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Ingentec Corporation (4768) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Ingentec Corporation stock TWD 406, price TWD 254, upside +60.0%, quality 34 out of 100. Rating: strongly undervalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.

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Basic Materials TW

IC Ingentec Corporation logo Thin data Nov 2, 2026

Ingentec Corporation

4768 · TWO
Cheap, value-trap risk

The stock costs 38% less than our calculation considers fair.

Fair value 406.40 TWD · Strongly undervalued (38%)
Revenue last quarter +124% vs. a year ago.
Expensive Growth (revenue 3y +4.2 %/yr in TWD)
Loss over the last twelve months · -1.7% net margin (TTM) · fiscal year 2025 1.5%
Moderate debt
Quality 34/100
Negative free cash flow
Trails peers (2/11)
Narrow moat 18/100
Thin data
⟳ Cyclical
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

528.60 TWD 64.67 TWD Fair Value 406.40 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.

How to read this chart

60‑month range 64.67 TWD – 528.60 TWD · fair‑value band 302.11 TWD – 528.13 TWD · the 254.00 TWD price screens below the 406.40 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.

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Company profile

Ingentec Corporation, together with its subsidiaries, engages in manufacturing and sales of precision chemicals for various optoelectronic and semiconductor industry.

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The company offers fine chemical distillation technology, such as specialty gas; vapor etching and decomposition technology, comprising dry etching foundry services; intrinsic magnetization filmy thermal conductivity technology, which include copper magnetic wafer, top face emitting pixel package, CMuLED, power red chips, and TransVivi Pixel.

In addition, it is involved in international trading business of semiconductors, flat panels display, printed circuit board, photovoltaic, and LEP. Additionally, the company provides Wet chemicals; and TVG glass core products.

Ingentec Corporation was founded in 2010 and is headquartered in Miaoli, Taiwan.

Stock analysis

Ingentec Corporation (4768) currently trades at 254.00 TWD, while our model-based Fair Value estimate is 406.40 TWD, implying the stock looks roughly 38% undervalued today.

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Valuation

Bull case: the Dividend Discount group reads highest at a median of 1,149 TWD per share, and 9 of the 12 models we run sit above the 254.00 TWD price.

Bear case: the Earnings-Based group reads lowest at 214.50 TWD, and 3 of the 12 models stay below the price. Data coverage for this calculation is low.

Scenario range: 302.11 TWD (bear) to 528.13 TWD (bull), the price of 254.00 TWD sits below 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 34/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Ingentec Corporation reported revenue of 1.2B TWD in FY2025 versus 700M TWD in FY2021, a compound +15.1%/yr. Reported net income was 18.7M TWD in FY2025, compounding −27.5%/yr from FY2021.

Key figures

Market cap 12.5B TWD (≈ $382M) Small · P/S ratio 9.30 · EPS (TTM) −0.5900 TWD · Dividend yield 1.1% · Net margin −1.7% · Return on equity −2.2% · Return on assets (EBIT) 8.4% (5-year average) · Operating margin −1.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 18 out of 100 (medium confidence).

What moves the price

The share trades about 52% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at 60%, 4768 screens cheaper than that median.

Fair Value models

Bear 302.11 TWD Fair Value 406.40 TWD Bull 528.13 TWD
Price 254.00 TWD · Upside +60.0%
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. 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.
Best data coverage
Residual Income 565.92 TWD 596.89 TWD 645.14 TWD 73
Gordon GGM 690.77 TWD 1,187 TWD 1,571 TWD 65
DDM Multi-Stage 690.77 TWD 1,111 TWD 1,274 TWD 65
All 13 models by family
Earnings-Based
Graham-Dodd 86.06 TWD 524.52 TWD 731.52 TWD 61
Lynch FV 150.28 TWD 214.50 TWD 278.72 TWD 58
PEG = 1.0 150.28 TWD 214.50 TWD 278.72 TWD 55
Dividend Discount
Gordon GGM 690.77 TWD 1,187 TWD 1,571 TWD 65
DDM Multi-Stage 690.77 TWD 1,111 TWD 1,274 TWD 65
Multiples
P/E Multiple 265.36 TWD 353.70 TWD 442.37 TWD 63
P/S Multiple 161.04 TWD 214.83 TWD 268.62 TWD 57
P/B Multiple 4,574 TWD 6,099 TWD 7,624 TWD 55
EV/EBIT n/a n/a 79.22 TWD 60
EV/EBITDA 527.78 TWD 881.15 TWD 1,235 TWD 65
Asset-Based
NCAV (Graham) 508.22 TWD 680.99 TWD 1,016 TWD 53
Economic Profit
Residual Income 565.92 TWD 596.89 TWD 645.14 TWD 73
Growth Earnings
Growth-Adj P/E 249.71 TWD 356.96 TWD 463.89 TWD 65

The fair value above starts from this blend and is adjusted for a cyclical trough year.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 34/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 18
How much profit the company makes from its sales and capital
Quality Growth 25
Are margins and returns getting better?
Cashflow 43
Do the profits arrive as real cash?
Financial strength 56
Debt, balance sheet and risk of trouble
Investment 18
Does it invest with discipline instead of growing at any price?
Low Volatility 29
How calm the share price moves, does not count
Price momentum 34
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 26
Distance to the 52-week high, does not count
New shares 69
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 29/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+20.9%
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.
+4.2%
What shareholders gained per year (last 5 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 5 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.
−24.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−25.6%
Dividend (yield on the price)1.1%
Profit margin 2021 to 2025 ⓘ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.20% → 3%

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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.Specialty Chemicals · 727 stocks

Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 34 · Bottom 25%
Fair Value upside +60.0% · Top 25%
Profitability
Return on assets 0.6% · Below median
Net margin (12 months) −2.2% · Bottom 25%
Operating margin (12 months) −1.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 124.4% · Top 25%
Dividend yield (12 months) 1.1% · Below median
Balance sheet
Debt / equity 0.70× · Highest 25%

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/B 8.32× · Priciest 25%
P/S (12 months) 9.40× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)100 · sector 67
PAST (return on equity)0 · sector 26
HEALTH (low debt)65 · sector 95
DIVIDEND (yield)23 · sector 30

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Nan Ya Plastics Corporation 1303 239.50 TWD 383.20 TWD +60% vs 4768
Wanhua Chemical Group 600309 ¥72.65 ¥68.03 −6% vs 4768
Linde plc LIN $515.25 $446.62 −13% vs 4768
PPG Industries, Inc PPG $122.38 $77.68 −37% vs 4768
DSM-Firmenich AG DSFIR CHF 100.50 CHF 57.70 −43% vs 4768
The Sherwin-Williams Company SHW $344.10 $146.37 −57% vs 4768
Givaudan SA GIVN CHF 4,054 CHF 1,554 −62% vs 4768
EMS-CHEMIE HOLDING AG EMSN CHF 848.50 CHF 284.63 −66% vs 4768
Ecolab Inc ECL $300.68 $96.56 −68% vs 4768
Air Products and Chemicals, Inc APD $304.84 $82.92 −73% vs 4768

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Ingentec Corporation: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Ingentec Corporation Fair Value". https://www.fairvalue-calculator.com/stock/4768

Frequently asked questions

Is Ingentec Corporation (4768) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of 406.40 TWD versus a price of 254.00 TWD, about +60% upside (undervalued).
What is the fair value of 4768?
Our model-based fair value for Ingentec Corporation is 406.40 TWD (as of Nov 2, 2026), built from audited fundamentals. The current price: 254.00 TWD.
What is the quality score of 4768?
Ingentec Corporation has a Quality Score of 34/100. 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 Ingentec Corporation (4768)?
Our model-based price target is the fair value of 406.40 TWD (as of Nov 2, 2026) from 13 valuation models. Cautious scenario 302.11 TWD, optimistic scenario 528.13 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Ingentec Corporation stock forecast for 2026?
Our models put fair value at 406.40 TWD, about +60% upside versus a price of 254.00 TWD (undervalued). Cautious scenario 302.11 TWD, optimistic scenario 528.13 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Ingentec Corporation (4768)?
Ingentec Corporation reported trailing-twelve-month revenue of about 1.7B TWD (latest available figure, as of Nov 2, 2026).
Does Ingentec Corporation pay a dividend?
Ingentec Corporation currently shows a dividend yield of 1.14% relative to its recent price (as of Nov 2, 2026).
How much is the dividend of Ingentec Corporation (4768)?
Ingentec Corporation has a dividend yield of 1.1%.
What is the intrinsic value of Ingentec Corporation (4768)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ingentec Corporation it is 406.40 TWD per share (as of Nov 2, 2026), against a price of 254.00 TWD. It is the blended result of 13 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Ingentec Corporation stock overvalued or undervalued in 2026?
As of Nov 2, 2026, 4768 trades below its calculated fair value: price 254.00 TWD, fair value 406.40 TWD, a gap of about +60% (undervalued). 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 4768?
No. The price is what the market pays today (254.00 TWD); the fair value is what the company's own numbers justify (406.40 TWD). For Ingentec Corporation the two are 152.40 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Ingentec Corporation worth?
The market values Ingentec Corporation at about 12.5B TWD (market capitalisation, as of Nov 2, 2026). Per share that is 254.00 TWD; our models calculate a fair value of 406.40 TWD per share.
What do the bullish and bearish scenarios say about 4768?
Our models span a range for Ingentec Corporation: cautious scenario 302.11 TWD, base 406.40 TWD, optimistic 528.13 TWD per share (as of Nov 2, 2026, price 254.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ingentec Corporation (4768)?
Balance-sheet figures for Ingentec Corporation (as of Nov 2, 2026): return on equity −2.2%, debt of 0.70 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is 4768 from its 52-week high?
Ingentec Corporation trades at 254.00 TWD, about 52% below its 52-week high of 528.60 TWD and 32% above the low of 192.08 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 406.40 TWD is for.
Which stocks are comparable to Ingentec Corporation?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 Ingentec Corporation stock attractive at the current price?
The data as of Nov 2, 2026: price 254.00 TWD, calculated fair value 406.40 TWD (+60%), Quality Score 34/100, from 13 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 4768 calculated?
We run Ingentec Corporation through 13 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 406.40 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 13.0% above its aggregate fair value. Ingentec Corporation currently trades 38% below its own fair value, and the market average says nothing about that. 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 Ingentec Corporation (4768)?
The closing price on Nov 6, 2026 was 254.00 TWD. Our model-based fair value is 406.40 TWD, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ingentec Corporation right now?
The large discount to fair value meets weak quality (34/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (302.11 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Ingentec Corporation

How large is the market capitalisation of Ingentec Corporation (4768)?
The market capitalisation of Ingentec Corporation is 12.5B TWD (≈ $382M). 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 Ingentec Corporation (4768)?
The price-to-sales ratio of Ingentec Corporation is 9.30 (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 Ingentec Corporation (4768)?
Earnings per share at Ingentec Corporation are −0.5900 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ingentec Corporation (4768)?
The dividend yield of Ingentec Corporation is 1.1%. 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 Ingentec Corporation (4768)?
The net margin of Ingentec Corporation is −1.7% (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 Ingentec Corporation (4768)?
The return on equity (ROE) of Ingentec Corporation is −2.2% (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 Ingentec Corporation (4768)?
On an EBIT basis the return on assets of Ingentec Corporation is 8.4% (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 Ingentec Corporation (4768)?
The operating margin of Ingentec Corporation is −1.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ingentec Corporation (4768)?
Revenue at Ingentec Corporation is growing +124% versus a year earlier (3y avg +4.2%). 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 Ingentec Corporation (4768)?
Earnings per share at Ingentec Corporation are growing −2.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ingentec Corporation (4768) generate?
The free cash flow of Ingentec Corporation is −323M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ingentec Corporation (4768) carry?
The net debt of Ingentec Corporation is 1.0B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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