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IQE PLC (IQE) fair value: what the stock is really worth

As of Oct 26, 2026: fair value (intrinsic value) of IQE PLC stock £0.04, price £0.35, upside -88.5%, quality 33 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Technology · GB · ISIN GB0009619924

IP IQE PLC logo Thin data Oct 26, 2026

IQE PLC

IQE · LSE

Weakest SetupStrongly overvalued and low quality.

Our calculation puts a fair price 88% below what the stock costs today.

Low debt
Fair value £0.0400 · Strongly overvalued (−88.5%)
Quality 33/100
Weak Growth (revenue 5y −11.4 %/yr in GBP)
Loss-making · -27.2% net margin (TTM)
Negative free cash flow
Trails peers (4/11)
Narrow moat 12/100 · thin data
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

£0.6300 £0.0488 Fair Value £0.0400 Aug 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 26, 2026.

How to read this chart

60‑month range £0.0488 – £0.6300 · fair‑value band £0.0300 – £0.0500 · the £0.3475 price screens above the £0.0400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 26, 2026.

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Company profile

IQE plc, together with its subsidiaries, develops, manufactures, and sells advanced semiconductor materials.

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It operates through three segments: Wireless, Photonics, and CMOS++. The company manufactures and sells compound semiconductor materials for the wireless market which includes radio frequency devices for wireless communications, as well as for photonics market, that includes applications that transmit and sense visible and infrared lights.

It also provides advanced semiconductor materials related to silicon. The company operates in the United States, rest of the Americas, France, Germany, Israel, the United Kingdom, rest of Europe, the Middle East, Africa, the People's Republic of China, Japan, Taiwan, and rest of the Asia-Pacific.

The company was founded in 1988 and is headquartered in Cardiff, the United Kingdom.

Stock analysis

IQE PLC (IQE) currently trades at £0.3475, while our model-based Fair Value estimate is £0.0400, 88.5% 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 96/100, which puts the data coverage at low.

Scenario range: £0.0300 (bear) to £0.0500 (bull), the price of £0.3475 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 Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

IQE PLC reported revenue of £97.3M in FY2025 versus £154M in FY2021, a compound −10.9%/yr. Reported net income was −£36.7M in FY2025.

Key figures

Market cap £463M Small · P/S ratio 6.26 · EPS (TTM) £−0.0300 · Net margin −27.2% · Return on equity −25.0% · Return on assets (EBIT) −8.2% · Operating margin −9.2% · Revenue (TTM) £117M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (low confidence).

What moves the price

The share trades about 45% below its 52-week high and 612% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at −88%, IQE screens richer than that median.

Fair Value models

Bear £0.0300 Fair Value £0.0400 Bull £0.0500
Price £0.3475 · Upside -88.5%
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. 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) £0.0300 £0.0400 £0.0500 55
All 1 models by family
Asset-Based
NCAV (Graham) £0.0300 £0.0400 £0.0500 55

Open the full fair value analysis →

Quality Score breakdown

Overall quality 33/100

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

Profitability 5
How much profit the company makes from its sales and capital
Quality Growth 34
Are margins and returns getting better?
Cashflow 9
Do the profits arrive as real cash?
Financial strength 60
Debt, balance sheet and risk of trouble
Investment 88
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Momentum 51
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 76
Distance to the 52-week high, does not count
New shares 25
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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−17.6%
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.
−16.6%
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.
−11.4%
Start year 2020 (pandemic). Over 10 years: −1.6% a year
Revenue growth 27 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.
+7.0%
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.
−3.1% (2020) → −25.4% (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
not computed

IQE screens overvalued: fair value 88% below the price. Compare with ASML Holding →

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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.Semiconductor Equipment & Materials · 231 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 33 · Bottom 25%
Fair Value upside −88.5% · Bottom 25%
Profitability
Return on assets −17.2% · Bottom 25%
Net margin (12 months) −27.2% · Bottom 25%
Operating margin (12 months) −9.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 42.7% · Top 25%

Valuation Multiplesvs Semiconductor Equipment & Materials median · lower = cheaper

P/B 5.16× · Pricier than median
P/S (12 months) 3.97× · Cheaper than median
PEG 0.45× · 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 100
PAST (return on equity)0 · sector 38
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 17

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Lam Research Corporation LRCX $230.15 $250.92 +9% vs IQE
KLA Corporation KLAC $145.61 $157.54 +8% vs IQE
Applied Materials, Inc AMAT $375.58 $368.90 −2% vs IQE
Hon. Precision, Inc 7769 5,130 TWD 4,864 TWD −5% vs IQE
ASML Holding ASML €1,430 €1,345 −6% vs IQE
Qnity Electronics, Inc Q $109.83 $70.48 −36% vs IQE
Piotech Inc 688072 ¥533.00 ¥320.60 −40% vs IQE
Advanced Micro-Fabrication Equipment Inc 688012 ¥274.00 ¥123.44 −55% vs IQE
Hangzhou Changchuan Technology Co 300604 ¥202.00 ¥45.46 −77% vs IQE
Teradyne, Inc TER $308.85 $66.14 −79% vs IQE

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IQE PLC · Fair Value
£0.0400 −88%Fair Value
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Cite: Fair Value Calculator (2026). "IQE PLC Fair Value". https://www.fairvalue-calculator.com/stock/IQE

Frequently asked questions

Is IQE PLC (IQE) overvalued or undervalued?
As of Oct 26, 2026, our model estimates a fair value of £0.0400 versus a price of £0.3475, about −88% upside (overvalued).
What is the fair value of IQE?
Our model-based fair value for IQE PLC is £0.0400 (as of Oct 26, 2026), built from audited fundamentals. The current price: £0.3475.
What is the quality score of IQE?
IQE PLC 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 IQE PLC (IQE)?
Our model-based price target is the fair value of £0.0400 (as of Oct 26, 2026) from 1 valuation models. Cautious scenario £0.0300, optimistic scenario £0.0500. It is a calculation from audited fundamentals, not an analyst target.
What is the IQE PLC stock forecast for 2026?
Our models put fair value at £0.0400, about −88% upside versus a price of £0.3475 (overvalued). Cautious scenario £0.0300, optimistic scenario £0.0500. The calculation is refreshed regularly with new filings.
What is the revenue of IQE PLC (IQE)?
IQE PLC reported trailing-twelve-month revenue of about £117M (latest available figure, as of Oct 26, 2026).
What is the intrinsic value of IQE PLC (IQE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IQE PLC it is £0.0400 per share (as of Oct 26, 2026), against a price of £0.3475. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is IQE PLC stock overvalued or undervalued in 2026?
As of Oct 26, 2026, IQE trades above its calculated fair value: price £0.3475, fair value £0.0400, a gap of about −88% (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 IQE?
No. The price is what the market pays today (£0.3475); the fair value is what the company's own numbers justify (£0.0400). For IQE PLC the two are £0.3075 per share apart. That gap is exactly why we show both numbers side by side.
How much is IQE PLC worth?
The market values IQE PLC at about £463M (market capitalisation, as of Oct 26, 2026). Per share that is £0.3475; our models calculate a fair value of £0.0400 per share.
What do the bullish and bearish scenarios say about IQE?
Our models span a range for IQE PLC: cautious scenario £0.0300, base £0.0400, optimistic £0.0500 per share (as of Oct 26, 2026, price £0.3475). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of IQE?
The PEG ratio of IQE PLC is 0.45 (P/E divided by earnings growth, as of Oct 26, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of IQE PLC (IQE)?
Balance-sheet figures for IQE PLC (as of Oct 26, 2026): return on equity −25.0%. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is IQE from its 52-week high?
IQE PLC trades at £0.3475, about 45% below its 52-week high of £0.6300 and 612% above the low of £0.0488 (as of Oct 26, 2026). Distance from the high says nothing about value: that is what the fair value of £0.0400 is for.
Which stocks are comparable to IQE PLC?
From the same area (Technology) we also value ASML Holding, Lam Research Corporation, Applied Materials, Inc, KLA 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 IQE PLC stock attractive at the current price?
The data as of Oct 26, 2026: price £0.3475, calculated fair value £0.0400 (−88%), Quality Score 33/100, 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 IQE calculated?
We run IQE PLC 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 £0.0400, 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 12.7 % above its aggregate fair value. IQE PLC 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 IQE PLC (IQE)?
The closing price on Oct 26, 2026 was £0.3475. Our model-based fair value is £0.0400, about −88% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IQE PLC right now?
The price sits above even our optimistic bull case (£0.0500). 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. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of IQE PLC

How large is the market capitalisation of IQE PLC (IQE)?
The market capitalisation of IQE PLC is £463M. 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 IQE PLC (IQE)?
The price-to-sales ratio of IQE PLC is 6.26 (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 IQE PLC (IQE)?
Earnings per share at IQE PLC are £−0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of IQE PLC (IQE)?
The net margin of IQE PLC is −27.2% (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 IQE PLC (IQE)?
The return on equity (ROE) of IQE PLC is −25.0% (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 IQE PLC (IQE)?
On an EBIT basis the return on assets of IQE PLC is −8.2% (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 IQE PLC (IQE)?
The operating margin of IQE PLC is −9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IQE PLC (IQE)?
Revenue at IQE PLC is growing +42.7% versus a year earlier (3y avg −16.6%). 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 IQE PLC (IQE) generate?
The free cash flow of IQE PLC is −£4.6M (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 IQE PLC (IQE) carry?
The net debt of IQE PLC is £76.0M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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