MicroBase Technology Corp. (3184) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of MicroBase Technology Corp. stock TWD 11.92, price TWD 14.40, that is 17.2% below the price, quality 62 out of 100. Rating: overvalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 8.78 TWD – 34.57 TWD · fair‑value band 9.19 TWD – 13.35 TWD · the 14.40 TWD price screens above the 11.92 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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MicroBase Technology Corp. engages in the research, design, manufacture, and sale of components and products of micro-atomization and micro-needles for medical, cosmetic and electronic applications in Taiwan. The company develops non-silicon-based micro-electro-mechanical systems.
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It offers industrial inkjet head; soft mist inhaler, for the treatment of chronic obstructive pulmonary disease, lower respiratory tract infections, and chronic respiratory diseases; Pocket Air, an aerosol drug delivery solution; and soluble and insoluble microneedles.
MicroBase Technology Corp. was founded in 1997 and is based in Taoyuan City, Taiwan.
Stock analysis
MicroBase Technology Corp. (3184) currently trades at 14.40 TWD, while our model-based Fair Value estimate is 11.92 TWD, 17% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 17.83 TWD per share, and 4 of the 22 models we run sit above the 14.40 TWD price.
Bear case: the Asset-Based group reads lowest at 2.70 TWD, and 18 of the 22 models stay below the price. Data coverage for this calculation is low.
Scenario range: 9.19 TWD (bear) to 13.35 TWD (bull), the price of 14.40 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
MicroBase Technology Corp. reported revenue of 212M TWD in FY2025 versus 213M TWD in FY2021, a compound −0.1%/yr. Reported net income was 30.1M TWD in FY2025.
Key figures
Market cap 903M TWD (≈ $27.5M) Micro · P/E ratio 20.9 · P/S ratio 4.28 · EPS (TTM) 0.6900 TWD · Dividend yield 1.5% · Net margin 20.7% · Return on equity 6.6% · Return on assets (EBIT) 2.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 64% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at −17%, 3184 screens richer than that median.
Fair Value models
Bear9.19 TWDFair Value 11.92 TWDBull13.35 TWD
Price 14.40 TWD · Downside -17.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.4022 TWD per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−1.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.3%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+21.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.9%
Dividend (yield on the price)1.5%
Profit margin 2020 to 2024 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−30% → 25%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+16.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +14.4% a year for the price.
Compare MicroBase Technology Corp. with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electronic Components · 655 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−17.2% · Above median
Profitability
Return on equity (12 months)6.6% · Below median
Return on assets3.9% · Above median
Net margin (12 months)20.7% · Top 25%
Operating margin (12 months)26.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−0.7% · Below median
Dividend yield (12 months)1.5% · Above median
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (12 months)20.9× · Cheaper than median
P/B1.37× · Cheaper than median
P/S (12 months)4.28× · Priciest 25%
Price / free cash flow (fiscal year)40.0× · Pricier than median
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Is MicroBase Technology Corp. (3184) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 11.92 TWD versus a price of 14.40 TWD, about 17% lower (overvalued).
What is the fair value of 3184?
Our model-based fair value for MicroBase Technology Corp. is 11.92 TWD (as of Nov 3, 2026), built from audited fundamentals. The current price: 14.40 TWD.
What is the quality score of 3184?
MicroBase Technology Corp. has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for MicroBase Technology Corp. (3184)?
Our model-based price target is the fair value of 11.92 TWD (as of Nov 3, 2026) from 22 valuation models. Cautious scenario 9.19 TWD, optimistic scenario 13.35 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the MicroBase Technology Corp. stock forecast for 2026?
Our models put fair value at 11.92 TWD, about 17% lower versus a price of 14.40 TWD (overvalued). Cautious scenario 9.19 TWD, optimistic scenario 13.35 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of MicroBase Technology Corp. (3184)?
MicroBase Technology Corp. reported trailing-twelve-month revenue of about 211M TWD (latest available figure, as of Nov 3, 2026).
Does MicroBase Technology Corp. pay a dividend?
MicroBase Technology Corp. currently shows a dividend yield of 1.53% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of MicroBase Technology Corp. (3184) and when is the ex-dividend date?
MicroBase Technology Corp. pays a dividend of 0.221 TWD per share a year, a dividend yield of 1.5%. The last ex-dividend date was Jul 13, 2026. The payout ratio is 32.0% of earnings. Free cash flow covers the dividend 1.63 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into MicroBase Technology Corp. (3184)?
For today's price to be fair in a discounted-cash-flow model, MicroBase Technology Corp. would have to grow free cash flow by +16.2 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -3.3 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 3184 use?
Our models discount MicroBase Technology Corp. at 9.3 %: a base by market capitalisation (nano), damped by beta 0.61, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For MicroBase Technology Corp. that is +16.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has MicroBase Technology Corp. (3184) delivered so far?
Over the past 5 years revenue at MicroBase Technology Corp. grew -3.3 % a year. The price currently implies free-cash-flow growth of +16.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of MicroBase Technology Corp. (3184) growing?
The median revenue growth in the sector is +16.8 % a year. That is the yardstick for the growth priced into MicroBase Technology Corp. (+16.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of MicroBase Technology Corp. (3184)?
The free-cash-flow yield on the price is 2.49 %: that much free cash flow MicroBase Technology Corp. produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of MicroBase Technology Corp. (3184)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MicroBase Technology Corp. it is 11.92 TWD per share (as of Nov 3, 2026), against a price of 14.40 TWD. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is MicroBase Technology Corp. stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 3184 trades above its calculated fair value: price 14.40 TWD, fair value 11.92 TWD, a gap of about −17% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 3184?
No. The price is what the market pays today (14.40 TWD); the fair value is what the company's own numbers justify (11.92 TWD). For MicroBase Technology Corp. the two are 2.48 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is MicroBase Technology Corp. worth?
The market values MicroBase Technology Corp. at about 903M TWD (market capitalisation, as of Nov 3, 2026). Per share that is 14.40 TWD; our models calculate a fair value of 11.92 TWD per share.
What do the bullish and bearish scenarios say about 3184?
Our models span a range for MicroBase Technology Corp.: cautious scenario 9.19 TWD, base 11.92 TWD, optimistic 13.35 TWD per share (as of Nov 3, 2026, price 14.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3184?
MicroBase Technology Corp. trades at a price-to-earnings ratio of 20.9 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 11.92 TWD is built from several models across several years. Other multiples: P/B 1.4, P/S 4.3, EV/EBITDA 12.1.
How solid is the balance sheet of MicroBase Technology Corp. (3184)?
Balance-sheet figures for MicroBase Technology Corp. (as of Nov 3, 2026): return on equity 6.6%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 3184 from its 52-week high?
MicroBase Technology Corp. trades at 14.40 TWD, about 58% below its 52-week high of 34.57 TWD and 64% above the low of 8.78 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 11.92 TWD is for.
Which stocks are comparable to MicroBase Technology Corp.?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is MicroBase Technology Corp. stock attractive at the current price?
The data as of Nov 3, 2026: price 14.40 TWD, calculated fair value 11.92 TWD (−17%), Quality Score 62/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 3184 calculated?
We run MicroBase Technology Corp. through 22 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 11.92 TWD builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. MicroBase Technology Corp. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of MicroBase Technology Corp. (3184)?
The closing price on Nov 9, 2026 was 14.40 TWD. Our model-based fair value is 11.92 TWD, about 17% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MicroBase Technology Corp. right now?
The price sits above even our optimistic bull case (13.35 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of MicroBase Technology Corp.
How large is the market capitalisation of MicroBase Technology Corp. (3184)?
The market capitalisation of MicroBase Technology Corp. is 903M TWD (≈ $27.5M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of MicroBase Technology Corp. (3184)?
The price-to-sales ratio of MicroBase Technology Corp. is 4.28 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of MicroBase Technology Corp. (3184)?
Earnings per share at MicroBase Technology Corp. are 0.6900 TWD (price ÷ EPS = P/E 20.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of MicroBase Technology Corp. (3184)?
The dividend yield of MicroBase Technology Corp. is 1.5% (payout 32.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of MicroBase Technology Corp. (3184)?
The net margin of MicroBase Technology Corp. is 20.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of MicroBase Technology Corp. (3184)?
The return on equity (ROE) of MicroBase Technology Corp. is 6.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of MicroBase Technology Corp. (3184)?
On an EBIT basis the return on assets of MicroBase Technology Corp. is 2.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of MicroBase Technology Corp. (3184)?
The operating margin of MicroBase Technology Corp. is 26.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MicroBase Technology Corp. (3184)?
Revenue at MicroBase Technology Corp. is growing −0.7% versus a year earlier (3y avg +5.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at MicroBase Technology Corp. (3184)?
Earnings per share at MicroBase Technology Corp. are growing +70.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does MicroBase Technology Corp. (3184) hold?
MicroBase Technology Corp. holds more cash than debt, 175M TWD net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 3, 2026