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BaaS Innovation Co., Ltd. (3555) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of BaaS Innovation Co., Ltd. TWD 325, price TWD 166, upside +95.9%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Technology · TW

BI Some data Sep 28, 2026

BaaS Innovation Co., Ltd.

3555 · TWO

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 325.19 TWD · Strongly undervalued (+95.9%)
!Quality 41/100
!Expensive Growth (revenue 5y +13.2 %/yr)
✓Highly profitable · 49.3% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (7/9)
✓Wide moat 73/100
!Insider activity 40/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

276.00 TWD 20.20 TWD Fair Value 325.19 TWD Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.

How to read this chart

60‑month range 20.20 TWD – 276.00 TWD · fair‑value band 319.17 TWD – 421.86 TWD · the 166.00 TWD price screens below the 325.19 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.

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Company profile

BaaS Innovation Co., Ltd. provides blockchain solutions and applications.

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BaaS Innovation Co., Ltd. provides blockchain solutions and applications. The company offers Soteria Space, a data management and access control system based on blockchain with multi-layer encryption and multiple factor authorization; Digital certificate platform, a digital graduation certificate based on blockchain and DID; Safe Exchange; and biotechnology products. It also provides BaaSid Dynamic Consent, a dynamic consent solution for privacy protection using blockchain tech; BaaSid Pistis DID, an authorization application of decentralized digital identity; BaaSid soteria, a new fragmented, decentralized secure storage prevents data leakage, tampering, unauthorized copying, and use; supply chain finance on blockchain; BaaSid GameFi Adapter, an adapter to connect NFT/GameFi to developers; and cryptocurrency management- signature solution. The company was formerly known as iROC Co., Ltd. The company was founded in 2003 and is based in Taipei City, Taiwan.

Stock analysis

BaaS Innovation Co., Ltd. (3555) currently trades at 166.00 TWD, while our model-based Fair Value estimate is 325.19 TWD, implying the stock looks roughly 49.0% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 55.92 TWD per share, and 0 of the 10 models we run sit above the 166.00 TWD price.

Bear case: the Earnings-Based group reads lowest at 38.73 TWD, and 10 of the 10 models stay below the price. Evidence for this calculation is medium.

Scenario range: 319.17 TWD (bear) to 421.86 TWD (bull), the price of 166.00 TWD sits below 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 41/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

BaaS Innovation Co., Ltd. reported revenue of 282M TWD in FY2025 versus 18.7M TWD in FY2021, a compound +97.0%/yr. Reported net income was 44.3M TWD in FY2025, compounding +16.5%/yr from FY2021.

Key figures

Market cap 6.6B TWD (≈ $209M) · P/E ratio 129.7 · P/S ratio 20.3 · EPS (TTM) 1.28 TWD · Net margin 15.7% · Return on equity 62.2% · Return on assets (EBIT) −13.6% · Operating margin 40.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 40% below its 52-week high and 232% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −22% fair-value upside, at 96%, 3555 screens cheaper than that median.

Fair Value models

Bear 319.17 TWD Fair Value 325.19 TWD Bull 421.86 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 (0.9504 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. 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.
Highest evidence
Owner Earnings 12.76 TWD 21.93 TWD 37.93 TWD 72
Residual Income 10.34 TWD 10.63 TWD 11.57 TWD 68
Growth-Adj P/E 39.15 TWD 55.92 TWD 72.70 TWD 65
All 10 models by family
DCF Models
Owner Earnings 12.76 TWD 21.93 TWD 37.93 TWD 72
Earnings-Based
Graham-Dodd 7.52 TWD 52.47 TWD 73.64 TWD 61
Lynch FV 27.11 TWD 38.73 TWD 50.35 TWD 59
PEG = 1.0 27.11 TWD 38.73 TWD 50.35 TWD 55
Multiples
P/E Multiple 23.24 TWD 30.98 TWD 38.73 TWD 63
P/S Multiple 14.11 TWD 18.81 TWD 23.51 TWD 58
P/B Multiple 14.11 TWD 18.81 TWD 23.51 TWD 55
Asset-Based
NCAV (Graham) 6.91 TWD 9.26 TWD 13.82 TWD 54
Economic Profit
Residual Income 10.34 TWD 10.63 TWD 11.57 TWD 68
Growth Earnings
Growth-Adj P/E 39.15 TWD 55.92 TWD 72.70 TWD 65

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Quality Score breakdown

Overall quality 41/100

Of which business quality 41 · Market factors (momentum, volatility) 50

Profitability 38
Margins and returns on capital today
Quality Growth 80
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 29
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+334.6%
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.
+130.0%
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.
+13.2%
Start year 2020 (pandemic)
Revenue growth 6 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.
+9.5%
What shareholders gained per year (last 5 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 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. 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.
+3.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.5%
Dividend (yield on the price)0.0%
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.−37% → −8%

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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.Software - Infrastructure · 376 stocks

Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 41 · Below median
Fair Value upside +95.9% · Top 25%
Profitability
Return on equity (TTM) 62.2% · Top 25%
Return on assets 10.5% · Top 25%
Net margin (TTM) 49.3% · Top 25%
Operating margin (TTM) 40.1% · Top 25%
Growth and dividend
Revenue growth 478.0% · Top 25%
Balance sheet
Debt / equity 0.01× · Below median

Valuation Multiplesvs Software - Infrastructure median · lower = cheaper

P/E (TTM) 129.7× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 21
FUTURE (revenue growth)100 · sector 52
PAST (return on equity)100 · sector 20
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 34

Context: sector, industry, market

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

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Synopsys, Inc SNPS $425.76 $249.20 −41%
CoreWeave, Inc CRWV $87.59 $58.32 −33%
Block, Inc XYZ $76.42 $76.95 +1%
NetApp, Inc NTAP $201.15 $157.26 −22%
Okta, Inc OKTA $195.19 $142.12 −27%

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BaaS Innovation Co., Ltd. · Fair Value
325.19 TWD +49%Fair Value
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Cite: Fair Value Calculator (2026). "BaaS Innovation Co., Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/3555

Frequently asked questions

Is BaaS Innovation Co., Ltd. (3555) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of 325.19 TWD versus a price of 166.00 TWD, about +96% upside (undervalued).
What is the fair value of 3555?
Our model-based fair value for BaaS Innovation Co., Ltd. is 325.19 TWD (as of Sep 28, 2026), built from audited fundamentals. The current price: 166.00 TWD.
What is the quality score of 3555?
BaaS Innovation Co., Ltd. has a Quality Score of 41/100. 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 BaaS Innovation Co., Ltd. (3555)?
Our model-based price target is the fair value of 325.19 TWD (as of Sep 28, 2026) from 10 valuation models. Cautious scenario 319.17 TWD, optimistic scenario 421.86 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the BaaS Innovation Co., Ltd. stock forecast for 2026?
Our models put fair value at 325.19 TWD, about +96% upside versus a price of 166.00 TWD (undervalued). Cautious scenario 319.17 TWD, optimistic scenario 421.86 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of BaaS Innovation Co., Ltd. (3555)?
BaaS Innovation Co., Ltd. reported trailing-twelve-month revenue of about 697M TWD (latest available figure, as of Sep 28, 2026).
What is the intrinsic value of BaaS Innovation Co., Ltd. (3555)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BaaS Innovation Co., Ltd. it is 325.19 TWD per share (as of Sep 28, 2026), against a price of 166.00 TWD. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is BaaS Innovation Co., Ltd. stock overvalued or undervalued in 2026?
As of Sep 28, 2026, 3555 trades below its calculated fair value: price 166.00 TWD, fair value 325.19 TWD, a gap of about +96% (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 3555?
No. The price is what the market pays today (166.00 TWD); the fair value is what the company's own numbers justify (325.19 TWD). For BaaS Innovation Co., Ltd. the two are 159.19 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is BaaS Innovation Co., Ltd. worth?
The market values BaaS Innovation Co., Ltd. at about 6.6B TWD (market capitalisation, as of Sep 28, 2026). Per share that is 166.00 TWD; our models calculate a fair value of 325.19 TWD per share.
What do the bullish and bearish scenarios say about 3555?
Our models span a range for BaaS Innovation Co., Ltd.: cautious scenario 319.17 TWD, base 325.19 TWD, optimistic 421.86 TWD per share (as of Sep 28, 2026, price 166.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3555?
BaaS Innovation Co., Ltd. trades at a price-to-earnings ratio of 129.7 (as of Sep 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 325.19 TWD is built from several models across several years.
How solid is the balance sheet of BaaS Innovation Co., Ltd. (3555)?
Balance-sheet figures for BaaS Innovation Co., Ltd. (as of Sep 28, 2026): return on equity 62.2%, debt of 0.01 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 3555 from its 52-week high?
BaaS Innovation Co., Ltd. trades at 166.00 TWD, about 40% below its 52-week high of 276.00 TWD and 232% above the low of 50.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 325.19 TWD is for.
Which stocks are comparable to BaaS Innovation Co., Ltd.?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, CrowdStrike Holdings, 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 BaaS Innovation Co., Ltd. stock attractive at the current price?
The data as of Sep 28, 2026: price 166.00 TWD, calculated fair value 325.19 TWD (+96%), Quality Score 41/100, from 10 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 3555 calculated?
We run BaaS Innovation Co., Ltd. through 10 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 325.19 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 16.1 % above its aggregate fair value. BaaS Innovation Co., Ltd. currently trades 96 % 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 BaaS Innovation Co., Ltd. (3555)?
The closing price on Sep 24, 2026 was 166.00 TWD. Our model-based fair value is 325.19 TWD, about +96% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BaaS Innovation Co., Ltd. right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (319.17 TWD). The market is more pessimistic than our downside scenario.

Key figures of BaaS Innovation Co., Ltd.

How large is the market capitalisation of BaaS Innovation Co., Ltd. (3555)?
The market capitalisation of BaaS Innovation Co., Ltd. is 6.6B TWD (≈ $209M). 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 BaaS Innovation Co., Ltd. (3555)?
The price-to-sales ratio of BaaS Innovation Co., Ltd. is 20.3 (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 BaaS Innovation Co., Ltd. (3555)?
Earnings per share at BaaS Innovation Co., Ltd. are 1.28 TWD (price ÷ EPS = P/E 129.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of BaaS Innovation Co., Ltd. (3555)?
The net margin of BaaS Innovation Co., Ltd. is 15.7% (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 BaaS Innovation Co., Ltd. (3555)?
The return on equity (ROE) of BaaS Innovation Co., Ltd. is 62.2% (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 BaaS Innovation Co., Ltd. (3555)?
On an EBIT basis the return on assets of BaaS Innovation Co., Ltd. is −13.6% (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 BaaS Innovation Co., Ltd. (3555)?
The operating margin of BaaS Innovation Co., Ltd. is 40.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BaaS Innovation Co., Ltd. (3555)?
Revenue at BaaS Innovation Co., Ltd. is growing +478% versus a year earlier (3y avg +130%). 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 BaaS Innovation Co., Ltd. (3555)?
Earnings per share at BaaS Innovation Co., Ltd. are growing +371% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does BaaS Innovation Co., Ltd. (3555) generate?
The free cash flow of BaaS Innovation Co., Ltd. is −117M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does BaaS Innovation Co., Ltd. (3555) carry?
The net debt of BaaS Innovation Co., Ltd. is 8.8M TWD (fiscal year 2024). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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