Innocare Optoelectronics Corp. (6861) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Innocare Optoelectronics Corp. TWD 176, price TWD 280, upside -37.2%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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InnoCare Optoelectronics Corporation engages in the design, development, manufacture, and sale of optical instruments and medical devices. It also offers X-ray flat panel detectors sensors for healthcare, veterinary, security, and industrial applications in Taiwan and internationally.
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InnoCare Optoelectronics Corporation engages in the design, development, manufacture, and sale of optical instruments and medical devices. It also offers X-ray flat panel detectors sensors for healthcare, veterinary, security, and industrial applications in Taiwan and internationally. It offers thin film transistors and scintillators, and other medical products, as well as accessories, including power and ethernet cables, charger sets, and batteries. InnoCare Optoelectronics Corporation was founded in 2019 and is headquartered in Tainan City, Taiwan.
Stock analysis
Innocare Optoelectronics Corp. (6861) currently trades at 279.50 TWD, while our model-based Fair Value estimate is 175.52 TWD, implying the stock looks roughly 59.2% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 109.74 TWD per share, and 0 of the 26 models we run sit above the 279.50 TWD price.
Bear case: the Dividend Discount group reads lowest at 19.89 TWD, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 124.32 TWD (bear) to 230.40 TWD (bull), the price of 279.50 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 63/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Innocare Optoelectronics Corp. reported revenue of 2.3B TWD in FY2025 versus 1.9B TWD in FY2021, a compound +4.3%/yr. Reported net income was 160M TWD in FY2025, compounding −5.3%/yr from FY2021.
Key figures
Market cap 11.6B TWD (≈ $365M) · P/E ratio 73.7 · P/S ratio 5.13 · EPS (TTM) 3.79 TWD · Dividend yield 0.7% · Net margin 7.0% · Return on equity 13.7% · Return on assets (EBIT) 6.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 401% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 5% fair-value upside, at −37%, 6861 screens richer than that median.
Fair Value models
Bear 124.32 TWDFair Value 175.52 TWDBull 230.40 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 (1.31 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+15.3%
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.
+6.7%
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.
−0.4%
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.
+32.1%
’19
’20
’21
’22
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’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. 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.
−5.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.0%
Dividend (yield on the price)0.7%
Profit margin 2019 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% → 6%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+40.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +38.3% a year for the price.
Compare Innocare Optoelectronics Corp. with another stock
Price, fair value, quality and upside side by side.
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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.Medical Devices · 365 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−37% · Below median
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets5% · Above median
Net margin (TTM)8% · Above median
Operating margin (TTM)11% · Above median
Growth and dividend
Revenue growth47% · Top 25%
Dividend yield (TTM)0.7% · Bottom 25%
Valuation Multiplesvs Medical Devices median · lower = cheaper
P/E (TTM)73.7× · Priciest 25%
P/B7.98× · Priciest 25%
P/S (TTM)4.56× · Pricier than median
P/FCF1.5× · Cheapest 25%
EV/EBITDA41.4× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 10
FUTURE (revenue growth)100· sector 31
PAST (return on equity)55· sector 7
HEALTH (low debt)0· sector 97
DIVIDEND (yield)14· sector 40
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.
Is Innocare Optoelectronics Corp. (6861) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 175.52 TWD versus a price of 279.50 TWD, about −37% upside (overvalued).
What is the fair value of 6861?
Our model-based fair value for Innocare Optoelectronics Corp. is 175.52 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 279.50 TWD.
What is the quality score of 6861?
Innocare Optoelectronics Corp. has a Quality Score of 63/100. 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 Innocare Optoelectronics Corp. (6861)?
Our model-based price target is the fair value of 175.52 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 124.32 TWD, optimistic scenario 230.40 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Innocare Optoelectronics Corp. stock forecast for 2026?
Our models put fair value at 175.52 TWD, about −37% upside versus a price of 279.50 TWD (overvalued). Cautious scenario 124.32 TWD, optimistic scenario 230.40 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Innocare Optoelectronics Corp. (6861)?
Innocare Optoelectronics Corp. reported trailing-twelve-month revenue of about 2.5B TWD (latest available figure, as of Sep 24, 2026).
Does Innocare Optoelectronics Corp. pay a dividend?
Innocare Optoelectronics Corp. currently shows a dividend yield of about 0.72% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Innocare Optoelectronics Corp. (6861)?
For today's price to be fair in a discounted-cash-flow model, Innocare Optoelectronics Corp. would have to grow free cash flow by +40.4 % per year for five years (discount rate 15.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6861 use?
Our models discount Innocare Optoelectronics Corp. at 15.8 %: a base by market capitalisation (micro), damped by beta 2.23, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Innocare Optoelectronics Corp. that is +40.4 % per year a year over ten years, using the same discount rate (15.8 %) and the same formula as our fair value.
How much growth has Innocare Optoelectronics Corp. (6861) delivered so far?
Over the past 5 years revenue at Innocare Optoelectronics Corp. grew -0.4 % a year. The price currently implies +40.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Innocare Optoelectronics Corp. (6861) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into Innocare Optoelectronics Corp. (+40.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Innocare Optoelectronics Corp. (6861)?
The free-cash-flow yield on the price is 2.07 %: that much free cash flow Innocare Optoelectronics Corp. produces per unit of market value. When it exceeds the discount rate of our models (15.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Innocare Optoelectronics Corp. (6861)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Innocare Optoelectronics Corp. it is 175.52 TWD per share (as of Sep 24, 2026), against a price of 279.50 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Innocare Optoelectronics Corp. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6861 trades above its calculated fair value: price 279.50 TWD, fair value 175.52 TWD, a gap of about −37% (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 6861?
No. The price is what the market pays today (279.50 TWD); the fair value is what the company's own numbers justify (175.52 TWD). For Innocare Optoelectronics Corp. the two are 103.98 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Innocare Optoelectronics Corp. worth?
The market values Innocare Optoelectronics Corp. at about 11.6B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 279.50 TWD; our models calculate a fair value of 175.52 TWD per share.
What do the bullish and bearish scenarios say about 6861?
Our models span a range for Innocare Optoelectronics Corp.: cautious scenario 124.32 TWD, base 175.52 TWD, optimistic 230.40 TWD per share (as of Sep 24, 2026, price 279.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6861?
Innocare Optoelectronics Corp. trades at a price-to-earnings ratio of 73.7 (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 175.52 TWD is built from several models across several years. Other multiples: P/B 8.0, P/S 4.6, EV/EBITDA 41.4.
How solid is the balance sheet of Innocare Optoelectronics Corp. (6861)?
Balance-sheet figures for Innocare Optoelectronics Corp. (as of Sep 24, 2026): return on equity 13.7%. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 6861 from its 52-week high?
Innocare Optoelectronics Corp. trades at 279.50 TWD, about 39% below its 52-week high of 458.96 TWD and 401% above the low of 55.83 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 175.52 TWD is for.
Which stocks are comparable to Innocare Optoelectronics Corp.?
From the same area (Healthcare) we also value Abbott Laboratories,, Stryker Corporation, Medtronic plc, Boston Scientific Corporation, 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 Innocare Optoelectronics Corp. stock attractive at the current price?
The data as of Sep 24, 2026: price 279.50 TWD, calculated fair value 175.52 TWD (−37%), Quality Score 63/100, from 26 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 6861 calculated?
We run Innocare Optoelectronics Corp. through 26 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 175.52 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. Innocare Optoelectronics Corp. 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 Innocare Optoelectronics Corp. (6861)?
The closing price on Sep 24, 2026 was 279.50 TWD. Our model-based fair value is 175.52 TWD, about −37% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Innocare Optoelectronics Corp. right now?
The price sits above even our optimistic bull case (230.40 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (124.32 TWD to 230.40 TWD) leaves room in how you read the outcome.
Key figures of Innocare Optoelectronics Corp.
How large is the market capitalisation of Innocare Optoelectronics Corp. (6861)?
The market capitalisation of Innocare Optoelectronics Corp. is 11.6B TWD (≈ $365M). 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 Innocare Optoelectronics Corp. (6861)?
The price-to-sales ratio of Innocare Optoelectronics Corp. is 5.13 (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 Innocare Optoelectronics Corp. (6861)?
Earnings per share at Innocare Optoelectronics Corp. are 3.79 TWD (price ÷ EPS = P/E 73.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Innocare Optoelectronics Corp. (6861)?
The dividend yield of Innocare Optoelectronics Corp. is 0.7% (payout 52.8%). 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 Innocare Optoelectronics Corp. (6861)?
The net margin of Innocare Optoelectronics Corp. is 7.0% (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 Innocare Optoelectronics Corp. (6861)?
The return on equity (ROE) of Innocare Optoelectronics Corp. is 13.7% (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 Innocare Optoelectronics Corp. (6861)?
On an EBIT basis the return on assets of Innocare Optoelectronics Corp. is 6.8% (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 Innocare Optoelectronics Corp. (6861)?
The operating margin of Innocare Optoelectronics Corp. is 11.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Innocare Optoelectronics Corp. (6861)?
Revenue at Innocare Optoelectronics Corp. is growing +47.4% versus a year earlier (3y avg +6.7%). 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 Innocare Optoelectronics Corp. (6861)?
Earnings per share at Innocare Optoelectronics Corp. are growing +105% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Innocare Optoelectronics Corp. (6861) hold?
Innocare Optoelectronics Corp. holds more cash than debt, 734M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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