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TCL Technology Group (000100) Fair Value & Analysis

Technology · CN · Market cap 103B CNY

TT TCL Technology Group 000100 · SHE
Price¥4.82
Fair Value¥4.78
Upside-0.8%
Quality45/100
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Healthy Growth
Thin margins · 2.7% net margin
High debt · generates free cash flow
1.76% dividend yield
Mixed vs. peers (7/14)
Narrow moat 24/100
Evidence: Medium Range ¥3.58 – ¥5.97 Share as image

Fair value as of: Jul 15, 2026

From 22 valuation models · updated 23 days ago

Share price −8.4% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ¥3.58 (bear) to ¥5.97 (bull), base ¥4.78. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 45/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥8.45 ¥3.12 Fair Value ¥4.78 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range ¥3.12 – ¥8.45 · fair‑value band ¥3.58 – ¥5.97 · the ¥4.82 price screens above the ¥4.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

TCL Technology Group (000100) currently trades at ¥4.82, while our model-based Fair Value estimate is ¥4.78, implying the stock looks roughly 0.8% fairly valued today. We read business quality at 45/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, TCL Technology Group generated revenue of 188B CNY at a net margin of 2.7%. Revenue grew 8.4% year over year. It earns a return on equity of 0.5%. Net debt stands at 144B CNY. Fundamentals as of Jul 15, 2026

Our scenario range runs from ¥3.58 (bear case) to ¥5.97 (bull case); at ¥4.82, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 19% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -1%, 000100 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥14.00 ¥26.65 ¥47.42 80
Residual Income ¥2.41 ¥2.55 ¥2.79 76
Rev-Margin DCF ¥1.83 ¥3.38 ¥5.39 74
All 22 models by family
DCF Models
FCF DCF ¥13.99 ¥27.34 ¥49.60 38
Owner Earnings ¥8.27 ¥17.50 ¥32.88 31
5Y Revenue Exit ¥1.83 ¥3.07 ¥4.24 39
5Y EBITDA Exit ¥11.36 ¥22.10 ¥35.14 41
5Y P/E Exit ¥3.58 ¥6.57 ¥9.65 38
10Y Revenue Exit ¥5.85 ¥8.27 ¥11.02 36
10Y EBITDA Exit ¥12.10 ¥21.97 ¥36.11 37
10Y P/E Exit ¥7.01 ¥10.79 ¥15.41 35
Earnings-Based
Graham-Dodd ¥1.48 ¥6.10 ¥8.32 54
Lynch FV ¥1.54 ¥2.20 ¥2.86 50
PEG = 1.0 ¥1.54 ¥2.20 ¥2.86 46
Dividend Discount
Gordon GGM ¥0.4400 ¥0.9100 ¥1.44 70
DDM Multi-Stage ¥0.4400 ¥0.7600 ¥0.9500 61
Multiples
P/E Multiple ¥3.26 ¥4.34 ¥5.43 63
P/S Multiple ¥2.77 ¥3.69 ¥4.61 58
P/B Multiple ¥2.77 ¥3.69 ¥4.61 55
EV/EBITDA ¥11.48 ¥16.81 ¥22.14 54
Asset-Based
NCAV (Graham) ¥1.48 ¥1.98 ¥2.95 50
Growth DCF
Growth DCF ¥14.00 ¥26.65 ¥47.42 80
Rev-Margin DCF ¥1.83 ¥3.38 ¥5.39 74
Economic Profit
Residual Income ¥2.41 ¥2.55 ¥2.79 76
Growth Earnings
Growth-Adj P/E ¥2.57 ¥3.67 ¥4.77 68

Widest divergence: DCF Models (¥10.79) versus Dividend Discount (¥0.7600). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 188B CNY
Revenue growth (YoY) +8.4%
Net margin 2.7%
Return on equity 0.5%
Free cash flow 31.1B CNY FY2025
P/E ratio 20.4
More key figures
Operating margin 3.6%
EPS (TTM) ¥0.2400
Dividend yield 1.8%
EPS growth (YoY) +26.5%
Net debt 144B CNY FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 42 · Market factors (momentum, volatility) 55

Profitability 24
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 17
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

TCL Technology Group Corporation, together with its subsidiaries, engages in the advanced manufacturing industry in Mainland China and internationally. The company operates through four segments: Semiconductor Display Business; New Energy Photovoltaic and Other Silicon Materials Business; Distribution Business; and Other Businesses.

Full company description

TCL Technology Group Corporation, together with its subsidiaries, engages in the advanced manufacturing industry in Mainland China and internationally. The company operates through four segments: Semiconductor Display Business; New Energy Photovoltaic and Other Silicon Materials Business; Distribution Business; and Other Businesses. The Semiconductor Display Business segment is involved in the research and development, manufacturing, and sale of semiconductor display panels, semiconductor display modules, and display machine processing. The New Energy Photovoltaic and Other Silicon Materials Business segment engages in the research and development of monocrystalline silicon rods and wafers, cells and modules, and other silicon materials and devices. This segment is also involved in the production and sale of photovoltaic power plants; and development and operation of photovoltaic power plants. The Distribution Business segment engages in the sale of electronic products, such as computers, software, tablet computers, mobile phones, etc. The Other Businesses segment is involved in the industrial finance and investment business; and provision of technology development services and patent protection services. The company was formerly known as TCL Corporation and changed its name to TCL Technology Group Corporation in February 2020. TCL Technology Group Corporation was founded in 1981 and is based in Huizhou, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TCL Technology Group reported revenue of ¥184B in FY2025 versus ¥164B in FY2021, a compound +2.9%/yr. Reported net income was ¥4.5B in FY2025, compounding −18.2%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
184B CNY
Latest YoY
+11.4%
Avg. growth/yr (3Y)
+3.3%
Avg. growth/yr (5Y)
+19.1%
Avg. growth/yr (25Y)
+11.9%
Revenue +2.9%/yr
FY21 ¥164B
FY22 ¥167B
FY23 ¥174B
FY24 ¥165B
FY25 ¥184B
Net income −18.2%/yr
FY21 ¥10.1B
FY22 ¥261M
FY23 ¥2.2B
FY24 ¥1.6B
FY25 ¥4.5B

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Cite: Fair Value Calculator (2026). "TCL Technology Group Fair Value". https://www.fairvalue-calculator.com/stock/000100

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Semiconductor Equipment & Materials · 208 stocks

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.

Quality Score 45 · Bottom 25%
Fair Value upside −1% · Top 25%
Return on equity (TTM) 0% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 8% · Below median
Dividend yield (TTM) 1.8% · Above median
Debt / equity 2.02× · Higher than 75% of peers

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 20.6× · Cheaper than 75% of peers
P/B 1.68× · Cheaper than median
P/S (TTM) 0.55× · Cheaper than 75% of peers
P/FCF 0.5× · Cheaper than median
EV/EBITDA 6.1× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 32 · sector 0
FUTURE 42 · sector 58
PAST 2 · sector 30
HEALTH 0 · sector 96
DIVIDEND 35 · sector 17

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is TCL Technology Group (000100) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of ¥4.78 versus a price of ¥4.82, about −1% (fairly valued).
What is the fair value of 000100?
Our model-based fair value for TCL Technology Group is ¥4.78 (as of Jul 15, 2026), built from audited fundamentals. The current price is ¥4.82.
What is the quality score of 000100?
TCL Technology Group has a Quality Score of 45/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of TCL Technology Group (000100)?
TCL Technology Group reported trailing-twelve-month revenue of about 188B CNY (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 000100?
The net profit margin of TCL Technology Group is about 2.7%, meaning it keeps roughly 2.7% of revenue as net income. Based on the latest reported figures.
Does TCL Technology Group pay a dividend?
TCL Technology Group currently shows a dividend yield of about 1.83% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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