ICARES Medicus, Inc (6612) Fair Value & Analysis
Healthcare · TW · Market cap 3.3B TWD
Fair value as of: Jul 23, 2026
From 17 valuation models · updated 18 days ago
Fair value updated Jul 23, 2026, revised from 27.68 TWD to 27.79 TWD (+0.4%) since Jul 12, 2026. Share price +0.7% over the past month.
Below-average quality, and screening another 63% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (29.88 TWD). The favourable scenario is already priced in.
- Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
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 59.00 TWD – 185.00 TWD · fair‑value band 24.38 TWD – 29.88 TWD · the 74.80 TWD price screens above the 27.79 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.
Analysis
ICARES Medicus, Inc (6612) currently trades at 74.80 TWD, while our model-based Fair Value estimate is 27.79 TWD, implying the stock looks roughly 62.9% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Healthcare 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: medium).
Over the trailing twelve months, ICARES Medicus, Inc generated revenue of 1.1B TWD at a net margin of 3.7%. Revenue grew 0.3% year over year. It earns a return on equity of -0.5%. Net debt stands at 262M TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 24.38 TWD (bear case) to 29.88 TWD (bull case); at 74.80 TWD, the current price sits above 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 40% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -63%, 6612 screens richer 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.
All 17 models by family
Widest divergence: DCF Models (110.36 TWD) versus Dividend Discount (4.15 TWD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 34 · Market factors (momentum, volatility) 38
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
ICARES Medicus, Inc., together with its subsidiaries, engages in the research, development, manufacturing, and sale of ophthalmic medical devices in Taiwan, the United States, United Kingdom, Japan, Spain, China, Germany, and internationally.
Full company description
ICARES Medicus, Inc., together with its subsidiaries, engages in the research, development, manufacturing, and sale of ophthalmic medical devices in Taiwan, the United States, United Kingdom, Japan, Spain, China, Germany, and internationally. The company is also involved in the manufacturing, sales, and service of intraocular lenses (IOLs) and its implantation systems for use in treating cataracts, myopia, farsightedness, presbyopia, or astigmatism, as well as related technical services. In addition, it offers artificial crystal products; and lubricious implantable and invasive high-end nanomedicine material. Further, the company engages in molding, mold design, and development; production of medical devices and electronic plastic products; and distribution of ophthalmic medical equipment. ICARES Medicus, Inc. was incorporated in 2011 and is based in Zhubei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
ICARES Medicus, Inc reported revenue of 1.1B TWD in FY2025 versus 394M TWD in FY2021, a compound +30.2%/yr. Reported net income was 51.2M TWD in FY2025, compounding −3.3%/yr from FY2021.
6612 screens 63% overvalued. Compare with Intuitive Surgical, Inc →
Peer Group
Medical Instruments & Supplies · 203 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.
Valuation Multiples vs Medical Instruments & Supplies median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Medical Instruments & Supplies stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Intuitive Surgical, Inc ISRG | $402.33 | $150.04 | -63% |
| EssilorLuxottica Société anonyme 1EL | €172.45 | €68.55 | -60% |
| Medline Inc MDLN | $41.11 | $30.15 | -27% |
| Becton, Dickinson and Company BDX | $150.65 | $103.53 | -31% |
| Alcon Inc ALC | $70.26 | $39.78 | -43% |
| ResMed Inc RMD | $203.87 | $187.89 | -8% |
| West Pharmaceutical Services, Inc WST | $353.71 | $143.97 | -59% |
| Straumann Holding STMN | CHF 106.00 | CHF 47.31 | -55% |
| Sartorius Stedim Biotech S.A DIM | €188.50 | €51.16 | -73% |
| Coloplast A/S COLOB | kr 414.00 | kr 382.22 | -8% |
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Frequently asked questions
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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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