TLB Co., Ltd.

TLB Co., Ltd.

KKRX:356860
36,650.00
KRW
-850.00
(-2.27%)
1,573.90EPS
26.06P/E
1.04TMarket Cap
Nov 18Next Earn
TLB Co., Ltd.
KRX:356860
(Korea Stock Exchange)

Recent

price

36,650.00

P/E

ratio

26.06

div

yld

0.25%

ROIC.AI

2019
2020
2021
2022
2023
2024
2025
TTM
KRW
8,510.13
10,354.17
8,267.63
10,285.97
7,991.16
8,425.36
12,134.03
14,664.31
Revenue per Share
540.2
664.58
576.14
1,418.63
117.31
169.34
894.17
1,579.12
Basic EPS, GAAP
157.3
607.94
-1,321.28
765.76
-1,236.05
-612.35
-1,347.12
-1,724.33
Free Cash Flow per Basic Share
11.41
15.75
- -
57.06
137.6
91.49
182.55
93.33
Dividend per Share
1,177.64
3,296.6
3,863.67
5,214.22
5,149.37
5,261.87
5,921.04
5,740.7
Book Value per Share
1,153.69
3,265.02
3,835.47
5,190.11
5,115.28
5,235.44
5,809.41
5,654.01
Tangible Book Value per Share
18
18
22
22
21
21
21
21
Basic Weighted Avg Shares
149,136
184,112
178,100
221,548
171,307
180,001
258,498
305,533
Sales/Revenue/Turnover
7.43
8.23
7.51
17.36
1.78
1.87
10.04
13.33
Operating Margin (%)
3,038
3,601
4,039
5,273
6,192
6,824
8,346
8,915
Depreciation Expense
9,467
11,817
12,411
30,556
2,515
3,618
19,049
32,901
Net Income, GAAP
11.91
17.32
16.62
20.1
23.17
26.6
22.25
21.55
Effective Tax Rate (%)
6.35
6.42
6.97
13.79
1.47
2.01
7.37
10.77
Profit Margin (%)
-2,349
40,007
26,423
49,683
32,145
18,372
678
13,403
Working Capital
13,530
15,742
13,295
23,784
26,266
23,119
16,967
31,230
LT Debt
25,370
71,018
83,230
112,316
110,237
112,099
126,043
144,683
Total Equity
- -
17.91
11.41
24.48
1.57
1.55
10.5
15.33
Return on Invested Capital (%)
- -
17.83
13.15
25.77
2.41
3.13
11.2
17.18
Return on Capital (%)
- -
24.52
16.09
31.25
2.26
3.25
15.99
25.44
Return on Common Equity (%)

Capital Structure

KRW

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
69,753
76,747
62,419
LT Borrowings
16,752
15,618
30,793
LT Finance Leases
216
180
437
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
21
21
25
Market Capitalization
581,413
610,581
1,038,084

Working Capital

KRW

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
103,412
107,948
112,552
Cash, Cash Equivalents & STI
24,677
14,519
11,912
Accounts Receivable, Net
27,454
30,204
39,014
Inventories
45,273
53,389
53,445
Total Current Liabilities
102,733
113,267
99,149
Payables & Accruals
- -
- -
- -
ST Debt
69,753
76,747
62,419
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
12.89%
12.44%
Free Cash Flow
- -
-142.63%
119.37%
Net Income, GAAP
- -
105.97%
426.53%
Sales/Revenue/Turnover
- -
9.43%
43.61%
Total Cash Common Dividend
- -
- -
98.98%

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
44,248
39,484
46,446
49,824
180,001
2025
52,990
64,053
68,888
72,567
258,498
2026
75,835
88,243
- -
- -
- -

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
10.5
52.49
36.97
68.85
169.34
2025
42.45
212.7
306.74
332.54
894.17
2026
398.85
555
- -
- -
- -

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
91.49
2025
- -
- -
- -
91.29
182.55
2026
- -
- -
- -
- -
- -
Business
TLB Co., Ltd. is a South Korea-based technology company specializing in the design, engineering, and manufacture of high-performance printed circuit boards (PCBs) primarily for the global semiconductor and data storage industries. Founded in 2011 as a spin-off from Daeduck Electronics and headquartered in Ansan-si, Gyeonggi-do, South Korea, the company operates within the electronic components sector and trades on the KOSDAQ market under the ticker 356860. TLB Co., Ltd. serves tier-one integrated device manufacturers, memory producers, and computing hardware companies, including Samsung Electronics, SK Hynix, and Micron Technology, supplying specialized substrate solutions for enterprise data centers, artificial intelligence servers, and high-performance computing platforms. The company's core product portfolio encompasses a comprehensive range of multilayer, high-density interconnect printed circuit boards engineered to meet rigorous speed and thermal standards. Main product offerings include Solid-State Drive (SSD) PCBs, comprising high-density substrate boards for enterprise and client SSDs utilizing PCIe, NVMe, SAS, and SATA interfaces; Memory Module PCBs, encompassing high-speed boards for DDR4 and DDR5 Registered Dual In-line Memory Modules (R-DIMM), Load-Reduced Dual In-line Memory Modules (LR-DIMM), Unbuffered Dual In-line Memory Modules (U-DIMM), and Small Outline Dual In-line Memory Modules (SO-DIMM); Next-Generation AI and High-Bandwidth Substrates, featuring Compute Express Link (CXL) memory expander PCBs, Small Outline CXL-based Advanced Memory Module (SOCAMM and SOCAMM2) boards, and Low Power Compression Attached Memory Module (LPCAMM2) substrates; and Semiconductor Test Board PCBs, consisting of probe card boards, burn-in boards, and final test interface boards utilized for wafer and package-level semiconductor reliability testing. In addition to precision hardware fabrication, the company delivers engineering design verification, signal integrity analysis, surface-mount technology assembly support, and custom layout optimization services. TLB Co., Ltd. conducts operations across South Korea and Southeast Asia, maintaining primary production and research facilities in Ansan-si, South Korea, alongside its overseas manufacturing subsidiary, TLB VINA CO., LTD., situated in Bac Ninh Province, Vietnam. In recent operational and strategic developments, the company significantly broadened its international manufacturing capacity through the construction and expansion of a second production plant at its TLB VINA site in Vietnam to double output capacity and address escalating worldwide demand for memory module substrates. In response to rapid growth in artificial intelligence server architectures, the company has advanced development and customer qualification for next-generation LPDDR6-based SOCAMM substrates and CXL memory expansion boards. Furthermore, TLB Co., Ltd. has integrated artificial intelligence and digital twin technologies into its domestic manufacturing lines through designated smart factory initiatives, enhancing multilayer yield optimization and reinforcing its supply chain integration with global memory manufacturers.