International Games System Co Ltd (3293) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of International Games System Co Ltd stock TWD 1,094, price TWD 736, upside +48.6%, quality 78 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 111.22 TWD – 1,030 TWD · fair‑value band 565.66 TWD – 1,584 TWD · the 736.00 TWD price screens below the 1,094 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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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.
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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.
Stock analysis
International Games System Co Ltd (3293) currently trades at 736.00 TWD, while our model-based Fair Value estimate is 1,094 TWD, implying the stock looks roughly 33% undervalued today.
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Valuation
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 736.00 TWD price.
Bear case: the Multiples group reads lowest at 420.91 TWD, and 12 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 565.66 TWD (bear) to 1,584 TWD (bull), the price of 736.00 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 78/100 (high quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap 207B TWD (≈ $6.3B) Mid · P/E ratio 17.3 · P/S ratio 8.73 · EPS (TTM) 42.56 TWD · Dividend yield 4.9% · Net margin 51.4% · Return on equity 85.9% · Return on assets (EBIT) 46.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 92 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 15% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 86% fair-value upside, at 49%, 3293 screens richer than that median.
Fair Value models
Bear565.66 TWDFair Value 1,094 TWDBull1,584 TWD
Price 736.00 TWD · Upside +48.6%
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 (5.61 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.
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.100/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+19.0%
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.
+22.6%
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.
+21.2%
Start year 2020 (pandemic). Over 10 years: +27.7% a year
Revenue growth 10 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.
+27.7%
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What shareholders gained per year (last 5 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 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. 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.
+0.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.5%
Dividend (yield on the price)4.9%
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.51% → 59%
2025 sits 69% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
+5.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+12.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +3.9% a year for the price and +10.9% for the forecasts.
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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 Gaming & Multimedia · 165 stocks
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
Frequently asked questions
Is International Games System Co Ltd (3293) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 1,094 TWD versus a price of 736.00 TWD, about +49% upside (undervalued).
What is the fair value of 3293?
Our model-based fair value for International Games System Co Ltd is 1,094 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 736.00 TWD.
What is the quality score of 3293?
International Games System Co Ltd has a Quality Score of 78/100. 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 1,094 TWD (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 565.66 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 1,094 TWD, about +49% upside versus a price of 736.00 TWD (undervalued). Cautious scenario 565.66 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 23.8B TWD (latest available figure, as of Nov 8, 2026).
Does International Games System Co Ltd pay a dividend?
International Games System Co Ltd currently shows a dividend yield of 4.89% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of International Games System Co Ltd (3293) and when is the ex-dividend date?
International Games System Co Ltd pays a dividend of 36.00 TWD per share a year, a dividend yield of 4.9%. The last ex-dividend date was Jul 8, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 84.6% of earnings. Free cash flow covers the dividend 1.14 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
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 +5.6 % 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 +21.2 % per year. As of Nov 8, 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 0.27, 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 International Games System Co Ltd that is +5.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has International Games System Co Ltd (3293) delivered so far?
Over the past 5 years revenue at International Games System Co Ltd grew +21.2 % a year. The price currently implies free-cash-flow growth of +5.6 % per 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 International Games System Co Ltd (3293) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into International Games System Co Ltd (+5.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of International Games System Co Ltd (3293)?
The free-cash-flow yield on the price is 5.59 %: that much free cash flow International Games System Co Ltd 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 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 1,094 TWD per share (as of Nov 8, 2026), against a price of 736.00 TWD. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is International Games System Co Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 3293 trades below its calculated fair value: price 736.00 TWD, fair value 1,094 TWD, a gap of about +49% (undervalued). 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 (736.00 TWD); the fair value is what the company's own numbers justify (1,094 TWD). For International Games System Co Ltd the two are 357.92 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 207B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 736.00 TWD; our models calculate a fair value of 1,094 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 565.66 TWD, base 1,094 TWD, optimistic 1,584 TWD per share (as of Nov 8, 2026, price 736.00 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 17.3 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,094 TWD is built from several models across several years. Other multiples: P/B 10.9, P/S 8.7, EV/EBITDA 14.6.
How solid is the balance sheet of International Games System Co Ltd (3293)?
Balance-sheet figures for International Games System Co Ltd (as of Nov 8, 2026): return on equity 85.9%. They feed the Quality Score of 78/100, 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 736.00 TWD, about 10% below its 52-week high of 814.00 TWD and 15% above the low of 638.68 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1,094 TWD is for.
Which stocks are comparable to International Games System Co Ltd?
From the same area (Communication Services) we also value NetEase, Inc, Take-Two Interactive Software, Inc, Roblox Corporation, Zhejiang Century Huatong Group, 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 Nov 8, 2026: price 736.00 TWD, calculated fair value 1,094 TWD (+49%), Quality Score 78/100, 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 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 1,094 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 13.0% above its aggregate fair value. International Games System Co Ltd currently trades 33% below its own fair value, and the market average says nothing about that. 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 International Games System Co Ltd (3293)?
The closing price on Nov 6, 2026 was 736.00 TWD. Our model-based fair value is 1,094 TWD, about +49% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with International Games System Co Ltd right now?
The rarer combination: high quality (78/100) AND below fair value. That earns a closer look rather than a quick verdict. The model range is unusually wide (565.66 TWD to 1,584 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Key figures of International Games System Co Ltd
How large is the market capitalisation of International Games System Co Ltd (3293)?
The market capitalisation of International Games System Co Ltd is 207B TWD (≈ $6.3B). 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 International Games System Co Ltd (3293)?
The price-to-sales ratio of International Games System Co Ltd is 8.73 (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 International Games System Co Ltd (3293)?
Earnings per share at International Games System Co Ltd are 42.56 TWD (price ÷ EPS = P/E 17.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of International Games System Co Ltd (3293)?
The dividend yield of International Games System Co Ltd is 4.9% (payout 84.6%). 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 International Games System Co Ltd (3293)?
The net margin of International Games System Co Ltd is 51.4% (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 International Games System Co Ltd (3293)?
The return on equity (ROE) of International Games System Co Ltd is 85.9% (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 International Games System Co Ltd (3293)?
On an EBIT basis the return on assets of International Games System Co Ltd is 46.7% (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 International Games System Co Ltd (3293)?
The operating margin of International Games System Co Ltd is 59.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at International Games System Co Ltd (3293)?
Revenue at International Games System Co Ltd is growing +14.6% versus a year earlier (3y avg +22.6%). 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 International Games System Co Ltd (3293)?
Earnings per share at International Games System Co Ltd are growing +33.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 8, 2026