MicroBase Technology Corp. (3184) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of MicroBase Technology Corp. TWD 10.90, price TWD 17.75, upside -38.6%, quality 64 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 8.78 TWD – 34.57 TWD · fair‑value band 8.96 TWD – 13.12 TWD · the 17.75 TWD price screens above the 10.90 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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MicroBase Technology Corp. engages in the research, design, manufacture, and sale of components and products of micro-atomization and micro-needles for medical, cosmetic and electronic applications in Taiwan. The company develops non-silicon-based micro-electro-mechanical systems.
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MicroBase Technology Corp. engages in the research, design, manufacture, and sale of components and products of micro-atomization and micro-needles for medical, cosmetic and electronic applications in Taiwan. The company develops non-silicon-based micro-electro-mechanical systems. It offers industrial inkjet head; soft mist inhaler, for the treatment of chronic obstructive pulmonary disease, lower respiratory tract infections, and chronic respiratory diseases; Pocket Air, an aerosol drug delivery solution; and soluble and insoluble microneedles. MicroBase Technology Corp. was founded in 1997 and is based in Taoyuan City, Taiwan.
Stock analysis
MicroBase Technology Corp. (3184) currently trades at 17.75 TWD, while our model-based Fair Value estimate is 10.90 TWD, implying the stock looks roughly 62.8% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 13.04 TWD per share, and 2 of the 22 models we run sit above the 17.75 TWD price.
Bear case: the Earnings-Based group reads lowest at 4.00 TWD, and 20 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 8.96 TWD (bear) to 13.12 TWD (bull), the price of 17.75 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 64/100 (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.
MicroBase Technology Corp. reported revenue of 212M TWD in FY2025 versus 213M TWD in FY2021, a compound −0.1%/yr. Reported net income was 30.1M TWD in FY2025.
Key figures
Market cap 1.1B TWD (≈ $35.2M) · P/E ratio 37.0 · P/S ratio 5.26 · EPS (TTM) 0.4800 TWD · Dividend yield 1.2% · Net margin 14.2% · Return on equity 4.7% · Return on assets (EBIT) 2.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 49% below its 52-week high and 102% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −66% fair-value upside, at −39%, 3184 screens cheaper than that median.
Fair Value models
Bear 8.96 TWDFair Value 10.90 TWDBull 13.12 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 (0.1902 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−1.4%
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.
+5.1%
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.
−3.3%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 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 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. 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.
+21.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.9%
Dividend (yield on the price)1.2%
Profit margin 2020 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.−30% → 22%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +18.5% a year for the price.
Compare MicroBase Technology Corp. with another stock
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.Electronic Components · 654 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside−38% · Above median
Profitability
Return on equity (TTM)5% · Below median
Return on assets4% · Above median
Net margin (TTM)14% · Top 25%
Operating margin (TTM)12% · Above median
Growth and dividend
Revenue growth−6% · Below median
Dividend yield (TTM)1.2% · Below median
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (TTM)37.0× · Cheaper than median
P/B1.69× · Cheaper than median
P/S (TTM)5.24× · Priciest 25%
P/FCF1.5× · Cheaper than median
EV/EBITDA15.2× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 38
PAST (return on equity)19· sector 26
HEALTH (low debt)100· sector 95
DIVIDEND (yield)25· sector 25
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is MicroBase Technology Corp. (3184) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 10.90 TWD versus a price of 17.75 TWD, about −39% upside (overvalued).
What is the fair value of 3184?
Our model-based fair value for MicroBase Technology Corp. is 10.90 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 17.75 TWD.
What is the quality score of 3184?
MicroBase Technology Corp. has a Quality Score of 64/100. 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 MicroBase Technology Corp. (3184)?
Our model-based price target is the fair value of 10.90 TWD (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 8.96 TWD, optimistic scenario 13.12 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the MicroBase Technology Corp. stock forecast for 2026?
Our models put fair value at 10.90 TWD, about −39% upside versus a price of 17.75 TWD (overvalued). Cautious scenario 8.96 TWD, optimistic scenario 13.12 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of MicroBase Technology Corp. (3184)?
MicroBase Technology Corp. reported trailing-twelve-month revenue of about 212M TWD (latest available figure, as of Sep 24, 2026).
Does MicroBase Technology Corp. pay a dividend?
MicroBase Technology Corp. currently shows a dividend yield of about 1.25% relative to its recent price (as of Sep 24, 2026).
What growth is priced into MicroBase Technology Corp. (3184)?
For today's price to be fair in a discounted-cash-flow model, MicroBase Technology Corp. would have to grow free cash flow by +20.4 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -3.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 3184 use?
Our models discount MicroBase Technology Corp. at 9.0 %: a base by market capitalisation (nano), damped by beta 0.50, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For MicroBase Technology Corp. that is +20.4 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has MicroBase Technology Corp. (3184) delivered so far?
Over the past 5 years revenue at MicroBase Technology Corp. grew -3.3 % a year. The price currently implies +20.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of MicroBase Technology Corp. (3184) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into MicroBase Technology Corp. (+20.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of MicroBase Technology Corp. (3184)?
The free-cash-flow yield on the price is 2.02 %: that much free cash flow MicroBase Technology Corp. produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of MicroBase Technology Corp. (3184)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MicroBase Technology Corp. it is 10.90 TWD per share (as of Sep 24, 2026), against a price of 17.75 TWD. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is MicroBase Technology Corp. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3184 trades above its calculated fair value: price 17.75 TWD, fair value 10.90 TWD, a gap of about −39% (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 3184?
No. The price is what the market pays today (17.75 TWD); the fair value is what the company's own numbers justify (10.90 TWD). For MicroBase Technology Corp. the two are 6.85 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is MicroBase Technology Corp. worth?
The market values MicroBase Technology Corp. at about 1.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 17.75 TWD; our models calculate a fair value of 10.90 TWD per share.
What do the bullish and bearish scenarios say about 3184?
Our models span a range for MicroBase Technology Corp.: cautious scenario 8.96 TWD, base 10.90 TWD, optimistic 13.12 TWD per share (as of Sep 24, 2026, price 17.75 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3184?
MicroBase Technology Corp. trades at a price-to-earnings ratio of 37.0 (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 10.90 TWD is built from several models across several years. Other multiples: P/B 1.7, P/S 5.2, EV/EBITDA 15.2.
How solid is the balance sheet of MicroBase Technology Corp. (3184)?
Balance-sheet figures for MicroBase Technology Corp. (as of Sep 24, 2026): return on equity 4.7%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 3184 from its 52-week high?
MicroBase Technology Corp. trades at 17.75 TWD, about 49% below its 52-week high of 34.57 TWD and 102% above the low of 8.78 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 10.90 TWD is for.
Which stocks are comparable to MicroBase Technology Corp.?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Corning Incorporated, Hon Hai Precision Industry Co, 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 MicroBase Technology Corp. stock attractive at the current price?
The data as of Sep 24, 2026: price 17.75 TWD, calculated fair value 10.90 TWD (−39%), Quality Score 64/100, from 22 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 3184 calculated?
We run MicroBase Technology Corp. through 22 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 10.90 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 13.0 % above its aggregate fair value. MicroBase Technology 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 MicroBase Technology Corp. (3184)?
The closing price on Sep 24, 2026 was 17.75 TWD. Our model-based fair value is 10.90 TWD, about −39% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MicroBase Technology Corp. right now?
The price sits above even our optimistic bull case (13.12 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 (64/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of MicroBase Technology Corp.
How large is the market capitalisation of MicroBase Technology Corp. (3184)?
The market capitalisation of MicroBase Technology Corp. is 1.1B TWD (≈ $35.2M). 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 MicroBase Technology Corp. (3184)?
The price-to-sales ratio of MicroBase Technology Corp. is 5.26 (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 MicroBase Technology Corp. (3184)?
Earnings per share at MicroBase Technology Corp. are 0.4800 TWD (price ÷ EPS = P/E 37.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of MicroBase Technology Corp. (3184)?
The dividend yield of MicroBase Technology Corp. is 1.2% (payout 46.0%). 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 MicroBase Technology Corp. (3184)?
The net margin of MicroBase Technology Corp. is 14.2% (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 MicroBase Technology Corp. (3184)?
The return on equity (ROE) of MicroBase Technology Corp. is 4.7% (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 MicroBase Technology Corp. (3184)?
On an EBIT basis the return on assets of MicroBase Technology Corp. is 2.0% (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 MicroBase Technology Corp. (3184)?
The operating margin of MicroBase Technology Corp. is 11.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MicroBase Technology Corp. (3184)?
Revenue at MicroBase Technology Corp. is growing −5.5% versus a year earlier (3y avg +5.1%). 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 MicroBase Technology Corp. (3184)?
Earnings per share at MicroBase Technology Corp. are growing −63.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does MicroBase Technology Corp. (3184) hold?
MicroBase Technology Corp. holds more cash than debt, 175M TWD net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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