Mobase Electronics Co.Ltd (012860) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Mobase Electronics Co.Ltd stock KRW 2,911, price KRW 1,917, upside +51.9%, quality 52 out of 100. Rating: strongly undervalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 1,150 KRW – 6,030 KRW · fair‑value band 1,833 KRW – 4,008 KRW · the 1,917 KRW price screens below the 2,911 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Mobase Electronics Co.,Ltd. engages in the manufacture and sale of automotive products in South Korea and internationally.
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The company offers smart key systems, immobilizer systems, car lock sets, body control units and modules, power seat and steering column modules, low voltage DCDC converters and inverters, wireless chargers, cold/heated cup holders, multi-input devices, power window switches, steering wheel remote control switches, multi-function switches, and instrument panel switches.
It also provides electronic control system, convenience control system, power control system, security system, steering wheel, steering column lock, seat frames, medical device structures and cases, electronic tool frames, optical device frames, cosmetic accessory tools, and IT product casings.
The company was formerly known as Seoyon Electronics Co., Ltd. and changed its name to Mobase Electronics Co.,Ltd. in October 2019. Mobase Electronics Co.,Ltd. was founded in 1978 and is headquartered in Suwon-si, South Korea.
Stock analysis
Mobase Electronics Co.Ltd (012860) currently trades at 1,917 KRW, while our model-based Fair Value estimate is 2,911 KRW, implying the stock looks roughly 34% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 5,344 KRW per share, and 20 of the 25 models we run sit above the 1,917 KRW price.
Bear case: the Earnings-Based group reads lowest at 2,019 KRW, and 5 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 1,833 KRW (bear) to 4,008 KRW (bull), the price of 1,917 KRW sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Mobase Electronics Co.Ltd reported revenue of 1.0T KRW in FY2025 versus 765B KRW in FY2021, a compound +8.1%/yr. Reported net income was 19.9B KRW in FY2025, compounding +23.3%/yr from FY2021.
Key figures
Market cap 139B KRW (≈ $103M) Micro · P/E ratio 5.7 · P/S ratio 0.13 · EPS (TTM) 331.03 KRW · Dividend yield 2.1% · Net margin 2.3% · Return on equity 9.9% · Return on assets (EBIT) 4.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (medium confidence).
What moves the price
The share trades about 68% below its 52-week high and 53% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −23% fair-value upside, at 52%, 012860 screens cheaper than that median.
Fair Value models
Bear1,833 KRWFair Value 2,911 KRWBull4,008 KRW
Price 1,917 KRW · Upside +51.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (249.57 KRW per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF2,412 KRW3,201 KRW4,076 KRW82
Growth DCF2,409 KRW3,097 KRW3,822 KRW80
Residual Income2,333 KRW2,329 KRW2,439 KRW76
All 25 models by family
DCF Models
FCF DCF2,412 KRW3,201 KRW4,076 KRW82
5Y Revenue Exit3,140 KRW5,029 KRW7,390 KRW72
5Y EBITDA Exit4,699 KRW7,881 KRW11,527 KRW74
5Y P/E Exit2,963 KRW4,706 KRW6,480 KRW71
10Y Revenue Exit2,643 KRW3,969 KRW5,664 KRW67
10Y EBITDA Exit3,456 KRW5,428 KRW7,966 KRW68
10Y P/E Exit2,636 KRW3,804 KRW5,157 KRW64
Earnings-Based
Graham-Dodd1,864 KRW5,263 KRW6,928 KRW65
Lynch FV1,069 KRW1,526 KRW1,984 KRW61
PEG = 1.01,069 KRW1,526 KRW1,984 KRW57
EPV2,257 KRW2,512 KRW2,711 KRW74
Dividend Discount
Gordon GGM30.90 KRW46.67 KRW56.41 KRW69
DDM Multi-Stage30.90 KRW42.43 KRW50.57 KRW67
Multiples
P/E Multiple4,522 KRW6,029 KRW7,536 KRW63
P/S Multiple3,494 KRW4,659 KRW5,824 KRW58
P/B Multiple1,330 KRW1,773 KRW2,217 KRW55
EV/EBIT3,913 KRW6,191 KRW8,468 KRW64
EV/EBITDA5,668 KRW8,531 KRW11,393 KRW66
EV/Revenue1,686 KRW3,660 KRW5,634 KRW51
Asset-Based
NCAV (Graham)1,542 KRW2,066 KRW3,083 KRW54
Growth DCF
Growth DCF2,409 KRW3,097 KRW3,822 KRW80
Rev-Margin DCF3,140 KRW5,053 KRW7,194 KRW72
Economic Profit
Residual Income2,333 KRW2,329 KRW2,439 KRW76
ROIC Compounder2,257 KRW2,512 KRW2,711 KRW72
Growth Earnings
Growth-Adj P/E3,604 KRW5,148 KRW6,693 KRW67
The fair value above starts from this blend and is adjusted for a cyclical peak year.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.66/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.8%
Start year 2020 (pandemic). Over 10 years: +3.8% a year
Revenue growth 24 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.0%
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What shareholders gained per year (last 5 years), in KRW ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +13.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.0%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.15.8% vs −5.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.0% → 4%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 6.9%/yr over ~7Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Rate on operating basis: 2025 sits 115% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +17.6% a year for the price.
Compare Mobase Electronics Co.Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Auto Parts · 655 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+51.9% · Top 25%
Profitability
Return on equity (12 months)9.9% · Above median
Return on assets2.6% · Below median
Net margin (12 months)2.3% · Below median
Operating margin (12 months)1.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−0.1% · Below median
Dividend yield (12 months)2.1% · Above median
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Auto Parts median · lower = cheaper
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Is Mobase Electronics Co.Ltd (012860) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 2,911 KRW versus a price of 1,917 KRW, about +52% upside (undervalued).
What is the fair value of 012860?
Our model-based fair value for Mobase Electronics Co.Ltd is 2,911 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 1,917 KRW.
What is the quality score of 012860?
Mobase Electronics Co.Ltd has a Quality Score of 52/100. 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 price target for Mobase Electronics Co.Ltd (012860)?
Our model-based price target is the fair value of 2,911 KRW (as of Nov 8, 2026) from 25 valuation models. Cautious scenario 1,833 KRW, optimistic scenario 4,008 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Mobase Electronics Co.Ltd stock forecast for 2026?
Our models put fair value at 2,911 KRW, about +52% upside versus a price of 1,917 KRW (undervalued). Cautious scenario 1,833 KRW, optimistic scenario 4,008 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Mobase Electronics Co.Ltd (012860)?
Mobase Electronics Co.Ltd reported trailing-twelve-month revenue of about 1.0T KRW (latest available figure, as of Nov 8, 2026).
Does Mobase Electronics Co.Ltd pay a dividend?
Mobase Electronics Co.Ltd currently shows a dividend yield of 2.09% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Mobase Electronics Co.Ltd (012860) and when is the ex-dividend date?
Mobase Electronics Co.Ltd pays a dividend of 40.00 KRW per share a year, a dividend yield of 2.1%. The last ex-dividend date was Dec 29, 2025. The payout ratio is 12.1% of earnings. Free cash flow covers the dividend 6.80 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Mobase Electronics Co.Ltd (012860)?
For today's price to be fair in a discounted-cash-flow model, Mobase Electronics Co.Ltd would have to grow free cash flow by +20.1 % per year for five years (discount rate 15.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.8 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 012860 use?
Our models discount Mobase Electronics Co.Ltd at 15.6 %: a base by market capitalisation (micro), damped by beta 2.12, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Mobase Electronics Co.Ltd that is +20.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (15.6 %) and the same formula as our fair value.
How much growth has Mobase Electronics Co.Ltd (012860) delivered so far?
Over the past 5 years revenue at Mobase Electronics Co.Ltd grew +5.8 % a year. The price currently implies free-cash-flow growth of +20.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Mobase Electronics Co.Ltd (012860) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Mobase Electronics Co.Ltd (+20.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Mobase Electronics Co.Ltd (012860)?
The free-cash-flow yield on the price is 14.19 %: that much free cash flow Mobase Electronics Co.Ltd produces per unit of market value. When it exceeds the discount rate of our models (15.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mobase Electronics Co.Ltd (012860)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mobase Electronics Co.Ltd it is 2,911 KRW per share (as of Nov 8, 2026), against a price of 1,917 KRW. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Mobase Electronics Co.Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 012860 trades below its calculated fair value: price 1,917 KRW, fair value 2,911 KRW, a gap of about +52% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 012860?
No. The price is what the market pays today (1,917 KRW); the fair value is what the company's own numbers justify (2,911 KRW). For Mobase Electronics Co.Ltd the two are 994.06 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Mobase Electronics Co.Ltd worth?
The market values Mobase Electronics Co.Ltd at about 139B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 1,917 KRW; our models calculate a fair value of 2,911 KRW per share.
What do the bullish and bearish scenarios say about 012860?
Our models span a range for Mobase Electronics Co.Ltd: cautious scenario 1,833 KRW, base 2,911 KRW, optimistic 4,008 KRW per share (as of Nov 8, 2026, price 1,917 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 012860?
Mobase Electronics Co.Ltd trades at a price-to-earnings ratio of 5.7 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2,911 KRW is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2016 to 2025), reported earnings: 8.7. Other multiples: P/B 0.6, P/S 0.1, EV/EBITDA 2.6.
How solid is the balance sheet of Mobase Electronics Co.Ltd (012860)?
Balance-sheet figures for Mobase Electronics Co.Ltd (as of Nov 8, 2026): return on equity 9.9%, debt of 0.13 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 012860 from its 52-week high?
Mobase Electronics Co.Ltd trades at 1,917 KRW, about 68% below its 52-week high of 6,030 KRW and 53% above the low of 1,250 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 2,911 KRW is for.
Which stocks are comparable to Mobase Electronics Co.Ltd?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Mobase Electronics Co.Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price 1,917 KRW, calculated fair value 2,911 KRW (+52%), Quality Score 52/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 012860 calculated?
We run Mobase Electronics Co.Ltd through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 2,911 KRW builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Mobase Electronics Co.Ltd currently trades 34% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Mobase Electronics Co.Ltd (012860)?
The closing price on Nov 6, 2026 was 1,917 KRW. Our model-based fair value is 2,911 KRW, about +52% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mobase Electronics Co.Ltd right now?
Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (1,833 KRW to 4,008 KRW) leaves room in how you read the outcome.
Key figures of Mobase Electronics Co.Ltd
How large is the market capitalisation of Mobase Electronics Co.Ltd (012860)?
The market capitalisation of Mobase Electronics Co.Ltd is 139B KRW (≈ $103M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Mobase Electronics Co.Ltd (012860)?
The price-to-sales ratio of Mobase Electronics Co.Ltd is 0.13 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Mobase Electronics Co.Ltd (012860)?
Earnings per share at Mobase Electronics Co.Ltd are 331.03 KRW (price ÷ EPS = P/E 5.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mobase Electronics Co.Ltd (012860)?
The dividend yield of Mobase Electronics Co.Ltd is 2.1% (payout 12.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Mobase Electronics Co.Ltd (012860)?
The net margin of Mobase Electronics Co.Ltd is 2.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Mobase Electronics Co.Ltd (012860)?
The return on equity (ROE) of Mobase Electronics Co.Ltd is 9.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Mobase Electronics Co.Ltd (012860)?
On an EBIT basis the return on assets of Mobase Electronics Co.Ltd is 4.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Mobase Electronics Co.Ltd (012860)?
The operating margin of Mobase Electronics Co.Ltd is 1.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mobase Electronics Co.Ltd (012860)?
Revenue at Mobase Electronics Co.Ltd is growing −0.1% versus a year earlier (3y avg +4.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Mobase Electronics Co.Ltd (012860)?
Earnings per share at Mobase Electronics Co.Ltd are growing +17.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mobase Electronics Co.Ltd (012860) carry?
The net debt of Mobase Electronics Co.Ltd is 212B KRW (fiscal year 2025, ≈ 10.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 8, 2026