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Force MOS Technology Co., LTD. (4923) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Force MOS Technology Co., LTD. stock TWD 19.96, price TWD 39.60, that is 49.6% below the price, quality 50 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Technology TW

FM Force MOS Technology Co., LTD. logo Thin data Nov 9, 2026

Force MOS Technology Co., LTD.

4923 · TWO
Solid, but very expensive

Our calculation puts a fair price 50% below what the stock costs today.

Revenue last quarter +23% vs. a year ago.
Quality 50/100
Fair value 19.96 TWD · Strongly overvalued
Weak Growth (revenue 3y −6.5 %/yr in TWD)
Loss-making · -2.7% net margin (TTM)
Negative free cash flow
Trails peers (3/10)
Narrow moat 17/100
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

66.70 TWD 23.60 TWD Fair Value 19.96 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

60‑month range 23.60 TWD – 66.70 TWD · fair‑value band 13.16 TWD – 24.94 TWD · the 39.60 TWD price screens above the 19.96 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.

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Company profile

Force MOS Technology Co., LTD. engages in the design, development, and sale of MOSFETs and analog integrated circuits in Taiwan and Mainland China.

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The company offers analog integrated circuits, MOSFETs, Schottky diodes, and passive components; bipolar transistors; diodes and rectifiers; and power management products, such as ESC and TVS. Its products are used in lithium battery charge and discharge protection application CSP design.

Force MOS Technology Co., LTD. was founded in 2007 and is based in New Taipei City, Taiwan.

Stock analysis

Force MOS Technology Co., LTD. (4923) currently trades at 39.60 TWD, while our model-based Fair Value estimate is 19.96 TWD, 50% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the data coverage at low.

Scenario range: 13.16 TWD (bear) to 24.94 TWD (bull), the price of 39.60 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 50/100 (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.

Force MOS Technology Co., LTD. reported revenue of 899M TWD in FY2025 versus 1.1B TWD in FY2021, a compound −5.0%/yr. Reported net income was −172M TWD in FY2025.

Key figures

Market cap 1.3B TWD (≈ $41.1M) Micro · P/S ratio 1.55 · EPS (TTM) −0.8400 TWD · Dividend yield 4.3% · Net margin −2.7% · Return on equity −5.5% · Return on assets (EBIT) 0.9% (5-year average) · Operating margin 5.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 17 out of 100 (medium confidence).

What moves the price

The share trades about 41% below its 52-week high and 43% 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 −50%, 4923 screens richer than that median.

Fair Value models

Bear 13.16 TWD Fair Value 19.96 TWD Bull 24.94 TWD
Price 39.60 TWD · Downside -49.6%
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
NCAV (Graham) 6.58 TWD 9.98 TWD 12.47 TWD 52
All 1 models by family
Asset-Based
NCAV (Graham) 6.58 TWD 9.98 TWD 12.47 TWD 52

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 50/100

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

Profitability 25
How much profit the company makes from its sales and capital
Quality Growth 37
Are margins and returns getting better?
Cashflow 7
Do the profits arrive as real cash?
Financial strength 74
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 39
How calm the share price moves, does not count
Price momentum 59
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 46
Distance to the 52-week high, does not count
New shares 85
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. 6/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+10.3%
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.
−6.5%
Profit margin (trend) ⓘ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.
15.9% (2021) → −19.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

4923 screens overvalued: fair value 50% below the price. Compare with NVIDIA Corporation →

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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.Semiconductors · 369 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside −49.6% · Below median
Profitability
Return on assets −20.8% · Bottom 25%
Net margin (12 months) −2.7% · Bottom 25%
Operating margin (12 months) 5.3% · Below median
Growth and dividend
Revenue growth (quarter YoY) 22.5% · Above median
Dividend yield (12 months) 4.3% · Top 25%

Valuation Multiplesvs Semiconductors median · lower = cheaper

P/B 3.35× · Pricier than median
P/S (12 months) 1.34× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 100
PAST (return on equity)0 · sector 28
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)85 · sector 21

VALUE 0: the price sits above our fair-value range.

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 Semiconductors stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
SK hynix Inc 000660 1,132,000 KRW 1,501,896 KRW +33% vs 4923
Taiwan Semiconductor Manufacturing Company TSM $375.44 $412.98 +10% vs 4923
NVIDIA Corporation NVDA $186.64 $198.56 +6% vs 4923
Broadcom Inc AVGO $293.69 $300.84 +2% vs 4923
Intel Corporation INTC $56.28 $52.14 −7% vs 4923
Micron Technology, Inc MU $690.00 $619.48 −10% vs 4923
Analog Devices, Inc ADI $363.56 $262.04 −28% vs 4923
Marvell Technology, Inc MRVL $141.20 $87.64 −38% vs 4923
Advanced Micro Devices, Inc AMD $449.04 $148.02 −67% vs 4923
Texas Instruments Incorporated TXN $277.36 $81.25 −71% vs 4923

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Force MOS Technology Co., LTD.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Force MOS Technology Co., LTD. Fair Value". https://www.fairvalue-calculator.com/stock/4923

Frequently asked questions

Is Force MOS Technology Co., LTD. (4923) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 19.96 TWD versus a price of 39.60 TWD, about 50% lower (overvalued).
What is the fair value of 4923?
Our model-based fair value for Force MOS Technology Co., LTD. is 19.96 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 39.60 TWD.
What is the quality score of 4923?
Force MOS Technology Co., LTD. has a Quality Score of 50/100. 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 Force MOS Technology Co., LTD. (4923)?
Our model-based price target is the fair value of 19.96 TWD (as of Nov 9, 2026) from 1 valuation models. Cautious scenario 13.16 TWD, optimistic scenario 24.94 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Force MOS Technology Co., LTD. stock forecast for 2026?
Our models put fair value at 19.96 TWD, about 50% lower versus a price of 39.60 TWD (overvalued). Cautious scenario 13.16 TWD, optimistic scenario 24.94 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Force MOS Technology Co., LTD. (4923)?
Force MOS Technology Co., LTD. reported trailing-twelve-month revenue of about 1.0B TWD (latest available figure, as of Nov 9, 2026).
Does Force MOS Technology Co., LTD. pay a dividend?
Force MOS Technology Co., LTD. currently shows a dividend yield of 4.27% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Force MOS Technology Co., LTD. (4923)?
Force MOS Technology Co., LTD. has a dividend yield of 4.3%.
What is the intrinsic value of Force MOS Technology Co., LTD. (4923)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Force MOS Technology Co., LTD. it is 19.96 TWD per share (as of Nov 9, 2026), against a price of 39.60 TWD. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Force MOS Technology Co., LTD. stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 4923 trades above its calculated fair value: price 39.60 TWD, fair value 19.96 TWD, a gap of about −50% (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 4923?
No. The price is what the market pays today (39.60 TWD); the fair value is what the company's own numbers justify (19.96 TWD). For Force MOS Technology Co., LTD. the two are 19.64 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Force MOS Technology Co., LTD. worth?
The market values Force MOS Technology Co., LTD. at about 1.3B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 39.60 TWD; our models calculate a fair value of 19.96 TWD per share.
What do the bullish and bearish scenarios say about 4923?
Our models span a range for Force MOS Technology Co., LTD.: cautious scenario 13.16 TWD, base 19.96 TWD, optimistic 24.94 TWD per share (as of Nov 9, 2026, price 39.60 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Force MOS Technology Co., LTD. (4923)?
Balance-sheet figures for Force MOS Technology Co., LTD. (as of Nov 9, 2026): return on equity −5.5%. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 4923 from its 52-week high?
Force MOS Technology Co., LTD. trades at 39.60 TWD, about 41% below its 52-week high of 66.70 TWD and 43% above the low of 27.70 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 19.96 TWD is for.
Which stocks are comparable to Force MOS Technology Co., LTD.?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, 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 Force MOS Technology Co., LTD. stock attractive at the current price?
The data as of Nov 9, 2026: price 39.60 TWD, calculated fair value 19.96 TWD (−50%), Quality Score 50/100, from 1 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 4923 calculated?
We run Force MOS Technology Co., LTD. through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 19.96 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. Force MOS Technology Co., LTD. 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 Force MOS Technology Co., LTD. (4923)?
The closing price on Nov 6, 2026 was 39.60 TWD. Our model-based fair value is 19.96 TWD, about 50% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Force MOS Technology Co., LTD. right now?
The price sits above even our optimistic bull case (24.94 TWD). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (13.16 TWD to 24.94 TWD) leaves room in how you read the outcome.

Key figures of Force MOS Technology Co., LTD.

How large is the market capitalisation of Force MOS Technology Co., LTD. (4923)?
The market capitalisation of Force MOS Technology Co., LTD. is 1.3B TWD (≈ $41.1M). 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 Force MOS Technology Co., LTD. (4923)?
The price-to-sales ratio of Force MOS Technology Co., LTD. is 1.55 (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 Force MOS Technology Co., LTD. (4923)?
Earnings per share at Force MOS Technology Co., LTD. are −0.8400 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Force MOS Technology Co., LTD. (4923)?
The dividend yield of Force MOS Technology Co., LTD. is 4.3%. 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 Force MOS Technology Co., LTD. (4923)?
The net margin of Force MOS Technology Co., LTD. is −2.7% (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 Force MOS Technology Co., LTD. (4923)?
The return on equity (ROE) of Force MOS Technology Co., LTD. is −5.5% (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 Force MOS Technology Co., LTD. (4923)?
On an EBIT basis the return on assets of Force MOS Technology Co., LTD. is 0.9% (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 Force MOS Technology Co., LTD. (4923)?
The operating margin of Force MOS Technology Co., LTD. is 5.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Force MOS Technology Co., LTD. (4923)?
Revenue at Force MOS Technology Co., LTD. is growing +22.5% versus a year earlier (3y avg −6.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Force MOS Technology Co., LTD. (4923) generate?
The free cash flow of Force MOS Technology Co., LTD. is −140M 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 Force MOS Technology Co., LTD. (4923) carry?
The net debt of Force MOS Technology Co., LTD. is 40.2M 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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