Icares Medicus Inc (6612) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Icares Medicus Inc TWD 21.72, price TWD 71.90, upside -69.8%, quality 33 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Icares Medicus Inc for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
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.
Show more
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.
Stock analysis
Icares Medicus Inc (6612) currently trades at 71.90 TWD, while our model-based Fair Value estimate is 21.72 TWD, implying the stock looks roughly 231.0% overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of 75.15 TWD per share, and 2 of the 17 models we run sit above the 71.90 TWD price.
Bear case: the Dividend Discount group reads lowest at 2.76 TWD, and 15 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: 20.88 TWD (bear) to 27.14 TWD (bull), the price of 71.90 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 33/100 (below-average quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
Key figures
Market cap 3.4B TWD (≈ $108M) · P/E ratio 39.9 · P/S ratio 1.81 · EPS (TTM) 1.80 TWD · Dividend yield 0.4% · Net margin 4.5% · Return on equity 1.6% · Return on assets (EBIT) 7.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −13% fair-value upside, at −70%, 6612 screens richer than that median.
Fair Value models
Bear 20.88 TWDFair Value 21.72 TWDBull 27.14 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.10 TWD per share) are deliberately not added.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.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+31.5%
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.
+30.2%
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.
+25.5%
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.
+19.8%
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in TWD ⓘ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 5 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. Basis: EBIT basis. 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.
+4.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.7%
Dividend (yield on the price)0.4%
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.20% → 11%
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Medical Instruments & Supplies · 204 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score33 · Bottom 25%
Fair Value upside−70% · Bottom 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets2% · Below median
Net margin (TTM)8% · Above median
Operating margin (TTM)10% · Below median
Growth and dividend
Revenue growth29% · Top 25%
Dividend yield (TTM)0.4% · Bottom 25%
Balance sheet
Debt / equity0.06× · Below median
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/E (TTM)39.9× · Pricier than median
P/B1.86× · Cheaper than median
P/S (TTM)2.82× · Pricier than median
EV/EBITDA13.0× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 14
FUTURE (revenue growth)100· sector 31
PAST (return on equity)7· sector 25
HEALTH (low debt)97· sector 96
DIVIDEND (yield)8· sector 33
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). "Icares Medicus Inc Fair Value". https://www.fairvalue-calculator.com/stock/6612
Frequently asked questions
Is Icares Medicus Inc (6612) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 21.72 TWD versus a price of 71.90 TWD, about −70% upside (overvalued).
What is the fair value of 6612?
Our model-based fair value for Icares Medicus Inc is 21.72 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 71.90 TWD.
What is the quality score of 6612?
Icares Medicus Inc has a Quality Score of 33/100. 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 Icares Medicus Inc (6612)?
Our model-based price target is the fair value of 21.72 TWD (as of Sep 24, 2026) from 17 valuation models. Cautious scenario 20.88 TWD, optimistic scenario 27.14 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Icares Medicus Inc stock forecast for 2026?
Our models put fair value at 21.72 TWD, about −70% upside versus a price of 71.90 TWD (overvalued). Cautious scenario 20.88 TWD, optimistic scenario 27.14 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Icares Medicus Inc (6612)?
Icares Medicus Inc reported trailing-twelve-month revenue of about 1.2B TWD (latest available figure, as of Sep 24, 2026).
Does Icares Medicus Inc pay a dividend?
Icares Medicus Inc currently shows a dividend yield of about 0.42% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Icares Medicus Inc (6612)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Icares Medicus Inc it is 21.72 TWD per share (as of Sep 24, 2026), against a price of 71.90 TWD. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Icares Medicus Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6612 trades above its calculated fair value: price 71.90 TWD, fair value 21.72 TWD, a gap of about −70% (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 6612?
No. The price is what the market pays today (71.90 TWD); the fair value is what the company's own numbers justify (21.72 TWD). For Icares Medicus Inc the two are 50.18 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Icares Medicus Inc worth?
The market values Icares Medicus Inc at about 3.4B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 71.90 TWD; our models calculate a fair value of 21.72 TWD per share.
What do the bullish and bearish scenarios say about 6612?
Our models span a range for Icares Medicus Inc: cautious scenario 20.88 TWD, base 21.72 TWD, optimistic 27.14 TWD per share (as of Sep 24, 2026, price 71.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6612?
Icares Medicus Inc trades at a price-to-earnings ratio of 39.9 (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 21.72 TWD is built from several models across several years. Other multiples: P/B 1.9, P/S 2.8, EV/EBITDA 13.0.
How solid is the balance sheet of Icares Medicus Inc (6612)?
Balance-sheet figures for Icares Medicus Inc (as of Sep 24, 2026): return on equity 1.6%, debt of 0.06 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is 6612 from its 52-week high?
Icares Medicus Inc trades at 71.90 TWD, about 25% below its 52-week high of 95.50 TWD and 9% above the low of 66.11 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 21.72 TWD is for.
Which stocks are comparable to Icares Medicus Inc?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Medline Inc, Becton, Dickinson and Company, 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 Icares Medicus Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 71.90 TWD, calculated fair value 21.72 TWD (−70%), Quality Score 33/100, from 17 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 6612 calculated?
We run Icares Medicus Inc through 17 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 21.72 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 14.0 % above its aggregate fair value. Icares Medicus 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 Icares Medicus Inc (6612)?
The closing price on Sep 24, 2026 was 71.90 TWD. Our model-based fair value is 21.72 TWD, about −70% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Icares Medicus Inc right now?
The price sits above even our optimistic bull case (27.14 TWD). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of Icares Medicus Inc
How large is the market capitalisation of Icares Medicus Inc (6612)?
The market capitalisation of Icares Medicus Inc is 3.4B TWD (≈ $108M). 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 Icares Medicus Inc (6612)?
The price-to-sales ratio of Icares Medicus Inc is 1.81 (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 Icares Medicus Inc (6612)?
Earnings per share at Icares Medicus Inc are 1.80 TWD (price ÷ EPS = P/E 39.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Icares Medicus Inc (6612)?
The dividend yield of Icares Medicus Inc is 0.4% (payout 16.7%). 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 Icares Medicus Inc (6612)?
The net margin of Icares Medicus Inc is 4.5% (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 Icares Medicus Inc (6612)?
The return on equity (ROE) of Icares Medicus Inc is 1.6% (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 Icares Medicus Inc (6612)?
On an EBIT basis the return on assets of Icares Medicus Inc is 7.4% (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 Icares Medicus Inc (6612)?
The operating margin of Icares Medicus Inc is 10.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Icares Medicus Inc (6612)?
Revenue at Icares Medicus Inc is growing +29.1% versus a year earlier (3y avg +30.2%). 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 Icares Medicus Inc (6612)?
Earnings per share at Icares Medicus Inc are growing −20.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Icares Medicus Inc (6612) generate?
The free cash flow of Icares Medicus Inc is −112M 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 Icares Medicus Inc (6612) carry?
The net debt of Icares Medicus Inc is 262M 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.
Free · no account needed
Watch Icares Medicus Inc in the live analysis
One click puts Icares Medicus Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
