Hana Tour (039130) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hana Tour stock KRW 62,076, price KRW 28,600, upside +117.1%, quality 66 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 27,050 KRW – 75,679 KRW · fair‑value band 43,454 KRW – 80,699 KRW · the 28,600 KRW price screens below the 62,076 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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Hanatour Service Inc. engages in the provision of travel and related services in South Korea, Northeast and Southeast Asia, the United States, and Europe. It offers tour, online, and AI services; B2B business; affiliates; and partnerships.
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The company was formerly known as Kook-Jin travel Agency and changed its name to Hanatour Service Inc. in March 1996. Hanatour Service Inc. was founded in 1993 and is headquartered in Seoul, South Korea.
Stock analysis
Hana Tour (039130) currently trades at 28,600 KRW, while our model-based Fair Value estimate is 62,076 KRW, implying the stock looks roughly 54% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 88,243 KRW per share, and 21 of the 26 models we run sit above the 28,600 KRW price.
Bear case: the Dividend Discount group reads lowest at 25,132 KRW, and 5 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 43,454 KRW (bear) to 80,699 KRW (bull), the price of 28,600 KRW sits below 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 66/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hana Tour reported revenue of 587B KRW in FY2025 versus 40.3B KRW in FY2021, a compound +95.4%/yr. Reported net income was 31.9B KRW in FY2025.
Key figures
Market cap 443B KRW (≈ $328M) Small · P/E ratio 10.1 · P/S ratio 0.75 · EPS (TTM) 2,693 KRW · Dividend yield 4.2% · Net margin 6.7% · Return on equity 33.0% · Return on assets (EBIT) −6.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 44% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 117%, 039130 screens cheaper than that median.
Fair Value models
Bear43,454 KRWFair Value 62,076 KRWBull80,699 KRW
Price 28,600 KRW · Upside +117.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1,280 KRW per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.8%
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.
+72.2%
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.
+39.9%
Start year 2020 (pandemic). Over 10 years: +2.5% a year
Revenue growth 20 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.
+8.2%
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What shareholders gained per year (last 3 years), in KRW ⓘ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 3 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. 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.
−7.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.1%
Dividend (yield on the price)4.2%
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.−105% → 10%
⚠ Revenue per share shrinking 6.7%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−19.8%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −21.5% a year for the price and +5.2% for the forecasts.
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.Travel Services · 87 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+117.1% · Top 25%
Profitability
Return on equity (12 months)33.0% · Top 25%
Return on assets4.9% · Above median
Net margin (12 months)6.7% · Above median
Operating margin (12 months)4.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)−3.8% · Below median
Dividend yield (12 months)4.2% · Above median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Travel Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Hana Tour Fair Value". https://www.fairvalue-calculator.com/stock/039130
Frequently asked questions
Is Hana Tour (039130) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 62,076 KRW versus a price of 28,600 KRW, about +117% upside (undervalued).
What is the fair value of 039130?
Our model-based fair value for Hana Tour is 62,076 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 28,600 KRW.
What is the quality score of 039130?
Hana Tour has a Quality Score of 66/100. 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 Hana Tour (039130)?
Our model-based price target is the fair value of 62,076 KRW (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 43,454 KRW, optimistic scenario 80,699 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hana Tour stock forecast for 2026?
Our models put fair value at 62,076 KRW, about +117% upside versus a price of 28,600 KRW (undervalued). Cautious scenario 43,454 KRW, optimistic scenario 80,699 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hana Tour (039130)?
Hana Tour reported trailing-twelve-month revenue of about 589B KRW (latest available figure, as of Nov 8, 2026).
Does Hana Tour pay a dividend?
Hana Tour currently shows a dividend yield of 4.20% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Hana Tour (039130) and when is the ex-dividend date?
Hana Tour pays a dividend of 1,200 KRW per share a year, a dividend yield of 4.2%. The last ex-dividend date was Jan 2, 2026. The payout ratio is 44.6% of earnings. Free cash flow covers the dividend 5.45 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Hana Tour (039130)?
For today's price to be fair in a discounted-cash-flow model, Hana Tour would have to grow free cash flow by -19.8 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +39.9 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 039130 use?
Our models discount Hana Tour at 10.2 %: a base by market capitalisation (small), damped by beta 0.47, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Hana Tour that is -19.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Hana Tour (039130) delivered so far?
Over the past 5 years revenue at Hana Tour grew +39.9 % a year. The price currently implies free-cash-flow growth of -19.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Hana Tour (039130) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Hana Tour (-19.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hana Tour (039130)?
The free-cash-flow yield on the price is 21.65 %: that much free cash flow Hana Tour produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hana Tour (039130)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hana Tour it is 62,076 KRW per share (as of Nov 8, 2026), against a price of 28,600 KRW. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Hana Tour stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 039130 trades below its calculated fair value: price 28,600 KRW, fair value 62,076 KRW, a gap of about +117% (undervalued). 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 039130?
No. The price is what the market pays today (28,600 KRW); the fair value is what the company's own numbers justify (62,076 KRW). For Hana Tour the two are 33,476 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hana Tour worth?
The market values Hana Tour at about 443B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 28,600 KRW; our models calculate a fair value of 62,076 KRW per share.
What do the bullish and bearish scenarios say about 039130?
Our models span a range for Hana Tour: cautious scenario 43,454 KRW, base 62,076 KRW, optimistic 80,699 KRW per share (as of Nov 8, 2026, price 28,600 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 039130?
Hana Tour trades at a price-to-earnings ratio of 10.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 62,076 KRW is built from several models across several years. Other multiples: P/B 3.0, P/S 0.8, EV/EBITDA 4.5.
How solid is the balance sheet of Hana Tour (039130)?
Balance-sheet figures for Hana Tour (as of Nov 8, 2026): return on equity 33.0%, debt of 0.01 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 039130 from its 52-week high?
Hana Tour trades at 28,600 KRW, about 44% below its 52-week high of 51,100 KRW and 6% above the low of 27,050 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 62,076 KRW is for.
Which stocks are comparable to Hana Tour?
From the same area (Consumer Cyclical) we also value Booking Holdings, Airbnb, Inc, Royal Caribbean Cruises Ltd, Viking Holdings, 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 Hana Tour stock attractive at the current price?
The data as of Nov 8, 2026: price 28,600 KRW, calculated fair value 62,076 KRW (+117%), Quality Score 66/100, from 26 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 039130 calculated?
We run Hana Tour through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 62,076 KRW builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Hana Tour currently trades 54% below its own fair value, and the market average says nothing about that. 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 Hana Tour (039130)?
The closing price on Nov 6, 2026 was 28,600 KRW. Our model-based fair value is 62,076 KRW, about +117% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hana Tour right now?
The price is below even our cautious bear case (43,454 KRW). The market is more pessimistic than our downside scenario. Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (43,454 KRW to 80,699 KRW) leaves room in how you read the outcome.
Key figures of Hana Tour
How large is the market capitalisation of Hana Tour (039130)?
The market capitalisation of Hana Tour is 443B KRW (≈ $328M). 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 Hana Tour (039130)?
The price-to-sales ratio of Hana Tour is 0.75 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hana Tour (039130)?
Earnings per share at Hana Tour are 2,693 KRW (price ÷ EPS = P/E 10.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hana Tour (039130)?
The dividend yield of Hana Tour is 4.2% (payout 44.6%). 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 Hana Tour (039130)?
The net margin of Hana Tour is 6.7% (last twelve months). 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 Hana Tour (039130)?
The return on equity (ROE) of Hana Tour is 33.0% (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 Hana Tour (039130)?
On an EBIT basis the return on assets of Hana Tour is −6.1% (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 Hana Tour (039130)?
The operating margin of Hana Tour is 4.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hana Tour (039130)?
Revenue at Hana Tour is growing −3.8% versus a year earlier (3y avg +72.2%). 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 Hana Tour (039130)?
Earnings per share at Hana Tour are growing −38.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hana Tour (039130) carry?
The net debt of Hana Tour is 24.0B KRW (fiscal year 2020, ≈ 0.3 yrs of FCF). 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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Broad data
Nov 8, 2026