Intchains Group Limited American Depositary Shares (ICG)

FairStock Score: 37/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses with durable economics, honest accounting, and a price that leaves a margin of safety. Intchains does not fit that mold today. It sells altcoin-mining ASIC chips and related hardware in China, a cyclical, competitive field tied to crypto prices and mining economics. In the fiscal quarter labeled 2025-Q4, revenue was $36.1 million, but net income was -$126.2 million, a net margin of -349.34%. That is not a temporary stumble; it is a collapse in profitability. The balance sheet has no debt, with D/E of 0.00, which helps, but debt-free does not make a bad year good. FairStock calculations show ROE of -21.63% and ROCE of -11.59%. At the 2026-10-13 close of $1.23, P/B is 0.61 and P/E is -2.51; the price is below book value, but book value may not be worth much if losses continue. The Piotroski F-Score is 4/9 and Altman Z-Score 2.80, suggesting only middling financial quality. FairStock Score is 37/100, and no Lynch category is assigned because only 0 years of filed results exist versus the 3 needed. The latest reported quarter's loss shows the growth trajectory is negative. Unless altcoin mining demand recovers and margins normalize, this looks like a speculative asset, not a Graham bargain. I would need evidence of stable earnings and a durable moat before calling it cheap.

In plain English: Intchains Group Limited makes chips and hardware for altcoin mining, mostly in China. The business looks weak right now: its latest reported quarter showed sales of $36.1 million but a net loss of $126.2 million. The share price is below the company's net asset value, but with losses and shrinking sales that discount may not mean the business is truly cheap.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer