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TKD Science and Technology Co (603738) Fair Value & Analysis

Technology · CN · Market cap 14.1B CNY

TS TKD Science and Technology Co 603738 · SHG
Price¥36.24
Fair Value¥34.51
Upside-4.8%
Quality54/100
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Expensive Growth
Thin margins · 6.7% net margin
Low debt · negative free cash flow
0.11% dividend yield
Mixed vs. peers (6/13)
Narrow moat 31/100
Evidence: High Range ¥25.88 – ¥38.51 Share as image

Fair value as of: Aug 11, 2026

From 17 valuation models · updated today

Fair value updated Aug 11, 2026, revised from ¥2.84 to ¥34.51 (+1,115.1%) since Jul 11, 2026. Share price −22.2% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ¥25.88 (bear) to ¥38.51 (bull), base ¥34.51. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 54/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥66.06 ¥9.77 Fair Value ¥34.51 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 11, 2026.

How to read this chart

60‑month range ¥9.77 – ¥66.06 · fair‑value band ¥25.88 – ¥38.51 · the ¥36.24 price screens above the ¥34.51 fair value. Dashed = 300-day average. As of Aug 11, 2026.

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Analysis

TKD Science and Technology Co (603738) currently trades at ¥36.24, while our model-based Fair Value estimate is ¥34.51, implying the stock looks roughly 4.8% fairly valued today. The Quality Score stands at 54/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, TKD Science and Technology Co generated revenue of 992M CNY at a net margin of 6.7%. Revenue grew 24.3% year over year. It earns a return on equity of 3.8%. The balance sheet holds a net cash position of 175M CNY. Fundamentals as of Aug 11, 2026

Our scenario range runs from ¥25.88 (bear case) to ¥38.51 (bull case); at ¥36.24, the current price sits within 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 38% below its 52-week high and 164% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -5%, 603738 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
Residual Income ¥3.34 ¥3.27 ¥2.78 76
ROIC Compounder ¥1.43 ¥1.63 ¥1.80 72
Gordon GGM ¥0.7300 ¥1.52 ¥2.41 70
All 17 models by family
DCF Models
Owner Earnings ¥1.04 ¥1.66 ¥2.70 31
Earnings-Based
Graham-Dodd ¥0.9200 ¥3.99 ¥5.46 54
Lynch FV ¥1.03 ¥1.47 ¥1.91 50
PEG = 1.0 ¥1.03 ¥1.47 ¥1.91 46
EPV ¥1.43 ¥1.63 ¥1.80 59
Dividend Discount
Gordon GGM ¥0.7300 ¥1.52 ¥2.41 70
DDM Multi-Stage ¥0.7300 ¥1.28 ¥1.60 61
Multiples
P/E Multiple ¥2.13 ¥2.84 ¥3.55 63
P/S Multiple ¥1.73 ¥2.30 ¥2.88 58
P/B Multiple ¥1.73 ¥2.30 ¥2.88 55
EV/EBIT ¥2.14 ¥2.77 ¥3.41 53
EV/EBITDA ¥4.44 ¥5.84 ¥7.24 54
EV/Revenue ¥1.59 ¥2.17 ¥2.76 43
Asset-Based
NCAV (Graham) ¥2.30 ¥3.08 ¥4.60 50
Economic Profit
Residual Income ¥3.34 ¥3.27 ¥2.78 76
ROIC Compounder ¥1.43 ¥1.63 ¥1.80 72
Growth Earnings
Growth-Adj P/E ¥1.71 ¥2.44 ¥3.17 68

Widest divergence: Asset-Based (¥3.08) versus Dividend Discount (¥1.28). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 992M CNY
Revenue growth (YoY) +24.3%
Net margin 6.7%
Return on equity 3.8%
Free cash flow −13.8M CNY FY2025
P/E ratio 299.8
More key figures
Operating margin 9.9%
EPS (TTM) ¥0.1800
Dividend yield 0.1%
EPS growth (YoY) +200%
Net cash 175M CNY FY2024

Figures from reported company fundamentals · as of Aug 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 54 · Market factors (momentum, volatility) 60

Profitability 25
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 36
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 75
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

TKD Science and Technology Co.,Ltd. researches, develops, produces, and sells quartz frequency control components and production equipment in primarily China.

Full company description

TKD Science and Technology Co.,Ltd. researches, develops, produces, and sells quartz frequency control components and production equipment in primarily China. The company offers quartz crystal resonators; oscillators; thermistors; products containing DIP; SMD encapsulation of high and low frequency crystal resonators; upstream chips; and WAFER, pedestal, shell, etc. Its products are used in information devices, mobile terminals, network equipment, automotive electronics, consumer electronics, small electronic devices, etc. TKD Science and Technology Co.,Ltd. was formerly known as Hubei TKD Crystal Electronic Science and Technology Co., Ltd. and changed its name to TKD Science And Technology Co., Ltd. in May 2019. The company was founded in 2003 and is based in Suizhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TKD Science and Technology Co reported revenue of ¥944M in FY2025 versus ¥1.2B in FY2021, a compound −6.6%/yr. Reported net income was ¥52.2M in FY2025, compounding −32.0%/yr from FY2021.

Growth Quality 45/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
944M CNY
Latest YoY
+14.9%
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.
+1.0%
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.
+8.4%
Avg. growth/yr (14Y) 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.
+11.9%
Revenue −6.6%/yr
FY21 ¥1.2B
FY22 ¥916M
FY23 ¥793M
FY24 ¥821M
FY25 ¥944M
Net income −32.0%/yr
FY21 ¥245M
FY22 ¥189M
FY23 ¥101M
FY24 ¥87.6M
FY25 ¥52.2M
Character of growth · EPS growth decomposed (2013-2024) +5.4 % p.a.
Revenue per share +7.9 pp

of which total revenue +14.1 pp · buybacks/dilution −6.2 pp

EBIT margin −2.9 pp
Tax rate +0.9 pp
Residual (interest, one-offs) −0.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "TKD Science and Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/603738

Peer Group

Electronic Components · 627 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 54 · Above median
Fair Value upside −5% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth 24% · Top 25%
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 203.5× · Pricier than 75% of peers
P/B 7.97× · Pricier than 75% of peers
P/S (TTM) 14.24× · Pricier than 75% of peers
EV/EBITDA 90.7× · Pricier 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 27 · sector 0
FUTURE 100 · sector 32
PAST 15 · sector 24
HEALTH 99 · sector 95
DIVIDEND 2 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 11, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is TKD Science and Technology Co (603738) overvalued or undervalued?
As of Aug 11, 2026, our model estimates a fair value of ¥34.51 versus a price of ¥36.24, about −5% (fairly valued).
What is the fair value of 603738?
Our model-based fair value for TKD Science and Technology Co is ¥34.51 (as of Aug 11, 2026), built from audited fundamentals. The current price is ¥36.24.
What is the quality score of 603738?
TKD Science and Technology Co has a Quality Score of 54/100. 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 TKD Science and Technology Co (603738)?
TKD Science and Technology Co reported trailing-twelve-month revenue of about 992M CNY (latest available figure, as of Aug 11, 2026).
What is the net profit margin of 603738?
The net profit margin of TKD Science and Technology Co is about 6.7%, meaning it keeps roughly 6.7% of revenue as net income. Based on the latest reported figures.
Does TKD Science and Technology Co pay a dividend?
TKD Science and Technology Co currently shows a dividend yield of about 0.11% relative to its recent price (as of Aug 11, 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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