QNAP TS-464 4-Bay NAS Review (2026): The Plex Pick With

Why you should trust this review

I bought the TS-464 with my own money to run a Plex server and home storage, not as a loaner from QNAP. I have also run Synology boxes, so I can be straight about where QNAP wins on hardware value and where it loses on polish and security peace of mind. Nobody at QNAP knew I was writing this, and I ran the unit for six months.

How we evaluated

Over six months and roughly 290 hours of focused testing I ran the TS-464 as a Plex server and file store. I pushed three concurrent 4K HEVC to 1080p H.264 transcodes and watched CPU load on the Intel iGPU, confirmed the dual 2.5 GbE worked without an add on card, set up the two M.2 NVMe slots for caching, navigated the QTS interface against my Synology DSM experience, measured idle fan noise, and weighed the security considerations that come with a QNAP.

Plex transcoding, the reason to buy it

If your shopping list starts with Plex, the TS-464 is built for you. Its Intel N5095 iGPU drove three concurrent 4K HEVC transcodes down to 1080p H.264 at well under half CPU load, which is genuinely strong for a NAS in this class and means a household can stream to several devices at once without the server choking. That hardware transcoding capability, paired with a price below Synology for comparable specs, is the single strongest argument for this box. For a media server, it punches above its price.

Networking, caching, and connectivity

The hardware value continues past the iGPU. Dual 2.5 GbE LAN comes standard with no add on card needed, so you get multi gig networking out of the box, and two M.2 NVMe slots let you add read or read and write caching to speed up the array. QNAP’s QuRouter integration also allows VLAN scoped network shares for users who want to segment their network. For the money, the connectivity and expansion on offer here outpace the equivalent Synology.

The honest costs, software and security

Where the TS-464 loses ground is polish and peace of mind. The QTS interface is functional but denser and less guided than Synology’s DSM, so a first time NAS owner faces a steeper, more cluttered learning curve. More importantly, QNAP’s history of ransomware and security events means firmware discipline is mandatory, you must keep the box updated and properly firewalled, this is not a set and forget appliance. The stock fans were also audible at idle, louder than the comparable Synology, a minor but real annoyance in a quiet room.

Who should buy the QNAP TS-464?

Buy it if Plex transcoding is your top priority, you want strong hardware value with dual 2.5 GbE and NVMe caching, and you are comfortable keeping firmware current and managing security.

Skip it if you want the smoothest, most guided software experience, you do not need hardware transcoding, or you want a set and forget appliance without ongoing security vigilance, in which case a Synology suits you better.

The verdict

The TS-464 is the value pick for a transcoding focused NAS. Its Intel iGPU handled three concurrent 4K transcodes with CPU to spare, the standard dual 2.5 GbE and NVMe caching slots outclass the equivalent Synology on hardware, and it costs less. The honest tradeoffs are the denser QTS interface, fans that are audible at idle, and QNAP’s security record that makes firmware discipline non negotiable. If Plex is your reason for buying and you will keep it patched, it is a strong choice. If you want the smoother, safer feeling ride, the Synology DS923+ is the better fit.