International Games System Co Ltd (3293) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of International Games System Co Ltd TWD 1,176, price TWD 729, upside +61.4%, quality 77 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 111.22 TWD – 1,030 TWD · fair‑value band 581.72 TWD – 2,020 TWD · the 729.00 TWD price screens below the 1,176 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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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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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.
Stock analysis
International Games System Co Ltd (3293) currently trades at 729.00 TWD, while our model-based Fair Value estimate is 1,176 TWD, implying the stock looks roughly 38.0% 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 729.00 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.
Scenario range: 581.72 TWD (bear) to 2,020 TWD (bull), the price of 729.00 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 77/100 (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 205B TWD (≈ $6.5B) · P/E ratio 19.2 · P/S ratio 9.48 · EPS (TTM) 37.88 TWD · Dividend yield 4.9% · Net margin 49.3% · Return on equity 99.2% · Return on assets (EBIT) 46.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 14% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 34% fair-value upside, at 61%, 3293 screens cheaper than that median.
Fair Value models
Bear 581.72 TWDFair Value 1,176 TWDBull 2,020 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 (1.35 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.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).
+4.2%
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.
+13.0%
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 +2.6% a year for the price and +11.2% 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 · 147 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 Sep 24, 2026, our model estimates a fair value of 1,176 TWD versus a price of 729.00 TWD, about +61% upside (undervalued).
What is the fair value of 3293?
Our model-based fair value for International Games System Co Ltd is 1,176 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 729.00 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 1,176 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 581.72 TWD, optimistic scenario 2,020 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 1,176 TWD, about +61% upside versus a price of 729.00 TWD (undervalued). Cautious scenario 581.72 TWD, optimistic scenario 2,020 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 24, 2026).
Does International Games System Co Ltd pay a dividend?
International Games System Co Ltd currently shows a dividend yield of about 4.94% relative to its recent price (as of Sep 24, 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 five years (discount rate 8.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +21.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 3293 use?
Our models discount International Games System Co Ltd at 8.6 %: a base by market capitalisation (large), damped by beta 0.25, 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 +4.2 % per year a year over ten years, using the same discount rate (8.6 %) 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 +4.2 % 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 International Games System Co Ltd (3293) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into International Games System Co Ltd (+4.2 % 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 International Games System Co Ltd (3293)?
The free-cash-flow yield on the price is 5.64 %: 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 (8.6 %), 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 1,176 TWD per share (as of Sep 24, 2026), against a price of 729.00 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 24, 2026, 3293 trades below its calculated fair value: price 729.00 TWD, fair value 1,176 TWD, a gap of about +61% (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 (729.00 TWD); the fair value is what the company's own numbers justify (1,176 TWD). For International Games System Co Ltd the two are 447.39 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 205B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 729.00 TWD; our models calculate a fair value of 1,176 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 581.72 TWD, base 1,176 TWD, optimistic 2,020 TWD per share (as of Sep 24, 2026, price 729.00 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 19.2 (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 1,176 TWD is built from several models across several years. Other multiples: P/B 10.8, P/S 9.0, EV/EBITDA 14.8.
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 24, 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 729.00 TWD, about 9% below its 52-week high of 804.00 TWD and 14% above the low of 638.68 TWD (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,176 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, Take-Two Interactive Software, Inc, Roblox 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 International Games System Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 729.00 TWD, calculated fair value 1,176 TWD (+61%), 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 1,176 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. International Games System Co Ltd currently trades 61 % 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 Sep 23, 2026 was 729.00 TWD. Our model-based fair value is 1,176 TWD, about +61% 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 (77/100) AND below fair value. That earns a closer look rather than a quick verdict. The model range is unusually wide (581.72 TWD to 2,020 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 205B TWD (≈ $6.5B). 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 9.48 (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 International Games System Co Ltd (3293)?
Earnings per share at International Games System Co Ltd are 37.88 TWD (price ÷ EPS = P/E 19.2). 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 95.0%). 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 International Games System Co Ltd (3293)?
The net margin of International Games System Co Ltd is 49.3% (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 International Games System Co Ltd (3293)?
The return on equity (ROE) of International Games System Co Ltd is 99.2% (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 58.3% (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 +16.9% 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 +19.4% versus a year earlier. How much earnings per share grew versus a year earlier.
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