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EBM Technologies Incorporated (8409) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of EBM Technologies Incorporated stock TWD 7.97, price TWD 17.20, that is 53.7% below the price, quality 60 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare TW

ET EBM Technologies Incorporated logo Thin data Nov 5, 2026

EBM Technologies Incorporated

8409 · TWO
Very expensive, in a downtrend

Our calculation puts a fair price 54% below what the stock costs today.

Quality 60/100
Solidly profitable · 11.5% net margin (TTM)
Low debt
Ranks above peers (9/12)
Profit last quarter 62% below a year ago.
Fair value 7.97 TWD · Strongly overvalued
Weak Growth (revenue 3y −13.0 %/yr in TWD)
Negative free cash flow
Narrow moat 33/100 · thin data
Thin data
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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

34.95 TWD 15.40 TWD Fair Value 7.97 TWD May 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range 15.40 TWD – 34.95 TWD · fair‑value band 6.78 TWD – 9.15 TWD · the 17.20 TWD price screens above the 7.97 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.

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Company profile

EBM Technologies Incorporated engages in the development and marketing of software and integrity solutions to the health sector in Taiwan and internationally.

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The company offers Enterprise PACS (picture archiving and communication systems) solutions, including SoliPACS that unites various products of the radiology, mammography, and dental fields; SoliPACS Gateway, a DICOM gateway; SoliPACS Server, an interface between HIS and RIS patient data and PACS; SoliPACS Web Viewer, which enables radiologists and physicians to view, compare, utilize, and select DICOM-compliant images; SoliPACS Report, offers a tool for generating customized reports; and Advanced Server Archive, a PACS storage system.

It also provides UDE (Ubiquitous Diagnostic Environment) App, which converts standard iPad Pro into a standalone DICOM server, viewer, display, and Al all in one; MobiPACS Server to store, process, and retrieve image files for mobile devices; MobiPACS App, an in mobile medical image viewing app; MobiPACS Web Viewer for viewing images from Internet-enabled end devices; MobiPACS Share, a cloud-based platform; and MobiPACS Multi, supports doctors to connect various iPads/iPad Pros for image display.

In addition, the company offers Vital-Sign On-the-Go, a patient monitoring solution; Rad@, for viewing medical-grade images and diagnose; Digital Pathology Scanner, transforms physical slides to whole side images; AgileRIS App, an offline reporting solution; EPS Pi, a viewer ready DICOM device; and UniGate_i (UGI) App. Further, it provides Telemed, which interlinks medical facilities; Electronic Medical Record, a digital version of the paper-based individual medical record for patients' medical history; Personal Health Record, offers electronic access to the individual's medical history; and eHealth solutions for retrieving and reviewing patient images, vital sign data, and ECG waveforms.

The company was founded in 1988 and is headquartered in Taipei, Taiwan.

Stock analysis

EBM Technologies Incorporated (8409) currently trades at 17.20 TWD, while our model-based Fair Value estimate is 7.97 TWD, 54% 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 8.58 TWD per share, and 1 of the 13 models we run sit above the 17.20 TWD price.

Bear case: the Asset-Based group reads lowest at 2.42 TWD, and 12 of the 13 models stay below the price. Data coverage for this calculation is low.

Scenario range: 6.78 TWD (bear) to 9.15 TWD (bull), the price of 17.20 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 60/100 (solid quality), in the Healthcare sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

EBM Technologies Incorporated reported revenue of 253M TWD in FY2025 versus 195M TWD in FY2021, a compound +6.7%/yr. Reported net income was 7.8M TWD in FY2025.

Key figures

Market cap 550M TWD (≈ $16.8M) Micro · P/E ratio 17.0 · P/S ratio 1.94 · EPS (TTM) 1.01 TWD · Net margin 11.5% · Return on equity 11.6% · Return on assets (EBIT) −1.0% (5-year average) · Operating margin −56.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).

What moves the price

The share trades about 25% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 3% fair-value upside, at −54%, 8409 screens richer than that median.

Fair Value models

Bear 6.78 TWD Fair Value 7.97 TWD Bull 9.15 TWD
Price 17.20 TWD · Downside -53.7%
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 (0.8661 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.
Best data coverage
Owner Earnings 6.92 TWD 8.06 TWD 10.18 TWD 75
EPV 6.30 TWD 6.68 TWD 7.02 TWD 71
ROIC Compounder 6.30 TWD 6.68 TWD 7.02 TWD 69
All 13 models by family
DCF Models
Owner Earnings 6.92 TWD 8.06 TWD 10.18 TWD 75
Earnings-Based
Graham-Dodd 1.66 TWD 2.03 TWD 2.28 TWD 65
EPV 6.30 TWD 6.68 TWD 7.02 TWD 71
Multiples
P/E Multiple 4.02 TWD 5.36 TWD 6.70 TWD 63
P/S Multiple 3.11 TWD 4.14 TWD 5.18 TWD 58
P/B Multiple 16.31 TWD 21.75 TWD 27.19 TWD 55
EV/EBIT 7.89 TWD 9.18 TWD 10.48 TWD 66
EV/EBITDA 11.57 TWD 14.10 TWD 16.62 TWD 67
EV/Revenue 6.78 TWD 7.97 TWD 9.15 TWD 54
Asset-Based
NCAV (Graham) 1.59 TWD 2.42 TWD 3.02 TWD 54
Economic Profit
Residual Income 7.09 TWD 7.05 TWD 7.19 TWD 68
ROIC Compounder 6.30 TWD 6.68 TWD 7.02 TWD 69
Growth Earnings
Growth-Adj P/E 2.83 TWD 4.05 TWD 5.26 TWD 65

Open the full fair value analysis →

Quality Score breakdown

Overall quality 60/100

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

Profitability 37
How much profit the company makes from its sales and capital
Quality Growth 67
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 85
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 93
How calm the share price moves, does not count
Price momentum 23
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 5
Distance to the 52-week high, does not count
New shares 82
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. 19/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−9.9%
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.
−13.0%
What shareholders gained per year (last 3 years), in TWD (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+24.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.9%
Dividend (yield on the price)0.0%
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.−19% → 4%
2025 sits 154% above its own trend. The rate follows the median trend of the last 3 years, not that single year.

8409 screens overvalued: fair value 54% below the price. Compare with Veeva Systems Inc →

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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.Health Information Services · 117 stocks

Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 60 · Above median
Fair Value upside −53.7% · Below median
Profitability
Return on equity (12 months) 11.6% · Above median
Return on assets 1.8% · Above median
Net margin (12 months) 11.5% · Top 25%
Operating margin (12 months) −56.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 6.8% · Below median
Balance sheet
Debt / equity 0.01× · Below median

Valuation Multiplesvs Health Information Services median · lower = cheaper

P/E (12 months) 17.0× · Cheaper than median
P/B 1.73× · Cheaper than median
P/S (12 months) 1.94× · Cheaper than median
EV/EBITDA 10.4× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 5
FUTURE (revenue growth)34 · sector 46
PAST (return on equity)46 · sector 10
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)0 · sector 41

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 Health Information Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Veeva Systems Inc VEEV $303.73 $334.10 +10% vs 8409
HealthEquity, Inc HQY $103.63 $113.99 +10% vs 8409
Doximity, Inc DOCS $32.51 $35.76 +10% vs 8409
Inventurus Knowledge Solutions Limited IKS ₹1,657 ₹1,823 +10% vs 8409
Waystar Holding WAY $28.35 $29.10 +3% vs 8409
Hinge Health, Inc HNGE $115.76 $51.25 −56% vs 8409
Pro Medicus Limited PME A$205.49 A$85.12 −59% vs 8409
BrightSpring Health Services, Inc BTSG $67.15 $25.72 −62% vs 8409
XtalPi Holdings 2228 HK$6.13 HK$1.53 −75% vs 8409
Privia Health Group PRVA $24.42 $5.52 −77% vs 8409

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EBM Technologies Incorporated: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "EBM Technologies Incorporated Fair Value". https://www.fairvalue-calculator.com/stock/8409

Frequently asked questions

Is EBM Technologies Incorporated (8409) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 7.97 TWD versus a price of 17.20 TWD, about 54% lower (overvalued).
What is the fair value of 8409?
Our model-based fair value for EBM Technologies Incorporated is 7.97 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 17.20 TWD.
What is the quality score of 8409?
EBM Technologies Incorporated has a Quality Score of 60/100. 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 EBM Technologies Incorporated (8409)?
Our model-based price target is the fair value of 7.97 TWD (as of Nov 5, 2026) from 13 valuation models. Cautious scenario 6.78 TWD, optimistic scenario 9.15 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the EBM Technologies Incorporated stock forecast for 2026?
Our models put fair value at 7.97 TWD, about 54% lower versus a price of 17.20 TWD (overvalued). Cautious scenario 6.78 TWD, optimistic scenario 9.15 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of EBM Technologies Incorporated (8409)?
EBM Technologies Incorporated reported trailing-twelve-month revenue of about 284M TWD (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of EBM Technologies Incorporated (8409)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EBM Technologies Incorporated it is 7.97 TWD per share (as of Nov 5, 2026), against a price of 17.20 TWD. It is the blended result of 13 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is EBM Technologies Incorporated stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 8409 trades above its calculated fair value: price 17.20 TWD, fair value 7.97 TWD, a gap of about −54% (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 8409?
No. The price is what the market pays today (17.20 TWD); the fair value is what the company's own numbers justify (7.97 TWD). For EBM Technologies Incorporated the two are 9.23 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is EBM Technologies Incorporated worth?
The market values EBM Technologies Incorporated at about 550M TWD (market capitalisation, as of Nov 5, 2026). Per share that is 17.20 TWD; our models calculate a fair value of 7.97 TWD per share.
What do the bullish and bearish scenarios say about 8409?
Our models span a range for EBM Technologies Incorporated: cautious scenario 6.78 TWD, base 7.97 TWD, optimistic 9.15 TWD per share (as of Nov 5, 2026, price 17.20 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8409?
EBM Technologies Incorporated trades at a price-to-earnings ratio of 17.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 7.97 TWD is built from several models across several years. Other multiples: P/B 1.7, P/S 1.9, EV/EBITDA 10.4.
How solid is the balance sheet of EBM Technologies Incorporated (8409)?
Balance-sheet figures for EBM Technologies Incorporated (as of Nov 5, 2026): return on equity 11.6%, debt of 0.01 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 8409 from its 52-week high?
EBM Technologies Incorporated trades at 17.20 TWD, about 25% below its 52-week high of 22.90 TWD and at the low of 17.20 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 7.97 TWD is for.
Which stocks are comparable to EBM Technologies Incorporated?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, Hinge Health, 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 EBM Technologies Incorporated stock attractive at the current price?
The data as of Nov 5, 2026: price 17.20 TWD, calculated fair value 7.97 TWD (−54%), Quality Score 60/100, 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 8409 calculated?
We run EBM Technologies Incorporated through 13 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 7.97 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. EBM Technologies Incorporated 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 EBM Technologies Incorporated (8409)?
The closing price on Nov 6, 2026 was 17.20 TWD. Our model-based fair value is 7.97 TWD, about 54% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EBM Technologies Incorporated right now?
The price sits above even our optimistic bull case (9.15 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 (60/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of EBM Technologies Incorporated

How large is the market capitalisation of EBM Technologies Incorporated (8409)?
The market capitalisation of EBM Technologies Incorporated is 550M TWD (≈ $16.8M). 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 EBM Technologies Incorporated (8409)?
The price-to-sales ratio of EBM Technologies Incorporated is 1.94 (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 EBM Technologies Incorporated (8409)?
Earnings per share at EBM Technologies Incorporated are 1.01 TWD (price ÷ EPS = P/E 17.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of EBM Technologies Incorporated (8409)?
The net margin of EBM Technologies Incorporated is 11.5% (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 EBM Technologies Incorporated (8409)?
The return on equity (ROE) of EBM Technologies Incorporated is 11.6% (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 EBM Technologies Incorporated (8409)?
On an EBIT basis the return on assets of EBM Technologies Incorporated is −1.0% (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 EBM Technologies Incorporated (8409)?
The operating margin of EBM Technologies Incorporated is −56.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EBM Technologies Incorporated (8409)?
Revenue at EBM Technologies Incorporated is growing +6.8% versus a year earlier (3y avg −13.0%). 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 EBM Technologies Incorporated (8409)?
Earnings per share at EBM Technologies Incorporated are growing −61.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does EBM Technologies Incorporated (8409) generate?
The free cash flow of EBM Technologies Incorporated is −75.3M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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