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Visgeneer (4197) Fair Value & Analysis

Healthcare · TW · Market cap 275M TWD (≈ $8.7M) · ISIN TW0004197009

What is Visgeneer really worth?

V Visgeneer 4197 · TWO
Price8.63 TWD
Fair Value2.89 TWD
Upside−66.5%
Quality61/100

A solid business, but trading 199% above our fair value of 2.89 TWD.

As of Sep 6, 2026, the fair value of Visgeneer is 2.89 TWD per share against a price of 8.63 TWD, so the fair value sits 67% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow
Ranks above peers (10/14)

Risks

!Weak Growth (revenue 5y +0.3 %/yr)
!Thin margins · 2.9% net margin
!Narrow moat 25/100
!Evidence only low, so the estimate is less certain
!Weak on past: 11 out of 100
Evidence: Low Range 2.02 TWD – 3.33 TWD

Fair value as of: Sep 6, 2026

From 21 valuation models · updated today

Share price +1.4% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (3.33 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 (61/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

19.00 TWD 8.15 TWD Fair Value 2.89 TWD Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 6, 2026.

How to read this chart

60‑month range 8.15 TWD – 19.00 TWD · fair‑value band 2.02 TWD – 3.33 TWD · the 8.63 TWD price screens above the 2.89 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 6, 2026.

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Analysis

Visgeneer (4197) currently trades at 8.63 TWD, while our model-based Fair Value estimate is 2.89 TWD, implying the stock looks roughly 198.6% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Healthcare sector. Bull case: the Asset-Based group reads highest at a median of 4.42 TWD per share, and 0 of the 21 models we run sit above the 8.63 TWD price. Bear case: the Earnings-Based group reads lowest at 1.44 TWD, and 21 of the 21 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Visgeneer generated revenue of 179M TWD at a net margin of 2.9%. Revenue grew 27.7% year over year. It earns a return on equity of 2.7%. Net debt stands at 35.4M TWD. Fundamentals as of Sep 6, 2026

Our scenario range runs from 2.02 TWD (bear case) to 3.33 TWD (bull case); at 8.63 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 62% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −56% fair-value upside, at −67%, 4197 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.1160 TWD per share, which is 4.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model 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
Highest evidence
FCF DCF best evidence 1.05 TWD 1.55 TWD 2.34 TWD 80
Growth DCF 1.10 TWD 1.56 TWD 2.26 TWD 78
Owner Earnings 2.12 TWD 2.90 TWD 4.14 TWD 77
All 21 models by family
DCF Models
FCF DCF best evidence 1.05 TWD 1.55 TWD 2.34 TWD 80
Owner Earnings 2.12 TWD 2.90 TWD 4.14 TWD 77
5Y Revenue Exit 1.21 TWD 2.11 TWD 3.43 TWD 71
5Y EBITDA Exit 1.17 TWD 2.05 TWD 3.22 TWD 73
5Y P/E Exit 1.34 TWD 2.34 TWD 3.53 TWD 69
10Y Revenue Exit 1.08 TWD 1.66 TWD 2.29 TWD 67
10Y EBITDA Exit 1.10 TWD 1.63 TWD 2.18 TWD 69
10Y P/E Exit 1.19 TWD 1.78 TWD 2.34 TWD 64
Earnings-Based
Graham-Dodd 1.18 TWD 1.44 TWD 1.63 TWD 67
Dividend Discount
Gordon GGM 1.65 TWD 1.76 TWD 1.93 TWD 69
DDM Multi-Stage 1.65 TWD 1.91 TWD 2.23 TWD 67
Multiples
P/E Multiple 2.87 TWD 3.82 TWD 4.78 TWD 63
P/S Multiple 2.22 TWD 2.96 TWD 3.69 TWD 58
P/B Multiple 2.22 TWD 2.96 TWD 3.69 TWD 55
EV/EBITDA 1.64 TWD 2.47 TWD 3.31 TWD 66
EV/Revenue 1.55 TWD 2.58 TWD 3.61 TWD 52
Asset-Based
NCAV (Graham) 3.30 TWD 4.42 TWD 6.60 TWD 54
Growth DCF
Growth DCF 1.10 TWD 1.56 TWD 2.26 TWD 78
Rev-Margin DCF 1.21 TWD 2.17 TWD 3.34 TWD 71
Economic Profit
Residual Income 4.30 TWD 4.09 TWD 3.00 TWD 76
Growth Earnings
Growth-Adj P/E 2.02 TWD 2.89 TWD 3.76 TWD 67

Widest divergence: Asset-Based (4.42 TWD) versus Earnings-Based (1.44 TWD). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 50.8
P/S ratio 1.49 P/E × margin
EPS (TTM) 0.1700 TWD price ÷ EPS = P/E 50.8
Dividend yield 2.6% payout 133%
Net margin 2.9% FY2025
Return on equity 2.7% TTM
More key figures
Profitability
Return on assets (EBIT) −0.6% avg 5y
Operating margin 0.2% TTM
Growth
Revenue (TTM) 179M TWD TTM
Revenue growth (YoY) +27.7% 3y avg +4.3%
EPS growth (YoY) +59.8%
Balance sheet & cash flow
Free cash flow 8.0M TWD FY2025
Net debt 35.4M TWD FY2025 · ≈ 4.4 yrs of FCF

Figures from reported company fundamentals · as of Sep 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 30

Profitability 28
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 82
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

Visgeneer Inc. provides health solutions in the fields of medical device, cosmetics and skin care, Zeaxanthin, and cancer gene diagnostics in Europe and Asia. The company offers blood glucose and ketone, uric acid, and cholesterol monitoring systems.

Full company description

Visgeneer Inc. provides health solutions in the fields of medical device, cosmetics and skin care, Zeaxanthin, and cancer gene diagnostics in Europe and Asia. The company offers blood glucose and ketone, uric acid, and cholesterol monitoring systems. It also provides functional masks, such as wood pulp mask, invisible mask, black mask, pure cloth mask, and bio cellulose mask; face cream, night cream, day cream, wrinkle cream, repairing cream, whitening cream, exfoliating cream, toner, and lotions; functional essences; body lotion and spa clay mask; physical blocker, chemical blocker, and comprehensive sun protection; face wash, wash cream, cleaning cleansing mousse, cleaning cleansing gel, shampoo, and body wash; hand cream, knee cream, foot mask, hand mask, and glucosamine cream; anti-acne cream, female private cleaning lotion, skin care, skin capsules, and hair capsules; and customized skin care products. In addition, the company offers eBmonitor Blood Monitoring System, CoreSence Skincare, BOWIL Skincare, angera, and ZeaSight EU Patent Zeaxanthin. Visgeneer Inc. was founded in 2005 and is based in Hsinchu City, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Visgeneer reported revenue of 179M TWD in FY2025 versus 165M TWD in FY2021, a compound +2.0%/yr. Reported net income was 5.2M TWD in FY2025, compounding +59.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
179M TWD
Latest YoY
+54.7%
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.
+4.3%
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.
+0.3%
Avg. revenue growth/yr (14Y) 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.
+0.9%
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.
+51.7% · in TWD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+49.1%
Dividend yield2.6%
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.0.1% (2020) → −3.0% (2025) · falling
Worst earnings drop259% (2023) (loss year, drop beyond 100%) · in TWD
Revenue +2.0%/yr
FY21 165M TWD
FY22 158M TWD
FY23 148M TWD
FY24 116M TWD
FY25 179M TWD
Net income +59.0%/yr
FY21 820K TWD
FY22 12.3M TWD
FY23 −19.6M TWD
FY24 −17.7M TWD
FY25 5.2M TWD

4197 screens 199% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "Visgeneer Fair Value". https://www.fairvalue-calculator.com/stock/4197.TWO

Peer Group

Biotechnology · 627 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.

Quality Score 61 · Top 25%
Fair Value upside −67% · Below median
Return on equity (TTM) 3% · Above median
Return on assets 1% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 0% · Above median
Revenue growth 28% · Top 25%
Dividend yield (TTM) 2.6% · Above median
Debt / equity 0.48× · Higher than 75% of peers

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 50.8× · Pricier than 75% of peers
P/B 1.38× · Cheaper than median
P/S (TTM) 1.53× · Cheaper than median
P/FCF 1.1× · Cheaper than median
EV/EBITDA 15.6× · Pricier than median

Strength profile in five axes (Snowflake)

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 0
PAST11 · sector 0
HEALTH76 · sector 98
DIVIDEND53 · sector 26

VALUE 0: the price sits above our fair-value range.

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 Biotechnology stocks, each showing price versus our Fair Value estimate (as of Sep 6, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $547.55 $278.78 −49%
Regeneron Pharmaceuticals, Inc REGN $807.71 $594.40 −26%
argenx SE ARGX €877.60 €292.84 −67%
BeOne Medicines AG 688235 ¥271.00 ¥47.36 −83%
Samsung Biologics Co 207940 1,518,000 KRW 1,055,793 KRW −30%
Alnylam Pharmaceuticals, Inc ALNY $228.61 $51.70 −77%
Royalty Pharma plc RPRX $60.58 $24.22 −60%
Celltrion, Inc 068270 190,700 KRW 74,519 KRW −61%
BioNTech SE BNTX $103.76 $45.70 −56%
Incyte Corporation INCY $123.22 $115.79 −6%

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Frequently asked questions

Is Visgeneer (4197) overvalued or undervalued?
As of Sep 6, 2026, our model estimates a fair value of 2.89 TWD versus a price of 8.63 TWD, about −67% upside (overvalued).
What is the fair value of 4197?
Our model-based fair value for Visgeneer is 2.89 TWD (as of Sep 6, 2026), built from audited fundamentals. The current price: 8.63 TWD.
What is the quality score of 4197?
Visgeneer has a Quality Score of 61/100. 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 Visgeneer (4197)?
Our model-based price target is the fair value of 2.89 TWD (as of Sep 6, 2026) from 21 valuation models. Cautious scenario 2.02 TWD, optimistic scenario 3.33 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Visgeneer stock forecast for 2026?
Our models put fair value at 2.89 TWD, about −67% upside versus a price of 8.63 TWD (overvalued). Cautious scenario 2.02 TWD, optimistic scenario 3.33 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Visgeneer (4197)?
Visgeneer reported trailing-twelve-month revenue of about 179M TWD (latest available figure, as of Sep 6, 2026).
What is the net profit margin of 4197?
The net profit margin of Visgeneer is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.
Does Visgeneer pay a dividend?
Visgeneer currently shows a dividend yield of about 2.63% relative to its recent price (as of Sep 6, 2026).
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