International Games System Co Ltd (3293) fair value: what the stock is really worth
We calculate from audited financials what International Games System Co Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
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Communication Services · TW · Market cap 198B TWD (≈ $6.3B) · ISIN TW0003293007
At a glance
IGInternational Games System Co Ltd3293 · TWO
Price708.00 TWD
Fair Value568.16 TWD
Upside−19.8%
Quality77/100
A strong business, but trading 25% above our fair value of 568.16 TWD.
As of Sep 7, 2026, the fair value of International Games System Co Ltd is 568.16 TWD per share against a price of 708.00 TWD, so the fair value sits 20% below the price. A model estimate from reported figures, not an analyst target.
!Mixed Growth (revenue 5y +21.2 %/yr)
✓Highly profitable · 49.6% net margin
✓generates free cash flow
·5.08% dividend yield
✓Ranks above peers (8/13)
✓Wide moat 92/100
!The models disagree: range 427.11 TWD to 1,584 TWD
!Weak on valuation: 7 out of 100
Evidence: HighRange 427.11 TWD to 1,584 TWD
Fair value as of: Sep 7, 2026
From 26 valuation models · updated 2 days ago
Share price −10.6% over the past month.
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What matters now
A high-quality business (quality 77/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
The model range is unusually wide (427.11 TWD to 1,584 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 7, 2026.
How to read this chart
60‑month range 111.22 TWD – 1,030 TWD · fair‑value band 427.11 TWD – 1,584 TWD · the 708.00 TWD price screens above the 568.16 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 7, 2026.
International Games System Co Ltd (3293) currently trades at 708.00 TWD, while our model-based Fair Value estimate is 568.16 TWD, implying the stock looks roughly 24.6% overvalued today. The Quality Score stands at 77/100 (high quality), in the Communication Services sector. Bull case: the Growth Earnings group reads highest at a median of 1,219 TWD per share, and 14 of the 26 models we run sit above the 708.00 TWD price. Bear case: the Multiples group reads lowest at 273.65 TWD, and 12 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, International Games System Co Ltd generated revenue of 22.9B TWD at a net margin of 49.6%. Revenue grew 16.9% year over year. It earns a return on equity of 99.2%. The stock trades on a trailing P/E of 18.7. Fundamentals as of Sep 7, 2026
Scenario range: 427.11 TWD (bear) to 1,584 TWD (bull), the price of 708.00 TWD sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 20% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at −46% fair-value upside, at −20%, 3293 screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (1.27 TWD per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
Highest evidence
FCF DCF best evidence696.07 TWD1,093 TWD2,357 TWD73
Growth DCF654.94 TWD1,215 TWD2,347 TWD71
EPV401.34 TWD467.57 TWD525.53 TWD70
All 26 models by family
DCF Models
FCF DCF best evidence696.07 TWD1,093 TWD2,357 TWD73
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Key figures & financial health
P/E ratio18.7
P/S ratio9.21P/E × margin
EPS (TTM)37.88 TWDprice ÷ EPS = P/E 18.7
Dividend yield5.1%payout 95.0%
Net margin49.3%FY2025
Return on equity99.2%TTM
More key figures
Profitability
Return on assets (EBIT)46.7%avg 5y
Operating margin58.3%TTM
Growth
Revenue (TTM)22.9B TWDTTM
Revenue growth (YoY)+16.9%3y avg +22.6%
EPS growth (YoY)+19.4%
Balance sheet & cash flow
Free cash flow11.6B TWDFY2025
Figures from reported company fundamentals · as of Sep 7, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality77/100
Of which business quality 77
· Market factors (momentum, volatility) 54
Profitability92
Margins and returns on capital today
Quality Growth62
Are margins and returns improving?
Cashflow85
Earnings quality: real cash, not paper profit
Fin. Strength83
Balance sheet, leverage, solvency risk
Investment33
Disciplined investing over empire-building
Low Volatility84
Calm price path (market factor)
Momentum45
Price trend over the last 3–12 months (market factor)
52W Momentum35
Distance to the 52-week high (market factor)
Net Issuance82
Buybacks instead of dilution
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
International Games System Co.,Ltd. plans, designs, researches, develops, manufactures, markets, services, and licenses arcade, online, and mobile games in Taiwan, the United Kingdom, Curacao, and Malta.
Full company description
International Games System Co.,Ltd. plans, designs, researches, develops, manufactures, markets, services, and licenses arcade, online, and mobile games in Taiwan, the United Kingdom, Curacao, and Malta. The company offers arcade games, such as MONSTER EYE 3,ASPHALT MOTO BLITZ DX, SAILOR'S QUEST VR, HYPERCROSS, Rolling Hero, ASPHALT9:LEGENDS ARCADE DX, Train's Party, Shooting Mania2, Ocean Tale, Bounce Fireball, Pacfish, Kickmania, Dolphin Star, Fancy Racing, Royal Archer, Sweet Kart, DINO ROCK, Fluffy Rider - Racing Park, Fruits Carnival, Fluffy Rider - Water Park, Hero of Robots, Captain Sub, DanzBase, CAPYHAMA, FOTOZONE - Back to Jurassic, Power Truck Special, Go Go Pony, Monster Eye, OVERTAKE DX, Power Truck, MOMI DANZ, ULTRAMOTO VR, Speed Rider 3DX, OVERTAKE VR, Monster Eye2, OVERTAKE, Speed Rider 3, and Costume Party games. It also provides mobile games, including Golden HoYeah Slots, Pool Ace, WE5 Dance, and star31 games. In addition, the company is involved in the planning for arcade games software and hardware; development and production of computer software; sale of self-produced products; and provision of computer system integration, advisory service, technical training, and technical services. International Games System Co.,Ltd. was incorporated in 1989 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
International Games System Co Ltd reported revenue of 22.0B TWD in FY2025 versus 11.3B TWD in FY2021, a compound +18.2%/yr. Reported net income was 10.9B TWD in FY2025, compounding +23.0%/yr from FY2021.
Growth Quality 100/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
22.0B TWD
Latest YoY
+19.0%
Avg. revenue growth/yr (3Y) ⓘ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.
+22.6%
Avg. revenue growth/yr (5Y) ⓘ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.
+21.2%
Avg. revenue growth/yr (10Y) ⓘ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.
+27.7%
Value creation/yr (5Y, in TWD) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
≈ +0.6%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−4.5%
Dividend yield5.1%
Operating margin (EBIT) ⓘ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.51.0% (2020) → 59.3% (2025) · rising
Worst earnings drop71% (2022) · in TWD
⚠ Final year 2025 sits 69% above trend (one-off), rate approximate
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.
Cite: Fair Value Calculator (2026). "International Games System Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3293
Peer Group
Electronic Gaming & Multimedia · 150 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
Quality Score77 · Top 25%
Fair Value upside−20% · Below median
Profitability
Return on equity (TTM)99% · Top 25%
Return on assets31% · Top 25%
Net margin (TTM)50% · Top 25%
Operating margin (TTM)58% · Top 25%
Growth and dividend
Revenue growth17% · Above median
Dividend yield (TTM)5.1% · Above median
Valuation Multiples vs Electronic Gaming & Multimedia median · lower = cheaper
P/E (TTM)18.7× · Pricier than median
P/B10.41× · Priciest 25%
P/S (TTM)8.65× · Priciest 25%
P/FCF0.5× · Cheaper than median
EV/EBITDA14.3× · Pricier than median
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must International Games System Co Ltd deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years+4.2 % per year
Achieved revenue growth, 5 years+21.2 % p.a.
Sector median revenue growth+1.9 %
FCF yield on price5.81 %
Discount rate (WACC) in the models9.0 %
The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →
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.
This stockSector peers
VALUE7· sector 24
FUTURE85· sector 6
PAST100· sector 15
HEALTH0· sector 100
DIVIDEND100· sector 57
Insider activity: 45/100
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 Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Sep 7, 2026).
Is International Games System Co Ltd (3293) overvalued or undervalued?
As of Sep 7, 2026, our model estimates a fair value of 568.16 TWD versus a price of 708.00 TWD, about −20% upside (overvalued).
What is the fair value of 3293?
Our model-based fair value for International Games System Co Ltd is 568.16 TWD (as of Sep 7, 2026), built from audited fundamentals. The current price: 708.00 TWD.
What is the quality score of 3293?
International Games System Co Ltd has a Quality Score of 77/100. 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 International Games System Co Ltd (3293)?
Our model-based price target is the fair value of 568.16 TWD (as of Sep 7, 2026) from 26 valuation models. Cautious scenario 427.11 TWD, optimistic scenario 1,584 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the International Games System Co Ltd stock forecast for 2026?
Our models put fair value at 568.16 TWD, about −20% upside versus a price of 708.00 TWD (overvalued). Cautious scenario 427.11 TWD, optimistic scenario 1,584 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of International Games System Co Ltd (3293)?
International Games System Co Ltd reported trailing-twelve-month revenue of about 22.9B TWD (latest available figure, as of Sep 7, 2026).
What is the net profit margin of 3293?
The net profit margin of International Games System Co Ltd is about 49.6%, meaning it keeps roughly 49.6% of revenue as net income. Based on the latest reported figures.
Does International Games System Co Ltd pay a dividend?
International Games System Co Ltd currently shows a dividend yield of about 5.08% relative to its recent price (as of Sep 7, 2026).
What growth is priced into International Games System Co Ltd (3293)?
For today's price to be fair in a discounted-cash-flow model, International Games System Co Ltd would have to grow free cash flow by +4.2 % per year for ten years (discount rate 9.0 %, then 2 % perpetual growth). Over the last 5 years revenue grew +21.2 % per year. As of Sep 7, 2026.
What discount rate (WACC) does the fair value of 3293 use?
Our models discount International Games System Co Ltd at 9.0 %: a base by market capitalisation (mid), damped by beta 0.25, country premium for Taiwan. The same rate applies in all 26 models.
What is the intrinsic value of International Games System Co Ltd (3293)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For International Games System Co Ltd it is 568.16 TWD per share (as of Sep 7, 2026), against a price of 708.00 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is International Games System Co Ltd stock overvalued or undervalued in 2026?
As of Sep 7, 2026, 3293 trades above its calculated fair value: price 708.00 TWD, fair value 568.16 TWD, a gap of about −20% (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 3293?
No. The price is what the market pays today (708.00 TWD); the fair value is what the company's own numbers justify (568.16 TWD). For International Games System Co Ltd the two are 139.84 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is International Games System Co Ltd worth?
The market values International Games System Co Ltd at about 198B TWD (market capitalisation, as of Sep 7, 2026). Per share that is 708.00 TWD; our models calculate a fair value of 568.16 TWD per share.
What do the bullish and bearish scenarios say about 3293?
Our models span a range for International Games System Co Ltd: cautious scenario 427.11 TWD, base 568.16 TWD, optimistic 1,584 TWD per share (as of Sep 7, 2026, price 708.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3293?
International Games System Co Ltd trades at a price-to-earnings ratio of 18.7 (as of Sep 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 568.16 TWD is built from several models across several years. Other multiples: P/B 10.4, P/S 8.6, EV/EBITDA 14.3.
How solid is the balance sheet of International Games System Co Ltd (3293)?
Balance-sheet figures for International Games System Co Ltd (as of Sep 7, 2026): return on equity 99.2%. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is 3293 from its 52-week high?
International Games System Co Ltd trades at 708.00 TWD, about 20% below its 52-week high of 879.63 TWD and 6% above the low of 670.00 TWD (as of Sep 7, 2026). Distance from the high says nothing about value: that is what the fair value of 568.16 TWD is for.
Which stocks are comparable to International Games System Co Ltd?
From the same area (Communication Services) we also value Konami Group, NetEase, Inc, Electronic Arts Inc, Take-Two Interactive Software, 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 International Games System Co Ltd stock attractive at the current price?
The data as of Sep 7, 2026: price 708.00 TWD, calculated fair value 568.16 TWD (−20%), Quality Score 77/100, from 26 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 3293 calculated?
We run International Games System Co Ltd through 26 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 568.16 TWD, with the spread shown as a cautious and an optimistic scenario.
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