in line with our assumptions. This is an educational model, not a price target or a recommendation — the value moves with the inputs, which you can test yourself using the WACC slider below.
Read the full reasoning
One of the lenses behind that blended figure is a discounted-cash-flow model, which on its own values 2337.TW at about 102.20 per share. The rest of this page walks through that DCF — its assumptions, reverse-DCF and discount-rate sensitivity — because it is the auditable anchor of the blend.
The valuation discounts Macronix International Co., Ltd.'s projected free cash flows at a weighted-average cost of capital (WACC) of 12.5%, with a long-run terminal growth rate of 2.5%. About 66% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 19.6% annual revenue growth for 2337.TW. Our base case instead compounds to about 16.6% a year over the same forecast, so the market is pricing in materially faster growth than our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, 2337.TW's modeled DCF value ranges from about 83.29 to 133.58 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what Macronix International Co., Ltd. would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of 2337.TW's intrinsic value. Figures update as new filings and prices come in.
Every input behind 2337.TW's DCF
| Input | Value |
|---|---|
| Base-year revenueLive feed — totalRevenue (TTM) | 45,536,660,000 |
| Base EBIT marginComputed — reported operating margin exceeded the EBITDA margin (impossible); held to 29.4% so D&A stays positive | 29.4% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 30% → 24% → 17% → 10% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 5.2% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 1.69 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesLive feed — sharesOutstanding | 1,929M |
| Market priceLast known price · as of 2026-10-19 13:56 UTC | 102.00 |
Change 2337.TW's assumptions
The discount-rate dial and the editable model
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What does Macronix International Co., Ltd. do?
What does it do?
Macronix International Co., Ltd. engages in the design, manufacture, and supply of integrated circuits and memory chips. It operates in the Semiconductors industry (Technology sector), headquartered in Taiwan.
How does it make money?
The business turns 45.5B in annual revenue into profit. Out of every $100 of sales, about $47 is left as operating profit (operating margin of 46.9%), after a 43% gross margin on the products/services it sells. After all costs, taxes and interest, 18.3% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks solid: carries modest debt (0.4× equity), comfortably covers its short-term bills (2.4× current ratio), and is currently profitable.
2337.TW insider trading
Insider filings are available for US-listed companies only.
Common questions
What is 2337.TW's intrinsic value?
TickerWorth's blended fair value for Macronix International Co., Ltd. (2337.TW) is 179.74 per share, versus a market price of 102.00 (43% below fair value).
Is 2337.TW overvalued or undervalued?
On our blended fair value 2337.TW looks undervalued vs fair value at 102.00. This is an educational estimate, not advice.
What discount rate is used for 2337.TW?
A WACC of 12.5% and a terminal growth rate of 2.5%.
Is Macronix International stock undervalued?
TickerWorth's fair value for Macronix International Co., Ltd. (2337.TW) is NT$179.74 against a market price of NT$102.00. Our read: 43% below fair value. This is a model estimate, not investment advice.
Macronix International (2337.TW) DCF valuation and fair value
Our fair value for Macronix International Co., Ltd. (2337.TW) is NT$179.74, built on a 12.5% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into Macronix International stock?
Today's price implies revenue growth of 19.6% a year for 5 years; our model assumes 16.6% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of NT$102.00. A model estimate, not investment advice.
Macronix International (2337.TW) insider trading
We have no recent SEC Form 4 insider filings on file for Macronix International Co., Ltd. (2337.TW). Form 4 covers US-listed companies only.
More stocks below our fair value
Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.