Intchains Group Limited (ICG) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Intchains Group Limited stock $2.77, price $1.44, upside +92.4%, quality 48 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
44‑month range $0.6300 – $13.70 · fair‑value band $1.83 – $3.46 · the $1.44 price screens below the $2.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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Intchains Group Limited engages in the provision of altcoin mining products in the People's Republic of China. The company focuses on designing and sales of application-specific integrated circuit chips for blockchain applications.
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It also provides Xihe Platform, which integrates self-developed blockchain proof-of-work algorithms and related cryptographic algorithms, as well as systematic data analysis process. In addition, the company offers ancillary software, hardware, and other products. It serves distributors.
Intchains Group Limited was founded in 2017 and is based in Pudong, China.
Stock analysis
Intchains Group Limited (ICG) currently trades at $1.44, while our model-based Fair Value estimate is $2.77, implying the stock looks roughly 48% undervalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $1.83 (bear) to $3.46 (bull), the price of $1.44 sits below 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.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Intchains Group Limited American Depositary Shares reported revenue of 215M CNY in FY2025 versus 632M CNY in FY2021, a compound −23.6%/yr. Reported net income was −50.6M CNY in FY2025.
Key figures
Market cap $82.6M Micro · P/S ratio 1.46 · EPS (TTM) $−0.4700 · Net margin −23.6% · Return on equity −21.6% · Return on assets (EBIT) 18.1% (5-year average) · Operating margin −476% · Revenue growth (YoY) −87.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (medium confidence).
What moves the price
The share trades about 34% below its 52-week high and 129% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −16% fair-value upside, at 92%, ICG screens cheaper than that median.
Fair Value models
Bear$1.83Fair Value $2.77Bull$3.46
Price $1.44 · Upside +92.4%
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.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.
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.30/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−23.8%
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.
−23.2%
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.
+31.5%
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.
+34.8%
’19
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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.
14.7% (2020) → −47.4% (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
News mood ⓘNews mood, the average tone of recent news (75 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Compare Intchains Group Limited American Depositary Shares 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.Computer Hardware · 231 stocks
Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside+92.4% · Top 25%
Profitability
Return on assets−5.0% · Bottom 25%
Net margin (12 months)−23.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−87.1% · Bottom 25%
Valuation Multiplesvs Computer Hardware median · lower = cheaper
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). "Intchains Group Limited American Depositary Shares Fair Value". https://www.fairvalue-calculator.com/stock/ICG
Frequently asked questions
Is Intchains Group Limited (ICG) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of $2.77 versus a price of $1.44, about +92% upside (undervalued).
What is the fair value of ICG?
Our model-based fair value for Intchains Group Limited is $2.77 (as of Nov 10, 2026), built from audited fundamentals. The current price: $1.44.
What is the quality score of ICG?
Intchains Group Limited 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 Intchains Group Limited (ICG)?
Our model-based price target is the fair value of $2.77 (as of Nov 10, 2026) from 1 valuation models. Cautious scenario $1.83, optimistic scenario $3.46. It is a calculation from audited fundamentals, not an analyst target.
What is the Intchains Group Limited American Depositary Shares stock forecast for 2026?
Our models put fair value at $2.77, about +92% upside versus a price of $1.44 (undervalued). Cautious scenario $1.83, optimistic scenario $3.46. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Intchains Group Limited (ICG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Intchains Group Limited it is $2.77 per share (as of Nov 10, 2026), against a price of $1.44. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Intchains Group Limited American Depositary Shares stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ICG trades below its calculated fair value: price $1.44, fair value $2.77, a gap of about +92% (undervalued). 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 ICG?
No. The price is what the market pays today ($1.44); the fair value is what the company's own numbers justify ($2.77). For Intchains Group Limited the two are $1.33 per share apart. That gap is exactly why we show both numbers side by side.
How much is Intchains Group Limited American Depositary Shares worth?
The market values Intchains Group Limited at about $82.6M (market capitalisation, as of Nov 10, 2026). Per share that is $1.44; our models calculate a fair value of $2.77 per share.
What do the bullish and bearish scenarios say about ICG?
Our models span a range for Intchains Group Limited: cautious scenario $1.83, base $2.77, optimistic $3.46 per share (as of Nov 10, 2026, price $1.44). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Intchains Group Limited (ICG)?
Balance-sheet figures for Intchains Group Limited (as of Nov 10, 2026): return on equity −21.6%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is ICG from its 52-week high?
Intchains Group Limited trades at $1.44, about 34% below its 52-week high of $2.17 and 129% above the low of $0.6300 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of $2.77 is for.
Which stocks are comparable to Intchains Group Limited American Depositary Shares?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Sandisk Corporation, Seagate Technology Holdings, 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 Intchains Group Limited American Depositary Shares stock attractive at the current price?
The data as of Nov 10, 2026: price $1.44, calculated fair value $2.77 (+92%), 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 ICG calculated?
We run Intchains Group Limited through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $2.77 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 14.3% above its aggregate fair value. Intchains Group Limited currently trades 48% below its own fair value, and the market average says nothing about that. 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 Intchains Group Limited (ICG)?
The closing price on Nov 12, 2026 was $1.44. Our model-based fair value is $2.77, about +92% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Intchains Group Limited American Depositary Shares right now?
The large discount to fair value meets weak quality (48/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($1.83). The market is more pessimistic than our downside scenario. 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 ($1.83 to $3.46) leaves room in how you read the outcome.
Key figures of Intchains Group Limited
How large is the market capitalisation of Intchains Group Limited (ICG)?
The market capitalisation of Intchains Group Limited is $82.6M. 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 Intchains Group Limited (ICG)?
The price-to-sales ratio of Intchains Group Limited is 1.46 (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 Intchains Group Limited (ICG)?
Earnings per share at Intchains Group Limited are $−0.4700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Intchains Group Limited (ICG)?
The net margin of Intchains Group Limited is −23.6% (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 Intchains Group Limited (ICG)?
The return on equity (ROE) of Intchains Group Limited is −21.6% (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 Intchains Group Limited (ICG)?
On an EBIT basis the return on assets of Intchains Group Limited is 18.1% (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 Intchains Group Limited (ICG)?
The operating margin of Intchains Group Limited is −476% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Intchains Group Limited (ICG)?
Revenue at Intchains Group Limited is growing −87.1% versus a year earlier (3y avg −23.2%). 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 Intchains Group Limited (ICG)?
Earnings per share at Intchains Group Limited are growing +22.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Intchains Group Limited (ICG) generate?
The free cash flow of Intchains Group Limited is −97.6M CNY (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 Intchains Group Limited (ICG) hold?
Intchains Group Limited holds more cash than debt, 225M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 10, 2026