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iSTART-TEK INC. (6786) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of iSTART-TEK INC. TWD 6.03, price TWD 55.00, upside -89.0%, quality 48 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 TW0006786007

IT Thin data Sep 24, 2026

iSTART-TEK INC.

6786 · TWO

Weakest SetupStrongly overvalued and low quality.

!Fair value 6.03 TWD · Strongly overvalued (−89.0%)
!Quality 48/100
!Expensive Growth (revenue 5y +21.3 %/yr)
!Loss-making · -50.8% net margin (TTM)
!negative free cash flow
!Trails peers (3/9)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
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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

138.00 TWD 38.74 TWD Fair Value 6.03 TWD Dec 2025 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.

How to read this chart

10‑month range 38.74 TWD – 138.00 TWD · fair‑value band 3.98 TWD – 7.54 TWD · the 55.00 TWD price screens above the 6.03 TWD fair value. As of Sep 24, 2026.

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Company profile

iSTART-TEK INC. provides memory testing and repair solutions worldwide.

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iSTART-TEK INC. provides memory testing and repair solutions worldwide. The company offers EZ-BIST v2, a EDA tool for memory testing algorithms; START, a memory testing and repair circuit development environment; EZ-NBIST, a testing and repairing platform; MBIST Algorithm Recommendation Tool, an AI-driven algorithm analysis system; User-Defined Algorithms, a platform that enables users to define basic testing elements; EZ-TEC that allow users to reconstruct the architecture of any memory testing algorithm through element reorganization; EZ-Safety for automotive electronic chips; EZ-Monitor for ensuring the memory lifecycle within the chip; and eFlash BIST IP for realizing all eFlash testing items. It also provides turnkey, front-end, and back-end services. In addition, the company offers iSTART-Cloud, a cloud-based platform that provides access to EZ-BIST. iSTART-TEK INC. was founded in 2009 and is headquartered in Zhubei City, Taiwan.

Stock analysis

iSTART-TEK INC. (6786) currently trades at 55.00 TWD, while our model-based Fair Value estimate is 6.03 TWD, 89.0% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: 3.98 TWD (bear) to 7.54 TWD (bull), the price of 55.00 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 48/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

iSTART-TEK INC. reported revenue of 105M TWD in FY2025 versus 10.2M TWD in FY2021, a compound +79.3%/yr. Reported net income was −53.3M TWD in FY2025.

Key figures

Market cap 1.6B TWD (≈ $49.0M) · P/S ratio 15.4 · EPS (TTM) −2.02 TWD · Net margin −50.8% · Return on equity −24.5% · Return on assets (EBIT) −22.5% · Operating margin −29.6% · Revenue (TTM) 105M TWD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

For context, the median of 10 Technology peers we cover trades at −41% fair-value upside, at −89%, 6786 screens richer than that median.

Fair Value models

Bear 3.98 TWD Fair Value 6.03 TWD Bull 7.54 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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) 4.04 TWD 5.42 TWD 8.09 TWD 51
All 1 models by family
Asset-Based
NCAV (Graham) 4.04 TWD 5.42 TWD 8.09 TWD 51

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Quality Score breakdown

Overall quality 48/100

Of which business quality 50 · Market factors (momentum, volatility) 29

Profitability 17
Margins and returns on capital today
Quality Growth 88
Are margins and returns improving?
Cashflow 20
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 12
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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+332.8%
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.
+63.0%
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.
+21.3%
Start year 2020 (pandemic)
Revenue growth 6 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.
+45.3%
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.
−28.8% (2020) → −49.6% (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

6786 screens overvalued: fair value 89% below the price. 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 · 329 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside −89.0% · Bottom 25%
Profitability
Return on assets −12.9% · Bottom 25%
Net margin (TTM) −50.8% · Bottom 25%
Operating margin (TTM) −29.6% · Bottom 25%
Growth and dividend
Revenue growth 268.7% · Top 25%

Valuation Multiplesvs Semiconductors median · lower = cheaper

P/B 0.20× · Cheapest 25%
P/S (TTM) 0.47× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 86
PAST (return on equity)0 · sector 29
HEALTH (low debt)0 · sector 95
DIVIDEND (yield)0 · sector 19

VALUE 0: the price sits above our fair-value range.

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 $228.38 $198.56 −13%
Taiwan Semiconductor Manufacturing Company TSM $459.20 $505.12 +10%
Broadcom Inc AVGO $351.19 $303.10 −14%
Micron Technology, Inc MU $1,054 $151.51 −86%
Advanced Micro Devices, Inc AMD $611.76 $122.60 −80%
SK hynix Inc 000660 1,833,000 KRW 2,016,300 KRW +10%
Intel Corporation INTC $115.93 $33.67 −71%
Arm Holdings ARM $310.32 $44.44 −86%
MediaTek Inc 2454 5,285 TWD 3,142 TWD −41%
Texas Instruments Incorporated TXN $280.09 $81.75 −71%

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iSTART-TEK INC. · Fair Value
6.03 TWD −89%Fair Value
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Cite: Fair Value Calculator (2026). "iSTART-TEK INC. Fair Value". https://www.fairvalue-calculator.com/stock/6786

Frequently asked questions

Is iSTART-TEK INC. (6786) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 6.03 TWD versus a price of 55.00 TWD, about −89% upside (overvalued).
What is the fair value of 6786?
Our model-based fair value for iSTART-TEK INC. is 6.03 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 55.00 TWD.
What is the quality score of 6786?
iSTART-TEK INC. has a Quality Score of 48/100. 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 iSTART-TEK INC. (6786)?
Our model-based price target is the fair value of 6.03 TWD (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 3.98 TWD, optimistic scenario 7.54 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the iSTART-TEK INC. stock forecast for 2026?
Our models put fair value at 6.03 TWD, about −89% upside versus a price of 55.00 TWD (overvalued). Cautious scenario 3.98 TWD, optimistic scenario 7.54 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of iSTART-TEK INC. (6786)?
iSTART-TEK INC. reported trailing-twelve-month revenue of about 105M TWD (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of iSTART-TEK INC. (6786)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For iSTART-TEK INC. it is 6.03 TWD per share (as of Sep 24, 2026), against a price of 55.00 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is iSTART-TEK INC. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6786 trades above its calculated fair value: price 55.00 TWD, fair value 6.03 TWD, a gap of about −89% (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 6786?
No. The price is what the market pays today (55.00 TWD); the fair value is what the company's own numbers justify (6.03 TWD). For iSTART-TEK INC. the two are 48.97 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is iSTART-TEK INC. worth?
The market values iSTART-TEK INC. at about 1.6B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 55.00 TWD; our models calculate a fair value of 6.03 TWD per share.
What do the bullish and bearish scenarios say about 6786?
Our models span a range for iSTART-TEK INC.: cautious scenario 3.98 TWD, base 6.03 TWD, optimistic 7.54 TWD per share (as of Sep 24, 2026, price 55.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of iSTART-TEK INC. (6786)?
Balance-sheet figures for iSTART-TEK INC. (as of Sep 24, 2026): return on equity −24.5%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
Which stocks are comparable to iSTART-TEK INC.?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, 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 iSTART-TEK INC. stock attractive at the current price?
The data as of Sep 24, 2026: price 55.00 TWD, calculated fair value 6.03 TWD (−89%), Quality Score 48/100, 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 6786 calculated?
We run iSTART-TEK INC. 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 6.03 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 14.5 % above its aggregate fair value. iSTART-TEK 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 iSTART-TEK INC. (6786)?
The closing price on Oct 2, 2026 was 55.00 TWD. Our model-based fair value is 6.03 TWD, about −89% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with iSTART-TEK INC. right now?
The price sits above even our optimistic bull case (7.54 TWD). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (3.98 TWD to 7.54 TWD) leaves room in how you read the outcome.

Key figures of iSTART-TEK INC.

How large is the market capitalisation of iSTART-TEK INC. (6786)?
The market capitalisation of iSTART-TEK INC. is 1.6B TWD (≈ $49.0M). 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 iSTART-TEK INC. (6786)?
The price-to-sales ratio of iSTART-TEK INC. is 15.4 (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 iSTART-TEK INC. (6786)?
Earnings per share at iSTART-TEK INC. are −2.02 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of iSTART-TEK INC. (6786)?
The net margin of iSTART-TEK INC. is −50.8% (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 iSTART-TEK INC. (6786)?
The return on equity (ROE) of iSTART-TEK INC. is −24.5% (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 iSTART-TEK INC. (6786)?
On an EBIT basis the return on assets of iSTART-TEK INC. is −22.5% (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 iSTART-TEK INC. (6786)?
The operating margin of iSTART-TEK INC. is −29.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at iSTART-TEK INC. (6786)?
Revenue at iSTART-TEK INC. is growing +269% versus a year earlier (3y avg +63.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does iSTART-TEK INC. (6786) generate?
The free cash flow of iSTART-TEK INC. is −88.9M 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 cash does iSTART-TEK INC. (6786) hold?
iSTART-TEK INC. holds more cash than debt, 45.9M TWD net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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