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Yellow Balloon Tour Co (104620) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 51.4B KRW

YB Yellow Balloon Tour Co 104620 · KQ
Price3,200 KRW
Fair Value5,118 KRW
Upside+59.9%
Quality46/100
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Mixed Growth
Loss-making · -0.6% net margin
Low debt · generates free cash flow
Mixed vs. peers (4/9)
Narrow moat 27/100
Evidence: High Range 3,689 KRW – 6,129 KRW Share as image

Fair value as of: Jul 20, 2026

From 15 valuation models · updated 21 days ago

Share price −4.8% over the past month.

Below-average quality, screening 60% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (3,689 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

19,100 KRW 2,800 KRW Fair Value 5,118 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 2,800 KRW – 19,100 KRW · fair‑value band 3,689 KRW – 6,129 KRW · the 3,200 KRW price screens below the 5,118 KRW fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Yellow Balloon Tour Co (104620) currently trades at 3,200 KRW, while our model-based Fair Value estimate is 5,118 KRW, implying the stock looks roughly 59.9% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Yellow Balloon Tour Co generated revenue of 118B KRW at a net margin of -0.6%. Revenue declined 5.7% year over year. It earns a return on equity of -1.6%. Net debt stands at 4.2B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 3,689 KRW (bear case) to 6,129 KRW (bull case); at 3,200 KRW, the current price sits below 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 58% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at 60%, 104620 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 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 7,466 KRW 13,022 KRW 22,126 KRW 80
Rev-Margin DCF 4,683 KRW 6,318 KRW 9,788 KRW 74
ROIC Compounder 3,406 KRW 4,417 KRW 5,023 KRW 72
All 15 models by family
DCF Models
FCF DCF 7,823 KRW 11,263 KRW 22,217 KRW 38
5Y Revenue Exit 4,448 KRW 5,743 KRW 8,403 KRW 39
5Y EBITDA Exit 4,541 KRW 5,931 KRW 8,630 KRW 41
10Y Revenue Exit 5,418 KRW 8,271 KRW 9,633 KRW 36
10Y EBITDA Exit 5,541 KRW 8,471 KRW 13,056 KRW 37
Earnings-Based
EPV 2,967 KRW 3,157 KRW 3,324 KRW 59
Dividend Discount
Gordon GGM 520.59 KRW 1,082 KRW 1,717 KRW 70
DDM Multi-Stage 520.59 KRW 912.73 KRW 1,136 KRW 61
Multiples
EV/EBIT 2,824 KRW 3,157 KRW 3,491 KRW 53
EV/EBITDA 3,247 KRW 3,721 KRW 4,195 KRW 54
EV/Revenue 3,038 KRW 3,557 KRW 4,077 KRW 43
Asset-Based
NCAV (Graham) 1,190 KRW 1,595 KRW 2,380 KRW 50
Growth DCF
Growth DCF 7,466 KRW 13,022 KRW 22,126 KRW 80
Rev-Margin DCF 4,683 KRW 6,318 KRW 9,788 KRW 74
Economic Profit
ROIC Compounder 3,406 KRW 4,417 KRW 5,023 KRW 72

Widest divergence: DCF Models (8,271 KRW) versus Dividend Discount (912.73 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 118B KRW
Revenue growth (YoY) -5.7%
Net margin -0.6%
Return on equity -1.6%
Free cash flow 6.0B KRW FY2025
Operating margin 8.0%
More key figures
EPS growth (YoY) +163%
Net debt 4.2B KRW FY2024

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 47 · Market factors (momentum, volatility) 18

Profitability 37
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 1
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 40
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

Yellow Balloon Tour Co., Ltd. provides travel services in South Korea and internationally. It offers domestic and overseas travel products and information services, corporate overseas training and development, and domestic and overseas airline tickets. The company was founded in 2001 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

Yellow Balloon Tour Co reported revenue of 120B KRW in FY2025 versus 2.9B KRW in FY2021, a compound +152.9%/yr. Reported net income was −2.8B KRW in FY2025.

Growth Quality 48/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
120B KRW
Latest YoY
−9.3%
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.
+75.9%
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.
+43.1%
Avg. growth/yr (9Y) 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.
+7.9%
Revenue +152.9%/yr
FY21 2.9B KRW
FY22 22.0B KRW
FY23 98.6B KRW
FY24 132B KRW
FY25 120B KRW
Net income
FY21 −10.2B KRW
FY22 −24.1B KRW
FY23 5.9B KRW
FY24 −4.7B KRW
FY25 −2.8B KRW

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Cite: Fair Value Calculator (2026). "Yellow Balloon Tour Co Fair Value". https://www.fairvalue-calculator.com/stock/104620

Peer Group

Leisure · 190 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 46 · Below median
Fair Value upside +60% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) -1% · Below median
Operating margin (TTM) 8% · Above median
Revenue growth -6% · Below median
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Leisure 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 100 · sector 14
FUTURE 0 · sector 18
PAST 0 · sector 19
HEALTH 96 · sector 94
DIVIDEND 0 · sector 51

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 Leisure stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
ANTA Sports Products Limited 2020 HK$74.15 HK$119.29 +61%
Pop Mart International Group 9992 HK$160.20 HK$227.30 +42%
Amer Sports, Inc AS $36.44 $16.16 -56%
Hasbro, Inc HAS $81.55 $83.38 +2%
Life Time Group LTH $42.15 $16.15 -62%
Acushnet Holdings GOLF $114.78 $37.79 -67%
Li Ning Company 2331 HK$14.80 HK$29.26 +98%
Benefit Systems S.A BFT 5,255 PLN 3,714 PLN -29%
Ninebot Limited 689009 ¥37.82 ¥39.17 +4%
Asmodee Group ASMDEEB kr 145.70 kr 41.90 -71%

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Frequently asked questions

Is Yellow Balloon Tour Co (104620) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 5,118 KRW versus a price of 3,200 KRW, about +60% (undervalued).
What is the fair value of 104620?
Our model-based fair value for Yellow Balloon Tour Co is 5,118 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 3,200 KRW.
What is the quality score of 104620?
Yellow Balloon Tour Co has a Quality Score of 46/100. 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 Yellow Balloon Tour Co (104620)?
Yellow Balloon Tour Co reported trailing-twelve-month revenue of about 118B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 104620?
The net profit margin of Yellow Balloon Tour Co is about -0.6%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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