CHIPMOS TECHNOLOGIES INC
IMOSdata completeness 88%8 fiscal years on fileData notes: no data for concept 'epsDiluted'; no data for concept 'interestExpense'
CHIPMOS TECHNOLOGIES INC earns about 19% on invested capital, far above its ~9% cost of capital, with a roughly flat share count — a real edge showing up in the numbers. The estimate methods put fair value between $1.21 and $10.1 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| Revenue | $819.5M1 | $987.7M2 | $765.3M3 | $697.5M4 | $692.2M5 |
| Net income | $84.7M6 | $178M7 | $111.9M8 | $64.3M9 | $43.9M10 |
| Operating cash flow | $211.5M11 | $263.9M12 | $280.4M13 | $215.8M14 | $181.2M15 |
| Capital expenditure | $141.1M16 | $212M17 | $152.9M18 | $100.4M19 | $155M20 |
| Free cash flow (derived) | $70.5M11 | $51.8M12 | $127.5M13 | $115.4M14 | $26.2M15 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $146.5M21 | $212.9M22 | $322.1M23 | $403.5M24 | $464.1M25 |
| Diluted shares | 727.2M | 727.2M | 727.2M | 727.2M | 727.2M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $10.49 of net worth that earned you $0.6 and generated $0.36 of cash last year.
It earned about 19% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is roughly flat over 5 years — little dilution, little buyback.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $1.21 and $10.1 a share. They rest on different assumptions, so where they diverge is the story.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth20.0%
- fcfBase$115.4M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$115.4M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$84.7M
- growthAssumed0.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $2.91 |
| Base | 20.0% | $5.81 |
| Bull | 20.0% | $5.81 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 20-F · period ending 2020-12-31 · accession 0001193125-21-121875 (Revenue)
- 20-F · period ending 2021-12-31 · accession 0001193125-22-104872 (Revenue)
- 20-F · period ending 2022-12-31 · accession 0000950170-23-012607 (Revenue)
- 20-F · period ending 2023-12-31 · accession 0000950170-24-043516 (Revenue)
- 20-F · period ending 2024-12-31 · accession 0000950170-25-053927 (Revenue)
- 20-F · period ending 2020-12-31 · accession 0001193125-21-121875 (ProfitLoss)
- 20-F · period ending 2021-12-31 · accession 0001193125-22-104872 (ProfitLoss)
- 20-F · period ending 2022-12-31 · accession 0000950170-23-012607 (ProfitLoss)
- 20-F · period ending 2023-12-31 · accession 0000950170-24-043516 (ProfitLoss)
- 20-F · period ending 2024-12-31 · accession 0000950170-25-053927 (ProfitLoss)
- 20-F · period ending 2020-12-31 · accession 0001193125-21-121875 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2021-12-31 · accession 0001193125-22-104872 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2022-12-31 · accession 0000950170-23-012607 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2023-12-31 · accession 0000950170-24-043516 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2024-12-31 · accession 0000950170-25-053927 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2020-12-31 · accession 0001193125-21-121875 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2021-12-31 · accession 0001193125-22-104872 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2022-12-31 · accession 0000950170-23-012607 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2023-12-31 · accession 0000950170-24-043516 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2024-12-31 · accession 0000950170-25-053927 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2020-12-31 · accession 0001193125-21-121875 (CashAndCashEquivalents)
- 20-F · period ending 2021-12-31 · accession 0001193125-22-104872 (CashAndCashEquivalents)
- 20-F · period ending 2022-12-31 · accession 0000950170-23-012607 (CashAndCashEquivalents)
- 20-F · period ending 2023-12-31 · accession 0000950170-24-043516 (CashAndCashEquivalents)
- 20-F · period ending 2024-12-31 · accession 0000950170-25-053927 (CashAndCashEquivalents)