TBH Global Co Ltd (084870) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of TBH Global Co Ltd KRW 1,937, price KRW 2,220, upside -12.7%, quality 69 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 989.63 KRW – 2,899 KRW · the 2,220 KRW price screens above the 1,937 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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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.
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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.
Stock analysis
TBH Global Co Ltd (084870) currently trades at 2,220 KRW, while our model-based Fair Value estimate is 1,937 KRW, implying the stock looks roughly 14.6% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 4,422 KRW per share, and 13 of the 22 models we run sit above the 2,220 KRW price.
Bear case: the Earnings-Based group reads lowest at 359.34 KRW, and 9 of the 22 models stay below the price. Evidence for this calculation is medium.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
TBH Global Co Ltd 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.
Key figures
Market cap 45.4B KRW (≈ $33.4M) · P/S ratio 0.20 · Dividend yield 2.3% · Net margin 0.5% · Return on equity 3.1% · Return on assets (EBIT) 3.9% · Operating margin −1.9% · Revenue (TTM) 189B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 90% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −1% fair-value upside, at −13%, 084870 screens richer than that median.
Fair Value models
Bear 1,937 KRWFair Value 1,937 KRWBull 1,937 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+2.2%
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.
−3.5%
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.
+1.0%
Start year 2020 (pandemic). Over 10 years: −12.1% a year
Revenue growth 18 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.
−1.4%
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What shareholders gained per year (last 3 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 3 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.
−13.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−15.6%
Dividend (yield on the price)2.3%
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.−4% → 2%
⚠ Revenue per share shrinking 2.1%/yr over ~6Y (margins eroding too) ⓘ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.
Growth Forecast
Little optimism in the price
The price assumes less 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).
−18.2%
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 −19.9% a year for the price.
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.Apparel Manufacturing · 228 stocks
Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside−13% · Below median
Profitability
Return on equity (TTM)3% · Below median
Return on assets3% · Above median
Net margin (TTM)1% · Below median
Operating margin (TTM)−2% · Below median
Growth and dividend
Revenue growth17% · Top 25%
Dividend yield (TTM)2.3% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Apparel Manufacturing median · lower = cheaper
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Cite: Fair Value Calculator (2026). "TBH Global Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/084870
Frequently asked questions
Is TBH Global Co Ltd (084870) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,937 KRW versus a price of 2,220 KRW, about −13% upside (overvalued).
What is the fair value of 084870?
Our model-based fair value for TBH Global Co Ltd is 1,937 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,220 KRW.
What is the quality score of 084870?
TBH Global Co Ltd 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 price target for TBH Global Co Ltd (084870)?
Our model-based price target is the fair value of 1,937 KRW (as of Sep 24, 2026) from 22 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the TBH Global Co Ltd stock forecast for 2026?
Our models put fair value at 1,937 KRW, about −13% upside versus a price of 2,220 KRW (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of TBH Global Co Ltd (084870)?
TBH Global Co Ltd reported trailing-twelve-month revenue of about 189B KRW (latest available figure, as of Sep 24, 2026).
Does TBH Global Co Ltd pay a dividend?
TBH Global Co Ltd currently shows a dividend yield of about 2.25% relative to its recent price (as of Sep 24, 2026).
What growth is priced into TBH Global Co Ltd (084870)?
For today's price to be fair in a discounted-cash-flow model, TBH Global Co Ltd would have to grow free cash flow by -18.2 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 084870 use?
Our models discount TBH Global Co Ltd at 8.9 %: a base by market capitalisation (nano), damped by beta 0.50, 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 TBH Global Co Ltd that is -18.2 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has TBH Global Co Ltd (084870) delivered so far?
Over the past 5 years revenue at TBH Global Co Ltd grew +1.1 % a year. The price currently implies -18.2 % 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 TBH Global Co Ltd (084870) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into TBH Global Co Ltd (-18.2 % 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 TBH Global Co Ltd (084870)?
The free-cash-flow yield on the price is 24.15 %: that much free cash flow TBH Global Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TBH Global Co Ltd (084870)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TBH Global Co Ltd it is 1,937 KRW per share (as of Sep 24, 2026), against a price of 2,220 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is TBH Global Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 084870 trades above its calculated fair value: price 2,220 KRW, fair value 1,937 KRW, a gap of about −13% (overvalued). 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 084870?
No. The price is what the market pays today (2,220 KRW); the fair value is what the company's own numbers justify (1,937 KRW). For TBH Global Co Ltd the two are 282.84 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is TBH Global Co Ltd worth?
The market values TBH Global Co Ltd at about 45.4B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,220 KRW; our models calculate a fair value of 1,937 KRW per share.
How solid is the balance sheet of TBH Global Co Ltd (084870)?
Balance-sheet figures for TBH Global Co Ltd (as of Sep 24, 2026): return on equity 3.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is 084870 from its 52-week high?
TBH Global Co Ltd trades at 2,220 KRW, about 8% below its 52-week high of 2,410 KRW and 90% above the low of 1,170 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,937 KRW is for.
Which stocks are comparable to TBH Global Co Ltd?
From the same area (Consumer Cyclical) we also value Ralph Lauren Corporation, Moncler S.p.A, Gildan Activewear Inc, LPP SA, 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 TBH Global Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 2,220 KRW, calculated fair value 1,937 KRW (−13%), Quality Score 69/100, from 22 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 084870 calculated?
We run TBH Global Co Ltd through 22 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 1,937 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. TBH Global Co Ltd itself currently trades above fair value. 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 TBH Global Co Ltd (084870)?
The closing price on Sep 23, 2026 was 2,220 KRW. Our model-based fair value is 1,937 KRW, about −13% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TBH Global Co Ltd right now?
The price sits above even our optimistic bull case (1,937 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.
Key figures of TBH Global Co Ltd
How large is the market capitalisation of TBH Global Co Ltd (084870)?
The market capitalisation of TBH Global Co Ltd is 45.4B KRW (≈ $33.4M). 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 TBH Global Co Ltd (084870)?
The price-to-sales ratio of TBH Global Co Ltd is 0.20 (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 TBH Global Co Ltd (084870)?
The dividend yield of TBH Global Co Ltd is 2.3%. 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 TBH Global Co Ltd (084870)?
The net margin of TBH Global Co Ltd is 0.5% (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 TBH Global Co Ltd (084870)?
The return on equity (ROE) of TBH Global Co Ltd is 3.1% (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 TBH Global Co Ltd (084870)?
On an EBIT basis the return on assets of TBH Global Co Ltd is 3.9% (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 TBH Global Co Ltd (084870)?
The operating margin of TBH Global Co Ltd is −1.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TBH Global Co Ltd (084870)?
Revenue at TBH Global Co Ltd is growing +16.9% versus a year earlier (3y avg −3.5%). 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 TBH Global Co Ltd (084870)?
Earnings per share at TBH Global Co Ltd are growing +96.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does TBH Global Co Ltd (084870) carry?
The net debt of TBH Global Co Ltd is 5.7B KRW (fiscal year 2025, ≈ 0.5 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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