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Force MOS Technology Co., LTD. (4923) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Force MOS Technology Co., LTD. TWD 45.40, price TWD 64.00, upside -29.1%, quality 53 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? Yes
  3. Add to watchlist

Technology · TW

FM Thin data Sep 24, 2026

Force MOS Technology Co., LTD.

4923 · TWO

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value 45.40 TWD · Overvalued (−29%)
!Quality 53/100
!Weak Growth (revenue 3y −6.5 %/yr)
!Loss-making · -2.7% net margin (TTM)
!negative free cash flow
!Mixed vs. peers (5/10)
!Narrow moat 17/100
!Evidence only low, 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

66.70 TWD 23.60 TWD Fair Value 45.40 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 23.60 TWD – 66.70 TWD · fair‑value band 32.82 TWD – 56.30 TWD · the 64.00 TWD price screens above the 45.40 TWD fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Force MOS Technology Co., LTD. engages in the design, development, and sale of MOSFETs and analog integrated circuits in Taiwan and Mainland China. The company offers analog integrated circuits, MOSFETs, Schottky diodes, and passive components; bipolar transistors; diodes and rectifiers; and power management products, such as ESC and TVS.

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Force MOS Technology Co., LTD. engages in the design, development, and sale of MOSFETs and analog integrated circuits in Taiwan and Mainland China. The company offers analog integrated circuits, MOSFETs, Schottky diodes, and passive components; bipolar transistors; diodes and rectifiers; and power management products, such as ESC and TVS. Its products are used in lithium battery charge and discharge protection application CSP design. Force MOS Technology Co., LTD. was founded in 2007 and is based in New Taipei City, Taiwan.

Stock analysis

Force MOS Technology Co., LTD. (4923) currently trades at 64.00 TWD, while our model-based Fair Value estimate is 45.40 TWD, implying the stock looks roughly 41.0% overvalued today.

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Valuation

Bull case: the Dividend Discount group reads highest at a median of 18.72 TWD per share, and 0 of the 3 models we run sit above the 64.00 TWD price.

Bear case: the Asset-Based group reads lowest at 8.23 TWD, and 3 of the 3 models stay below the price. Evidence for this calculation is low.

Scenario range: 32.82 TWD (bear) to 56.30 TWD (bull), the price of 64.00 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 53/100 (solid quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Force MOS Technology Co., LTD. reported revenue of 899M TWD in FY2025 versus 1.1B TWD in FY2021, a compound −5.0%/yr. Reported net income was −172M TWD in FY2025.

Key figures

Market cap 2.1B TWD (≈ $65.8M) · P/S ratio 1.82 · EPS (TTM) −0.8200 TWD · Dividend yield 3.6% · Net margin −19.2% · Return on equity −5.5% · Return on assets (EBIT) 0.9% · Operating margin 5.3%.

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 4% below its 52-week high and 131% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at −29%, 4923 screens richer than that median.

Fair Value models

Bear 32.82 TWD Fair Value 45.40 TWD Bull 56.30 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
Gordon GGM 14.19 TWD 19.60 TWD 24.27 TWD 67
DDM Multi-Stage 14.19 TWD 18.72 TWD 22.88 TWD 65
NCAV (Graham) 6.14 TWD 8.23 TWD 12.28 TWD 51
All 3 models by family
Dividend Discount
Gordon GGM 14.19 TWD 19.60 TWD 24.27 TWD 67
DDM Multi-Stage 14.19 TWD 18.72 TWD 22.88 TWD 65
Asset-Based
NCAV (Graham) 6.14 TWD 8.23 TWD 12.28 TWD 51

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Quality Score breakdown

Overall quality 53/100

Of which business quality 52 · Market factors (momentum, volatility) 77

Profitability 25
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 90
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 85
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. 6/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+10.3%
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.
−6.5%
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.
15.9% (2021) → −19.9% (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

4923 screens 41% overvalued. Compare with NVIDIA Corporation →

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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.Semiconductors · 339 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 53 · Below median
Fair Value upside −32% · Above median
Profitability
Return on assets −5% · Bottom 25%
Net margin (TTM) −3% · Bottom 25%
Operating margin (TTM) 5% · Below median
Growth and dividend
Revenue growth 23% · Above median
Dividend yield (TTM) 3.6% · Top 25%

Valuation Multiplesvs Semiconductors median · lower = cheaper

P/B 0.17× · Cheapest 25%
P/S (TTM) 0.07× · 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 64
PAST (return on equity)0 · sector 22
HEALTH (low debt)0 · sector 95
DIVIDEND (yield)73 · sector 20

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 Semiconductors stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $228.87 $197.96 −14%
Taiwan Semiconductor Manufacturing Company TSM $452.00 $497.20 +10%
Broadcom Inc AVGO $364.54 $303.52 −17%
SK hynix Inc 000660 1,862,000 KRW 2,048,200 KRW +10%
Micron Technology, Inc MU $1,096 $151.51 −86%
Advanced Micro Devices, Inc AMD $623.77 $122.74 −80%
Intel Corporation INTC $123.86 $35.41 −71%
Texas Instruments Incorporated TXN $271.41 $82.09 −70%
Arm Holdings ARM $333.20 $44.44 −87%
QUALCOMM Incorporated QCOM $198.27 $218.10 +10%

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Force MOS Technology Co., LTD. · Fair Value
45.40 TWD −41%Fair Value
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Cite: Fair Value Calculator (2026). "Force MOS Technology Co., LTD. Fair Value". https://www.fairvalue-calculator.com/stock/4923

Frequently asked questions

Is Force MOS Technology Co., LTD. (4923) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 45.40 TWD versus a price of 64.00 TWD, about −29% upside (overvalued).
What is the fair value of 4923?
Our model-based fair value for Force MOS Technology Co., LTD. is 45.40 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 64.00 TWD.
What is the quality score of 4923?
Force MOS Technology Co., LTD. has a Quality Score of 53/100. 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 Force MOS Technology Co., LTD. (4923)?
Our model-based price target is the fair value of 45.40 TWD (as of Sep 24, 2026) from 3 valuation models. Cautious scenario 32.82 TWD, optimistic scenario 56.30 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Force MOS Technology Co., LTD. stock forecast for 2026?
Our models put fair value at 45.40 TWD, about −29% upside versus a price of 64.00 TWD (overvalued). Cautious scenario 32.82 TWD, optimistic scenario 56.30 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Force MOS Technology Co., LTD. (4923)?
Force MOS Technology Co., LTD. reported trailing-twelve-month revenue of about 1.0B TWD (latest available figure, as of Sep 24, 2026).
Does Force MOS Technology Co., LTD. pay a dividend?
Force MOS Technology Co., LTD. currently shows a dividend yield of about 3.64% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Force MOS Technology Co., LTD. (4923)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Force MOS Technology Co., LTD. it is 45.40 TWD per share (as of Sep 24, 2026), against a price of 64.00 TWD. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Force MOS Technology Co., LTD. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 4923 trades above its calculated fair value: price 64.00 TWD, fair value 45.40 TWD, a gap of about −29% (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 4923?
No. The price is what the market pays today (64.00 TWD); the fair value is what the company's own numbers justify (45.40 TWD). For Force MOS Technology Co., LTD. the two are 18.60 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Force MOS Technology Co., LTD. worth?
The market values Force MOS Technology Co., LTD. at about 2.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 64.00 TWD; our models calculate a fair value of 45.40 TWD per share.
What do the bullish and bearish scenarios say about 4923?
Our models span a range for Force MOS Technology Co., LTD.: cautious scenario 32.82 TWD, base 45.40 TWD, optimistic 56.30 TWD per share (as of Sep 24, 2026, price 64.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Force MOS Technology Co., LTD. (4923)?
Balance-sheet figures for Force MOS Technology Co., LTD. (as of Sep 24, 2026): return on equity −5.5%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 4923 from its 52-week high?
Force MOS Technology Co., LTD. trades at 64.00 TWD, about 4% below its 52-week high of 66.70 TWD and 131% above the low of 27.70 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 45.40 TWD is for.
Which stocks are comparable to Force MOS Technology Co., LTD.?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix 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 Force MOS Technology Co., LTD. stock attractive at the current price?
The data as of Sep 24, 2026: price 64.00 TWD, calculated fair value 45.40 TWD (−29%), Quality Score 53/100, from 3 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 4923 calculated?
We run Force MOS Technology Co., LTD. through 3 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 45.40 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 13.2 % above its aggregate fair value. Force MOS Technology Co., LTD. 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 Force MOS Technology Co., LTD. (4923)?
The closing price on Sep 24, 2026 was 64.00 TWD. Our model-based fair value is 45.40 TWD, about −29% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Force MOS Technology Co., LTD. right now?
The price sits above even our optimistic bull case (56.30 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Force MOS Technology Co., LTD.

How large is the market capitalisation of Force MOS Technology Co., LTD. (4923)?
The market capitalisation of Force MOS Technology Co., LTD. is 2.1B TWD (≈ $65.8M). 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 Force MOS Technology Co., LTD. (4923)?
The price-to-sales ratio of Force MOS Technology Co., LTD. is 1.82 (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 Force MOS Technology Co., LTD. (4923)?
Earnings per share at Force MOS Technology Co., LTD. are −0.8200 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Force MOS Technology Co., LTD. (4923)?
The dividend yield of Force MOS Technology Co., LTD. is 3.6%. 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 Force MOS Technology Co., LTD. (4923)?
The net margin of Force MOS Technology Co., LTD. is −19.2% (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 Force MOS Technology Co., LTD. (4923)?
The return on equity (ROE) of Force MOS Technology Co., LTD. is −5.5% (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 Force MOS Technology Co., LTD. (4923)?
On an EBIT basis the return on assets of Force MOS Technology Co., LTD. is 0.9% (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 Force MOS Technology Co., LTD. (4923)?
The operating margin of Force MOS Technology Co., LTD. is 5.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Force MOS Technology Co., LTD. (4923)?
Revenue at Force MOS Technology Co., LTD. is growing +22.5% versus a year earlier (3y avg −6.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Force MOS Technology Co., LTD. (4923) generate?
The free cash flow of Force MOS Technology Co., LTD. is −140M 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 Force MOS Technology Co., LTD. (4923) carry?
The net debt of Force MOS Technology Co., LTD. is 40.2M 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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