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Hantop Inc (002680) Fair Value & Analysis

Consumer Defensive · KR · Market cap 15.1B KRW (≈ $10.6M) · ISIN KR7002680007

What is Hantop Inc really worth?

HI Hantop Inc 002680 · KQ
Price2,745 KRW
Fair Value5,721 KRW
Upside+108.4%
Quality44/100

Below-average quality, trading 52% below our fair value of 5,721 KRW.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +1.3 %/yr)
!Loss over the last twelve months · -1.5% net margin · fiscal year 2025 2.5%
!Mixed vs. peers (4/10)
!Narrow moat 15/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range 4,291 KRW – 6,801 KRW

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 21 days ago

Share price +62.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (4,291 KRW). The market is more pessimistic than our downside scenario.

Price vs Fair Value (5 years)

22,950 KRW 1,511 KRW Fair Value 5,721 KRW Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 1,511 KRW – 22,950 KRW · fair‑value band 4,291 KRW – 6,801 KRW · the 2,745 KRW price screens below the 5,721 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hantop Inc (002680) currently trades at 2,745 KRW, while our model-based Fair Value estimate is 5,721 KRW, implying the stock looks roughly 52.0% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Consumer Defensive sector. Bull case: the Multiples group reads highest at a median of 7,067 KRW per share, and 22 of the 24 models we run sit above the 2,745 KRW price. Bear case: the Dividend Discount group reads lowest at 789.79 KRW, and 2 of the 24 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Hantop Inc generated revenue of 81.9B KRW at a net margin of −1.5%. Revenue declined 2.4% year over year. It earns a return on equity of −2.8%. Net debt stands at 66.1B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 4,291 KRW (bear case) to 6,801 KRW (bull case); at 2,745 KRW, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Consumer Defensive peers we cover trades at −19% fair-value upside, at 108%, 002680 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model 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. Evidence
Highest evidence
FCF DCF 2,667 KRW 3,376 KRW 4,688 KRW 81
Growth DCF 2,751 KRW 3,439 KRW 4,615 KRW 80
Owner Earnings 3,454 KRW 4,471 KRW 6,355 KRW 77
All 24 models by family
DCF Models
FCF DCF 2,667 KRW 3,376 KRW 4,688 KRW 81
Owner Earnings 3,454 KRW 4,471 KRW 6,355 KRW 77
5Y Revenue Exit 4,530 KRW 6,751 KRW 9,991 KRW 72
5Y EBITDA Exit 5,241 KRW 7,982 KRW 11,613 KRW 75
5Y P/E Exit 4,346 KRW 6,433 KRW 8,919 KRW 71
10Y Revenue Exit 3,645 KRW 5,236 KRW 6,994 KRW 67
10Y EBITDA Exit 4,215 KRW 5,997 KRW 7,946 KRW 69
10Y P/E Exit 3,672 KRW 5,040 KRW 6,364 KRW 65
Earnings-Based
Graham-Dodd 2,288 KRW 2,797 KRW 3,147 KRW 67
EPV 5,829 KRW 6,657 KRW 7,382 KRW 74
Dividend Discount
Gordon GGM 721.57 KRW 789.79 KRW 893.75 KRW 69
DDM Multi-Stage 721.57 KRW 905.32 KRW 1,163 KRW 67
Multiples
P/E Multiple 5,301 KRW 7,067 KRW 8,834 KRW 63
P/S Multiple 4,291 KRW 5,721 KRW 7,152 KRW 58
P/B Multiple 4,291 KRW 5,721 KRW 7,152 KRW 55
EV/EBIT 8,251 KRW 10,714 KRW 13,177 KRW 66
EV/EBITDA 7,864 KRW 10,198 KRW 12,531 KRW 67
EV/Revenue 6,136 KRW 8,396 KRW 10,656 KRW 54
Asset-Based
NCAV (Graham) 3,833 KRW 5,136 KRW 7,665 KRW 54
Growth DCF
Growth DCF 2,751 KRW 3,439 KRW 4,615 KRW 80
Rev-Margin DCF 4,530 KRW 6,794 KRW 9,514 KRW 73
Economic Profit
Residual Income 5,768 KRW 5,746 KRW 5,287 KRW 76
ROIC Compounder 5,829 KRW 6,657 KRW 7,382 KRW 72
Growth Earnings
Growth-Adj P/E 3,743 KRW 5,347 KRW 6,951 KRW 67

Widest divergence: Multiples (7,067 KRW) versus Dividend Discount (789.79 KRW). Highest evidence: FCF DCF (81).

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Key figures & financial health

P/S ratio 0.16 TTM
Dividend yield 3.7%
Net margin 2.5% FY2025
Return on equity −2.8% TTM
Return on assets (EBIT) 0.0% avg 5y
Operating margin −4.5% TTM
More key figures
Growth
Revenue (TTM) 81.9B KRW TTM
Revenue growth (YoY) −2.4% 3y avg −6.0%
Balance sheet & cash flow
Free cash flow 1.2B KRW FY2025
Net debt 66.1B KRW FY2025 · ≈ 57.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 26

Profitability 27
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 18
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 68
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Hantop Inc. engages in the manufacture and sale of wheat flour and mixed feed in South Korea. The company was formerly known as Young Nam Flour Mills Co., Ltd. and changed its name to Hantop Inc. in March 2015. Hantop Inc. was founded in 1959 and is headquartered in Busan, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hantop Inc reported revenue of 82.4B KRW in FY2025 versus 78.9B KRW in FY2021, a compound +1.1%/yr. Reported net income was 2.1B KRW in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
82.4B KRW
Latest YoY
−2.9%
Avg. revenue growth/yr (3Y) 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.
−6.0%
Avg. revenue growth/yr (5Y) 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.
+1.3%
Avg. revenue growth/yr (14Y) 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.
−1.3%
Revenue +1.1%/yr
FY21 78.9B KRW
FY22 99.1B KRW
FY23 94.8B KRW
FY24 84.9B KRW
FY25 82.4B KRW
Net income
FY21 −9.7B KRW
FY22 −6.7B KRW
FY23 −10.3B KRW
FY24 −5.4B KRW
FY25 2.1B KRW

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Cite: Fair Value Calculator (2026). "Hantop Inc Fair Value". https://www.fairvalue-calculator.com/stock/002680

Peer Group

Farm Products · 300 stocks

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.

Quality Score 44 · Below median
Fair Value upside +108% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) −2% · Bottom 25%
Operating margin (TTM) −4% · Bottom 25%
Revenue growth −2% · Below median
Dividend yield (TTM) 3.7% · Above median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Farm Products median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 26
FUTURE0 · sector 21
PAST0 · sector 19
HEALTH98 · sector 94
DIVIDEND75 · sector 49

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Farm Products stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Archer-Daniels-Midland Company ADM $81.54 $38.02 −53%
Muyuan Foods Group 002714 ¥40.15 ¥47.42 +18%
Bunge Global SA BG $111.57 $56.19 −50%
Tyson Foods, Inc TSN $55.40 $28.60 −48%
Wens Foodstuff Group 300498 ¥13.80 ¥11.18 −19%
Mowi ASA MOWI kr 206.00 kr 260.70 +27%
Fujian Wanchen Food Group 300972 ¥201.06 ¥143.09 −29%
United Plantations Berhad 2089 32.60 MYR 23.34 MYR −28%
Charoen Pokphand Foods Public Company CPF 23.40 THB 43.24 THB +85%
PT Charoen Pokphand Indonesia Tbk, CPIN 2,960 IDR 6,818 IDR +130%

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Frequently asked questions

Is Hantop Inc (002680) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 5,721 KRW versus a price of 2,745 KRW, about +108% upside (undervalued).
What is the fair value of 002680?
Our model-based fair value for Hantop Inc is 5,721 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 2,745 KRW.
What is the quality score of 002680?
Hantop Inc has a Quality Score of 44/100. 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 revenue of Hantop Inc (002680)?
Hantop Inc reported trailing-twelve-month revenue of about 81.9B KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 002680?
The net profit margin of Hantop Inc is about −1.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Hantop Inc pay a dividend?
Hantop Inc currently shows a dividend yield of about 3.73% relative to its recent price (as of Aug 13, 2026).
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