Tangel Publishing (300148) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Tangel Publishing ¥2.80, price ¥3.56, upside -21.4%, quality 70 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 ¥2.21 – ¥7.15 · fair‑value band ¥1.96 – ¥3.64 · the ¥3.56 price screens above the ¥2.80 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Tangel Culture Co., Ltd. engages in the research and development, distribution, agency, and operation of mobile games, book publishing and distribution, and educational businesses in China. The company was founded in 1983 and is headquartered in Changsha, China.
Stock analysis
Tangel Publishing (300148) currently trades at ¥3.56, while our model-based Fair Value estimate is ¥2.80, implying the stock looks roughly 27.1% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥1.46 per share, and 0 of the 26 models we run sit above the ¥3.56 price.
Bear case: the Economic Profit group reads lowest at ¥0.6900, and 26 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥1.96 (bear) to ¥3.64 (bull), the price of ¥3.56 sits inside 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 70/100 (solid quality), in the Communication Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Tangel Publishing reported revenue of 578M CNY in FY2025 versus 505M CNY in FY2021, a compound +3.4%/yr. Reported net income was 67.7M CNY in FY2025.
Key figures
Market cap 3.0B CNY (≈ $448M) · P/E ratio 59.3 · P/S ratio 6.95 · EPS (TTM) ¥0.0600 · Dividend yield 0.1% · Net margin 11.7% · Return on equity 5.5% · Return on assets (EBIT) −10.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at −21%, 300148 screens richer than that median.
Fair Value models
Bear ¥1.96Fair Value ¥2.80Bull ¥3.64
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.0441 per share) are deliberately not added.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
+25.4%
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.
−1.6%
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.
−7.4%
Start year 2020 (pandemic). Over 10 years: +0.6% 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.
+13.4%
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What shareholders gained per year (last 5 years) ⓘ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 5 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.
+15.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.0%
Dividend (yield on the price)0.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.15% vs −11%, picking up
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.−109% → 7%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 3.8%/yr over ~10Y (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
A lot of optimism in the price
The price assumes more 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).
+23.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +21.6% 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.Publishing · 108 stocks
Beats the industry median on 3/15 measures
Overall it trails its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside−21% · Below median
Profitability
Return on equity (TTM)6% · Below median
Return on assets2% · Below median
Net margin (TTM)9% · Above median
Operating margin (TTM)20% · Top 25%
Growth and dividend
Revenue growth−17% · Bottom 25%
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.09× · Above median
Valuation Multiplesvs Publishing median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Tangel Publishing Fair Value". https://www.fairvalue-calculator.com/stock/300148
Frequently asked questions
Is Tangel Publishing (300148) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥2.80 versus a price of ¥3.56, about −21% upside (overvalued).
What is the fair value of 300148?
Our model-based fair value for Tangel Publishing is ¥2.80 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥3.56.
What is the quality score of 300148?
Tangel Publishing has a Quality Score of 70/100. 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 Tangel Publishing (300148)?
Our model-based price target is the fair value of ¥2.80 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario ¥1.96, optimistic scenario ¥3.64. It is a calculation from audited fundamentals, not an analyst target.
What is the Tangel Publishing stock forecast for 2026?
Our models put fair value at ¥2.80, about −21% upside versus a price of ¥3.56 (overvalued). Cautious scenario ¥1.96, optimistic scenario ¥3.64. The calculation is refreshed regularly with new filings.
What is the revenue of Tangel Publishing (300148)?
Tangel Publishing reported trailing-twelve-month revenue of about 565M CNY (latest available figure, as of Sep 24, 2026).
Does Tangel Publishing pay a dividend?
Tangel Publishing currently shows a dividend yield of about 0.13% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Tangel Publishing (300148)?
For today's price to be fair in a discounted-cash-flow model, Tangel Publishing would have to grow free cash flow by +23.6 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -7.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 300148 use?
Our models discount Tangel Publishing at 10.4 %: a base by market capitalisation (small), damped by beta 0.37, country premium for China. 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 Tangel Publishing that is +23.6 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Tangel Publishing (300148) delivered so far?
Over the past 5 years revenue at Tangel Publishing grew -7.4 % a year. The price currently implies +23.6 % 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 Tangel Publishing (300148) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Tangel Publishing (+23.6 % 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 Tangel Publishing (300148)?
The free-cash-flow yield on the price is 2.14 %: that much free cash flow Tangel Publishing produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tangel Publishing (300148)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tangel Publishing it is ¥2.80 per share (as of Sep 24, 2026), against a price of ¥3.56. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Tangel Publishing stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 300148 trades above its calculated fair value: price ¥3.56, fair value ¥2.80, a gap of about −21% (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 300148?
No. The price is what the market pays today (¥3.56); the fair value is what the company's own numbers justify (¥2.80). For Tangel Publishing the two are ¥0.7600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tangel Publishing worth?
The market values Tangel Publishing at about 3.0B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥3.56; our models calculate a fair value of ¥2.80 per share.
What do the bullish and bearish scenarios say about 300148?
Our models span a range for Tangel Publishing: cautious scenario ¥1.96, base ¥2.80, optimistic ¥3.64 per share (as of Sep 24, 2026, price ¥3.56). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300148?
Tangel Publishing trades at a price-to-earnings ratio of 59.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥2.80 is built from several models across several years. Other multiples: PEG 1.8, P/B 2.9, P/S 5.3, EV/EBITDA 40.8.
What is the PEG ratio of 300148?
The PEG ratio of Tangel Publishing is 1.85 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Tangel Publishing (300148)?
Balance-sheet figures for Tangel Publishing (as of Sep 24, 2026): return on equity 5.5%, debt of 0.09 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is 300148 from its 52-week high?
Tangel Publishing trades at ¥3.56, about 39% below its 52-week high of ¥5.81 and 16% above the low of ¥3.08 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of ¥2.80 is for.
Which stocks are comparable to Tangel Publishing?
From the same area (Communication Services) we also value The New York Times Company, Jiangsu Phoenix Publishing & Media Corporation, China Science Publishing & Media Ltd, People.cn CO., LTD, 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 Tangel Publishing stock attractive at the current price?
The data as of Sep 24, 2026: price ¥3.56, calculated fair value ¥2.80 (−21%), Quality Score 70/100, from 26 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 300148 calculated?
We run Tangel Publishing through 26 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 ¥2.80, 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. Tangel Publishing 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 Tangel Publishing (300148)?
The closing price on Sep 24, 2026 was ¥3.56. Our model-based fair value is ¥2.80, about −21% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tangel Publishing right now?
A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. A fairly wide model range (¥1.96 to ¥3.64) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Tangel Publishing
How large is the market capitalisation of Tangel Publishing (300148)?
The market capitalisation of Tangel Publishing is 3.0B CNY (≈ $448M). 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 Tangel Publishing (300148)?
The price-to-sales ratio of Tangel Publishing is 6.95 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tangel Publishing (300148)?
Earnings per share at Tangel Publishing are ¥0.0600 (price ÷ EPS = P/E 59.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tangel Publishing (300148)?
The dividend yield of Tangel Publishing is 0.1% (payout 7.9%). 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 Tangel Publishing (300148)?
The net margin of Tangel Publishing is 11.7% (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 Tangel Publishing (300148)?
The return on equity (ROE) of Tangel Publishing is 5.5% (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 Tangel Publishing (300148)?
On an EBIT basis the return on assets of Tangel Publishing is −10.1% (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 Tangel Publishing (300148)?
The operating margin of Tangel Publishing is 20.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tangel Publishing (300148)?
Revenue at Tangel Publishing is growing −16.9% versus a year earlier (3y avg −1.6%). 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 Tangel Publishing (300148)?
Earnings per share at Tangel Publishing are growing −66.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Tangel Publishing (300148) hold?
Tangel Publishing holds more cash than debt, 216M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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