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Ibase Gaming (6441) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Ibase Gaming TWD 19.42, price TWD 24.90, upside -22.0%, quality 28 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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Technology · TW · ISIN TW0006441009

IG Thin data Sep 24, 2026

Ibase Gaming

6441 · TWO

Weak valuationQuality is weak on top of the rich price.

!Fair value 19.42 TWD · Overvalued (−22%)
!Quality 28/100
!Weak Growth (revenue 5y −28.4 %/yr)
!Loss-making · -171.8% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (3/8)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 4 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

104.55 TWD 17.35 TWD Fair Value 19.42 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 17.35 TWD – 104.55 TWD · fair‑value band 12.73 TWD – 24.19 TWD · the 24.90 TWD price screens above the 19.42 TWD fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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

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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.

Stock analysis

Ibase Gaming (6441) currently trades at 24.90 TWD, while our model-based Fair Value estimate is 19.42 TWD, implying the stock looks roughly 28.2% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 94/100, which puts the evidence level at low.

Scenario range: 12.73 TWD (bear) to 24.19 TWD (bull), the price of 24.90 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 28/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Ibase Gaming 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.

Key figures

Market cap 1.3B TWD (≈ $41.7M) · P/S ratio 6.18 · EPS (TTM) −5.16 TWD · Net margin −117% · Return on equity −28.8% · Return on assets (EBIT) −4.4% · Operating margin −254% · Revenue (TTM) 182M 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 22% below its 52-week high and 44% 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 −22%, 6441 screens richer than that median.

Fair Value models

Bear 12.73 TWD Fair Value 19.42 TWD Bull 24.19 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) 9.59 TWD 12.85 TWD 19.17 TWD 54
All 1 models by family
Asset-Based
NCAV (Graham) 9.59 TWD 12.85 TWD 19.17 TWD 54

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Quality Score breakdown

Overall quality 28/100

Of which business quality 28 · Market factors (momentum, volatility) 44

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 48
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 43
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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−56.5%
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.
−26.0%
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.
−28.4%
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.
−20.0%
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.
−3.3% (2020) → −91.6% (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

6441 screens 28% 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 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside −21% · Above median
Profitability
Return on assets −11% · Bottom 25%
Net margin (TTM) −172% · Bottom 25%
Growth and dividend
Revenue growth −66% · Bottom 25%

Valuation Multiplesvs Semiconductors median · lower = cheaper

P/S (TTM) 0.23× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)4 · sector 0
FUTURE (revenue growth)0 · sector 64
PAST (return on equity)0 · sector 22
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 20

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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Ibase Gaming · Fair Value
19.42 TWD −28%Fair Value
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Cite: Fair Value Calculator (2026). "Ibase Gaming Fair Value". https://www.fairvalue-calculator.com/stock/6441

Frequently asked questions

Is Ibase Gaming (6441) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 19.42 TWD versus a price of 24.90 TWD, about −22% upside (overvalued).
What is the fair value of 6441?
Our model-based fair value for Ibase Gaming is 19.42 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 24.90 TWD.
What is the quality score of 6441?
Ibase Gaming 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 price target for Ibase Gaming (6441)?
Our model-based price target is the fair value of 19.42 TWD (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 12.73 TWD, optimistic scenario 24.19 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Ibase Gaming stock forecast for 2026?
Our models put fair value at 19.42 TWD, about −22% upside versus a price of 24.90 TWD (overvalued). Cautious scenario 12.73 TWD, optimistic scenario 24.19 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Ibase Gaming (6441)?
Ibase Gaming reported trailing-twelve-month revenue of about 182M TWD (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Ibase Gaming (6441)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ibase Gaming it is 19.42 TWD per share (as of Sep 24, 2026), against a price of 24.90 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Ibase Gaming stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6441 trades above its calculated fair value: price 24.90 TWD, fair value 19.42 TWD, a gap of about −22% (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 6441?
No. The price is what the market pays today (24.90 TWD); the fair value is what the company's own numbers justify (19.42 TWD). For Ibase Gaming the two are 5.48 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Ibase Gaming worth?
The market values Ibase Gaming at about 1.3B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 24.90 TWD; our models calculate a fair value of 19.42 TWD per share.
What do the bullish and bearish scenarios say about 6441?
Our models span a range for Ibase Gaming: cautious scenario 12.73 TWD, base 19.42 TWD, optimistic 24.19 TWD per share (as of Sep 24, 2026, price 24.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ibase Gaming (6441)?
Balance-sheet figures for Ibase Gaming (as of Sep 24, 2026): return on equity −28.8%. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is 6441 from its 52-week high?
Ibase Gaming trades at 24.90 TWD, about 22% below its 52-week high of 32.10 TWD and 44% above the low of 17.35 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 19.42 TWD is for.
Which stocks are comparable to Ibase Gaming?
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 Ibase Gaming stock attractive at the current price?
The data as of Sep 24, 2026: price 24.90 TWD, calculated fair value 19.42 TWD (−22%), Quality Score 28/100, 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 6441 calculated?
We run Ibase Gaming 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 19.42 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. Ibase Gaming 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 Ibase Gaming (6441)?
The closing price on Sep 24, 2026 was 24.90 TWD. Our model-based fair value is 19.42 TWD, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ibase Gaming right now?
The price sits above even our optimistic bull case (24.19 TWD). The favourable scenario is already priced in. 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 (12.73 TWD to 24.19 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.

Key figures of Ibase Gaming

How large is the market capitalisation of Ibase Gaming (6441)?
The market capitalisation of Ibase Gaming is 1.3B TWD (≈ $41.7M). 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 Ibase Gaming (6441)?
The price-to-sales ratio of Ibase Gaming is 6.18 (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 Ibase Gaming (6441)?
Earnings per share at Ibase Gaming are −5.16 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ibase Gaming (6441)?
The net margin of Ibase Gaming is −117% (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 Ibase Gaming (6441)?
The return on equity (ROE) of Ibase Gaming is −28.8% (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 Ibase Gaming (6441)?
On an EBIT basis the return on assets of Ibase Gaming is −4.4% (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 Ibase Gaming (6441)?
The operating margin of Ibase Gaming is −254% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ibase Gaming (6441)?
Revenue at Ibase Gaming is growing −65.7% versus a year earlier (3y avg −26.0%). 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 Ibase Gaming (6441)?
Earnings per share at Ibase Gaming are growing −86.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ibase Gaming (6441) generate?
The free cash flow of Ibase Gaming is −82.9M 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 Ibase Gaming (6441) carry?
The net debt of Ibase Gaming is 311M 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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