IEI Integration Corp (3022) Fair Value & Analysis

Technology · TW · Market cap 16.1B TWD

Below-average quality, and screening another 31% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (91.84 TWD). The favourable scenario is already priced in.
• Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 34.88 TWD – 110.90 TWD · fair‑value band 53.37 TWD – 91.84 TWD · the 103.00 TWD price screens above the 70.65 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

IEI Integration Corp (3022) currently trades at 103.00 TWD, while our model-based Fair Value estimate is 70.65 TWD, implying the stock looks roughly 31.4% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, IEI Integration Corp generated revenue of 6.3B TWD at a net margin of 9.8%. Revenue declined 10.4% year over year. It earns a return on equity of 5.4%. The balance sheet holds a net cash position of 2.5B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 53.37 TWD (bear case) to 91.84 TWD (bull case); at 103.00 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 86% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -31%, 3022 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Growth Earnings (70.65 TWD) versus DCF Models (23.12 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

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 …

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

3022 screens 31% overvalued. Compare with Compal Electronics, Inc →

Peer Group

Computer Hardware · 215 stocks

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.

Valuation Multiples vs Computer Hardware median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

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

Values & ESG

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.