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Micware Co (MWC) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Micware Co $3.39, price $1.69, upside +100.6%, quality 71 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Consumer Cyclical · US · Based in Japan · ISIN US59490A1007

MC Micware Co logo Some data Oct 3, 2026

Micware Co

MWC · US

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

Fair value $3.39 · Strongly undervalued (+100.6%)
Quality 71/100
Healthy Growth (revenue YoY +3.7 %/yr in JPY)
Low debt
Generates free cash flow
Ranks above peers (10/13)
Thin margins · 7.3% net margin (TTM)
Moderate moat 61/100
Some 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

$8.20 $1.11 Fair Value $3.39 May 2026 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 3, 2026.

How to read this chart

5‑month range $1.11 – $8.20 · fair‑value band $2.38 – $4.41 · the $1.69 price screens below the $3.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 3, 2026.

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Company profile

Micware Co., Ltd. provides software development services and information technology solutions focusing on the automotive and mobility sectors in Japan and internationally. The company operates three segments: Software Defined Vehicles, Location-Based Services, and Others.

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Micware Co., Ltd. provides software development services and information technology solutions focusing on the automotive and mobility sectors in Japan and internationally. The company operates three segments: Software Defined Vehicles, Location-Based Services, and Others. Its Software Defined Vehicles segment develops and sells software systems designed for SDV, including in-vehicle infotainment (IVI) system software and other mobility-enhancing software products. The Location-Based Services segment engages in the development and licensing of in-vehicle navigation software systems, and other geographic data-based services for business-to-business customers. Its Other segment comprises software development services for SDV, and business-to-consumer mobile app services unrelated to in-vehicle navigation. It engages in the development and sale of IVI systems that for automotive multimedia, navigation, human machine interface, telematics, and driver assistance. The company also specializes in the development of navigation software and location information-based smartphone applications. Micware Co., Ltd. was incorporated in 2003 and is headquartered in Kobe, Japan.

Stock analysis

Micware Co (MWC) currently trades at $1.69, while our model-based Fair Value estimate is $3.39, implying the stock looks roughly 50.1% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $3.49 per share, and 20 of the 24 models we run sit above the $1.69 price.

Bear case: the Asset-Based group reads lowest at $0.6000, and 4 of the 24 models stay below the price. Evidence for this calculation is medium.

Scenario range: $2.38 (bear) to $4.41 (bull), the price of $1.69 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 71/100 (solid quality), in the Consumer Cyclical sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Micware Co reported revenue of ¥21.9B in FY2026 versus ¥17.5B in FY2024, a compound +11.8%/yr. Reported net income was ¥1.6B in FY2026, compounding +8.1%/yr from FY2024.

Key figures

Market cap $99.7M · P/E ratio 9.9 · P/S ratio 0.73 · EPS (TTM) $0.1700 · Net margin 7.3% · Return on equity 21.7% · Return on assets (EBIT) 10.4% · Operating margin 13.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (medium confidence).

What moves the price

For context, the median of 10 Consumer Cyclical peers we cover trades at −27% fair-value upside, at 101%, MWC screens cheaper than that median.

Fair Value models

Bear $2.38 Fair Value $3.39 Bull $4.41
Price $1.69 · Upside +100.6%
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 2026 figures (about 7 months old). Earnings retained since then ($0.1015 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.
Highest evidence
FCF DCF $2.24 $2.92 $3.79 74
Growth DCF $2.24 $2.82 $3.51 73
EPV $2.03 $2.20 $2.34 71
All 24 models by family
DCF Models
FCF DCF $2.24 $2.92 $3.79 74
Owner Earnings $3.24 $4.34 $5.75 70
5Y Revenue Exit $2.37 $3.40 $4.72 66
5Y EBITDA Exit $3.22 $5.00 $7.11 68
5Y P/E Exit $2.73 $4.08 $5.51 64
10Y Revenue Exit $2.24 $3.08 $4.21 61
10Y EBITDA Exit $2.75 $4.04 $5.80 62
10Y P/E Exit $2.49 $3.49 $4.74 58
Earnings-Based
Graham-Dodd $1.16 $3.87 $5.19 58
Lynch FV $0.8800 $1.25 $1.63 55
PEG = 1.0 $0.8800 $1.25 $1.63 52
EPV $2.03 $2.20 $2.34 71
Multiples
P/E Multiple $2.82 $3.76 $4.70 63
P/S Multiple $2.10 $2.80 $3.50 58
P/B Multiple $2.18 $2.91 $3.63 55
EV/EBIT $4.01 $5.14 $6.28 66
EV/EBITDA $4.40 $5.66 $6.92 67
EV/Revenue $2.57 $3.41 $4.25 54
Asset-Based
NCAV (Graham) $0.4500 $0.6000 $0.9000 54
Growth DCF
Growth DCF $2.24 $2.82 $3.51 73
Rev-Margin DCF $2.37 $3.40 $4.61 66
Economic Profit
Residual Income $0.8900 $1.12 $1.57 63
ROIC Compounder $2.08 $2.31 $2.53 66
Growth Earnings
Growth-Adj P/E $2.38 $3.39 $4.41 61

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Quality Score breakdown

Overall quality 71/100

Of which business quality 67 · Market factors (momentum, volatility) 0

Profitability 56
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 80
Share count: buybacks or dilution?

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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. 71/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

Growth Forecast

Little optimism in the price
The price assumes less 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).
−3.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about −5.4% a year for the price.

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Earlier news

News mood ⓘNews mood, the average tone of recent news (17 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. Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.

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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.Auto Parts · 659 stocks

Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 71 · Top 25%
Fair Value upside +100.6% · Top 25%
Profitability
Return on equity (TTM) 21.7% · Top 25%
Return on assets 6.2% · Top 25%
Net margin (TTM) 7.3% · Above median
Operating margin (TTM) 13.6% · Top 25%
Growth and dividend
Revenue growth 0.4% · Below median
Balance sheet
Debt / equity 0.31× · Highest 25%

Valuation Multiplesvs Auto Parts median · lower = cheaper

P/E (TTM) 9.9× · Cheapest 25%
P/B 1.87× · Pricier than median
P/S (TTM) 0.72× · Cheaper than median
P/FCF 8.8× · Cheaper than median
EV/EBITDA 3.6× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 25
FUTURE (revenue growth)2 · sector 29
PAST (return on equity)87 · sector 30
HEALTH (low debt)85 · sector 95
DIVIDEND (yield)0 · sector 37

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 Auto Parts stocks, each showing price versus our Fair Value estimate.

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AutoZone, Inc AZO $2,819 $2,468 −12%
Hyundai Mobis Co 012330 383,500 KRW 638,183 KRW +66%
Fuyao Glass Industry Group 600660 ¥52.47 ¥78.11 +49%
Knorr-Bremse AG KBX €99.20 €72.88 −27%
Samvardhana Motherson International Limited MOTHERSON ₹165.71 ₹96.97 −41%
Genuine Parts Company GPC $126.95 $57.98 −54%
Magna International Inc MGA $64.46 $69.37 +8%
Bosch Limited BOSCHLTD ₹48,250 ₹25,213 −48%
Ningbo Tuopu Group 601689 ¥46.44 ¥28.28 −39%

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Micware Co · Fair Value
$3.39 +50%Fair Value
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Cite: Fair Value Calculator (2026). "Micware Co Fair Value". https://www.fairvalue-calculator.com/stock/MWC

Frequently asked questions

Is Micware Co (MWC) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $3.39 versus a price of $1.69, about +101% upside (undervalued).
What is the fair value of MWC?
Our model-based fair value for Micware Co is $3.39 (as of Oct 3, 2026), built from audited fundamentals. The current price: $1.69.
What is the quality score of MWC?
Micware Co has a Quality Score of 71/100. 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 Micware Co (MWC)?
Our model-based price target is the fair value of $3.39 (as of Oct 3, 2026) from 24 valuation models. Cautious scenario $2.38, optimistic scenario $4.41. It is a calculation from audited fundamentals, not an analyst target.
What is the Micware Co stock forecast for 2026?
Our models put fair value at $3.39, about +101% upside versus a price of $1.69 (undervalued). Cautious scenario $2.38, optimistic scenario $4.41. The calculation is refreshed regularly with new filings.
What is the revenue of Micware Co (MWC)?
Micware Co reported trailing-twelve-month revenue of about ¥21.9B (latest available figure, as of Oct 3, 2026).
What growth is priced into Micware Co (MWC)?
For today's price to be fair in a discounted-cash-flow model, Micware Co would have to grow free cash flow by -3.4 % per year for five years (discount rate 12.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 2 years revenue grew +11.8 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of MWC use?
Our models discount Micware Co at 12.7 %: a base by market capitalisation (micro), 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 Micware Co that is -3.4 % per year a year over ten years, using the same discount rate (12.7 %) and the same formula as our fair value.
How much growth has Micware Co (MWC) delivered so far?
Over the past 2 years revenue at Micware Co grew +11.8 % a year. The price currently implies -3.4 % 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 Micware Co (MWC) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into Micware Co (-3.4 % 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 Micware Co (MWC)?
The free-cash-flow yield on the price is 11.33 %: that much free cash flow Micware Co produces per unit of market value. When it exceeds the discount rate of our models (12.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Micware Co (MWC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Micware Co it is $3.39 per share (as of Oct 3, 2026), against a price of $1.69. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Micware Co stock overvalued or undervalued in 2026?
As of Oct 3, 2026, MWC trades below its calculated fair value: price $1.69, fair value $3.39, a gap of about +101% (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 MWC?
No. The price is what the market pays today ($1.69); the fair value is what the company's own numbers justify ($3.39). For Micware Co the two are $1.70 per share apart. That gap is exactly why we show both numbers side by side.
How much is Micware Co worth?
The market values Micware Co at about $99.7M (market capitalisation, as of Oct 3, 2026). Per share that is $1.69; our models calculate a fair value of $3.39 per share.
What do the bullish and bearish scenarios say about MWC?
Our models span a range for Micware Co: cautious scenario $2.38, base $3.39, optimistic $4.41 per share (as of Oct 3, 2026, price $1.69). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MWC?
Micware Co trades at a price-to-earnings ratio of 9.9 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $3.39 is built from several models across several years. Other multiples: P/B 1.9, P/S 0.7, EV/EBITDA 3.6.
How solid is the balance sheet of Micware Co (MWC)?
Balance-sheet figures for Micware Co (as of Oct 3, 2026): return on equity 21.7%, debt of 0.31 per unit of equity. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
Which stocks are comparable to Micware Co?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Micware Co stock attractive at the current price?
The data as of Oct 3, 2026: price $1.69, calculated fair value $3.39 (+101%), Quality Score 71/100, 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 MWC calculated?
We run Micware Co 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 $3.39, 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 14.9 % above its aggregate fair value. Micware Co currently trades 50 % 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 Micware Co (MWC)?
The closing price on Oct 2, 2026 was $1.69. Our model-based fair value is $3.39, about +101% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Micware Co right now?
The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case ($2.38). The market is more pessimistic than our downside scenario. A fairly wide model range ($2.38 to $4.41) leaves room in how you read the outcome.

Key figures of Micware Co

How large is the market capitalisation of Micware Co (MWC)?
The market capitalisation of Micware Co is $99.7M. 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 Micware Co (MWC)?
The price-to-sales ratio of Micware Co is 0.73 (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 Micware Co (MWC)?
Earnings per share at Micware Co are $0.1700 (price ÷ EPS = P/E 9.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Micware Co (MWC)?
The net margin of Micware Co is 7.3% (fiscal year 2026). 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 Micware Co (MWC)?
The return on equity (ROE) of Micware Co is 21.7% (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 Micware Co (MWC)?
On an EBIT basis the return on assets of Micware Co is 10.4% (avg 3y). 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 Micware Co (MWC)?
The operating margin of Micware Co is 13.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Micware Co (MWC)?
Revenue at Micware Co is growing +0.4% versus a year earlier. 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 Micware Co (MWC)?
Earnings per share at Micware Co are growing +32.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Micware Co (MWC) carry?
The net debt of Micware Co is ¥637M (fiscal year 2024, ≈ 0.4 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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