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TOPTEC Co. Ltd (108230) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of TOPTEC Co. Ltd KRW 5,700, price KRW 3,240, upside +75.9%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Technology · KR · ISIN KR7108230004

TC Thin data Oct 2, 2026

TOPTEC Co. Ltd

108230 · KQ

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

Fair value 5,700 KRW · Strongly undervalued (+75.9%)
Low debt
Quality 41/100
3.3% dividend yield · Safety not assessed
Mixed vs. peers (5/9)
Weak Growth (revenue 5y −11.9 %/yr in KRW)
Loss-making · -13.0% net margin (TTM)
Negative free cash flow
Narrow moat 29/100
Thin data
⟳ Cyclical
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

11,156 KRW 2,755 KRW Fair Value 5,700 KRW May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.

How to read this chart

60‑month range 2,755 KRW – 11,156 KRW · fair‑value band 3,762 KRW – 7,125 KRW · the 3,240 KRW price screens below the 5,700 KRW fair value. Dashed = 300-day average. As of Oct 2, 2026.

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Company profile

TOPTEC Co., Ltd. engages in the factory automation, solar energy, and nano-related businesses in South Korea. It offers display products, such as auto assembly machines; glass handling robot, glass cell cutting, and cell handling robot systems; ITO sputter distribution; and UV dispenser.

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TOPTEC Co., Ltd. engages in the factory automation, solar energy, and nano-related businesses in South Korea. It offers display products, such as auto assembly machines; glass handling robot, glass cell cutting, and cell handling robot systems; ITO sputter distribution; and UV dispenser. The company also provides can cap laser welding, JR insert tap welding, round swage, round tab welding, cap assembly line, and non-acid battery assembly line machines; batteries includes comp oil injector, comp assembly line, comp measurement and supply line, MDPS ECU assembly line, battery pack assembly line, and MEB ECU assembly line; and semiconductors. In addition, it offers nano equipment and nano separator, as well as solar power plants and manufacturing equipment. The company was formerly known as Toptec Engineering and changed its name to Toptec Co., Ltd. in June 1996. Toptec Co., Ltd. was founded in 1992 and is headquartered in Gumi-si, South Korea.

Stock analysis

TOPTEC Co. Ltd (108230) currently trades at 3,240 KRW, while our model-based Fair Value estimate is 5,700 KRW, implying the stock looks roughly 43.2% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 94/100, which puts the evidence level at low.

Scenario range: 3,762 KRW (bear) to 7,125 KRW (bull), the price of 3,240 KRW sits below 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 41/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

TOPTEC Co. Ltd reported revenue of 171B KRW in FY2025 versus 165B KRW in FY2021, a compound +0.9%/yr. Reported net income was −14.8B KRW in FY2025.

Key figures

Market cap 118B KRW (≈ $87.8M) · P/S ratio 0.50 · Dividend yield 3.3% · Net margin −8.6% · Return on equity 156% · Return on assets (EBIT) −4.5% · Operating margin −11.0% · Revenue (TTM) 239B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 37% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −42% fair-value upside, at 76%, 108230 screens cheaper than that median.

Fair Value models

Bear 3,762 KRW Fair Value 5,700 KRW Bull 7,125 KRW
Price 3,240 KRW · Upside +75.9%
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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.
Highest evidence
NCAV (Graham) 5,230 KRW 7,009 KRW 10,461 KRW 54
All 1 models by family
Asset-Based
NCAV (Graham) 5,230 KRW 7,009 KRW 10,461 KRW 54

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Quality Score breakdown

Overall quality 41/100

Of which business quality 41 · Market factors (momentum, volatility) 29

Profitability 7
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 2
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 80
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 11/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−63.9%
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.
−20.9%
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.
−11.9%
Start year 2020 (pandemic). Over 10 years: −2.9% a year
Revenue growth 15 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%
Profit margin (trend) ⓘ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.
8.4% (2020) → −10.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Semiconductors & Semiconductor Equipment · 47 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 41 · Bottom 25%
Fair Value upside +75.9% · Top 25%
Profitability
Return on equity (TTM) 156.3% · Above median
Return on assets −3.5% · Bottom 25%
Net margin (TTM) −13.0% · Bottom 25%
Operating margin (TTM) −11.0% · Bottom 25%
Growth and dividend
Revenue growth 64.1% · Top 25%
Dividend yield (TTM) 3.3% · Top 25%
Balance sheet
Debt / equity 0.01× · Below median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 4
FUTURE (revenue growth)100 · sector 98
PAST (return on equity)100 · sector 100
HEALTH (low debt)100 · sector 99
DIVIDEND (yield)67 · sector 16

Context: sector, industry, market

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

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TSE Co 131290 289,000 KRW 83,925 KRW −71%
TES Co 095610 167,700 KRW 115,086 KRW −31%
Jeju Semiconductor Corp 080220 88,200 KRW 23,830 KRW −73%
DOOSAN TESNA Inc 131970 97,700 KRW 24,434 KRW −75%
RFHIC Corporation 218410 58,500 KRW 56,462 KRW −3%

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TOPTEC Co. Ltd · Fair Value
5,700 KRW +43%Fair Value
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Cite: Fair Value Calculator (2026). "TOPTEC Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/108230

Frequently asked questions

Is TOPTEC Co. Ltd (108230) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 5,700 KRW versus a price of 3,240 KRW, about +76% upside (undervalued).
What is the fair value of 108230?
Our model-based fair value for TOPTEC Co. Ltd is 5,700 KRW (as of Oct 2, 2026), built from audited fundamentals. The current price: 3,240 KRW.
What is the quality score of 108230?
TOPTEC Co. Ltd has a Quality Score of 41/100. 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 TOPTEC Co. Ltd (108230)?
Our model-based price target is the fair value of 5,700 KRW (as of Oct 2, 2026) from 1 valuation models. Cautious scenario 3,762 KRW, optimistic scenario 7,125 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the TOPTEC Co. Ltd stock forecast for 2026?
Our models put fair value at 5,700 KRW, about +76% upside versus a price of 3,240 KRW (undervalued). Cautious scenario 3,762 KRW, optimistic scenario 7,125 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of TOPTEC Co. Ltd (108230)?
TOPTEC Co. Ltd reported trailing-twelve-month revenue of about 239B KRW (latest available figure, as of Oct 2, 2026).
Does TOPTEC Co. Ltd pay a dividend?
TOPTEC Co. Ltd currently shows a dividend yield of about 3.33% relative to its recent price (as of Oct 2, 2026).
What is the intrinsic value of TOPTEC Co. Ltd (108230)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TOPTEC Co. Ltd it is 5,700 KRW per share (as of Oct 2, 2026), against a price of 3,240 KRW. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is TOPTEC Co. Ltd stock overvalued or undervalued in 2026?
As of Oct 2, 2026, 108230 trades below its calculated fair value: price 3,240 KRW, fair value 5,700 KRW, a gap of about +76% (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 108230?
No. The price is what the market pays today (3,240 KRW); the fair value is what the company's own numbers justify (5,700 KRW). For TOPTEC Co. Ltd the two are 2,460 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is TOPTEC Co. Ltd worth?
The market values TOPTEC Co. Ltd at about 118B KRW (market capitalisation, as of Oct 2, 2026). Per share that is 3,240 KRW; our models calculate a fair value of 5,700 KRW per share.
What do the bullish and bearish scenarios say about 108230?
Our models span a range for TOPTEC Co. Ltd: cautious scenario 3,762 KRW, base 5,700 KRW, optimistic 7,125 KRW per share (as of Oct 2, 2026, price 3,240 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of TOPTEC Co. Ltd (108230)?
Balance-sheet figures for TOPTEC Co. Ltd (as of Oct 2, 2026): return on equity 156.3%, debt of 0.01 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 108230 from its 52-week high?
TOPTEC Co. Ltd trades at 3,240 KRW, about 37% below its 52-week high of 5,180 KRW and 18% above the low of 2,755 KRW (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 5,700 KRW is for.
Which stocks are comparable to TOPTEC Co. Ltd?
From the same area (Technology) we also value ISC Co, Eugene Technology Co, PSK HOLDINGS Inc, Tokai Carbon Korea Co, 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 TOPTEC Co. Ltd stock attractive at the current price?
The data as of Oct 2, 2026: price 3,240 KRW, calculated fair value 5,700 KRW (+76%), Quality Score 41/100, from 1 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 108230 calculated?
We run TOPTEC Co. Ltd through 1 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 5,700 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 15.0 % above its aggregate fair value. TOPTEC Co. Ltd currently trades 43 % 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 TOPTEC Co. Ltd (108230)?
The closing price on Oct 2, 2026 was 3,240 KRW. Our model-based fair value is 5,700 KRW, about +76% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TOPTEC Co. Ltd right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (3,762 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (3,762 KRW to 7,125 KRW) leaves room in how you read the outcome.

Key figures of TOPTEC Co. Ltd

How large is the market capitalisation of TOPTEC Co. Ltd (108230)?
The market capitalisation of TOPTEC Co. Ltd is 118B KRW (≈ $87.8M). 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 TOPTEC Co. Ltd (108230)?
The price-to-sales ratio of TOPTEC Co. Ltd is 0.50 (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 TOPTEC Co. Ltd (108230)?
The dividend yield of TOPTEC Co. Ltd is 3.3%. 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 TOPTEC Co. Ltd (108230)?
The net margin of TOPTEC Co. Ltd is −8.6% (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 TOPTEC Co. Ltd (108230)?
The return on equity (ROE) of TOPTEC Co. Ltd is 156% (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 TOPTEC Co. Ltd (108230)?
On an EBIT basis the return on assets of TOPTEC Co. Ltd is −4.5% (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 TOPTEC Co. Ltd (108230)?
The operating margin of TOPTEC Co. Ltd is −11.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TOPTEC Co. Ltd (108230)?
Revenue at TOPTEC Co. Ltd is growing +64.1% versus a year earlier (3y avg −20.9%). 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 TOPTEC Co. Ltd (108230)?
Earnings per share at TOPTEC Co. Ltd are growing −24.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does TOPTEC Co. Ltd (108230) generate?
The free cash flow of TOPTEC Co. Ltd is −11.8B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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