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iBase Solution CO., LTD (6441) Fair Value & Analysis

Technology · TW · Market cap 1.1B TWD

IS iBase Solution CO., LTD 6441 · TWO
Price23.50 TWD
Fair Value19.75 TWD
Upside-16.0%
Quality28/100
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Weak Growth
Loss-making · -171.8% net margin
Low debt · negative free cash flow
Trails peers (3/8)
Narrow moat 12/100
Evidence: Low Range 12.95 TWD – 24.61 TWD Share as image

Fair value as of: Jul 23, 2026

From 3 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 19.39 TWD to 19.75 TWD (+1.9%) since Jun 25, 2026. Share price +2.2% over the past month.

Below-average quality, and screening another 16% overvalued on our models.

What matters now

  • Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (12.95 TWD to 24.61 TWD) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

124.55 TWD 17.35 TWD Fair Value 19.75 TWD Mar 2021 Aug 2026

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

How to read this chart

60‑month range 17.35 TWD – 124.55 TWD · fair‑value band 12.95 TWD – 24.61 TWD · the 23.50 TWD price screens above the 19.75 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

iBase Solution CO., LTD (6441) currently trades at 23.50 TWD, while our model-based Fair Value estimate is 19.75 TWD, implying the stock looks roughly 16.0% overvalued today. The Quality Score stands at 28/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Trailing-twelve-month revenue stands at 182M TWD. Revenue declined 65.7% year over year. It earns a return on equity of -28.8%. Net debt stands at 311M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 12.95 TWD (bear case) to 24.61 TWD (bull case); at 23.50 TWD, the current price sits within 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 30% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -16%, 6441 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Gordon GGM 0.4300 TWD 0.4700 TWD 0.5200 TWD 70
DDM Multi-Stage 0.4300 TWD 0.5200 TWD 0.6200 TWD 61
NCAV (Graham) 9.59 TWD 12.85 TWD 19.17 TWD 50
All 3 models by family
Dividend Discount
Gordon GGM 0.4300 TWD 0.4700 TWD 0.5200 TWD 70
DDM Multi-Stage 0.4300 TWD 0.5200 TWD 0.6200 TWD 61
Asset-Based
NCAV (Graham) 9.59 TWD 12.85 TWD 19.17 TWD 50

Widest divergence: Asset-Based (12.85 TWD) versus Dividend Discount (0.4700 TWD). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 182M TWD
Revenue growth (YoY) -65.7%
Net margin -172%
Return on equity -28.8%
Free cash flow −82.9M TWD FY2025
Operating margin -254%
More key figures
EPS (TTM) -5.16 TWD
EPS growth (YoY) -86.6%
Net debt 311M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 28/100

Of which business quality 28 · Market factors (momentum, volatility) 33

Profitability 0
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 43
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.

About the company

iBase Solution CO., LTD engages in the research, design, manufacturing, and sales of industrial computer-related application products and energy storage equipment in Taiwan.

Full company description

iBase Solution CO., LTD engages in the research, design, manufacturing, and sales of industrial computer-related application products and energy storage equipment in Taiwan. The company offers box PC platforms and self service betting terminal; energy storage system, EV AC and EV DC charging station, electric scooter charging station, and iUPS+100K; and AIoT products. It also various solutions, such as sports betting kiosk and terminals, casino cabinets, lottery terminals, backplane PC and box PC, as well as ODM, OEM, AND JDM solutions; energy management, power smoothing, ancillary services, microgrid, and EPC projects; and AIoT automation solutions. The company was formerly known as Ibase Gaming Inc. and changed its name to iBase Solution CO., LTD in May 2022. iBase Solution CO., LTD was founded in 2011 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

iBase Solution CO., LTD reported revenue of 235M TWD in FY2025 versus 1.5B TWD in FY2021, a compound −37.3%/yr. Reported net income was −275M TWD in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
235M TWD
Latest YoY
−56.5%
Avg. 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.
−26.0%
Avg. 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.
−28.4%
Avg. growth/yr (8Y) 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.
−20.0%
Revenue −37.3%/yr
FY21 1.5B TWD
FY22 581M TWD
FY23 683M TWD
FY24 540M TWD
FY25 235M TWD
Net income
FY21 −122M TWD
FY22 851K TWD
FY23 −70.0M TWD
FY24 −142M TWD
FY25 −275M TWD

6441 screens 16% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "iBase Solution CO., LTD Fair Value". https://www.fairvalue-calculator.com/stock/6441

Peer Group

Semiconductors · 318 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 28 · Bottom 25%
Fair Value upside −16% · Top 25%
Return on assets -11% · Bottom 25%
Net margin (TTM) -172% · Bottom 25%
Revenue growth -66% · Bottom 25%

Valuation Multiples vs Semiconductors median · lower = cheaper

P/S (TTM) 0.19× · Cheaper than 75% of peers

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.

VALUE 12 · sector 0
FUTURE 0 · sector 60
PAST 0 · sector 25
HEALTH 100 · sector 97
DIVIDEND 0 · sector 22

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €367.75 €121.25 -67%
Micron Technology, Inc 1MU €784.90 €185.67 -76%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €425.20 €56.33 -87%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
SK Square Co 402340 1,212,000 KRW 868,000 KRW -28%

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Frequently asked questions

Is iBase Solution CO., LTD (6441) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 19.75 TWD versus a price of 23.50 TWD, about −16% (overvalued).
What is the fair value of 6441?
Our model-based fair value for iBase Solution CO., LTD is 19.75 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 23.50 TWD.
What is the quality score of 6441?
iBase Solution CO., LTD has a Quality Score of 28/100. 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 revenue of iBase Solution CO., LTD (6441)?
iBase Solution CO., LTD reported trailing-twelve-month revenue of about 182M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6441?
The net profit margin of iBase Solution CO., LTD is about -171.8%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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