Innolux stock: fair value
3481.TWThe fair value of Innolux under our model is $0.40, the price is 192% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly overvaluedIn our model the price counts as cheap below $0.27 and expensive above $0.81 (uncertainty very high, based on the price swings of the past year).
The two parts of the fair value come to $0.06 (cash-flow model) and $0.75 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is above both.
Calculated with a cost of equity of 11.2%. At 12.2% the fair value would be $0.40, at 10.2% it would be $0.41.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (31.5).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.8%. Discounted at 11.2% (government bond yield 3.8% plus beta 1.47 times a risk premium of 5%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $0.06 per share: free cash flow for the next ten years, each year discounted to today at 11.2%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 11.2%) |
|---|---|---|---|---|
| 2026 | $75.51M | extrapolated at −34.2% | 0.8992 | $67.9M |
| 2027 | $58.29M | extrapolated at −22.8% | 0.8086 | $47.13M |
| 2028 | $49.65M | extrapolated at −14.8% | 0.7271 | $36.1M |
| 2029 | $45.07M | extrapolated at −9.2% | 0.6538 | $29.47M |
| 2030 | $42.68M | extrapolated at −5.3% | 0.5879 | $25.09M |
| 2031 | $41.58M | extrapolated at −2.6% | 0.5286 | $21.98M |
| 2032 | $41.31M | extrapolated at −0.7% | 0.4754 | $19.64M |
| 2033 | $41.6M | extrapolated at 0.7% | 0.4274 | $17.78M |
| 2034 | $42.28M | extrapolated at 1.6% | 0.3844 | $16.25M |
| 2035 | $43.25M | extrapolated at 2.3% | 0.3456 | $14.95M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $296.28M |
| Terminal value: cash flow 2035 × (1 + 3.8%) / (11.2% − 3.8%) | $608.55M |
| Present value of terminal value (× 0.3456) | $210.32M |
| Equity value (sum plus present value of terminal value) | $506.6M |
| Shares (diluted) | 7.99B |
| Value per share (equity value divided by shares) | $0.06 |
| Earnings per share, last twelve months | $0.02 |
| × 31.5 (industry P/E) | $0.75 |
| Fair value (average of both parts) | $0.40 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = NT$32.8500)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 2 Oct 2026)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.