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TBH Global Co (084870) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 38.7B KRW

TG TBH Global Co 084870 · KO
Price2,180 KRW
Fair Value1,415 KRW
Upside-35.1%
Quality69/100
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Weak Growth
Thin margins · 0.6% net margin
Low debt · generates free cash flow
2.61% dividend yield
Ranks above peers (6/10)
Narrow moat 25/100
Evidence: High Range 1,016 KRW – 1,557 KRW Share as image

Fair value as of: Jul 24, 2026

From 22 valuation models · updated 17 days ago

Share price +11.2% over the past month.

A solid business, but screening 35% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1,557 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

2,899 KRW 989.63 KRW Fair Value 1,415 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 989.63 KRW – 2,899 KRW · fair‑value band 1,016 KRW – 1,557 KRW · the 2,180 KRW price screens above the 1,415 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

TBH Global Co (084870) currently trades at 2,180 KRW, while our model-based Fair Value estimate is 1,415 KRW, implying the stock looks roughly 35.1% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Consumer Cyclical 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: high).

Over the trailing twelve months, TBH Global Co generated revenue of 189B KRW at a net margin of 0.6%. Revenue grew 16.9% year over year. It earns a return on equity of 3.1%. Net debt stands at 5.7B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 1,016 KRW (bear case) to 1,557 KRW (bull case); at 2,180 KRW, the current price sits above 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 11% below its 52-week high and 108% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -3% fair-value upside, at -35%, 084870 screens richer 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 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
Highest evidence
Growth DCF 5,890 KRW 7,876 KRW 11,272 KRW 80
Residual Income 2,056 KRW 1,926 KRW 1,456 KRW 76
Rev-Margin DCF 3,234 KRW 4,072 KRW 5,159 KRW 74
All 22 models by family
DCF Models
FCF DCF 5,647 KRW 7,693 KRW 11,482 KRW 38
Owner Earnings 3,004 KRW 4,012 KRW 5,878 KRW 31
5Y Revenue Exit 3,234 KRW 3,950 KRW 4,979 KRW 39
5Y EBITDA Exit 4,655 KRW 6,411 KRW 8,738 KRW 41
5Y P/E Exit 2,819 KRW 3,232 KRW 3,743 KRW 38
10Y Revenue Exit 4,105 KRW 4,724 KRW 5,333 KRW 36
10Y EBITDA Exit 5,004 KRW 6,246 KRW 7,540 KRW 37
10Y P/E Exit 3,890 KRW 4,280 KRW 4,608 KRW 35
Earnings-Based
Graham-Dodd 294.01 KRW 359.34 KRW 404.26 KRW 54
EPV 1,170 KRW 1,292 KRW 1,399 KRW 59
Multiples
P/E Multiple 713.40 KRW 951.20 KRW 1,189 KRW 63
P/S Multiple 551.27 KRW 735.02 KRW 918.78 KRW 58
P/B Multiple 551.27 KRW 735.02 KRW 918.78 KRW 55
EV/EBIT 2,516 KRW 3,208 KRW 3,901 KRW 53
EV/EBITDA 4,641 KRW 6,042 KRW 7,443 KRW 54
EV/Revenue 1,838 KRW 2,439 KRW 3,039 KRW 43
Asset-Based
NCAV (Graham) 1,486 KRW 1,991 KRW 2,972 KRW 50
Growth DCF
Growth DCF 5,890 KRW 7,876 KRW 11,272 KRW 80
Rev-Margin DCF 3,234 KRW 4,072 KRW 5,159 KRW 74
Economic Profit
Residual Income 2,056 KRW 1,926 KRW 1,456 KRW 76
ROIC Compounder 1,170 KRW 1,292 KRW 1,399 KRW 72
Growth Earnings
Growth-Adj P/E 502.89 KRW 718.42 KRW 933.94 KRW 68

Widest divergence: DCF Models (4,280 KRW) versus Earnings-Based (359.34 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 189B KRW
Revenue growth (YoY) +16.9%
Net margin 0.6%
Return on equity 3.1%
Free cash flow 11.0B KRW FY2025
Operating margin -1.9%
More key figures
Dividend yield 2.8%
EPS growth (YoY) +96.5%
Net debt 5.7B KRW FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 68 · Market factors (momentum, volatility) 77

Profitability 51
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 79
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 94
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

TBH Global Co., Ltd, together with its subsidiaries, produces, sells, and distributes men's and women's clothing products in Korea. The company offers its products under the Basic House, Mind Bridge, Jucy Judy, and Aquascutum brands. It offers its products through own brand stores and online.

Full company description

TBH Global Co., Ltd, together with its subsidiaries, produces, sells, and distributes men's and women's clothing products in Korea. The company offers its products under the Basic House, Mind Bridge, Jucy Judy, and Aquascutum brands. It offers its products through own brand stores and online. The company is also involved in the rental of investment properties. The company was formerly known as The Basic House Co., Ltd. and changed its name to TBH Global Co., Ltd in April 2016. TBH Global Co., Ltd was founded in 1964 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TBH Global Co reported revenue of 182B KRW in FY2025 versus 188B KRW in FY2021, a compound −0.8%/yr. Reported net income was 885M KRW in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
182B KRW
Latest YoY
+2.2%
Avg. growth/yr (3Y) 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.
−3.5%
Avg. growth/yr (5Y) 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.
+1.0%
Avg. growth/yr (18Y) 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.
−1.4%
Revenue −0.8%/yr
FY21 188B KRW
FY22 203B KRW
FY23 197B KRW
FY24 178B KRW
FY25 182B KRW
Net income
FY21 −19.6B KRW
FY22 4.9B KRW
FY23 6.7B KRW
FY24 −724M KRW
FY25 885M KRW

084870 screens 35% overvalued. Compare with H & M Hennes & Mauritz AB →

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Cite: Fair Value Calculator (2026). "TBH Global Co Fair Value". https://www.fairvalue-calculator.com/stock/084870

Peer Group

Apparel Manufacturing · 212 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 69 · Top 25%
Fair Value upside −35% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 3% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) -2% · Below median
Revenue growth 17% · Top 25%
Dividend yield (TTM) 2.6% · Above median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/FCF 0.0× · 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 0 · sector 32
FUTURE 85 · sector 4
PAST 12 · sector 21
HEALTH 100 · sector 98
DIVIDEND 52 · sector 49

VALUE 0: the price sits above our fair-value range.

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 163.45 kr 165.47 +1%
Ralph Lauren Corporation RL $374.08 $224.21 -40%
Moncler S.p.A MONC €52.08 €50.69 -3%
Gildan Activewear Inc GIL C$73.17 C$32.85 -55%
LPP SA LPP 19,380 PLN 17,754 PLN -8%
Bosideng International Holdings 3998 HK$4.88 HK$5.92 +21%
Youngor Fashion Co 600177 ¥7.57 ¥5.59 -26%
Page Industries Limited PAGEIND ₹39,900 ₹12,395 -69%
Hla Group 600398 ¥6.05 ¥9.92 +64%
Eclat Textile Co 1476 333.50 TWD 357.81 TWD +7%

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Frequently asked questions

Is TBH Global Co (084870) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 1,415 KRW versus a price of 2,180 KRW, about −35% (overvalued).
What is the fair value of 084870?
Our model-based fair value for TBH Global Co is 1,415 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 2,180 KRW.
What is the quality score of 084870?
TBH Global Co has a Quality Score of 69/100. 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 revenue of TBH Global Co (084870)?
TBH Global Co reported trailing-twelve-month revenue of about 189B KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 084870?
The net profit margin of TBH Global Co is about 0.6%, meaning it keeps roughly 0.6% of revenue as net income. Based on the latest reported figures.
Does TBH Global Co pay a dividend?
TBH Global Co currently shows a dividend yield of about 2.78% relative to its recent price (as of Jul 24, 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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