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ChipMOS TECHNOLOGIES INC. (8150) Fair Value & Analysis

Technology · TW · Market cap 69.5B TWD

CT ChipMOS TECHNOLOGIES INC. 8150 · TW
Price91.90 TWD
Fair Value38.96 TWD
Upside-57.6%
Quality56/100
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Weak Growth
Thin margins · 3.3% net margin
Low debt · generates free cash flow
1.18% dividend yield
Trails peers (5/14)
Narrow moat 35/100
Evidence: High Range 28.86 TWD – 49.84 TWD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from 14.24 TWD to 38.96 TWD (+173.6%) since Jul 23, 2026. Share price −19.4% over the past month.

A solid business, but screening 58% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (49.84 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

122.50 TWD 21.30 TWD Fair Value 38.96 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 21.30 TWD – 122.50 TWD · fair‑value band 28.86 TWD – 49.84 TWD · the 91.90 TWD price screens above the 38.96 TWD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

ChipMOS TECHNOLOGIES INC. (8150) currently trades at 91.90 TWD, while our model-based Fair Value estimate is 38.96 TWD, implying the stock looks roughly 57.6% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, ChipMOS TECHNOLOGIES INC. generated revenue of 25.3B TWD at a net margin of 3.3%. Revenue grew 25.4% year over year. It earns a return on equity of 3.3%. Net debt stands at 2.2B TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 28.86 TWD (bear case) to 49.84 TWD (bull case); at 91.90 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 298% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -54% fair-value upside, at -58%, 8150 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (2.47 TWD to 162.60 TWD). Read the values as a conservative anchor, not as a price target.
Model 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. Evidence
Highest evidence
Growth DCF 9.21 TWD 9.99 TWD 11.06 TWD 80
Residual Income 24.54 TWD 23.70 TWD 19.01 TWD 76
ROIC Compounder 18.29 TWD 20.15 TWD 21.77 TWD 72
All 24 models by family
DCF Models
FCF DCF 9.15 TWD 9.98 TWD 11.17 TWD 38
Owner Earnings 33.64 TWD 44.91 TWD 60.81 TWD 31
5Y Revenue Exit 14.92 TWD 20.34 TWD 27.09 TWD 39
5Y EBITDA Exit 72.48 TWD 121.85 TWD 177.35 TWD 41
5Y P/E Exit 16.18 TWD 22.56 TWD 28.92 TWD 38
10Y Revenue Exit 12.39 TWD 16.82 TWD 22.42 TWD 36
10Y EBITDA Exit 48.58 TWD 85.13 TWD 131.08 TWD 37
10Y P/E Exit 13.51 TWD 18.32 TWD 23.74 TWD 35
Earnings-Based
Graham-Dodd 4.84 TWD 10.75 TWD 13.72 TWD 54
PEG = 1.0 1.73 TWD 2.47 TWD 3.21 TWD 46
EPV 18.29 TWD 20.15 TWD 21.77 TWD 59
Dividend Discount
Gordon GGM 11.52 TWD 18.47 TWD 26.29 TWD 70
DDM Multi-Stage 11.52 TWD 16.75 TWD 22.61 TWD 61
Multiples
P/E Multiple 14.95 TWD 19.94 TWD 24.92 TWD 63
P/S Multiple 9.08 TWD 12.10 TWD 15.13 TWD 58
P/B Multiple 9.08 TWD 12.10 TWD 15.13 TWD 55
EV/EBIT 30.57 TWD 38.37 TWD 46.17 TWD 53
EV/EBITDA 123.74 TWD 162.60 TWD 201.45 TWD 54
EV/Revenue 19.01 TWD 24.07 TWD 29.14 TWD 43
Asset-Based
NCAV (Graham) 17.26 TWD 23.13 TWD 34.52 TWD 50
Growth DCF
Growth DCF 9.21 TWD 9.99 TWD 11.06 TWD 80
Economic Profit
Residual Income 24.54 TWD 23.70 TWD 19.01 TWD 76
ROIC Compounder 18.29 TWD 20.15 TWD 21.77 TWD 72
Growth Earnings
Growth-Adj P/E 10.96 TWD 15.66 TWD 20.36 TWD 68

Widest divergence: Asset-Based (23.13 TWD) versus Growth DCF (9.99 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 25.3B TWD
Revenue growth (YoY) +25.4%
Net margin 3.3%
Return on equity 3.3%
Free cash flow 130M TWD FY2025
P/E ratio 73.5
More key figures
Operating margin 7.5%
EPS (TTM) 1.25 TWD
Dividend yield 1.2%
EPS growth (YoY) +200%
Net debt 2.2B TWD FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 55 · Market factors (momentum, volatility) 66

Profitability 22
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 19
Calm price path (market factor)
Momentum 87
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

ChipMOS TECHNOLOGIES INC. engages in the research and development, manufacture, and sale of integrated circuits, and related assembly and testing services in Taiwan, Japan, the People's Republic of China, and internationally. It operates through five segments: Testing; Assembly; Display Panel Driver Semiconductor Assembly and Testing; Bumping; and Others.

Full company description

ChipMOS TECHNOLOGIES INC. engages in the research and development, manufacture, and sale of integrated circuits, and related assembly and testing services in Taiwan, Japan, the People's Republic of China, and internationally. It operates through five segments: Testing; Assembly; Display Panel Driver Semiconductor Assembly and Testing; Bumping; and Others. The company offers leadframe-based packages, such as the small outline package, thin small outline package, and quad flat package; and substrate-based packages, including FBGA, VFBGA, stacked chip-scale package, TFBGA, LGA, COG, and COF; and testing solutions comprising professional wafer and final testing, tester/tooling correlation, test program verification, engineering lot and pilot lot run arrangement, engineering support, device failure mode analysis, and automation system for simple digital logic, complex ASIC, high speed digital, memory, and mixed signal and display driver IC devices. It also provides bumping services; intellectual property management and enabling technologies; and turnkey services, such as wafer bumping/RDL, wafer sort, assembly, final test, and drop shipment to display driver IC, memory IC, and logic mixed-signal IC. The company serves fabless companies, integrated device manufacturers, and foundries. ChipMOS TECHNOLOGIES INC. was incorporated in 1997 and is headquartered in Hsinchu City, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ChipMOS TECHNOLOGIES INC. reported revenue of 23.9B TWD in FY2025 versus 27.4B TWD in FY2021, a compound −3.3%/yr. Reported net income was 495M TWD in FY2025, compounding −43.7%/yr from FY2021.

Growth Quality 39/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
23.9B TWD
Latest YoY
+5.5%
Avg. growth/yr (3Y) 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.
+0.6%
Avg. growth/yr (5Y) 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.
+0.8%
Avg. growth/yr (20Y) 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.
+2.4%
Revenue −3.3%/yr
FY21 27.4B TWD
FY22 23.5B TWD
FY23 21.4B TWD
FY24 22.7B TWD
FY25 23.9B TWD
Net income −43.7%/yr
FY21 4.9B TWD
FY22 3.4B TWD
FY23 2.0B TWD
FY24 1.4B TWD
FY25 495M TWD
Character of growth · EPS growth decomposed (2014-2025) −6.3 % p.a.
Revenue per share +1.8 pp

of which total revenue +1.5 pp · buybacks/dilution +0.3 pp

EBIT margin −9.0 pp
Tax rate +1.1 pp
Residual (interest, one-offs) −0.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

8150 screens 58% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "ChipMOS TECHNOLOGIES INC. Fair Value". https://www.fairvalue-calculator.com/stock/8150

Peer Group

Semiconductors · 322 stocks

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.

Quality Score 56 · Below median
Fair Value upside −58% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth 25% · Above median
Dividend yield (TTM) 1.2% · Above median
Debt / equity 0.41× · Higher than 75% of peers

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 73.5× · Pricier than median
P/B 2.90× · Cheaper than median
P/S (TTM) 2.75× · Cheaper than median
P/FCF 16.7× · Pricier than 75% of peers
EV/EBITDA 10.2× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 59
PAST 13 · sector 23
HEALTH 79 · sector 96
DIVIDEND 24 · sector 20

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $217.50 $98.98 -54%
Taiwan Semiconductor Manufacturing Company TSM $429.15 $291.42 -32%
Broadcom Inc 1AVGO €366.85 €121.25 -67%
Micron Technology, Inc 1MU €802.10 €185.67 -77%
SK hynix Inc 000660 1,504,000 KRW 1,481,291 KRW -2%
Advanced Micro Devices, Inc 1AMD €428.20 €56.33 -87%
Intel Corporation INTC C$54.79 C$11.71 -79%
MediaTek Inc 2454 4,015 TWD 1,559 TWD -61%
SK Square Co 402340 1,024,000 KRW 1,204,862 KRW +18%
GigaDevice Semiconductor Inc 3986 HK$515.00 HK$274.86 -47%

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Frequently asked questions

Is ChipMOS TECHNOLOGIES INC. (8150) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 38.96 TWD versus a price of 91.90 TWD, about −58% (overvalued).
What is the fair value of 8150?
Our model-based fair value for ChipMOS TECHNOLOGIES INC. is 38.96 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price is 91.90 TWD.
What is the quality score of 8150?
ChipMOS TECHNOLOGIES INC. has a Quality Score of 56/100. 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 revenue of ChipMOS TECHNOLOGIES INC. (8150)?
ChipMOS TECHNOLOGIES INC. reported trailing-twelve-month revenue of about 25.3B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 8150?
The net profit margin of ChipMOS TECHNOLOGIES INC. is about 3.3%, meaning it keeps roughly 3.3% of revenue as net income. Based on the latest reported figures.
Does ChipMOS TECHNOLOGIES INC. pay a dividend?
ChipMOS TECHNOLOGIES INC. currently shows a dividend yield of about 1.18% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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