TLB Co. Ltd. (356860) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of TLB Co. Ltd. stock KRW 15,759, price KRW 26,500, that is 40.5% below the price, quality 61 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 4,964 KRW – 62,499 KRW · fair‑value band 11,031 KRW – 20,487 KRW · the 26,500 KRW price screens above the 15,759 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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TLB Co., Ltd. manufactures and sells printed circuit boards (PCBs) in South Korea, China, rest of Asia, and the United States. It provides SSD, memory module, and tester PCB products. The company was founded in 2011 and is headquartered in Ansan-si, South Korea.
Stock analysis
TLB Co. Ltd. (356860) currently trades at 26,500 KRW, while our model-based Fair Value estimate is 15,759 KRW, 41% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 21,494 KRW per share, and 1 of the 16 models we run sit above the 26,500 KRW price.
Bear case: the Asset-Based group reads lowest at 3,272 KRW, and 15 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: 11,031 KRW (bear) to 20,487 KRW (bull), the price of 26,500 KRW sits above 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 61/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
TLB Co. Ltd. reported revenue of 258B KRW in FY2025 versus 178B KRW in FY2021, a compound +9.8%/yr. Reported net income was 19.0B KRW in FY2025, compounding +11.3%/yr from FY2021.
Key figures
Market cap 671B KRW (≈ $492M) Small · P/E ratio 27.0 · P/S ratio 2.20 · EPS (TTM) 1,299 KRW · Dividend yield 1.2% · Net margin 10.8% · Return on equity 25.4% · Return on assets (EBIT) 9.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 29% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at −41%, 356860 screens richer than that median.
Fair Value models
Bear11,031 KRWFair Value 15,759 KRWBull20,487 KRW
Price 26,500 KRW · Downside -40.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (841.50 KRW 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. 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.Coverage ⓘCoverage = 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.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+43.6%
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.
+5.3%
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.
+7.0%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−13.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.3%
Dividend (yield on the price)1.2%
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.8% → 10%
2025 sits 427% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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.Semiconductors · 370 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−40.5% · Below median
Profitability
Return on equity (12 months)25.4% · Top 25%
Return on assets7.7% · Top 25%
Net margin (12 months)10.8% · Above median
Operating margin (12 months)14.5% · Above median
Growth and dividend
Revenue growth (quarter YoY)37.8% · Above median
Dividend yield (12 months)1.2% · Above median
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (12 months)27.0× · Cheaper than median
P/B5.32× · Priciest 25%
P/S (12 months)2.20× · Cheaper than median
EV/EBITDA13.4× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 100
PAST (return on equity)100· sector 28
HEALTH (low debt)93· sector 96
DIVIDEND (yield)24· sector 20
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is TLB Co. Ltd. (356860) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 15,759 KRW versus a price of 26,500 KRW, about 41% lower (overvalued).
What is the fair value of 356860?
Our model-based fair value for TLB Co. Ltd. is 15,759 KRW (as of Nov 5, 2026), built from audited fundamentals. The current price: 26,500 KRW.
What is the quality score of 356860?
TLB Co. Ltd. has a Quality Score of 61/100. 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 TLB Co. Ltd. (356860)?
Our model-based price target is the fair value of 15,759 KRW (as of Nov 5, 2026) from 16 valuation models. Cautious scenario 11,031 KRW, optimistic scenario 20,487 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the TLB Co. Ltd. stock forecast for 2026?
Our models put fair value at 15,759 KRW, about 41% lower versus a price of 26,500 KRW (overvalued). Cautious scenario 11,031 KRW, optimistic scenario 20,487 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of TLB Co. Ltd. (356860)?
TLB Co. Ltd. reported trailing-twelve-month revenue of about 306B KRW (latest available figure, as of Nov 5, 2026).
Does TLB Co. Ltd. pay a dividend?
TLB Co. Ltd. currently shows a dividend yield of 1.19% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of TLB Co. Ltd. (356860) and when is the ex-dividend date?
TLB Co. Ltd. pays a dividend of 314.11 KRW per share a year, a dividend yield of 1.2%. The last ex-dividend date was Aug 20, 2026. A dividend has been paid every year since at least 2021. The payout ratio is 24.2% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of TLB Co. Ltd. (356860)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TLB Co. Ltd. it is 15,759 KRW per share (as of Nov 5, 2026), against a price of 26,500 KRW. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is TLB Co. Ltd. stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 356860 trades above its calculated fair value: price 26,500 KRW, fair value 15,759 KRW, a gap of about −41% (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 356860?
No. The price is what the market pays today (26,500 KRW); the fair value is what the company's own numbers justify (15,759 KRW). For TLB Co. Ltd. the two are 10,741 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is TLB Co. Ltd. worth?
The market values TLB Co. Ltd. at about 671B KRW (market capitalisation, as of Nov 5, 2026). Per share that is 26,500 KRW; our models calculate a fair value of 15,759 KRW per share.
What do the bullish and bearish scenarios say about 356860?
Our models span a range for TLB Co. Ltd.: cautious scenario 11,031 KRW, base 15,759 KRW, optimistic 20,487 KRW per share (as of Nov 5, 2026, price 26,500 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 356860?
TLB Co. Ltd. trades at a price-to-earnings ratio of 27.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 15,759 KRW is built from several models across several years. Other multiples: P/B 5.3, P/S 2.2, EV/EBITDA 13.4.
How solid is the balance sheet of TLB Co. Ltd. (356860)?
Balance-sheet figures for TLB Co. Ltd. (as of Nov 5, 2026): return on equity 25.4%, debt of 0.13 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 356860 from its 52-week high?
TLB Co. Ltd. trades at 26,500 KRW, about 58% below its 52-week high of 62,499 KRW and 29% above the low of 20,550 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 15,759 KRW is for.
Which stocks are comparable to TLB Co. Ltd.?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, Inc, 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 TLB Co. Ltd. stock attractive at the current price?
The data as of Nov 5, 2026: price 26,500 KRW, calculated fair value 15,759 KRW (−41%), Quality Score 61/100, from 16 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 356860 calculated?
We run TLB Co. Ltd. through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 15,759 KRW builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. TLB Co. Ltd. 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 TLB Co. Ltd. (356860)?
The closing price on Nov 6, 2026 was 26,500 KRW. Our model-based fair value is 15,759 KRW, about 41% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TLB Co. Ltd. right now?
The price sits above even our optimistic bull case (20,487 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (11,031 KRW to 20,487 KRW) leaves room in how you read the outcome.
Key figures of TLB Co. Ltd.
How large is the market capitalisation of TLB Co. Ltd. (356860)?
The market capitalisation of TLB Co. Ltd. is 671B KRW (≈ $492M). 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 TLB Co. Ltd. (356860)?
The price-to-sales ratio of TLB Co. Ltd. is 2.20 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of TLB Co. Ltd. (356860)?
Earnings per share at TLB Co. Ltd. are 1,299 KRW (price ÷ EPS = P/E 27.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TLB Co. Ltd. (356860)?
The dividend yield of TLB Co. Ltd. is 1.2% (payout 24.2%). 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 TLB Co. Ltd. (356860)?
The net margin of TLB Co. Ltd. is 10.8% (last twelve months). 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 TLB Co. Ltd. (356860)?
The return on equity (ROE) of TLB Co. Ltd. is 25.4% (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 TLB Co. Ltd. (356860)?
On an EBIT basis the return on assets of TLB Co. Ltd. is 9.6% (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 TLB Co. Ltd. (356860)?
The operating margin of TLB Co. Ltd. is 14.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TLB Co. Ltd. (356860)?
Revenue at TLB Co. Ltd. is growing +37.8% versus a year earlier (3y avg +5.3%). 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 TLB Co. Ltd. (356860)?
Earnings per share at TLB Co. Ltd. are growing +138% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does TLB Co. Ltd. (356860) generate?
The free cash flow of TLB Co. Ltd. is −28.7B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does TLB Co. Ltd. (356860) carry?
The net debt of TLB Co. Ltd. is 61.8B KRW (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 5, 2026