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Mycenax Biotech (4726) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Mycenax Biotech TWD 4.61, price TWD 22.35, upside -79.4%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · TW · ISIN TW0004726005

MB Thin data Sep 24, 2026

Mycenax Biotech

4726 · TWO

Weakest SetupStrongly overvalued and low quality.

!Fair value 4.61 TWD · Strongly overvalued (−79%)
!Quality 38/100
!Expensive Growth (revenue 5y +2.2 %/yr)
!Loss-making · -53.5% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (4/10)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain
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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

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Price vs Fair Value

62.20 TWD 22.35 TWD Fair Value 4.61 TWD Apr 2021 Sep 2026

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 22.35 TWD – 62.20 TWD · fair‑value band 3.44 TWD – 6.89 TWD · the 22.35 TWD price screens above the 4.61 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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Company profile

Mycenax Biotech Inc. provides biopharmaceutical services and solutions for drug development and production in Taiwan.

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Mycenax Biotech Inc. provides biopharmaceutical services and solutions for drug development and production in Taiwan. The company's services include program evaluation/confirmation, cell line development and construction, process development technology platforms, drug characterization analysis, establishment of testing methods, and PIC/S GMP drug production. It offers CDMO services, including integrated biologics development services, specialized modalities, manufacturing, and quality services. It also offers bispecific antibody production, and NaxLeap, a transposon system; PlasMX, a plasmid DNA manufacturing; differential scanning fluorimetry; antibody-drug conjugates; cell and gene therapy, including allogeneic immune cell solutions, and ExoMX, a exosome manufacturing; and white papers, articles, and posters and flyers. The company was founded in 2001 and is headquartered in Zhubei, Taiwan.

Stock analysis

Mycenax Biotech (4726) currently trades at 22.35 TWD, while our model-based Fair Value estimate is 4.61 TWD, implying the stock looks roughly 384.7% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: 3.44 TWD (bear) to 6.89 TWD (bull), the price of 22.35 TWD sits above 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 38/100 (below-average quality), in the Healthcare sector.

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

Mycenax Biotech reported revenue of 740M TWD in FY2025 versus 774M TWD in FY2021, a compound −1.1%/yr. Reported net income was −449M TWD in FY2025.

Key figures

Market cap 5.1B TWD (≈ $159M) · P/S ratio 6.22 · EPS (TTM) −2.17 TWD · Net margin −60.6% · Return on equity −25.8% · Return on assets (EBIT) −10.9% · Operating margin −55.5% · Revenue (TTM) 815M TWD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 41% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −79%, 4726 screens richer than that median.

Fair Value models

Bear 3.44 TWD Fair Value 4.61 TWD Bull 6.89 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. 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.
Highest evidence
NCAV (Graham) 3.86 TWD 5.17 TWD 7.72 TWD 54
All 1 models by family
Asset-Based
NCAV (Graham) 3.86 TWD 5.17 TWD 7.72 TWD 54

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Quality Score breakdown

Overall quality 38/100

Of which business quality 36 · Market factors (momentum, volatility) 30

Profitability 1
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 80
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. 16/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.2%
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.
+0.4%
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.
+2.2%
Start year 2020 (pandemic)
Revenue growth 8 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.
+11.1%
Profit margin (trend) ⓘ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.
7.0% (2020) → −54.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

4726 screens 385% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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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.Biotechnology · 649 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 36 · Below median
Fair Value upside −79% · Bottom 25%
Profitability
Return on assets −7% · Above median
Net margin (TTM) −54% · Bottom 25%
Operating margin (TTM) −55% · Bottom 25%
Growth and dividend
Revenue growth 62% · Top 25%
Balance sheet
Debt / equity 0.27× · Highest 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 0.10× · Cheapest 25%
P/S (TTM) 0.20× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)86 · sector 97
DIVIDEND (yield)0 · sector 23

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

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

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $516.34 $567.97 +10%
Regeneron Pharmaceuticals, Inc REGN $801.82 $1,252 +56%
argenx SE ARGX $963.79 $918.60 −5%
Samsung Biologics Co 207940 1,366,000 KRW 1,502,600 KRW +10%
CSL Limited CSL A$179.12 A$197.03 +10%
Alnylam Pharmaceuticals, Inc ALNY $251.65 $218.36 −13%
Royalty Pharma plc RPRX $58.52 $24.22 −59%
BeOne Medicines AG 6160 HK$218.20 HK$169.72 −22%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
BioNTech SE BNTX $100.87 $63.62 −37%

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Mycenax Biotech · Fair Value
4.61 TWD −385%Fair Value
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Cite: Fair Value Calculator (2026). "Mycenax Biotech Fair Value". https://www.fairvalue-calculator.com/stock/4726

Frequently asked questions

Is Mycenax Biotech (4726) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4.61 TWD versus a price of 22.35 TWD, about −79% upside (overvalued).
What is the fair value of 4726?
Our model-based fair value for Mycenax Biotech is 4.61 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 22.35 TWD.
What is the quality score of 4726?
Mycenax Biotech has a Quality Score of 38/100. 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 Mycenax Biotech (4726)?
Our model-based price target is the fair value of 4.61 TWD (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 3.44 TWD, optimistic scenario 6.89 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Mycenax Biotech stock forecast for 2026?
Our models put fair value at 4.61 TWD, about −79% upside versus a price of 22.35 TWD (overvalued). Cautious scenario 3.44 TWD, optimistic scenario 6.89 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Mycenax Biotech (4726)?
Mycenax Biotech reported trailing-twelve-month revenue of about 815M TWD (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Mycenax Biotech (4726)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mycenax Biotech it is 4.61 TWD per share (as of Sep 24, 2026), against a price of 22.35 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Mycenax Biotech stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 4726 trades above its calculated fair value: price 22.35 TWD, fair value 4.61 TWD, a gap of about −79% (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 4726?
No. The price is what the market pays today (22.35 TWD); the fair value is what the company's own numbers justify (4.61 TWD). For Mycenax Biotech the two are 17.74 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Mycenax Biotech worth?
The market values Mycenax Biotech at about 5.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 22.35 TWD; our models calculate a fair value of 4.61 TWD per share.
What do the bullish and bearish scenarios say about 4726?
Our models span a range for Mycenax Biotech: cautious scenario 3.44 TWD, base 4.61 TWD, optimistic 6.89 TWD per share (as of Sep 24, 2026, price 22.35 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Mycenax Biotech (4726)?
Balance-sheet figures for Mycenax Biotech (as of Sep 24, 2026): return on equity −25.8%, debt of 0.27 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 4726 from its 52-week high?
Mycenax Biotech trades at 22.35 TWD, about 41% below its 52-week high of 37.95 TWD and at the low of 22.35 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 4.61 TWD is for.
Which stocks are comparable to Mycenax Biotech?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, 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 Mycenax Biotech stock attractive at the current price?
The data as of Sep 24, 2026: price 22.35 TWD, calculated fair value 4.61 TWD (−79%), Quality Score 38/100, from 1 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 4726 calculated?
We run Mycenax Biotech through 1 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 4.61 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 13.0 % above its aggregate fair value. Mycenax Biotech itself currently trades above fair value. 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 Mycenax Biotech (4726)?
The closing price on Sep 24, 2026 was 22.35 TWD. Our model-based fair value is 4.61 TWD, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mycenax Biotech right now?
The price sits above even our optimistic bull case (6.89 TWD). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (3.44 TWD to 6.89 TWD) leaves room in how you read the outcome.

Key figures of Mycenax Biotech

How large is the market capitalisation of Mycenax Biotech (4726)?
The market capitalisation of Mycenax Biotech is 5.1B TWD (≈ $159M). 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 Mycenax Biotech (4726)?
The price-to-sales ratio of Mycenax Biotech is 6.22 (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 Mycenax Biotech (4726)?
Earnings per share at Mycenax Biotech are −2.17 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Mycenax Biotech (4726)?
The net margin of Mycenax Biotech is −60.6% (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 Mycenax Biotech (4726)?
The return on equity (ROE) of Mycenax Biotech is −25.8% (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 Mycenax Biotech (4726)?
On an EBIT basis the return on assets of Mycenax Biotech is −10.9% (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 Mycenax Biotech (4726)?
The operating margin of Mycenax Biotech is −55.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mycenax Biotech (4726)?
Revenue at Mycenax Biotech is growing +61.7% versus a year earlier (3y avg +0.4%). 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 Mycenax Biotech (4726)?
Earnings per share at Mycenax Biotech are growing −85.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Mycenax Biotech (4726) generate?
The free cash flow of Mycenax Biotech is −126M 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 Mycenax Biotech (4726) carry?
The net debt of Mycenax Biotech is 686M TWD (fiscal year 2025). 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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