The insight of value investing is to find the intrinsic value of firms. We select Taiwan's stock-listed companies in electronic and non-electronic industries from 1994-1999 based on the similar sizes, history, sales and earnings per share. Comparing and testing these two pairs of industries in seven different valuation models, such as DCF, relative valuation model and OPM, this paper tries to find the optimal valuation model fitted to each industry. Using Theil's U and t test, we find that electronic industries show more correct valuation in FCFF and EVA than non-electronic industries, but not significant. While non-electronic industries show more significant and correct valuation in P/BVPS and P/Sales than electronic industries. Non-electronic industries show more correct valuation in OPM but not significant.