Intchains Group Limited ICG

Competitive advantage analysis · technology

Corporate Default
Overall moat score
24/100
Weak

About Intchains Group Limited

Intchains Group Limited engages in the provision of altcoin mining products in the People's Republic of China. It focuses on designing and sales of application-specific integrated circuit chips for blockchain applications. The company also offers Xihe Platform, which integrates self-developed blockchain proof-of-work algorithms and related cryptographic algorithms, as well as systematic data analysis process. In addition, it offers ancillary software, … Full ICG analysis →

Competitive advantage assessment

Key strengths

  • Strong Liquidity Buffer Liquidity position is strong (score 0.97), providing operational cushion.

Key risks

  • Commodity Pressure / Weak Differentiation Gross margin at 6.2th percentile with high volatility suggests weak pricing power or commoditized products.
  • ROIC Below WACC or Peers ROIC at 26.6th percentile suggests inefficient capital deployment.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Weak
10

Where ICG ranks in Semiconductors

Intchains Group Limited ranks #57 of 66 scored companies in Semiconductors by moat score — the top 86%. The widest moat in the group is NVE Corporation (NVEC) at 86/100.

Moat scores for companies ranked near ICG in Semiconductors
# Company Moat score Rating
53 MaxLinear, Inc MXL 29/100 Developing
54 GCT Semiconductor Holding, Inc. GCTS 28/100 Developing
55 Peraso Inc. PRSO 26/100 Developing
56 Pixelworks, Inc. PXLW 25/100 Developing
57 Intchains Group Limited ICG 24/100 Weak
58 Wolfspeed, Inc. WOLF 22/100 Weak
59 QuickLogic Corporation QUIK 21/100 Weak
60 Navitas Semiconductor Corporati NVTS 19/100 Weak
61 SEALSQ Corp LAES 18/100 Weak

See every General Corporate company ranked by moat score →

How ICG scores on the Corporate Default defenses

Pricing Power

Score 10 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 34 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 15 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 18 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 58 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 12 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding ICG's moat

What is Intchains Group Limited's moat score?

Intchains Group Limited (ICG) scores 24 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #57 of 66 scored companies in Semiconductors, the top 86%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 65 companies in Semiconductors. Its strongest defense is Resilience (58/100) and its weakest is Pricing Power (10/100).

How does Intchains Group Limited compare with other Semiconductors companies?

Intchains Group Limited ranks #57 of 66 scored companies in Semiconductors by moat score. The widest moat in Semiconductors is NVE Corporation (NVEC) at 86/100. The companies ranked closest are Pixelworks, Inc. (PXLW) at 25 just above it and Wolfspeed, Inc. (WOLF) at 22 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 65 companies in Semiconductors. The defenses are then weighted to produce the overall score out of 100.

Why is Intchains Group Limited scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Intchains Group Limited?

The Corporate Default template measures 6 defenses, and ICG scores: Pricing Power (10), Cost Advantage (34), Customer Stickiness (15), Capital Efficiency (18), Resilience (58), Scale & Market Position (12). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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