Hanwha (000880) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hanwha KRW 128,602, price KRW 130,000, upside -1.1%, quality 30 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Hanwha
000880 · KOLow PriorityFair Value upside is limited and quality is weak.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 26,501 KRW – 193,709 KRW · fair‑value band 100,410 KRW – 175,280 KRW · the 130,000 KRW price screens above the 128,602 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Hanwha Corporation engages in the manufacture and sale of explosives and industrial machinery, trading, and general construction businesses.
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Hanwha Corporation engages in the manufacture and sale of explosives and industrial machinery, trading, and general construction businesses. The company operates through Gunpowder Manufacturing; Wholesale and Retail; Chemical Manufacturing; Shipbuilding Industry; Construction Industry; Leisure/Service Industry; Solar Power Business; Financial Industry; And Other Sectors segments. It is involved in manufacturing and sales of explosives, such as defense products, industrial explosives, etc.; trade and wholesale/retail business; ship design, manufacturing and construction; construction industry, such as architecture, civil engineering, plant, environment, housing business, etc.; sports facility operation and tourism accommodation, IT outsourcing; manufacturing and sales of solar energy-related products and solar power generation; insurance business, deposit income business, securities brokerage business; and other manufacturing and sales business. The company also produces and sells military equipment, such as self-propelled guns, armored vehicles, precision-guided weapons, conventional ammunition, and radars; gas turbine engines and engine parts, aircraft machinery parts, etc.; and CCTVs, storage devices, monitors, etc. In addition, it engages in the trade, department stores, and wholesale and retail of petroleum/petrochemical, steel/non-ferrous, machinery, agricultural, livestock, fishery products, mineral resources, etc. Further, the company is involved in the production and maintenance of parts for aircraft, launch vehicles, and various engines; satellite systems, electro-optical cameras, satellite ground stations, etc.; and building ships and special vessels. Additionally, it engages golf course; hotel; and real estate industry. The company was formerly known as Korea Explosives Corp. and changed its name to Hanwha Corporation in March 1993. Hanwha Corporation was founded in 1952 and is headquartered in Seoul, South Korea.
Stock analysis
Hanwha (000880) currently trades at 130,000 KRW, while our model-based Fair Value estimate is 128,602 KRW, implying the stock looks roughly 1.1% fairly valued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 835,310 KRW per share, and 5 of the 10 models we run sit above the 130,000 KRW price.
Bear case: the Earnings-Based group reads lowest at 54,549 KRW, and 5 of the 10 models stay below the price. Evidence for this calculation is medium.
Scenario range: 100,410 KRW (bear) to 175,280 KRW (bull), the price of 130,000 KRW sits inside 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 30/100 (below-average quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Hanwha reported revenue of 74.8T KRW in FY2025 versus 52.8T KRW in FY2021, a compound +9.1%/yr. Reported net income was 372B KRW in FY2025, compounding −19.8%/yr from FY2021.
Key figures
Market cap 11.6T KRW (≈ $8.1B) · P/S ratio 0.14 · Dividend yield 0.8% · Net margin 0.5% · Return on equity 5.2% · Return on assets (EBIT) 1.2% · Operating margin 5.9% · Revenue (TTM) 79.6T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 55% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 15% fair-value upside, at −1%, 000880 screens richer than that median.
Fair Value models
All 10 models by family
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Set up alert →Quality Score breakdown
Of which business quality 29 · Market factors (momentum, volatility) 29
Revenue & earnings trend
Growth Forecast
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Compare Hanwha with another stock
Price, fair value, quality and upside side by side.
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.Conglomerates · 380 stocks
Valuation Multiplesvs Conglomerates median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: South Korean Stocks
- Valuation of the Korea market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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| SK Inc 034730 | 611,000 KRW | 360,206 KRW | −41% |
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| Jardine Matheson Holdings J36 | $57.30 | $79.11 | +38% |
| SGH Limited SGH | A$36.69 | A$42.47 | +16% |
| Kingdom Holding 4280 | 13.07 SAR | 12.96 SAR | −1% |
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Key figures of Hanwha
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