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IC Plus Corp. (8040) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of IC Plus Corp. stock TWD 22.07, price TWD 62.20, that is 64.5% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Technology TW

IP IC Plus Corp. logo Thin data Nov 6, 2026

IC Plus Corp.

8040 · TWO
Very expensive, weak quality

Our calculation puts a fair price 65% below what the stock costs today.

Revenue last quarter +40% vs. a year ago.
Quality 42/100
Thin margins · 1.1% net margin (TTM)
Fair value 22.07 TWD · Strongly overvalued
Weak Growth (revenue 3y −20.2 %/yr in TWD)
Negative free cash flow
Trails peers (2/10)
Narrow moat 27/100
Thin data
⟳ Cyclical
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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

125.00 TWD 35.46 TWD Fair Value 22.07 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

60‑month range 35.46 TWD – 125.00 TWD · fair‑value band 14.56 TWD – 27.58 TWD · the 62.20 TWD price screens above the 22.07 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.

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Company profile

IC Plus Corp. engages in the research, development, manufacturing, sale, import, and export of integrated circuits in Taiwan, China, and internationally. The company offers PHY transceivers, PoE PSE controllers, media converters, and ethernet switches; and technical support and services.

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Its products are used in surveillance, industrial, smart grid, and small and medium-sized businesses application. The company was founded in 1997 and is headquartered in Hsinchu City, Taiwan.

Stock analysis

IC Plus Corp. (8040) currently trades at 62.20 TWD, while our model-based Fair Value estimate is 22.07 TWD, 65% 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 data coverage at low.

Scenario range: 14.56 TWD (bear) to 27.58 TWD (bull), the price of 62.20 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 42/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

IC Plus Corp. reported revenue of 661M TWD in FY2025 versus 1.1B TWD in FY2021, a compound −12.1%/yr. Reported net income was −58.2M TWD in FY2025.

Key figures

Market cap 6.0B TWD (≈ $183M) Micro · P/E ratio 691.1 · P/S ratio 7.88 · EPS (TTM) 0.0900 TWD · Net margin 1.1% · Return on equity 0.3% · Return on assets (EBIT) 2.1% (5-year average) · Operating margin 7.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (medium confidence).

What moves the price

The share trades about 50% below its 52-week high and 38% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at −65%, 8040 screens richer than that median.

Fair Value models

Bear 14.56 TWD Fair Value 22.07 TWD Bull 27.58 TWD
Price 62.20 TWD · Downside -64.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.0772 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. 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. Coverage ⓘCoverage = 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.
Best data coverage
NCAV (Graham) 14.56 TWD 22.07 TWD 27.58 TWD 52
All 1 models by family
Asset-Based
NCAV (Graham) 14.56 TWD 22.07 TWD 27.58 TWD 52

Open the full fair value analysis →

Quality Score breakdown

Overall quality 42/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 10
How much profit the company makes from its sales and capital
Quality Growth 71
Are margins and returns getting better?
Cashflow 12
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 20
Does it invest with discipline instead of growing at any price?
Low Volatility 30
How calm the share price moves, does not count
Price momentum 44
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 35
Distance to the 52-week high, does not count
New shares 40
Buys back shares or issues new ones?

Open the full quality analysis →

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. 20/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+2.7%
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.
−20.2%
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.
8.9% (2021) → −13.3% (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

8040 screens overvalued: fair value 65% 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 · 369 stocks

Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside −64.5% · Below median
Profitability
Return on equity (12 months) 0.3% · Below median
Return on assets −2.3% · Bottom 25%
Net margin (12 months) 1.1% · Below median
Operating margin (12 months) 7.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) 39.5% · Above median

Valuation Multiplesvs Semiconductors median · lower = cheaper

P/E (12 months) 691.1× · Priciest 25%
P/B 2.45× · Cheaper than median
P/S (12 months) 7.88× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 100
PAST (return on equity)1 · sector 28
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 21

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 Compare
SK hynix Inc 000660 1,132,000 KRW 1,501,896 KRW +33% vs 8040
Taiwan Semiconductor Manufacturing Company TSM $375.44 $412.98 +10% vs 8040
NVIDIA Corporation NVDA $186.64 $198.56 +6% vs 8040
Broadcom Inc AVGO $293.69 $300.84 +2% vs 8040
Intel Corporation INTC $56.28 $52.14 −7% vs 8040
Micron Technology, Inc MU $690.00 $619.48 −10% vs 8040
Analog Devices, Inc ADI $363.56 $262.04 −28% vs 8040
Marvell Technology, Inc MRVL $141.20 $87.64 −38% vs 8040
Advanced Micro Devices, Inc AMD $449.04 $148.02 −67% vs 8040
Texas Instruments Incorporated TXN $277.36 $81.25 −71% vs 8040

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IC Plus Corp.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "IC Plus Corp. Fair Value". https://www.fairvalue-calculator.com/stock/8040

Frequently asked questions

Is IC Plus Corp. (8040) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 22.07 TWD versus a price of 62.20 TWD, about 65% lower (overvalued).
What is the fair value of 8040?
Our model-based fair value for IC Plus Corp. is 22.07 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 62.20 TWD.
What is the quality score of 8040?
IC Plus Corp. has a Quality Score of 42/100. 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 IC Plus Corp. (8040)?
Our model-based price target is the fair value of 22.07 TWD (as of Nov 6, 2026) from 1 valuation models. Cautious scenario 14.56 TWD, optimistic scenario 27.58 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the IC Plus Corp. stock forecast for 2026?
Our models put fair value at 22.07 TWD, about 65% lower versus a price of 62.20 TWD (overvalued). Cautious scenario 14.56 TWD, optimistic scenario 27.58 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of IC Plus Corp. (8040)?
IC Plus Corp. reported trailing-twelve-month revenue of about 761M TWD (latest available figure, as of Nov 6, 2026).
What is the intrinsic value of IC Plus Corp. (8040)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IC Plus Corp. it is 22.07 TWD per share (as of Nov 6, 2026), against a price of 62.20 TWD. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is IC Plus Corp. stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 8040 trades above its calculated fair value: price 62.20 TWD, fair value 22.07 TWD, a gap of about −65% (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 8040?
No. The price is what the market pays today (62.20 TWD); the fair value is what the company's own numbers justify (22.07 TWD). For IC Plus Corp. the two are 40.13 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is IC Plus Corp. worth?
The market values IC Plus Corp. at about 6.0B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 62.20 TWD; our models calculate a fair value of 22.07 TWD per share.
What do the bullish and bearish scenarios say about 8040?
Our models span a range for IC Plus Corp.: cautious scenario 14.56 TWD, base 22.07 TWD, optimistic 27.58 TWD per share (as of Nov 6, 2026, price 62.20 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of IC Plus Corp. (8040)?
Balance-sheet figures for IC Plus Corp. (as of Nov 6, 2026): return on equity 0.3%. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 8040 from its 52-week high?
IC Plus Corp. trades at 62.20 TWD, about 50% below its 52-week high of 125.00 TWD and 38% above the low of 45.20 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 22.07 TWD is for.
Which stocks are comparable to IC Plus Corp.?
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 IC Plus Corp. stock attractive at the current price?
The data as of Nov 6, 2026: price 62.20 TWD, calculated fair value 22.07 TWD (−65%), Quality Score 42/100, 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 8040 calculated?
We run IC Plus Corp. through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 22.07 TWD builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. IC Plus 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 IC Plus Corp. (8040)?
The closing price on Nov 6, 2026 was 62.20 TWD. Our model-based fair value is 22.07 TWD, about 65% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IC Plus Corp. right now?
The price sits above even our optimistic bull case (27.58 TWD). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (14.56 TWD to 27.58 TWD) leaves room in how you read the outcome.

Key figures of IC Plus Corp.

How large is the market capitalisation of IC Plus Corp. (8040)?
The market capitalisation of IC Plus Corp. is 6.0B TWD (≈ $183M). 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/E ratio of IC Plus Corp. (8040)?
The price-to-earnings ratio of IC Plus Corp. is 691.1. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of IC Plus Corp. (8040)?
The price-to-sales ratio of IC Plus Corp. is 7.88 (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 IC Plus Corp. (8040)?
Earnings per share at IC Plus Corp. are 0.0900 TWD (price ÷ EPS = P/E 691.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of IC Plus Corp. (8040)?
The net margin of IC Plus Corp. is 1.1% (last twelve months). 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 IC Plus Corp. (8040)?
The return on equity (ROE) of IC Plus Corp. is 0.3% (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 IC Plus Corp. (8040)?
On an EBIT basis the return on assets of IC Plus Corp. is 2.1% (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 IC Plus Corp. (8040)?
The operating margin of IC Plus Corp. is 7.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IC Plus Corp. (8040)?
Revenue at IC Plus Corp. is growing +39.5% versus a year earlier (3y avg −20.2%). 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 IC Plus Corp. (8040) generate?
The free cash flow of IC Plus Corp. is −22.0M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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