TLB Co. Ltd. (356860) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of TLB Co. Ltd. KRW 15,759, price KRW 44,600, upside -64.7%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 44,600 KRW, while our model-based Fair Value estimate is 15,759 KRW, implying the stock looks roughly 183.0% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 15,759 KRW per share, and 0 of the 14 models we run sit above the 44,600 KRW price.
Bear case: the Asset-Based group reads lowest at 3,335 KRW, and 14 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: 11,031 KRW (bear) to 20,487 KRW (bull), the price of 44,600 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 820B KRW (≈ $574M) · P/S ratio 3.65 · Dividend yield 0.5% · Net margin 7.4% · Return on equity 21.7% · Return on assets (EBIT) 9.6% · Operating margin 14.1% · Revenue (TTM) 281B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 117% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at −65%, 356860 screens richer than that median.
Fair Value models
Bear 11,031 KRWFair Value 15,759 KRWBull 20,487 KRW
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.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.47/100
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.
−13.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.3%
Dividend (yield on the price)0.5%
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 · 335 stocks
Beats the industry median on 6/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−78% · Bottom 25%
Profitability
Return on equity (TTM)22% · Top 25%
Return on assets9% · Top 25%
Net margin (TTM)9% · Above median
Operating margin (TTM)14% · Above median
Growth and dividend
Revenue growth43% · Top 25%
Dividend yield (TTM)0.5% · Below median
Balance sheet
Debt / equity0.13× · Above median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 64
PAST (return on equity)87· sector 24
HEALTH (low debt)93· sector 95
DIVIDEND (yield)9· sector 18
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 Sep 24, 2026, our model estimates a fair value of 15,759 KRW versus a price of 44,600 KRW, about −65% upside (overvalued).
What is the fair value of 356860?
Our model-based fair value for TLB Co. Ltd. is 15,759 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 44,600 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 Sep 24, 2026) from 14 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 −65% upside versus a price of 44,600 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 281B KRW (latest available figure, as of Sep 24, 2026).
Does TLB Co. Ltd. pay a dividend?
TLB Co. Ltd. currently shows a dividend yield of about 0.46% relative to its recent price (as of Sep 24, 2026).
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 Sep 24, 2026), against a price of 44,600 KRW. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is TLB Co. Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 356860 trades above its calculated fair value: price 44,600 KRW, fair value 15,759 KRW, a gap of about −65% (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 (44,600 KRW); the fair value is what the company's own numbers justify (15,759 KRW). For TLB Co. Ltd. the two are 28,841 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 820B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 44,600 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 Sep 24, 2026, price 44,600 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of TLB Co. Ltd. (356860)?
Balance-sheet figures for TLB Co. Ltd. (as of Sep 24, 2026): return on equity 21.7%, 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 44,600 KRW, about 29% below its 52-week high of 62,499 KRW and 117% above the low of 20,550 KRW (as of Sep 23, 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, SK hynix 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 Sep 24, 2026: price 44,600 KRW, calculated fair value 15,759 KRW (−65%), Quality Score 61/100, from 14 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 14 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 15,759 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 14.1 % 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 Sep 23, 2026 was 44,600 KRW. Our model-based fair value is 15,759 KRW, about −65% upside (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 820B KRW (≈ $574M). 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 3.65 (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 TLB Co. Ltd. (356860)?
The dividend yield of TLB Co. Ltd. is 0.5%. 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 7.4% (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 TLB Co. Ltd. (356860)?
The return on equity (ROE) of TLB Co. Ltd. is 21.7% (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 14.1% (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 +43.1% 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 +840% 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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