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T.S. Investment Corporation (246690) Fair Value & Analysis

Financial Services · KR · Market cap 35.1B KRW

TS T.S. Investment Corporation 246690 · KQ
Price1,738 KRW
Fair Value2,842 KRW
Upside+63.5%
Quality57/100
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Weak Growth
Highly profitable · 38.9% net margin
Low debt · generates free cash flow
2.00% dividend yield
Ranks above peers (7/10)
Moderate moat 55/100
Evidence: High Range 2,132 KRW – 3,553 KRW Share as image

Fair value as of: Jul 20, 2026

From 10 valuation models · updated 21 days ago

Fair value updated Jul 20, 2026, revised from 2,634 KRW to 2,842 KRW (+7.9%) since Jun 26, 2026. Share price +12.4% over the past month.

A solid business, screening 64% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (2,132 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

11,605 KRW 1,300 KRW Fair Value 2,842 KRW Feb 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 1,300 KRW – 11,605 KRW · fair‑value band 2,132 KRW – 3,553 KRW · the 1,738 KRW price screens below the 2,842 KRW fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

T.S. Investment Corporation (246690) currently trades at 1,738 KRW, while our model-based Fair Value estimate is 2,842 KRW, implying the stock looks roughly 63.5% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Financial Services 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, T.S. Investment Corporation generated revenue of 11.3B KRW at a net margin of 38.9%. Revenue grew 51.2% year over year. It earns a return on equity of 16.1%. Net debt stands at 7.0B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 2,132 KRW (bear case) to 3,553 KRW (bull case); at 1,738 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 25% below its 52-week high and 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at 64%, 246690 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 687.04 KRW 951.57 KRW 1,404 KRW 80
Residual Income 3,154 KRW 3,375 KRW 3,787 KRW 76
Rev-Margin DCF 588.78 KRW 887.38 KRW 1,254 KRW 74
All 10 models by family
DCF Models
Owner Earnings 2,995 KRW 4,187 KRW 6,394 KRW 31
5Y P/E Exit 1,883 KRW 3,111 KRW 4,573 KRW 38
10Y P/E Exit 1,395 KRW 2,191 KRW 2,965 KRW 35
Earnings-Based
Graham-Dodd 2,037 KRW 2,490 KRW 2,801 KRW 54
Multiples
P/E Multiple 3,146 KRW 4,194 KRW 5,243 KRW 63
P/B Multiple 3,820 KRW 5,093 KRW 6,366 KRW 55
Asset-Based
NCAV (Graham) 1,899 KRW 2,544 KRW 3,797 KRW 50
Growth DCF
Growth DCF 687.04 KRW 951.57 KRW 1,404 KRW 80
Rev-Margin DCF 588.78 KRW 887.38 KRW 1,254 KRW 74
Economic Profit
Residual Income 3,154 KRW 3,375 KRW 3,787 KRW 76

Widest divergence: Multiples (4,194 KRW) versus Growth DCF (887.38 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 11.3B KRW
Revenue growth (YoY) +51.2%
Net margin 38.9%
Return on equity 16.1%
Free cash flow 1.7B KRW FY2025
Operating margin -15.3%
More key figures
Dividend yield 2.0%
EPS growth (YoY) +2,706%
Net debt 7.0B KRW FY2025

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 54 · Market factors (momentum, volatility) 1

Profitability 42
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 74
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

T.S. Investment Corporation is a private equity and venture capital firm specializing in series investments. The firm typically invests in mergers and acquisitions and makes secondary investments. It typically invests in small and medium sized companies and venture firms.

Full company description

T.S. Investment Corporation is a private equity and venture capital firm specializing in series investments. The firm typically invests in mergers and acquisitions and makes secondary investments. It typically invests in small and medium sized companies and venture firms. The firm also considers investments in the patents, biotechnology, medical, fourth industrial revolution related industries, bio healthcare, ICT&service, consumer goods, manufacturing, commercial, energy and contents sectors. The firm exits through IPO and M&A. T.S. Investment Corporation was founded in 2008 and is based in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

T.S. Investment Corporation reported revenue of 17.9B KRW in FY2025 versus 22.4B KRW in FY2021, a compound −5.5%/yr. Reported net income was 7.0B KRW in FY2025, compounding −8.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
17.9B KRW
Latest YoY
+1.9%
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.
−12.4%
Revenue −5.5%/yr
FY21 22.4B KRW
FY22 26.6B KRW
FY23 25.9B KRW
FY24 17.5B KRW
FY25 17.9B KRW
Net income −8.3%/yr
FY21 9.9B KRW
FY22 8.1B KRW
FY23 10.3B KRW
FY24 −2.4B KRW
FY25 7.0B KRW

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Cite: Fair Value Calculator (2026). "T.S. Investment Corporation Fair Value". https://www.fairvalue-calculator.com/stock/246690

Peer Group

Asset Management · 971 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 57 · Below median
Fair Value upside +64% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 39% · Above median
Operating margin (TTM) -15% · Bottom 25%
Revenue growth 51% · Top 25%
Dividend yield (TTM) 2.0% · Below median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Asset Management 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 37
FUTURE 100 · sector 6
PAST 65 · sector 26
HEALTH 98 · sector 95
DIVIDEND 40 · sector 69

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

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,136 $465.75 -59%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 423.70 kr 847.40 +100%
Brookfield Corporation BN C$62.45 C$10.12 -84%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Hedef Holding HEDEF 267.25 TRY 320.98 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%

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Frequently asked questions

Is T.S. Investment Corporation (246690) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 2,842 KRW versus a price of 1,738 KRW, about +64% (undervalued).
What is the fair value of 246690?
Our model-based fair value for T.S. Investment Corporation is 2,842 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 1,738 KRW.
What is the quality score of 246690?
T.S. Investment Corporation has a Quality Score of 57/100. 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 T.S. Investment Corporation (246690)?
T.S. Investment Corporation reported trailing-twelve-month revenue of about 11.3B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 246690?
The net profit margin of T.S. Investment Corporation is about 38.9%, meaning it keeps roughly 38.9% of revenue as net income. Based on the latest reported figures.
Does T.S. Investment Corporation pay a dividend?
T.S. Investment Corporation currently shows a dividend yield of about 1.14% relative to its recent price (as of Jul 20, 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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