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TSI Co (277880) Fair Value & Analysis

Industrials · KR · Market cap 58.6B KRW

TC TSI Co 277880 · KQ
Price3,255 KRW
Fair Value4,637 KRW
Upside+42.5%
Quality46/100
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Mixed Growth
Thin margins · 4.5% net margin
Low debt · generates free cash flow
10.37% dividend yield
Mixed vs. peers (5/11)
Narrow moat 31/100
Evidence: High Range 4,507 KRW – 5,163 KRW Share as image

Fair value as of: Jul 21, 2026

From 23 valuation models · updated 21 days ago

Fair value updated Jul 21, 2026, revised from 4,566 KRW to 4,637 KRW (+1.6%) since Jul 7, 2026. Share price −0.2% over the past month.

Below-average quality, screening 42% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (4,507 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.
  • The models converge in a tight band (4,507 KRW to 5,163 KRW), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

16,076 KRW 2,610 KRW Fair Value 4,637 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 2,610 KRW – 16,076 KRW · fair‑value band 4,507 KRW – 5,163 KRW · the 3,255 KRW price screens below the 4,637 KRW fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

TSI Co (277880) currently trades at 3,255 KRW, while our model-based Fair Value estimate is 4,637 KRW, implying the stock looks roughly 42.5% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Industrials 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, TSI Co generated revenue of 251B KRW at a net margin of 4.5%. Revenue declined 21.1% year over year. It earns a return on equity of 8.7%. Net debt stands at 46.1B KRW. Fundamentals as of Jul 21, 2026

Our scenario range runs from 4,507 KRW (bear case) to 5,163 KRW (bull case); at 3,255 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 47% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 42%, 277880 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 24,176 KRW 45,488 KRW 88,567 KRW 80
Residual Income 4,646 KRW 4,510 KRW 3,824 KRW 76
Rev-Margin DCF 9,764 KRW 16,312 KRW 28,547 KRW 74
All 23 models by family
DCF Models
FCF DCF 25,741 KRW 40,851 KRW 88,963 KRW 38
5Y Revenue Exit 9,696 KRW 14,136 KRW 23,174 KRW 39
5Y EBITDA Exit 10,780 KRW 16,328 KRW 27,087 KRW 41
5Y P/E Exit 8,948 KRW 15,269 KRW 22,945 KRW 38
10Y Revenue Exit 14,355 KRW 25,079 KRW 29,654 KRW 36
10Y EBITDA Exit 15,319 KRW 27,413 KRW 46,105 KRW 37
10Y P/E Exit 13,983 KRW 23,469 KRW 36,889 KRW 35
Earnings-Based
Graham-Dodd 1,338 KRW 9,328 KRW 13,090 KRW 54
Lynch FV 3,534 KRW 5,049 KRW 6,564 KRW 50
PEG = 1.0 3,534 KRW 5,049 KRW 6,564 KRW 46
EPV 2,991 KRW 3,590 KRW 4,114 KRW 59
Multiples
P/E Multiple 3,098 KRW 4,131 KRW 5,163 KRW 63
P/S Multiple 2,508 KRW 3,344 KRW 4,180 KRW 58
P/B Multiple 2,508 KRW 3,344 KRW 4,180 KRW 55
EV/EBIT 4,742 KRW 6,524 KRW 8,306 KRW 53
EV/EBITDA 4,920 KRW 6,761 KRW 8,602 KRW 54
EV/Revenue 3,212 KRW 4,847 KRW 6,482 KRW 43
Asset-Based
NCAV (Graham) 3,201 KRW 4,290 KRW 6,403 KRW 50
Growth DCF
Growth DCF 24,176 KRW 45,488 KRW 88,567 KRW 80
Rev-Margin DCF 9,764 KRW 16,312 KRW 28,547 KRW 74
Economic Profit
Residual Income 4,646 KRW 4,510 KRW 3,824 KRW 76
ROIC Compounder 2,991 KRW 3,590 KRW 4,114 KRW 72
Growth Earnings
Growth-Adj P/E 4,507 KRW 6,439 KRW 8,370 KRW 68

Widest divergence: DCF Models (23,469 KRW) versus Economic Profit (3,590 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 251B KRW
Revenue growth (YoY) -21.1%
Net margin 4.5%
Return on equity 8.7%
Free cash flow 30.8B KRW FY2025
Operating margin 7.5%
More key figures
Dividend yield 10.4%
EPS growth (YoY) +675%
Net debt 46.1B KRW FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 48 · Market factors (momentum, volatility) 16

Profitability 29
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 73
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

TSI Co., Ltd., a mixing system company, engages in the manufacture and sale of rechargeable battery mixing systems in South Korea, China, Poland, Sweden, France, Vietnam, Malaysia, the United States, Hungary, and Indonesia.

Full company description

TSI Co., Ltd., a mixing system company, engages in the manufacture and sale of rechargeable battery mixing systems in South Korea, China, Poland, Sweden, France, Vietnam, Malaysia, the United States, Hungary, and Indonesia. The company is involved in the secondary battery mixing process solutions, including electrode, assembly, and activation processes; and mixing equipment manufacturing process. It also provides mixing equipment comprising mixing systems; Planetary Despa (PD) mixers, a device with a powerful kneading and stirring effect due to the planetary movement of the twist blade and a high-speed dispersion effect due to the despa; Corona Mix for manufacturing slurry for secondary batteries; Solu Mix, an equipment to dissolve PVDF and CMC; and Powder Transfer System (PTS), a device that transfers active material powder using a vacuum pump. The company was founded in 1996 and is headquartered in Hwaseong-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TSI Co reported revenue of 265B KRW in FY2025 versus 67.3B KRW in FY2021, a compound +40.8%/yr. Reported net income was 3.9B KRW in FY2025, compounding +34.9%/yr from FY2021.

Growth Quality 84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
265B KRW
Latest YoY
−2.7%
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.
+21.2%
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.
+42.1%
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.
+36.3%
Revenue +40.8%/yr
FY21 67.3B KRW
FY22 149B KRW
FY23 261B KRW
FY24 272B KRW
FY25 265B KRW
Net income +34.9%/yr
FY21 1.2B KRW
FY22 3.1B KRW
FY23 −4.9B KRW
FY24 29.4B KRW
FY25 3.9B KRW

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Cite: Fair Value Calculator (2026). "TSI Co Fair Value". https://www.fairvalue-calculator.com/stock/277880

Peer Group

Specialty Industrial Machinery · 808 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 +43% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 2% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth -21% · Bottom 25%
Dividend yield (TTM) 10.4% · Top 25%
Debt / equity 0.27× · Higher than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 0.9× · 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 90 · sector 0
FUTURE 0 · sector 23
PAST 35 · sector 28
HEALTH 86 · sector 96
DIVIDEND 100 · sector 24

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is TSI Co (277880) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 4,637 KRW versus a price of 3,255 KRW, about +42% (undervalued).
What is the fair value of 277880?
Our model-based fair value for TSI Co is 4,637 KRW (as of Jul 21, 2026), built from audited fundamentals. The current price is 3,255 KRW.
What is the quality score of 277880?
TSI 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 TSI Co (277880)?
TSI Co reported trailing-twelve-month revenue of about 251B KRW (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 277880?
The net profit margin of TSI Co is about 4.5%, meaning it keeps roughly 4.5% of revenue as net income. Based on the latest reported figures.
Does TSI Co pay a dividend?
TSI Co currently shows a dividend yield of about 10.37% relative to its recent price (as of Jul 21, 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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