Intchains Group Ltd. ADR (ICG) AI Stock Analysis

• Market Cap: $108.06M
• Dividend Yield: N/A
• Average Volume (3M): 400.36K
• Price to Earnings (P/E): 8.5
• Beta (1Y): 1.01
• Revenue Growth: 6.18%
• EPS Growth: 95.91%
• Country: US
• Employees: 133
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 0.09
• Shares Outstanding: 28,375,372
• 10 Day Avg. Volume: 900,049
• 30 Day Avg. Volume: 400,359
• PEG Ratio: -0.03
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 2.56
• P/FCF Ratio: -4.87
• Enterprise Value/Market Cap: 1.03
• Enterprise Value/Revenue: 0.36
• Enterprise Value/Gross Profit: 0.76
• Enterprise Value/Ebitda: 2.13
• 1Y Price Target: $3.50
• Price Target Upside: 95.53% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: $2.00 ▲(11.73% Upside)

The score is primarily driven by strong balance-sheet conservatism and improving technical momentum. Offsetting these positives are weak/volatile cash generation and a mixed earnings-call outlook featuring revenue declines and operating losses, with recent net income aided by cryptocurrency fair-value gains rather than core operating strength; valuation is supportive with a low P/E.

Positive Factors

Balance Sheet Strength

A strong balance sheet with minimal debt provides financial flexibility, allowing the company to invest in growth opportunities and weather economic downturns.

Strategic Expansion into Staking

Expanding into staking operations diversifies revenue streams and positions the company for growth in decentralized finance, enhancing long-term competitiveness.

Product Innovation

Introducing new products like the Dogecoin mining machine can capture market share and drive revenue growth, supporting the company's competitive position.

Negative Factors

Revenue Decline

A decline in revenue indicates challenges in core business operations, potentially affecting profitability and long-term growth if not addressed.

Increased Operating Loss

Rising operating losses highlight cost management issues and market demand challenges, which could strain financial resources and impact future investments.

Cash Flow Volatility

Volatile cash flow undermines financial stability and limits the ability to fund operations and strategic initiatives, increasing execution risk.

Intchains Group Ltd. ADR Business Overview & Revenue Model

Company Description

Intchains Group Limited designs and sells application-specific integrated circuit chips and ancillary software and hardware for blockchain applications in the People's Republic of China. It serves distributors, companies, and individuals. Intchains Group Limited was founded in 2017 and is based in Pudong, China.

How the Company Makes Money

Intchains Group Ltd. generates revenue through the sale of its integrated circuit products, which are predominantly used in the cryptocurrency industry and other data-intensive applications. The company designs and manufactures these high-performance chips to meet the increasing demand for efficient and powerful computing solutions. Key revenue streams include direct sales to businesses and partnerships with technology firms that require custom chip solutions. Additionally, the company benefits from strategic collaborations with industry-leading enterprises that enhance its market reach and technological capabilities. These partnerships and the company's continuous innovation play a significant role in sustaining and growing its revenue.

Intchains Group Ltd. ADR Financial Statement Overview

Summary

Intchains Group Ltd. shows strong revenue growth and a solid balance sheet with low leverage and high equity. However, cash flow challenges pose significant risks to liquidity and operational sustainability. Improvements in operational efficiency are needed to enhance profitability and ensure robust cash generation.

Income Statement

Intchains Group Ltd. has shown significant revenue growth from 2023 to 2024, with a notable increase from $82.2M to $281.8M. The gross profit margin improved substantially, reflecting efficient cost management. However, EBIT and EBITDA margins remain low, suggesting potential challenges in operational efficiency. The net profit margin saw a remarkable recovery from a negative position in 2023 to 18.3% in 2024.

Balance Sheet

The company maintains a strong financial position with a high equity ratio of 93.0% in 2024, indicating a robust capital structure. The debt-to-equity ratio remains exceptionally low, suggesting minimal leverage risks. The return on equity improved significantly, demonstrating effective utilization of shareholders' capital. The overall stability is supported by a substantial cash reserve relative to total liabilities.

Cash Flow

Cash flow performance is concerning, with zero operating and free cash flow reported in 2024. This indicates potential difficulties in generating cash from operations, despite positive net income. The absence of positive free cash flow growth raises concerns about the company's ability to sustain its operations and invest in growth without external financing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	310.07M	281.77M	82.22M	473.74M	631.84M	54.60M
Gross Profit	145.86M	151.31M	9.08M	386.72M	517.88M	31.27M
EBITDA	52.16M	55.22M	-31.66M	324.51M	450.89M	9.10M
Net Income	20.19M	51.50M	-26.80M	355.20M	450.14M	8.25M
Balance Sheet
Total Assets	1.06B	1.09B	979.25M	953.13M	611.26M	43.90M
Cash, Cash Equivalents and Short-Term Investments	491.73M	520.81M	688.35M	712.23M	502.42M	19.63M
Total Debt	0.00	272.00K	1.86M	1.27M	2.20M	239.00K
Total Liabilities	32.92M	76.44M	28.93M	19.53M	32.86M	9.71M
Stockholders Equity	1.03B	1.01B	950.33M	933.60M	578.40M	34.19M
Cash Flow
Free Cash Flow	-27.77M	-148.33M	-56.28M	322.67M	393.65M	15.34M
Operating Cash Flow	-22.48M	-138.25M	-4.71M	326.69M	395.42M	15.59M
Investing Cash Flow	-61.94M	-125.94M	-64.99M	-116.87M	-1.77M	-251.00K
Financing Cash Flow	0.00	0.00	51.22M	0.00	89.14M	251.00K

Intchains Group Ltd. ADR Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.79
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICG, the sentiment is Positive. The current price of 1.79 is above the 20-day moving average (MA) of 1.76, above the 50-day MA of 1.53, and below the 200-day MA of 1.97, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 52.63 is Neutral, neither overbought nor oversold. The STOCH value of 36.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ICG.

Intchains Group Ltd. ADR Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ICG	65 Neutral	$108.06M	8.49	8.63%	―	6.18%	95.91%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
INTT	56 Neutral	$103.11M	-44.38	-2.24%	―	-2.20%	-204.45%
GSIT	53 Neutral	$271.01M	-17.70	-32.47%	―	22.00%	28.06%
QUIK	49 Neutral	$127.32M	-12.97	-39.72%	―	-28.05%	-488.63%
MX	46 Neutral	$99.31M	-2.66	-8.46%	―	-7.79%	10.04%
GCTS	43 Neutral	$62.81M	-1.44	―	―	-46.98%	-186.82%

Intchains Group Ltd. ADR Corporate Events

Intchains Group Reports Q3 2025 Results and Expands Cryptocurrency Staking Operations

Intchains Group Limited reported its financial results for the third quarter and nine months ending September 30, 2025, showing a significant decrease in revenue compared to the previous year, but a notable gain in the fair value of cryptocurrencies, leading to an increase in net income. The company launched new high-performing XTM mining products and initiated ETH staking with FalconX, aiming to support revenue growth in Q4 2025. Additionally, Intchains has entered into an agreement to acquire a Proof-of-Stake technology platform, expanding its business operations into cryptocurrency staking, which positions the company for growth in decentralized finance.

The most recent analyst rating on (ICG) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on Intchains Group Ltd. ADR stock, see the ICG Stock Forecast page.

Intchains Group Expands Blockchain Capabilities with PoS Platform Acquisition

On November 13, 2025, Intchains Group Limited announced the signing of a definitive agreement to acquire a Proof-of-Stake technology platform from ECHOLINK Limited for $1.3 million. This acquisition, which includes staking operations for Ethereum, Avalanche, Manta, and Conflux, represents a strategic move to enhance Intchains’ blockchain infrastructure capabilities and expand its presence in decentralized finance. By integrating this platform, Intchains aims to diversify its technology offerings and strengthen its position in the digital asset management sector, ultimately contributing to long-term shareholder value.

The most recent analyst rating on (ICG) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on Intchains Group Ltd. ADR stock, see the ICG Stock Forecast page.