Intercede Group plc (IRCDF) fair value: what the stock is really worth
As of Sep 28, 2026: fair value of Intercede Group plc $1.51, price $1.50, upside +0.5%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $0.2930 – $1.50 · fair‑value band $1.07 – $2.13 · the $1.50 price screens below the $1.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Intercede Group plc, a cybersecurity company, develops and supplies identity and credential management software for digital trust primarily in the United Kingdom, rest of Europe, the United States, and internationally.
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Intercede Group plc, a cybersecurity company, develops and supplies identity and credential management software for digital trust primarily in the United Kingdom, rest of Europe, the United States, and internationally. The company offers MyID Password Security Management which detects and prevents breached passwords through real-time and scheduled checking, stops accounts from sharing passwords and offers instant password feedback and automatic remediation. It also provides MyID IDV for registration and identity verification; and MyID MFA, a secure login and password replacement solution which provides multiple token and tokenless options to suit any scenario while ensuring a simple user experience. In addition, the company offers MyID CMS, a flexible software solution that enables organizations and governments to deploy and manage PKI based digital identities; and MyID PIV, a software solution for federal agencies that issue and manage secure digital identities to federal employees using public key infrastructure. It serves government and federal; US federal; aerospace and defense; finance and banking; healthcare and critical infrastructure; energy and utilities; manufacturing and industry; and military and police institutes. The company was formerly known as Optionsilver plc and changed its name to Intercede Group plc in December 2000. Intercede Group plc was founded in 1992 and is headquartered in Lutterworth, the United Kingdom.
Stock analysis
Intercede Group plc (IRCDF) currently trades at $1.50, while our model-based Fair Value estimate is $1.51, so the stock looks roughly fairly valued today (gap 0.5%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $1.78 per share, and 13 of the 24 models we run sit above the $1.50 price.
Bear case: the Asset-Based group reads lowest at $0.2500, and 11 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: $1.07 (bear) to $2.13 (bull), the price of $1.50 sits inside 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 60/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Intercede Group plc reported revenue of £17.7M in FY2025 versus £11.0M in FY2021, a compound +12.8%/yr. Reported net income was £4.1M in FY2025, compounding +27.6%/yr from FY2021.
Key figures
Market cap $87.7M · P/E ratio 11.5 · P/S ratio 2.64 · EPS (TTM) $0.1300 · Net margin 22.9% · Return on equity 23.1% · Return on assets (EBIT) 10.5% · Operating margin 11.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 9% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at 0%, IRCDF screens cheaper than that median.
Fair Value models
Bear $1.07Fair Value $1.51Bull $2.13
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 12 months old). Earnings retained since then ($0.1300 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.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.88/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−11.3%
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.
+21.3%
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.
+11.3%
Start year 2020 (pandemic). Over 10 years: +7.2% a year
Revenue growth 10 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.
+7.2%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+34.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+34.4%
Dividend (yield on the price)0.0%
Profit margin 2020 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.11% → 22%
2025 sits 208% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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).
+23.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in GBP, UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about +20.5% a year for the price.
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.Software - Application · 636 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+9.1% · Above median
Profitability
Return on equity (TTM)23.1% · Top 25%
Return on assets8.8% · Top 25%
Net margin (TTM)20.9% · Top 25%
Operating margin (TTM)11.5% · Above median
Growth and dividend
Revenue growth−3.9% · Bottom 25%
Valuation Multiplesvs Software - Application 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). "Intercede Group plc Fair Value". https://www.fairvalue-calculator.com/stock/IRCDF
Frequently asked questions
Is Intercede Group plc (IRCDF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $1.51 versus a price of $1.50, about +0% upside (fairly valued).
What is the fair value of IRCDF?
Our model-based fair value for Intercede Group plc is $1.51 (as of Sep 24, 2026), built from audited fundamentals. The current price: $1.50.
What is the quality score of IRCDF?
Intercede Group plc has a Quality Score of 60/100. 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 Intercede Group plc (IRCDF)?
Our model-based price target is the fair value of $1.51 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $1.07, optimistic scenario $2.13. It is a calculation from audited fundamentals, not an analyst target.
What is the Intercede Group plc stock forecast for 2026?
Our models put fair value at $1.51, about +0% upside versus a price of $1.50 (fairly valued). Cautious scenario $1.07, optimistic scenario $2.13. The calculation is refreshed regularly with new filings.
What is the revenue of Intercede Group plc (IRCDF)?
Intercede Group plc reported trailing-twelve-month revenue of about £17.4M (latest available figure, as of Sep 24, 2026).
What growth is priced into Intercede Group plc (IRCDF)?
For today's price to be fair in a discounted-cash-flow model, Intercede Group plc would have to grow free cash flow by +23.3 % per year for five years (discount rate 14.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of IRCDF use?
Our models discount Intercede Group plc at 14.7 %: a base by market capitalisation (micro), damped by beta 1.62, country premium for USA. 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 Intercede Group plc that is +23.3 % per year a year over ten years, using the same discount rate (14.7 %) and the same formula as our fair value.
How much growth has Intercede Group plc (IRCDF) delivered so far?
Over the past 5 years revenue at Intercede Group plc grew +11.3 % a year. The price currently implies +23.3 % 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 Intercede Group plc (IRCDF) growing?
The median revenue growth in the sector is +13.4 % a year. That is the yardstick for the growth priced into Intercede Group plc (+23.3 % 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 Intercede Group plc (IRCDF)?
The free-cash-flow yield on the price is 3.48 %: that much free cash flow Intercede Group plc produces per unit of market value. When it exceeds the discount rate of our models (14.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Intercede Group plc (IRCDF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Intercede Group plc it is $1.51 per share (as of Sep 24, 2026), against a price of $1.50. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Intercede Group plc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, IRCDF trades below its calculated fair value: price $1.50, fair value $1.51, a gap of about +0% (fairly valued). 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 IRCDF?
No. The price is what the market pays today ($1.50); the fair value is what the company's own numbers justify ($1.51). For Intercede Group plc the two are $0.0070 per share apart. That gap is exactly why we show both numbers side by side.
How much is Intercede Group plc worth?
The market values Intercede Group plc at about $87.7M (market capitalisation, as of Sep 24, 2026). Per share that is $1.50; our models calculate a fair value of $1.51 per share.
What do the bullish and bearish scenarios say about IRCDF?
Our models span a range for Intercede Group plc: cautious scenario $1.07, base $1.51, optimistic $2.13 per share (as of Sep 24, 2026, price $1.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IRCDF?
Intercede Group plc trades at a price-to-earnings ratio of 11.5 (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 $1.51 is built from several models across several years. Other multiples: P/B 3.9, P/S 3.8, EV/EBITDA 12.1.
How solid is the balance sheet of Intercede Group plc (IRCDF)?
Balance-sheet figures for Intercede Group plc (as of Sep 24, 2026): return on equity 23.1%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is IRCDF from its 52-week high?
Intercede Group plc trades at $1.50, at its 52-week high of $1.50 and 9% above the low of $1.37 (as of Sep 28, 2026). Distance from the high says nothing about value: that is what the fair value of $1.51 is for.
Which stocks are comparable to Intercede Group plc?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, 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 Intercede Group plc stock attractive at the current price?
The data as of Sep 24, 2026: price $1.50, calculated fair value $1.51 (+0%), Quality Score 60/100, from 24 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 IRCDF calculated?
We run Intercede Group plc through 24 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 $1.51, 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. Intercede Group 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 Intercede Group plc (IRCDF)?
The closing price on Sep 28, 2026 was $1.50. Our model-based fair value is $1.51, about +0% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Intercede Group plc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($1.07 to $2.13) leaves room in how you read the outcome.
Key figures of Intercede Group plc
How large is the market capitalisation of Intercede Group plc (IRCDF)?
The market capitalisation of Intercede Group plc is $87.7M. 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 Intercede Group plc (IRCDF)?
The price-to-sales ratio of Intercede Group plc is 2.64 (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 Intercede Group plc (IRCDF)?
Earnings per share at Intercede Group plc are $0.1300 (price ÷ EPS = P/E 11.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Intercede Group plc (IRCDF)?
The net margin of Intercede Group plc is 22.9% (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 Intercede Group plc (IRCDF)?
The return on equity (ROE) of Intercede Group plc is 23.1% (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 Intercede Group plc (IRCDF)?
On an EBIT basis the return on assets of Intercede Group plc is 10.5% (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 Intercede Group plc (IRCDF)?
The operating margin of Intercede Group plc is 11.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Intercede Group plc (IRCDF)?
Revenue at Intercede Group plc is growing −3.9% versus a year earlier (3y avg +21.3%). 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 Intercede Group plc (IRCDF)?
Earnings per share at Intercede Group plc are growing −25.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Intercede Group plc (IRCDF) carry?
The net debt of Intercede Group plc is £74.0K (fiscal year 2020, ≈ 0.0 yrs of FCF). 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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Sep 24, 2026