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3546.TWO$83.80+2.57%
Fair $83.80+0.0%

3546.TWO

USERJOY Technology Co.,Ltd.

Communication Services / Electronic Gaming & MultimediaTaipei Exchange

$83.80

+2.10 (+2.57%)

Fairly Valued+0.0%Fair Value $83.80Fund rank 30/100 · Data gapFallback financials|
SA 46/C
F-Score: 4/9

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 33% · confianza 22%

FCF escenarios

weak_data · normalized FCF $94.3M · quality 52.0/100

Data gap 30/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 30/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

46/100

C

Piotroski

4/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Insufficient audited annual history (<3 SEC-backed years); composite fair value and forward targets are disabled until manually verified.
Thesis & Journal · 3546.TWOLocal privado en este navegador · USERJOY Technology Co.,Ltd.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$4.9B

P/E

42.8x

↑

EV/EBITDA

23.4x

↑

ROE

7.6%

↑

Gross Margin

93.3%

↑

Debt/Equity

0.23

↑
52-Week Range$84
$65$105

TradingView lightweight chart

3546.TWO price, volumen y niveles de valoración

Último $83.80Periodo +101.1%
Fair value: $83.80

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

-3.5%

FCF CAGR

-35.5%

FCF margin

6.6%

FCF / Net income

0.82x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $1.42B · net income $115.1M · FCF $94.3M

2022-FY → 2025-FY

Gross margin

93.3%+0.8% pts

Operating margin

10.5%-7.2% pts

Net margin

8.1%-12.3% pts

FCF margin

6.6%-15.5% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$1.42B$1.42B$1.39B$1.37B$1.58B
Net Income$115.1M$115.1M$294.3M$214.5M$323.6M
EBITDA$201.9M$201.9M$399.1M$324.6M$432.5M
EPS——5.013.655.51
Gross Margin93.3%93.3%97.6%94.9%92.5%
Operating Margin10.5%10.5%18.6%15.8%17.8%
Net Margin8.1%8.1%21.1%15.7%20.4%
Balance Sheet
Debt/Equity0.230.230.230.010.01
Current Ratio3.133.13———
Cash Flow
Free Cash Flow$94.3M$94.3M$-166.4M$183.2M$351.1M
Returns
ROE7.6%7.6%18.1%14.0%21.4%
Valuation
P/E42.7642.7613.7418.6011.50
EV/EBITDA23.3723.3710.1811.247.69
P/B3.223.222.482.602.46
Growth & Yield
Revenue Growth2.1%2.1%1.9%-13.7%—
EPS Growth——37.1%-33.6%—
Dividend Yield5.0%5.0%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%
Reverse DCF requires positive EPS; loss-making or zero-EPS companies cannot produce a clean EPS hurdle.

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -12.7%

Total return

-12.7%

Start / end P/E

n/dx → n/dx

EPS bridge

5.01 → n/d

Residual

-17.7%

EPS growthn/d
Multiple reratingn/d
Dividend+5.0%
Residual / FX / buybacks / cross-term-17.7%

EPS/multiple decomposition requires positive EPS at both endpoints; residual absorbs price move not explained by dividends.

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.