Mobase Electronics Co.Ltd (012860) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Mobase Electronics Co.Ltd KRW 2,911, price KRW 2,275, upside +28.0%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 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 2,275 KRW price screens below the 2,911 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 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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Mobase Electronics Co.,Ltd. engages in the manufacture and sale of automotive products in South Korea and internationally. 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 2,275 KRW, while our model-based Fair Value estimate is 2,911 KRW, implying the stock looks roughly 21.9% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 6,029 KRW per share, and 20 of the 26 models we run sit above the 2,275 KRW price.
Bear case: the Earnings-Based group reads lowest at 1,526 KRW, and 6 of the 26 models stay below the price. Evidence for this calculation is medium.
Scenario range: 1,833 KRW (bear) to 4,008 KRW (bull), the price of 2,275 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 53/100 (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 165B KRW (≈ $122M) · P/S ratio 0.16 · Dividend yield 1.8% · Net margin 1.9% · Return on equity 8.7% · Return on assets (EBIT) 4.0% · Operating margin 2.8% · Revenue (TTM) 1.0T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 62% below its 52-week high and 84% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −38% fair-value upside, at 28%, 012860 screens cheaper than that median.
Fair Value models
Bear 1,833 KRWFair Value 2,911 KRWBull 4,008 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.
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.
≈ +12.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.0%
Dividend (yield on the price)1.8%
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.16% vs −6%, 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%
Start year 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).
+21.6%
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 +19.1% a year for the price.
Compare Mobase Electronics Co.Ltd with another stock
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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 · 692 stocks
Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+28% · Above median
Profitability
Return on equity (TTM)9% · Above median
Return on assets3% · Below median
Net margin (TTM)2% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth0% · Below median
Dividend yield (TTM)1.8% · Below 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 Sep 24, 2026, our model estimates a fair value of 2,911 KRW versus a price of 2,275 KRW, about +28% 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 Sep 24, 2026), built from audited fundamentals. The current price: 2,275 KRW.
What is the quality score of 012860?
Mobase Electronics Co.Ltd has a Quality Score of 53/100. 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 Sep 24, 2026) from 26 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 +28% upside versus a price of 2,275 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 Sep 24, 2026).
Does Mobase Electronics Co.Ltd pay a dividend?
Mobase Electronics Co.Ltd currently shows a dividend yield of about 1.76% relative to its recent price (as of Sep 24, 2026).
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 +21.6 % 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 Sep 24, 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 2.07, 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 +21.6 % per year a year over ten years, 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 +21.6 % per year free-cash-flow growth a 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 +2.6 % a year. That is the yardstick for the growth priced into Mobase Electronics Co.Ltd (+21.6 % per year a 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 11.96 %: 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 Sep 24, 2026), against a price of 2,275 KRW. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Mobase Electronics Co.Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 012860 trades below its calculated fair value: price 2,275 KRW, fair value 2,911 KRW, a gap of about +28% (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 (2,275 KRW); the fair value is what the company's own numbers justify (2,911 KRW). For Mobase Electronics Co.Ltd the two are 636.06 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 165B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,275 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 Sep 24, 2026, price 2,275 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Mobase Electronics Co.Ltd (012860)?
Balance-sheet figures for Mobase Electronics Co.Ltd (as of Sep 24, 2026): return on equity 8.7%, debt of 0.13 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 012860 from its 52-week high?
Mobase Electronics Co.Ltd trades at 2,275 KRW, about 62% below its 52-week high of 6,030 KRW and 84% above the low of 1,238 KRW (as of Sep 23, 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 Sep 24, 2026: price 2,275 KRW, calculated fair value 2,911 KRW (+28%), Quality Score 53/100, from 26 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 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 2,911 KRW, 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 14.0 % above its aggregate fair value. Mobase Electronics Co.Ltd currently trades 28 % 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 Sep 23, 2026 was 2,275 KRW. Our model-based fair value is 2,911 KRW, about +28% 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 (53/100) 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 165B KRW (≈ $122M). 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 0.16 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Mobase Electronics Co.Ltd (012860)?
The dividend yield of Mobase Electronics Co.Ltd is 1.8%. 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 1.9% (fiscal year 2025). 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 8.7% (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 2.8% (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 +0.4% 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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