In Win Development Inc (6117) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of In Win Development Inc TWD 25.78, price TWD 61.70, upside -58.2%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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In Win Development Inc. engages in processing, manufacturing, and trading of computer and peripheral equipment, and plastic products in Europe, the United States, Japan, Taiwan, and internationally.
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In Win Development Inc. engages in processing, manufacturing, and trading of computer and peripheral equipment, and plastic products in Europe, the United States, Japan, Taiwan, and internationally. The company offers gaming and computer chassis, gaming and PC power supplies, IPC/servers, and cooling fans, as well as full, mid, mini, and micro tower chassis products. It also engages in the manufacturing, baking, and trading of mechanical hardware parts; cloud platform construction planning with software deployment; and business promotion activities. In Win Development Inc. was incorporated in 1985 and is based in Taoyuan City, Taiwan.
Stock analysis
In Win Development Inc (6117) currently trades at 61.70 TWD, while our model-based Fair Value estimate is 25.78 TWD, implying the stock looks roughly 139.3% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 79.75 TWD per share, and 6 of the 14 models we run sit above the 61.70 TWD price.
Bear case: the Asset-Based group reads lowest at 16.06 TWD, and 8 of the 14 models stay below the price. Evidence for this calculation is high.
Scenario range: 21.97 TWD (bear) to 42.22 TWD (bull), the price of 61.70 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 Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
In Win Development Inc reported revenue of 3.2B TWD in FY2025 versus 2.3B TWD in FY2021, a compound +8.7%/yr. Reported net income was 346M TWD in FY2025.
Key figures
Market cap 6.1B TWD (≈ $191M) · P/E ratio 17.0 · P/S ratio 1.83 · EPS (TTM) 3.63 TWD · Dividend yield 9.7% · Net margin 10.7% · Return on equity 19.7% · Return on assets (EBIT) 3.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −33% fair-value upside, at −58%, 6117 screens richer than that median.
Fair Value models
Bear 21.97 TWDFair Value 25.78 TWDBull 42.22 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.
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.48/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+11.8%
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.
+10.4%
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.
+7.9%
Start year 2020 (pandemic). Over 10 years: +4.3% a year
Revenue growth 23 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.
+0.7%
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What shareholders gained per year (last 3 years), in TWD (mathematically smoothed) ⓘ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 3 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+91.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+81.8%
Dividend (yield on the price)9.7%
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.−3% → 14%
2025 sits 243% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Price, fair value, quality and upside side by side.
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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.Computer Hardware · 220 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score38 · Bottom 25%
Fair Value upside−58% · Below median
Profitability
Return on equity (TTM)20% · Top 25%
Return on assets6% · Top 25%
Net margin (TTM)13% · Top 25%
Operating margin (TTM)17% · Top 25%
Growth and dividend
Revenue growth21% · Above median
Dividend yield (TTM)9.7% · Top 25%
Balance sheet
Debt / equity0.77× · Highest 25%
Valuation Multiplesvs Computer Hardware median · lower = cheaper
P/E (TTM)17.0× · Cheapest 25%
P/B2.74× · Pricier than median
P/S (TTM)1.81× · Pricier than median
EV/EBITDA9.3× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 59
PAST (return on equity)79· sector 26
HEALTH (low debt)62· sector 97
DIVIDEND (yield)100· sector 40
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "In Win Development Inc Fair Value". https://www.fairvalue-calculator.com/stock/6117
Frequently asked questions
Is In Win Development Inc (6117) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 25.78 TWD versus a price of 61.70 TWD, about −58% upside (overvalued).
What is the fair value of 6117?
Our model-based fair value for In Win Development Inc is 25.78 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 61.70 TWD.
What is the quality score of 6117?
In Win Development Inc 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 In Win Development Inc (6117)?
Our model-based price target is the fair value of 25.78 TWD (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 21.97 TWD, optimistic scenario 42.22 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the In Win Development Inc stock forecast for 2026?
Our models put fair value at 25.78 TWD, about −58% upside versus a price of 61.70 TWD (overvalued). Cautious scenario 21.97 TWD, optimistic scenario 42.22 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of In Win Development Inc (6117)?
In Win Development Inc reported trailing-twelve-month revenue of about 3.4B TWD (latest available figure, as of Sep 24, 2026).
Does In Win Development Inc pay a dividend?
In Win Development Inc currently shows a dividend yield of about 9.68% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of In Win Development Inc (6117)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For In Win Development Inc it is 25.78 TWD per share (as of Sep 24, 2026), against a price of 61.70 TWD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is In Win Development Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6117 trades above its calculated fair value: price 61.70 TWD, fair value 25.78 TWD, a gap of about −58% (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 6117?
No. The price is what the market pays today (61.70 TWD); the fair value is what the company's own numbers justify (25.78 TWD). For In Win Development Inc the two are 35.92 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is In Win Development Inc worth?
The market values In Win Development Inc at about 6.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 61.70 TWD; our models calculate a fair value of 25.78 TWD per share.
What do the bullish and bearish scenarios say about 6117?
Our models span a range for In Win Development Inc: cautious scenario 21.97 TWD, base 25.78 TWD, optimistic 42.22 TWD per share (as of Sep 24, 2026, price 61.70 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6117?
In Win Development Inc trades at a price-to-earnings ratio of 17.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 25.78 TWD is built from several models across several years. Other multiples: P/B 2.7, P/S 1.8, EV/EBITDA 9.3.
How solid is the balance sheet of In Win Development Inc (6117)?
Balance-sheet figures for In Win Development Inc (as of Sep 24, 2026): return on equity 19.7%, debt of 0.77 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 6117 from its 52-week high?
In Win Development Inc trades at 61.70 TWD, about 35% below its 52-week high of 95.00 TWD and 2% above the low of 60.70 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 25.78 TWD is for.
Which stocks are comparable to In Win Development Inc?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Western Digital Corporation, Wiwynn Corporation, 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 In Win Development Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 61.70 TWD, calculated fair value 25.78 TWD (−58%), Quality Score 38/100, 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 6117 calculated?
We run In Win Development Inc 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 25.78 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. In Win Development Inc 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 In Win Development Inc (6117)?
The closing price on Sep 24, 2026 was 61.70 TWD. Our model-based fair value is 25.78 TWD, about −58% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with In Win Development Inc right now?
The price sits above even our optimistic bull case (42.22 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. A fairly wide model range (21.97 TWD to 42.22 TWD) leaves room in how you read the outcome.
Key figures of In Win Development Inc
How large is the market capitalisation of In Win Development Inc (6117)?
The market capitalisation of In Win Development Inc is 6.1B TWD (≈ $191M). 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 In Win Development Inc (6117)?
The price-to-sales ratio of In Win Development Inc is 1.83 (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 In Win Development Inc (6117)?
Earnings per share at In Win Development Inc are 3.63 TWD (price ÷ EPS = P/E 17.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of In Win Development Inc (6117)?
The dividend yield of In Win Development Inc is 9.7% (payout 164%). 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 In Win Development Inc (6117)?
The net margin of In Win Development Inc is 10.7% (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 In Win Development Inc (6117)?
The return on equity (ROE) of In Win Development Inc is 19.7% (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 In Win Development Inc (6117)?
On an EBIT basis the return on assets of In Win Development Inc is 3.9% (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 In Win Development Inc (6117)?
The operating margin of In Win Development Inc is 16.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at In Win Development Inc (6117)?
Revenue at In Win Development Inc is growing +21.2% versus a year earlier (3y avg +10.4%). 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 In Win Development Inc (6117)?
Earnings per share at In Win Development Inc are growing +177% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does In Win Development Inc (6117) generate?
The free cash flow of In Win Development Inc is −265M 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 In Win Development Inc (6117) carry?
The net debt of In Win Development Inc is 2.0B 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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