Hanil Cement Co Ltd (003300) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hanil Cement Co Ltd KRW 28,016, price KRW 17,510, upside +60.0%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 7,885 KRW – 20,000 KRW · fair‑value band 18,594 KRW – 34,810 KRW · the 17,510 KRW price screens below the 28,016 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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Hanil Holdings Co., Ltd., together with its subsidiaries, manufactures and sells construction materials in South Korea. It offers pavement, bulk, and slag cement; ready-mixed-concrete; and dry mortar.
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Hanil Holdings Co., Ltd., together with its subsidiaries, manufactures and sells construction materials in South Korea. It offers pavement, bulk, and slag cement; ready-mixed-concrete; and dry mortar. The company also operates theme parks and skyranch farms; and trades various resources products, such as coal, oil, and natural gas, as well as machinery and components. In addition, it is involved in the logistics business, including freight transport and loading services; and corporate venture capital, consignment, livestock, insurance agency, finance, real estate rental, video production, liquor wholesale, and beer production business. The company was founded in 1961 and is headquartered in Seoul, South Korea.
Stock analysis
Hanil Cement Co Ltd (003300) currently trades at 17,510 KRW, while our model-based Fair Value estimate is 28,016 KRW, implying the stock looks roughly 37.5% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 36,497 KRW per share, and 17 of the 24 models we run sit above the 17,510 KRW price.
Bear case: the Growth Earnings group reads lowest at 14,895 KRW, and 7 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 18,594 KRW (bear) to 34,810 KRW (bull), the price of 17,510 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 43/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hanil Cement Co Ltd reported revenue of 1.9T KRW in FY2025 versus 1.8T KRW in FY2021, a compound +2.2%/yr. Reported net income was 31.6B KRW in FY2025, compounding −8.5%/yr from FY2021.
Key figures
Market cap 540B KRW (≈ $397M) · P/S ratio 0.28 · Dividend yield 5.7% · Net margin 1.6% · Return on equity 2.5% · Return on assets (EBIT) 5.3% · Operating margin 3.1% · Revenue (TTM) 1.9T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at 60%, 003300 screens cheaper than that median.
Fair Value models
Bear 18,594 KRWFair Value 28,016 KRWBull 34,810 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−14.2%
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.
−0.6%
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.
+4.7%
Start year 2020 (pandemic). Over 10 years: +3.4% a year
Revenue growth 25 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.
+4.8%
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What shareholders gained per year (last 5 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 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. 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.
−1.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.8%
Dividend (yield on the price)5.7%
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.10% → 6%
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+20.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +18.3% a year for the price.
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.Building Materials · 258 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score43 · Below median
Fair Value upside+60% · Top 25%
Profitability
Return on equity (TTM)3% · Below median
Return on assets2% · Below median
Net margin (TTM)2% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth−4% · Below median
Dividend yield (TTM)5.7% · Top 25%
Balance sheet
Debt / equity0.20× · Above median
Valuation Multiplesvs Building Materials median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Hanil Cement Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/003300
Frequently asked questions
Is Hanil Cement Co Ltd (003300) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 28,016 KRW versus a price of 17,510 KRW, about +60% upside (undervalued).
What is the fair value of 003300?
Our model-based fair value for Hanil Cement Co Ltd is 28,016 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 17,510 KRW.
What is the quality score of 003300?
Hanil Cement Co Ltd has a Quality Score of 43/100. 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 Hanil Cement Co Ltd (003300)?
Our model-based price target is the fair value of 28,016 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 18,594 KRW, optimistic scenario 34,810 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hanil Cement Co Ltd stock forecast for 2026?
Our models put fair value at 28,016 KRW, about +60% upside versus a price of 17,510 KRW (undervalued). Cautious scenario 18,594 KRW, optimistic scenario 34,810 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hanil Cement Co Ltd (003300)?
Hanil Cement Co Ltd reported trailing-twelve-month revenue of about 1.9T KRW (latest available figure, as of Sep 24, 2026).
Does Hanil Cement Co Ltd pay a dividend?
Hanil Cement Co Ltd currently shows a dividend yield of about 5.71% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Hanil Cement Co Ltd (003300)?
For today's price to be fair in a discounted-cash-flow model, Hanil Cement Co Ltd would have to grow free cash flow by +20.8 % 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 +4.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 003300 use?
Our models discount Hanil Cement Co Ltd at 10.2 %: a base by market capitalisation (small), damped by beta 0.32, 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 Hanil Cement Co Ltd that is +20.8 % per year a year over ten years, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Hanil Cement Co Ltd (003300) delivered so far?
Over the past 5 years revenue at Hanil Cement Co Ltd grew +4.7 % a year. The price currently implies +20.8 % per year free-cash-flow growth a 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 Hanil Cement Co Ltd (003300) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Hanil Cement Co Ltd (+20.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hanil Cement Co Ltd (003300)?
The free-cash-flow yield on the price is 6.75 %: that much free cash flow Hanil Cement Co Ltd 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 Hanil Cement Co Ltd (003300)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hanil Cement Co Ltd it is 28,016 KRW per share (as of Sep 24, 2026), against a price of 17,510 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Hanil Cement Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 003300 trades below its calculated fair value: price 17,510 KRW, fair value 28,016 KRW, a gap of about +60% (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 003300?
No. The price is what the market pays today (17,510 KRW); the fair value is what the company's own numbers justify (28,016 KRW). For Hanil Cement Co Ltd the two are 10,506 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hanil Cement Co Ltd worth?
The market values Hanil Cement Co Ltd at about 540B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 17,510 KRW; our models calculate a fair value of 28,016 KRW per share.
What do the bullish and bearish scenarios say about 003300?
Our models span a range for Hanil Cement Co Ltd: cautious scenario 18,594 KRW, base 28,016 KRW, optimistic 34,810 KRW per share (as of Sep 24, 2026, price 17,510 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hanil Cement Co Ltd (003300)?
Balance-sheet figures for Hanil Cement Co Ltd (as of Sep 24, 2026): return on equity 2.5%, debt of 0.20 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 003300 from its 52-week high?
Hanil Cement Co Ltd trades at 17,510 KRW, about 12% below its 52-week high of 20,000 KRW and 17% above the low of 14,975 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 28,016 KRW is for.
Which stocks are comparable to Hanil Cement Co Ltd?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, 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 Hanil Cement Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 17,510 KRW, calculated fair value 28,016 KRW (+60%), Quality Score 43/100, from 24 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 003300 calculated?
We run Hanil Cement Co Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 28,016 KRW, 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 14.0 % above its aggregate fair value. Hanil Cement Co Ltd currently trades 60 % 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 Hanil Cement Co Ltd (003300)?
The closing price on Sep 23, 2026 was 17,510 KRW. Our model-based fair value is 28,016 KRW, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hanil Cement Co Ltd right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (18,594 KRW). The market is more pessimistic than our downside scenario. A fairly wide model range (18,594 KRW to 34,810 KRW) leaves room in how you read the outcome.
Key figures of Hanil Cement Co Ltd
How large is the market capitalisation of Hanil Cement Co Ltd (003300)?
The market capitalisation of Hanil Cement Co Ltd is 540B KRW (≈ $397M). 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 Hanil Cement Co Ltd (003300)?
The price-to-sales ratio of Hanil Cement Co Ltd is 0.28 (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 Hanil Cement Co Ltd (003300)?
The dividend yield of Hanil Cement Co Ltd is 5.7%. 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 Hanil Cement Co Ltd (003300)?
The net margin of Hanil Cement Co Ltd is 1.6% (fiscal year 2025). 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 Hanil Cement Co Ltd (003300)?
The return on equity (ROE) of Hanil Cement Co Ltd is 2.5% (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 Hanil Cement Co Ltd (003300)?
On an EBIT basis the return on assets of Hanil Cement Co Ltd is 5.3% (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 Hanil Cement Co Ltd (003300)?
The operating margin of Hanil Cement Co Ltd is 3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hanil Cement Co Ltd (003300)?
Revenue at Hanil Cement Co Ltd is growing −3.6% versus a year earlier (3y avg −0.6%). 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 Hanil Cement Co Ltd (003300)?
Earnings per share at Hanil Cement Co Ltd are growing +150% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hanil Cement Co Ltd (003300) carry?
The net debt of Hanil Cement Co Ltd is 698B KRW (fiscal year 2025, ≈ 19.1 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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