IEI Integration Corp (3022) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of IEI Integration Corp TWD 88.11, price TWD 93.10, upside -5.4%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 34.88 TWD – 113.00 TWD · fair‑value band 68.45 TWD – 106.64 TWD · the 93.10 TWD price screens above the 88.11 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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IEI Integration Corp. provides industrial computer products worldwide. It offers AIoT and edge computing products, comprising AI developer kits, time-sensitive networking, TPU, VPU, and FPGA AI accelerators, AI embedded systems, and IEI devcloud; networking appliances, including NGFW firewalls, wireless gateways, WAN, UTM, ADC, routers, VPN, etc.; storage servers; and network modules. The company also provides embedded computer consisting full size and half size single board computers, backplane, industrial motherboards, embedded boards, computer on modules, RISC board computers, ETX / COM EXPRESS / Q7, and accelerator cards, as well as LCD converter boards; PCI/PCIe expansion cards; and wireless, mini-PCIe, PM, audio kits, remote management modules, and TPM modules. In addition, it offers embedded systems, including AI-powered box PCs, DIN-rail, rugged, transportation, digital signage, and compact size embedded systems, medical box PCs, as well as rackmount, embedded, and compact chassis; panel PC and monitor products, such as heavy and light industrial, and medical panel PCs; medical computer and ODMs; as well as advanced video solutions. Further, the company provides power supply products, which include adapters, DC to DC modules, and redundant power supply; Ivec, Irm, AND iSMM + Intelligent System Management Module softwares; and ePaper Display and ePaper Content Management System solutions; and peripherals, such as industrial compact flash cards, CPU coolers, cables and connectors, mounting kits and stands, and drive bays. Its products are used in factory automation, computer telephony integration, networking appliances, security, systems, and in fields like AI, IoT, national defense, police administration, transportation, communication base stations, and medical instruments applications. The company was formerly known as ICP Electronics Inc. IEI Integration Corp. was incorporated in 1997 and is headquartered in New Taipei City, Taiwan.
Stock analysis
IEI Integration Corp (3022) currently trades at 93.10 TWD, while our model-based Fair Value estimate is 88.11 TWD, implying the stock looks roughly 5.7% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 97.78 TWD per share, and 2 of the 13 models we run sit above the 93.10 TWD price.
Bear case: the DCF Models group reads lowest at 20.81 TWD, and 11 of the 13 models stay below the price. Evidence for this calculation is medium.
Scenario range: 68.45 TWD (bear) to 106.64 TWD (bull), the price of 93.10 TWD sits inside 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 48/100 (below-average quality), in the Technology sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
IEI Integration Corp reported revenue of 6.5B TWD in FY2025 versus 6.2B TWD in FY2021, a compound +1.1%/yr. Reported net income was 823M TWD in FY2025, compounding −1.3%/yr from FY2021.
Key figures
Market cap 16.5B TWD (≈ $520M) · P/E ratio 20.2 · P/S ratio 2.56 · EPS (TTM) 4.60 TWD · Dividend yield 3.8% · Net margin 12.6% · Return on equity 5.4% · Return on assets (EBIT) 8.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 66% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −33% fair-value upside, at −5%, 3022 screens cheaper than that median.
Fair Value models
Bear 68.45 TWDFair Value 88.11 TWDBull 106.64 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.8047 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.Evidence ⓘEvidence = 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.23/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−4.8%
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.
−6.4%
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.
+1.8%
Start year 2020 (pandemic). Over 10 years: −0.5% a year
Revenue growth 23 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.
+4.6%
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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.
+2.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.0%
Dividend (yield on the price)3.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−1% vs −5%, picking up
Profit margin 2019 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.16% → 9%
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.Computer Hardware · 220 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−5% · Above median
Profitability
Return on equity (TTM)5% · Below median
Return on assets2% · Below median
Net margin (TTM)10% · Top 25%
Operating margin (TTM)2% · Below median
Growth and dividend
Revenue growth−10% · Bottom 25%
Dividend yield (TTM)3.8% · Above median
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Computer Hardware median · lower = cheaper
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Is IEI Integration Corp (3022) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 88.11 TWD versus a price of 93.10 TWD, about −5% upside (fairly valued).
What is the fair value of 3022?
Our model-based fair value for IEI Integration Corp is 88.11 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 93.10 TWD.
What is the quality score of 3022?
IEI Integration Corp has a Quality Score of 48/100. 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 IEI Integration Corp (3022)?
Our model-based price target is the fair value of 88.11 TWD (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 68.45 TWD, optimistic scenario 106.64 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the IEI Integration Corp stock forecast for 2026?
Our models put fair value at 88.11 TWD, about −5% upside versus a price of 93.10 TWD (fairly valued). Cautious scenario 68.45 TWD, optimistic scenario 106.64 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of IEI Integration Corp (3022)?
IEI Integration Corp reported trailing-twelve-month revenue of about 6.3B TWD (latest available figure, as of Sep 24, 2026).
Does IEI Integration Corp pay a dividend?
IEI Integration Corp currently shows a dividend yield of about 3.76% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of IEI Integration Corp (3022)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IEI Integration Corp it is 88.11 TWD per share (as of Sep 24, 2026), against a price of 93.10 TWD. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is IEI Integration Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3022 trades above its calculated fair value: price 93.10 TWD, fair value 88.11 TWD, a gap of about −5% (fairly valued). 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 3022?
No. The price is what the market pays today (93.10 TWD); the fair value is what the company's own numbers justify (88.11 TWD). For IEI Integration Corp the two are 4.99 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is IEI Integration Corp worth?
The market values IEI Integration Corp at about 16.5B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 93.10 TWD; our models calculate a fair value of 88.11 TWD per share.
What do the bullish and bearish scenarios say about 3022?
Our models span a range for IEI Integration Corp: cautious scenario 68.45 TWD, base 88.11 TWD, optimistic 106.64 TWD per share (as of Sep 24, 2026, price 93.10 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3022?
IEI Integration Corp trades at a price-to-earnings ratio of 20.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 88.11 TWD is built from several models across several years. Other multiples: PEG 1.6, P/B 1.5, P/S 2.6, EV/EBITDA 26.4.
What is the PEG ratio of 3022?
The PEG ratio of IEI Integration Corp is 1.61 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of IEI Integration Corp (3022)?
Balance-sheet figures for IEI Integration Corp (as of Sep 24, 2026): return on equity 5.4%, debt of 0.03 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 3022 from its 52-week high?
IEI Integration Corp trades at 93.10 TWD, about 18% below its 52-week high of 113.00 TWD and 66% above the low of 56.20 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 88.11 TWD is for.
Which stocks are comparable to IEI Integration Corp?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Western Digital Corporation, Wiwynn 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 IEI Integration Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 93.10 TWD, calculated fair value 88.11 TWD (−5%), Quality Score 48/100, 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 3022 calculated?
We run IEI Integration Corp through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 88.11 TWD, 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 14.1 % above its aggregate fair value. IEI Integration 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 IEI Integration Corp (3022)?
The closing price on Sep 24, 2026 was 93.10 TWD. Our model-based fair value is 88.11 TWD, about −5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IEI Integration Corp right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of IEI Integration Corp (3022) come from?
Earnings per share at IEI Integration Corp grew −0.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.1 %, EBIT margin −7.6 %, tax rate +0.1 %, residual (interest, one-offs) +7.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of IEI Integration Corp
How large is the market capitalisation of IEI Integration Corp (3022)?
The market capitalisation of IEI Integration Corp is 16.5B TWD (≈ $520M). 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 IEI Integration Corp (3022)?
The price-to-sales ratio of IEI Integration Corp is 2.56 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of IEI Integration Corp (3022)?
Earnings per share at IEI Integration Corp are 4.60 TWD (price ÷ EPS = P/E 20.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of IEI Integration Corp (3022)?
The dividend yield of IEI Integration Corp is 3.8% (payout 76.1%). 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 IEI Integration Corp (3022)?
The net margin of IEI Integration Corp is 12.6% (fiscal year 2025). 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 IEI Integration Corp (3022)?
The return on equity (ROE) of IEI Integration Corp is 5.4% (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 IEI Integration Corp (3022)?
On an EBIT basis the return on assets of IEI Integration Corp is 8.2% (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 IEI Integration Corp (3022)?
The operating margin of IEI Integration Corp is 2.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IEI Integration Corp (3022)?
Revenue at IEI Integration Corp is growing −10.4% versus a year earlier (3y avg −6.4%). 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 IEI Integration Corp (3022)?
Earnings per share at IEI Integration Corp are growing −53.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does IEI Integration Corp (3022) generate?
The free cash flow of IEI Integration Corp is −357M 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 cash does IEI Integration Corp (3022) hold?
IEI Integration Corp holds more cash than debt, 2.5B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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