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JONBUR Research · Initiation

You're reading an earlier report from Oct 18, 2026. See the latest report

TOVISCo · 051360 · Electronics

TOVISCo: Low Multiples, 19.6% ROE and Active Share Buyback Activity in the Latest Data

Why this report

Start of coverage: written when a reader opened this company and there was no report yet.

TOVISCo (KOSDAQ: 051360) trades at a P/E of 2.1 and a P/B of 0.4, with trailing revenue of ₩678.1B and an operating margin of 8.6%. The shares are up 16.4% over three months and 21.5% over one year, and a model estimate based on the assumptions shown sits well above the ₩11,650 close.

Written Oct 18, 2026 · Data as of Oct 16, 2026 · 0 views

This is not financial advice. The report does not recommend buying or selling anything.

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Thesis

The data supports a picture of a business that has grown revenue sharply since 2021 and now earns solid profits, yet is valued at very low multiples. P/E of 2.1 and P/B of 0.4 compare with peers at 8.4 to 40.3 times earnings, though the peers are larger and in different lines of business, so the comparison is only a rough guide. Filings show a share buyback and a share cancellation decision in mid-2026, which is consistent with a focus on shareholder returns. What the data does not show is why the market applies such a low multiple. Growth has slowed to 2.7% in 2025 from 39.4% in 2024, and operating income was flat to slightly lower over that period. Short balance data and recent news headlines are not available, so sentiment is hard to gauge.

Business overview

TOVISCo is a KOSDAQ-listed company in the Electronics sector, founded on 1998-09-08 and listed on 2004-11-19, with 9,360,612 listed shares. Market capitalisation is about ₩109.1B and enterprise value about ₩171.8B. Annual revenue rose from ₩263.4B in 2021 to ₩640.3B in 2025. The data does not describe products or customers, so nothing further can be said about what drives the numbers. Foreign ownership is 15.6%, down from 16.6% sixty days earlier.

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Model estimate of fair value

Bear
₩51,452
+369%
Base
₩117,385
+969%
Bull
₩241,012
+2095%

Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal.

Base case of the 5-year discounted cash flow model on the stock's Valuation tab (statements TTM to H1 2026; discount rate 6.3%). Bear and Bull move the main assumptions by fixed steps. See and change the assumptions

Filings and data used

Report history

  1. Oct 21, 2026Update noteModel fair value changeTOVISCo: Model Fair Value Estimate Cut 39% as Discount Rate Rises to 7.5%
  2. Oct 18, 2026InitiationStart of coverage (reader request)TOVISCo: Low Multiples, 19.6% ROE and Active Share Buyback Activity in the Latest Data

Built only from jonbur's own data: prices and investor flows, filed financial statements and filings, and news headlines. Disclosed (filed) data is labelled as such. Written by AI and may contain mistakes.

This is not financial advice. The report does not recommend buying or selling anything.

Source: KRX statistical information