Major Estimate Revision • Jun 16
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from ₩145.9m to ₩157.9m. EPS estimate increased from ₩2,316 to ₩2,620 per share. Net income forecast to grow 81% next year vs 69% growth forecast for Semiconductor industry in South Korea. Consensus price target of ₩57,000 unchanged from last update. Share price rose 6.4% to ₩54,600 over the past week. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩57,100, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 463% over the past three years. New Risk • Jun 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). High level of non-cash earnings (29% accrual ratio). Valuation Update With 7 Day Price Move • May 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩50,700, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 423% over the past three years. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩73,200, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 24x in the Semiconductor industry in South Korea. Total returns to shareholders of 740% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩121,010 per share. New Risk • Apr 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (32% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩66,500, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 21x in the Semiconductor industry in South Korea. Total returns to shareholders of 465% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩128,102 per share. Aankondiging • Mar 17
Tfe Inc., Annual General Meeting, Mar 31, 2026 Tfe Inc., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 50-8, banwol-gil, gyeonggi-do, hwaseong South Korea Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩50,900, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 21x in the Semiconductor industry in South Korea. Total returns to shareholders of 564% over the past three years. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩38,700, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Semiconductor industry in South Korea. Total returns to shareholders of 360% over the past three years. Aankondiging • Jan 21
Tfe Inc. announced that it has received KRW 10.525 billion in funding On January 21, 2026. Tfe Inc. announces that it has closed the transaction. Aankondiging • Jan 14
Tfe Inc. announced that it expects to receive KRW 10.525 billion in funding Tfe Inc. announced a private placement to issue Zero Coupon Series 1 Bearer Unsecured Private Convertible Bonds due January 31, 2031 for gross proceeds of KRW 10,525,000,000 on January 13, 2026. The transaction will include participation from new investor Titan No. 5 Limited. The transaction has been approved by shareholders, expected to close on January 21, 2026, 100% convertible into 250,000 shares at a fixed conversion price of KRW 42,100 from January 22, 2026 to December 21, 2030, bears zero coupon rate, zero maturity rate and matures on January 21, 2031. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩45,800, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 417% over the past three years. New Risk • Sep 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.6% net profit margin). Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩38,800, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 93% over the past year. New Risk • May 23
New major risk - Revenue and earnings growth Earnings have declined by 10% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 10% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.1% net profit margin). Aankondiging • Mar 15
Tfe Inc., Annual General Meeting, Mar 28, 2025 Tfe Inc., Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 50-8, banwol-gil, gyeonggi-do, hwaseong South Korea Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩19,550, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 16x in the Semiconductor industry in South Korea. Total loss to shareholders of 50% over the past year. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩17,450, the stock trades at a trailing P/E ratio of 27.5x. Average trailing P/E is 18x in the Semiconductor industry in South Korea. Total loss to shareholders of 46% over the past year. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩18,140, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 17x in the Semiconductor industry in South Korea. Total loss to shareholders of 48% over the past year. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩18,960, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 16x in the Semiconductor industry in South Korea. Total loss to shareholders of 47% over the past year. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩14,850, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 16x in the Semiconductor industry in South Korea. Total loss to shareholders of 59% over the past year. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩14,750, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total loss to shareholders of 60% over the past year. New Risk • Nov 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩136.2b (US$96.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (31% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Market cap is less than US$100m (₩136.2b market cap, or US$96.9m). Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩12,870, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total loss to shareholders of 65% over the past year. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩16,150, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total loss to shareholders of 52% over the past year. Aankondiging • Sep 24
Tfe Inc. (KOSDAQ:A425420) announces an Equity Buyback for KRW 6,000 million worth of its shares. Tfe Inc. (KOSDAQ:A425420) announces a share repurchase program. Under the program, the company will repurchase up to KRW 6,000 million worth of its shares pursuant to a contract with SAMSUNG SECURITIES Co., Ltd. The purpose of the program is to stabilize stock price and improve shareholder value. The program will expire on March 24, 2025. As of September 22, 2024, the company had 0 shares in treasury within scope available for dividend and had 0 shares under other acquisitions. New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Share price has been volatile over the past 3 months (9.9% average weekly change). Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩16,590, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total loss to shareholders of 52% over the past year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₩17,490, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total loss to shareholders of 36% over the past year. New Risk • May 29
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 35% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (9.4% average weekly change). Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: ₩976 (vs ₩721 in FY 2022) Full year 2023 results: EPS: ₩976 (up from ₩721 in FY 2022). Revenue: ₩80.3b (up 26% from FY 2022). Net income: ₩11.1b (up 65% from FY 2022). Profit margin: 14% (up from 11% in FY 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩38,000, the stock trades at a trailing P/E ratio of 58.4x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 327% over the past year. Aankondiging • Feb 07
Tfe Inc. announced that it expects to receive KRW 30 billion in funding Tfe Inc announces private placement of series 1 interest-bearing, unsecured private placement convertible bonds for gross proceeds of KRW 30,000,000,000 on February 5, 2024. The bonds will bear a interest rate of 0% and will mature on February 8, 2029. The bonds will be convertible into 966,184 shares at an conversion price of KRW 31,050 per share from February 8, 2025 to January 8, 2029. The transaction has been approved by the board of the company. the transaction is expected to close on February 8, 2024. The transaction will include participation from JB Woori-Petrico Jeilho New Technology Business Fund. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩28,800, the stock trades at a trailing P/E ratio of 44.2x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 237% over the past year. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to ₩30,000, the stock trades at a trailing P/E ratio of 46.1x. Average trailing P/E is 18x in the Semiconductor industry in South Korea. Total returns to shareholders of 275% over the past year. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩37,600, the stock trades at a trailing P/E ratio of 76.9x. Average trailing P/E is 13x in the Semiconductor industry in South Korea. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩27,650, the stock trades at a trailing P/E ratio of 56.5x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩22,100, the stock trades at a trailing P/E ratio of 40.2x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩24,800, the stock trades at a trailing P/E ratio of 45.1x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 48% After last week's 48% share price gain to ₩19,700, the stock trades at a trailing P/E ratio of 35.8x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. New Risk • Jun 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). High level of non-cash earnings (57% accrual ratio). Minor Risk Less than 3 years of financial data is available. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₩12,980, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩9,850, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 13x in the Semiconductor industry in South Korea. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 39% After last week's 39% share price gain to ₩11,770, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Buying Opportunity • Mar 22
Now 21% undervalued Over the last 90 days, the stock is up 1.1%. The fair value is estimated to be ₩10,701, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last year. Earnings per share has grown by 22%. Buying Opportunity • Mar 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.1%. The fair value is estimated to be ₩10,772, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last year. Earnings per share has grown by 22%.