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Ingentec Corporation (4768) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Ingentec Corporation TWD 526, price TWD 329, upside +60.0%, quality 35 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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Basic Materials · TW

IC Some data Sep 23, 2026

Ingentec Corporation

4768 · TWO

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

✓Fair value 526.40 TWD · Strongly undervalued (+60%)
!Quality 35/100
!Expensive Growth (revenue 3y +4.2 %/yr)
!Loss over the last twelve months · -1.7% net margin (TTM) · fiscal year 2025 1.5%
!Moderate debt · negative free cash flow
!Trails peers (5/13)
!Narrow moat 17/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 24 out of 100
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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

528.60 TWD 64.67 TWD Fair Value 526.40 TWD Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range 64.67 TWD – 528.60 TWD · fair‑value band 368.35 TWD – 684.45 TWD · the 329.00 TWD price screens below the 526.40 TWD fair value. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Ingentec Corporation, together with its subsidiaries, engages in manufacturing and sales of precision chemicals for various optoelectronic and semiconductor industry.

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Ingentec Corporation, together with its subsidiaries, engages in manufacturing and sales of precision chemicals for various optoelectronic and semiconductor industry. The company offers fine chemical distillation technology, such as specialty gas; vapor etching and decomposition technology, comprising dry etching foundry services; intrinsic magnetization filmy thermal conductivity technology, which include copper magnetic wafer, top face emitting pixel package, CMuLED, power red chips, and TransVivi Pixel. In addition, it is involved in international trading business of semiconductors, flat panels display, printed circuit board, photovoltaic, and LEP. Additionally, the company provides Wet chemicals; and TVG glass core products. Ingentec Corporation was founded in 2010 and is headquartered in Miaoli, Taiwan.

Stock analysis

Ingentec Corporation (4768) currently trades at 329.00 TWD, while our model-based Fair Value estimate is 526.40 TWD, implying the stock looks roughly 37.5% undervalued today.

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Valuation

Bull case: the Dividend Discount group reads highest at a median of 1,521 TWD per share, and 6 of the 14 models we run sit above the 329.00 TWD price.

Bear case: the Earnings-Based group reads lowest at 208.45 TWD, and 8 of the 14 models stay below the price. Evidence for this calculation is medium.

Scenario range: 368.35 TWD (bear) to 684.45 TWD (bull), the price of 329.00 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 35/100 (below-average quality), in the Basic Materials sector.

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

Ingentec Corporation reported revenue of 1.2B TWD in FY2025 versus 700M TWD in FY2021, a compound +15.1%/yr. Reported net income was 18.7M TWD in FY2025, compounding −27.5%/yr from FY2021.

Key figures

Market cap 15.6B TWD (≈ $491M) · P/E ratio 844.7 · P/S ratio 12.8 · EPS (TTM) −0.5900 TWD · Dividend yield 1.2% · Net margin 1.5% · Return on equity −2.2% · Return on assets (EBIT) 8.4%.

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 38% below its 52-week high and 80% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −48% fair-value upside, at 60%, 4768 screens cheaper than that median.

Fair Value models

Bear 368.35 TWD Fair Value 526.40 TWD Bull 684.45 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
Residual Income 644.35 TWD 600.63 TWD 411.51 TWD 73
EV/EBITDA 407.71 TWD 652.90 TWD 898.10 TWD 66
Gordon GGM 923.76 TWD 1,665 TWD 2,292 TWD 65
All 14 models by family
Earnings-Based
Graham-Dodd 83.63 TWD 509.71 TWD 710.88 TWD 61
Lynch FV 146.04 TWD 208.45 TWD 270.86 TWD 58
PEG = 1.0 146.04 TWD 208.45 TWD 270.86 TWD 55
Dividend Discount
Gordon GGM 923.76 TWD 1,665 TWD 2,292 TWD 65
DDM Multi-Stage 923.76 TWD 1,521 TWD 1,778 TWD 64
Multiples
P/E Multiple 156.49 TWD 208.76 TWD 261.03 TWD 63
P/S Multiple 156.49 TWD 208.76 TWD 261.03 TWD 58
P/B Multiple 156.49 TWD 208.76 TWD 261.03 TWD 55
EV/EBIT n/a 28.83 TWD 117.85 TWD 61
EV/EBITDA 407.71 TWD 652.90 TWD 898.10 TWD 66
EV/Revenue n/a 3.17 TWD 102.64 TWD 50
Asset-Based
NCAV (Graham) 493.88 TWD 661.77 TWD 987.75 TWD 54
Economic Profit
Residual Income 644.35 TWD 600.63 TWD 411.51 TWD 73
Growth Earnings
Growth-Adj P/E 191.97 TWD 274.34 TWD 356.71 TWD 65

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Quality Score breakdown

Overall quality 35/100

Of which business quality 40 · Market factors (momentum, volatility) 48

Profitability 18
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 43
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 18
Disciplined investing over empire-building
Low Volatility 29
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 69
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. 29/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+20.9%
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.
+4.2%
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.
−24.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−25.6%
Dividend (yield on the price)1.2%
Profit margin 2021 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.20% → 3%

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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.Specialty Chemicals · 719 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside +60% · Top 25%
Profitability
Return on assets 0% · Bottom 25%
Net margin (TTM) −2% · Bottom 25%
Operating margin (TTM) −1% · Bottom 25%
Growth and dividend
Revenue growth 124% · Top 25%
Dividend yield (TTM) 1.2% · Below median
Balance sheet
Debt / equity 0.70× · Highest 25%

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/E (TTM) 844.7× · Priciest 25%
P/B 0.33× · Cheapest 25%
P/S (TTM) 0.29× · Cheapest 25%
EV/EBITDA 8.7× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 1
FUTURE (revenue growth)100 · sector 21
PAST (return on equity)0 · sector 23
HEALTH (low debt)65 · sector 95
DIVIDEND (yield)24 · sector 29

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Linde plc LIN $464.91 $441.28 −5%
The Sherwin-Williams Company SHW $328.35 $148.97 −55%
Ecolab Inc ECL $276.22 $96.18 −65%
Air Products and Chemicals, Inc APD $287.86 $122.14 −58%
Givaudan SA GIVN CHF 3,464 CHF 1,523 −56%
Wanhua Chemical Group 600309 ¥70.66 ¥68.03 −4%
Sika AG SIKA CHF 188.90 CHF 98.89 −48%
Asian Paints Limited ASIANPAINT ₹2,449 ₹1,479 −40%
PPG Industries, Inc PPG $107.77 $77.06 −28%
DSM-Firmenich AG DSFIR CHF 91.50 CHF 29.27 −68%

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526.40 TWD +38%Fair Value
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Cite: Fair Value Calculator (2026). "Ingentec Corporation Fair Value". https://www.fairvalue-calculator.com/stock/4768

Frequently asked questions

Is Ingentec Corporation (4768) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 526.40 TWD versus a price of 329.00 TWD, about +60% upside (undervalued).
What is the fair value of 4768?
Our model-based fair value for Ingentec Corporation is 526.40 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 329.00 TWD.
What is the quality score of 4768?
Ingentec Corporation has a Quality Score of 35/100. 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 Ingentec Corporation (4768)?
Our model-based price target is the fair value of 526.40 TWD (as of Sep 23, 2026) from 14 valuation models. Cautious scenario 368.35 TWD, optimistic scenario 684.45 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Ingentec Corporation stock forecast for 2026?
Our models put fair value at 526.40 TWD, about +60% upside versus a price of 329.00 TWD (undervalued). Cautious scenario 368.35 TWD, optimistic scenario 684.45 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Ingentec Corporation (4768)?
Ingentec Corporation reported trailing-twelve-month revenue of about 1.7B TWD (latest available figure, as of Sep 23, 2026).
Does Ingentec Corporation pay a dividend?
Ingentec Corporation currently shows a dividend yield of about 1.19% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Ingentec Corporation (4768)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ingentec Corporation it is 526.40 TWD per share (as of Sep 23, 2026), against a price of 329.00 TWD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Ingentec Corporation stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 4768 trades below its calculated fair value: price 329.00 TWD, fair value 526.40 TWD, a gap of about +60% (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 4768?
No. The price is what the market pays today (329.00 TWD); the fair value is what the company's own numbers justify (526.40 TWD). For Ingentec Corporation the two are 197.40 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Ingentec Corporation worth?
The market values Ingentec Corporation at about 15.6B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 329.00 TWD; our models calculate a fair value of 526.40 TWD per share.
What do the bullish and bearish scenarios say about 4768?
Our models span a range for Ingentec Corporation: cautious scenario 368.35 TWD, base 526.40 TWD, optimistic 684.45 TWD per share (as of Sep 23, 2026, price 329.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ingentec Corporation (4768)?
Balance-sheet figures for Ingentec Corporation (as of Sep 23, 2026): return on equity −2.2%, debt of 0.70 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is 4768 from its 52-week high?
Ingentec Corporation trades at 329.00 TWD, about 38% below its 52-week high of 528.60 TWD and 80% above the low of 183.24 TWD (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 526.40 TWD is for.
Which stocks are comparable to Ingentec Corporation?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Ingentec Corporation stock attractive at the current price?
The data as of Sep 23, 2026: price 329.00 TWD, calculated fair value 526.40 TWD (+60%), Quality Score 35/100, from 14 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 4768 calculated?
We run Ingentec Corporation through 14 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 526.40 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. Ingentec Corporation currently trades 60 % 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 Ingentec Corporation (4768)?
The closing price on Sep 23, 2026 was 329.00 TWD. Our model-based fair value is 526.40 TWD, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ingentec Corporation right now?
The large discount to fair value meets weak quality (35/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (368.35 TWD). The market is more pessimistic than our downside scenario. A fairly wide model range (368.35 TWD to 684.45 TWD) leaves room in how you read the outcome.

Key figures of Ingentec Corporation

How large is the market capitalisation of Ingentec Corporation (4768)?
The market capitalisation of Ingentec Corporation is 15.6B TWD (≈ $491M). 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/E ratio of Ingentec Corporation (4768)?
The price-to-earnings ratio of Ingentec Corporation is 844.7 (as of Jul 23, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Ingentec Corporation (4768)?
The price-to-sales ratio of Ingentec Corporation is 12.8 (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 Ingentec Corporation (4768)?
Earnings per share at Ingentec Corporation are −0.5900 TWD (price ÷ EPS = P/E 844.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ingentec Corporation (4768)?
The dividend yield of Ingentec Corporation is 1.2%. 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 Ingentec Corporation (4768)?
The net margin of Ingentec Corporation is 1.5% (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 Ingentec Corporation (4768)?
The return on equity (ROE) of Ingentec Corporation is −2.2% (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 Ingentec Corporation (4768)?
On an EBIT basis the return on assets of Ingentec Corporation is 8.4% (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 Ingentec Corporation (4768)?
The operating margin of Ingentec Corporation is −1.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ingentec Corporation (4768)?
Revenue at Ingentec Corporation is growing +124% versus a year earlier (3y avg +4.2%). 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 Ingentec Corporation (4768)?
Earnings per share at Ingentec Corporation are growing −2.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ingentec Corporation (4768) generate?
The free cash flow of Ingentec Corporation is −323M 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 Ingentec Corporation (4768) carry?
The net debt of Ingentec Corporation is 1.0B 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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