Hanla IMS Co. Ltd (092460) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hanla IMS Co. Ltd stock KRW 22,442, price KRW 12,430, upside +80.5%, quality 60 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 4,007 KRW – 21,650 KRW · fair‑value band 12,631 KRW – 33,023 KRW · the 12,430 KRW price screens below the 22,442 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Hanla IMS Co., Ltd. provides integrated systems for shipbuilding and offshore plants, onshore plants, and green industries in South Korea and internationally.
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The company's Instrument division offers level instrumentations, cargo tank measuring systems, tank remote sounding systems, and loading computer systems. Its Environment division offers ballast water management systems under the Hanla Eco Guardian name.
The company's LED division provides LED lighting products, lamps, modules, and displays. Hanla IMS Co., Ltd. was founded in 1989 and is headquartered in Busan, South Korea.
Stock analysis
Hanla IMS Co. Ltd (092460) currently trades at 12,430 KRW, while our model-based Fair Value estimate is 22,442 KRW, implying the stock looks roughly 45% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 37,035 KRW per share, and 19 of the 26 models we run sit above the 12,430 KRW price.
Bear case: the Dividend Discount group reads lowest at 3,277 KRW, and 7 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 12,631 KRW (bear) to 33,023 KRW (bull), the price of 12,430 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 60/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hanla IMS Co. Ltd reported revenue of 133B KRW in FY2025 versus 56.5B KRW in FY2021, a compound +24.0%/yr. Reported net income was 25.5B KRW in FY2025, compounding +58.9%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 242B KRW (≈ $179M) Micro · P/S ratio 2.79 · Dividend yield 1.7% · Net margin 11.4% · Return on equity 900% · Return on assets (EBIT) 5.0% (5-year average) · Operating margin 9.1% · Revenue (TTM) 86.8B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (medium confidence).
What moves the price
The share trades about 43% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −32% fair-value upside, at 81%, 092460 screens cheaper than that median.
Fair Value models
Bear12,631 KRWFair Value 22,442 KRWBull33,023 KRW
Price 12,430 KRW · Upside +80.5%
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.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.86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+28.1%
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.
+10.6%
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.
+19.7%
Start year 2020 (pandemic). Over 10 years: +11.0% a year
Revenue growth 14 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.
+9.1%
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What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘ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 5 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+55.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+53.9%
Dividend (yield on the price)1.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.45.7% vs 20.3%, picking up
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.3% → 17%
2025 sits 78% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
+14.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +11.8% a year for the price.
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Is Hanla IMS Co. Ltd (092460) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 22,442 KRW versus a price of 12,430 KRW, about +81% upside (undervalued).
What is the fair value of 092460?
Our model-based fair value for Hanla IMS Co. Ltd is 22,442 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 12,430 KRW.
What is the quality score of 092460?
Hanla IMS Co. Ltd has a Quality Score of 60/100. 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 Hanla IMS Co. Ltd (092460)?
Our model-based price target is the fair value of 22,442 KRW (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 12,631 KRW, optimistic scenario 33,023 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hanla IMS Co. Ltd stock forecast for 2026?
Our models put fair value at 22,442 KRW, about +81% upside versus a price of 12,430 KRW (undervalued). Cautious scenario 12,631 KRW, optimistic scenario 33,023 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hanla IMS Co. Ltd (092460)?
Hanla IMS Co. Ltd reported trailing-twelve-month revenue of about 86.8B KRW (latest available figure, as of Nov 8, 2026).
Does Hanla IMS Co. Ltd pay a dividend?
Hanla IMS Co. Ltd currently shows a dividend yield of 1.70% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Hanla IMS Co. Ltd (092460)?
Hanla IMS Co. Ltd has a dividend yield of 1.7%. A dividend has been paid every year since 2014. Our assessment: Safety not assessed. Payout ratio and cash coverage are not available, so we do not judge how safe this dividend is.
What growth is priced into Hanla IMS Co. Ltd (092460)?
For today's price to be fair in a discounted-cash-flow model, Hanla IMS Co. Ltd would have to grow free cash flow by +14.1 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +19.7 % per year. Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 092460 use?
Our models discount Hanla IMS Co. Ltd at 12.4 %: a base by market capitalisation (micro), damped by beta 0.79, 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 Hanla IMS Co. Ltd that is +14.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Hanla IMS Co. Ltd (092460) delivered so far?
Over the past 5 years revenue at Hanla IMS Co. Ltd grew +19.7 % a year. The price currently implies free-cash-flow growth of +14.1 % 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 Hanla IMS Co. Ltd (092460) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Hanla IMS Co. Ltd (+14.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hanla IMS Co. Ltd (092460)?
The free-cash-flow yield on the price is 4.01 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Hanla IMS Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hanla IMS Co. Ltd (092460)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hanla IMS Co. Ltd it is 22,442 KRW per share (as of Nov 8, 2026), against a price of 12,430 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 Hanla IMS Co. Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 092460 trades below its calculated fair value: price 12,430 KRW, fair value 22,442 KRW, a gap of about +81% (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 092460?
No. The price is what the market pays today (12,430 KRW); the fair value is what the company's own numbers justify (22,442 KRW). For Hanla IMS Co. Ltd the two are 10,012 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hanla IMS Co. Ltd worth?
The market values Hanla IMS Co. Ltd at about 242B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 12,430 KRW; our models calculate a fair value of 22,442 KRW per share.
What do the bullish and bearish scenarios say about 092460?
Our models span a range for Hanla IMS Co. Ltd: cautious scenario 12,631 KRW, base 22,442 KRW, optimistic 33,023 KRW per share (as of Nov 8, 2026, price 12,430 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hanla IMS Co. Ltd (092460)?
Balance-sheet figures for Hanla IMS Co. Ltd (as of Nov 8, 2026): debt of 0.00 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 092460 from its 52-week high?
Hanla IMS Co. Ltd trades at 12,430 KRW, about 43% below its 52-week high of 21,650 KRW and at the low of 12,430 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 22,442 KRW is for.
Which stocks are comparable to Hanla IMS Co. Ltd?
From the same area (Industrials) we also value Sungho Electronics Corp, SPG Co, BHI Co, VITZROCELL Co, 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 Hanla IMS Co. Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price 12,430 KRW, calculated fair value 22,442 KRW (+81%), Quality Score 60/100, 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 092460 calculated?
We run Hanla IMS Co. Ltd 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 22,442 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. Hanla IMS Co. Ltd currently trades 45% 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 Hanla IMS Co. Ltd (092460)?
The closing price on Nov 6, 2026 was 12,430 KRW. Our model-based fair value is 22,442 KRW, about +81% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hanla IMS Co. Ltd right now?
The model range is unusually wide (12,631 KRW to 33,023 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Hanla IMS Co. Ltd
How large is the market capitalisation of Hanla IMS Co. Ltd (092460)?
The market capitalisation of Hanla IMS Co. Ltd is 242B KRW (≈ $179M). 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 Hanla IMS Co. Ltd (092460)?
The price-to-sales ratio of Hanla IMS Co. Ltd is 2.79 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Hanla IMS Co. Ltd (092460)?
The dividend yield of Hanla IMS Co. Ltd is 1.7%. 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 Hanla IMS Co. Ltd (092460)?
The net margin of Hanla IMS Co. Ltd is 11.4% (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 Hanla IMS Co. Ltd (092460)?
The return on equity (ROE) of Hanla IMS Co. Ltd is 900% (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 Hanla IMS Co. Ltd (092460)?
On an EBIT basis the return on assets of Hanla IMS Co. Ltd is 5.0% (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 Hanla IMS Co. Ltd (092460)?
The operating margin of Hanla IMS Co. Ltd is 9.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hanla IMS Co. Ltd (092460)?
Revenue at Hanla IMS Co. Ltd is growing +109% versus a year earlier (3y avg +10.6%). 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 Hanla IMS Co. Ltd (092460)?
Earnings per share at Hanla IMS Co. Ltd are growing +240% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hanla IMS Co. Ltd (092460) carry?
The net debt of Hanla IMS Co. Ltd is 1.2B KRW (fiscal year 2024, ≈ 0.1 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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Some data
Nov 8, 2026