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STOCK COMPARISON

TES Co. vs Nh Spac 8: Fair Value & Quality

Both stocks run through our valuation models. Here is how TES Co. (095610) and Nh Spac 8 (218410) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Nh Spac 8 as the less overvalued of the two: TES Co. trades at KRW 146,800 versus a fair value of KRW 57,543 (-61%), while Nh Spac 8 trades at KRW 48,300 versus KRW 29,096 (-40%).
TES Co.
095610.KQ · KRW · Information Technology
-61%
upside to fair value
overvalued
PriceKRW 146,800
Fair ValueKRW 57,543
Quality69/100
Nh Spac 8
218410.KQ · KRW · Information Technology
-40%
upside to fair value
overvalued
PriceKRW 48,300
Fair ValueKRW 29,096
Quality70/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

TES Co.Nh Spac 8
Valuation
0.7×EV/EBITDA
−60.8%Fair value upside−39.8%
1.9%Dividend yield0.5%
Profitability
14%Operating margin1%
1.32×EBIT margin trend (5Y)
Return on equity245%
9%Return on assets0%
Growth
67%Revenue growth (YoY)54%
-0.6%Avg. growth/yr (3Y)19.8%
7.4%Avg. growth/yr (5Y)21.4%
+17.2%Value creation/yr+38.0%
Balance & size
91.2×Interest coverage (EBIT/interest)14.6×
0.12×Debt / equity0.14×
$2BMarket cap$852M
healthyGrowth qualityhealthy

TES Co. leads: 5 to 4 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

TES Co.of which business quality 68 · market factors 71 Nh Spac 8of which business quality 68 · market factors 48
ProfitabilityMargins and returns on capital today
56
37
Quality GrowthAre margins and returns improving?
73
84
CashflowEarnings quality: real cash, not paper profit
62
59
Fin. StrengthBalance sheet, leverage, solvency risk
80
79
InvestmentDisciplined investing over empire-building
50
78
Low VolatilityCalm price path (market factor)
25
50
MomentumPrice trend over the last 3–12 months (market factor)
97
39
52W MomentumDistance to the 52-week high (market factor)
79
62
Net IssuanceBuybacks instead of dilution
87
88

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyTES Co.Price KRW 146,800Nh Spac 8Price KRW 48,300
DCF Models-47%below the priceKRW 77,108-24%below the priceKRW 36,653
Earnings-Based-55%below the priceKRW 65,569-67%below the priceKRW 16,007
Dividend Discount-93%below the priceKRW 10,171-96%below the priceKRW 2,071
Multiples-64%below the priceKRW 53,527-45%below the priceKRW 26,737
Asset-Based-91%below the priceKRW 13,279-80%below the priceKRW 9,692
Growth DCF-51%below the priceKRW 71,996-44%below the priceKRW 26,910
Economic Profit-76%below the priceKRW 35,415-66%below the priceKRW 16,375
Growth Earnings-33%below the priceKRW 98,083-42%below the priceKRW 28,231
Minimum-93%below the priceKRW 10,171-96%below the priceKRW 2,071
Maximum-33%below the priceKRW 98,083-24%below the priceKRW 36,653
Median-59%below the priceKRW 59,548-55%below the priceKRW 21,556
Geometric mean-72%below the priceKRW 41,699-67%below the priceKRW 15,817

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

TES Co.: 26 of 26 models see the stock below the current price.

Nh Spac 8: 26 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

TES Co.
Bear KRW 40,415Fair Value KRW 57,543Bull KRW 72,492
KRW 146,800 = current price (white tick)
Nh Spac 8
Bear KRW 20,709Fair Value KRW 29,096Bull KRW 36,604
KRW 48,300 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

TES Co. · Information Technology

Quality score69 · Top 25%
Fair value upside-61% · below median

Nh Spac 8 · Information Technology

Quality score70 · Top 25%
Fair value upside-40% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Nh Spac 8 as the less overvalued of the two: TES Co. trades at KRW 146,800 versus a fair value of KRW 57,543 (-61%), while Nh Spac 8 trades at KRW 48,300 versus KRW 29,096 (-40%).

Nh Spac 8 has the higher quality score (70/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.