Hanil Cement Co Ltd (003300) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of Hanil Cement Co Ltd stock KRW 25,774, price KRW 16,810, upside +53.3%, quality 42 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 7,885 KRW – 20,000 KRW · fair‑value band 14,168 KRW – 32,218 KRW · the 16,810 KRW price screens below the 25,774 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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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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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 16,810 KRW, while our model-based Fair Value estimate is 25,774 KRW, implying the stock looks roughly 35% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 23,661 KRW per share, and 11 of the 26 models we run sit above the 16,810 KRW price.
Bear case: the Earnings-Based group reads lowest at 9,137 KRW, and 15 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 14,168 KRW (bear) to 32,218 KRW (bull), the price of 16,810 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 42/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Spin-off in 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.
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 518B KRW (≈ $387M) Small · P/E ratio 9.5 · P/S ratio 0.28 · EPS (TTM) 1,771 KRW · Dividend yield 5.9% · Net margin 2.9% · Return on equity 3.8% · Return on assets (EBIT) 5.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −23% fair-value upside, at 53%, 003300 screens cheaper than that median.
Fair Value models
Bear14,168 KRWFair Value 25,774 KRWBull32,218 KRW
Price 16,810 KRW · Upside +53.3%
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 (663.12 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.
Best data coverage
FCF DCF7,361 KRW12,056 KRW18,540 KRW78
Growth DCF7,479 KRW11,607 KRW16,970 KRW77
Residual Income34,644 KRW35,364 KRW37,145 KRW76
All 26 models by family
DCF Models
FCF DCF7,361 KRW12,056 KRW18,540 KRW78
Owner Earnings3,831 KRW6,871 KRW11,070 KRW74
5Y Revenue Exit12,038 KRW21,765 KRW34,206 KRW70
5Y EBITDA Exit16,548 KRW30,133 KRW45,965 KRW73
5Y P/E Exit8,308 KRW14,844 KRW21,621 KRW69
10Y Revenue Exit9,568 KRW17,675 KRW28,560 KRW64
10Y EBITDA Exit12,790 KRW23,157 KRW37,000 KRW66
10Y P/E Exit7,824 KRW13,141 KRW19,526 KRW62
Earnings-Based
Graham-Dodd6,963 KRW20,864 KRW27,642 KRW65
Lynch FV4,422 KRW6,318 KRW8,213 KRW61
PEG = 1.04,422 KRW6,318 KRW8,213 KRW57
EPV10,082 KRW11,957 KRW13,548 KRW73
Dividend Discount
Gordon GGM7,919 KRW15,005 KRW21,615 KRW67
DDM Multi-Stage7,919 KRW12,390 KRW15,938 KRW67
Multiples
P/E Multiple13,055 KRW17,406 KRW21,758 KRW63
P/S Multiple13,055 KRW17,406 KRW21,758 KRW57
P/B Multiple10,214 KRW13,618 KRW17,023 KRW55
EV/EBIT9,867 KRW17,003 KRW24,139 KRW63
EV/EBITDA16,589 KRW25,965 KRW35,341 KRW65
EV/Revenue7,013 KRW14,964 KRW22,915 KRW50
Asset-Based
NCAV (Graham)7,323 KRW11,096 KRW13,870 KRW54
Growth DCF
Growth DCF7,479 KRW11,607 KRW16,970 KRW77
Rev-Margin DCF12,038 KRW21,676 KRW32,579 KRW70
Economic Profit
Residual Income34,644 KRW35,364 KRW37,145 KRW76
ROIC Compounder10,082 KRW11,957 KRW13,548 KRW71
Growth Earnings
Growth-Adj P/E10,908 KRW15,583 KRW20,258 KRW67
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.55/100
Spin-off in 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.
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)
Revenue growth 7 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.
+7.2%
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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.
−0.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.8%
Dividend (yield on the price)5.9%
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.−6.8% vs −27.6%, 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.10% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 4.5%/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
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).
+20.4%
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 +18.0% 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 · 266 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside+52.2% · Top 25%
Profitability
Return on equity (12 months)3.8% · Below median
Return on assets1.7% · Below median
Net margin (12 months)5.7% · Above median
Operating margin (12 months)13.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)−7.5% · Below median
Dividend yield (12 months)5.9% · Top 25%
Balance sheet
Debt / equity0.20× · Above median
Valuation Multiplesvs Building Materials median · lower = cheaper
P/E (12 months)9.5× · Cheapest 25%
P/B0.31× · Cheapest 25%
P/S (12 months)0.55× · Cheapest 25%
Price / free cash flow (fiscal year)28.1× · Pricier than median
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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 Nov 8, 2026, our model estimates a fair value of 25,774 KRW versus a price of 16,810 KRW, about +53% upside (undervalued).
What is the fair value of 003300?
Our model-based fair value for Hanil Cement Co Ltd is 25,774 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 16,810 KRW.
What is the quality score of 003300?
Hanil Cement Co Ltd has a Quality Score of 42/100. 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 25,774 KRW (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 14,168 KRW, optimistic scenario 32,218 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 25,774 KRW, about +53% upside versus a price of 16,810 KRW (undervalued). Cautious scenario 14,168 KRW, optimistic scenario 32,218 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 Nov 8, 2026).
Does Hanil Cement Co Ltd pay a dividend?
Hanil Cement Co Ltd currently shows a dividend yield of 5.95% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Hanil Cement Co Ltd (003300) and when is the ex-dividend date?
Hanil Cement Co Ltd pays a dividend of 1,000 KRW per share a year, a dividend yield of 5.9%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since at least 1996. The payout ratio is 56.5% of earnings. Free cash flow covers the dividend 1.18 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 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 +20.4 % 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 Nov 8, 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 0.30, 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 +20.4 % 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 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 free-cash-flow growth of +20.4 % 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 Hanil Cement Co Ltd (003300) growing?
The median revenue growth in the sector is +8.7 % a year. That is the yardstick for the growth priced into Hanil Cement Co Ltd (+20.4 % per 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 7.03 %: 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 25,774 KRW per share (as of Nov 8, 2026), against a price of 16,810 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 Hanil Cement Co Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 003300 trades below its calculated fair value: price 16,810 KRW, fair value 25,774 KRW, a gap of about +53% (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 (16,810 KRW); the fair value is what the company's own numbers justify (25,774 KRW). For Hanil Cement Co Ltd the two are 8,964 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 518B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 16,810 KRW; our models calculate a fair value of 25,774 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 14,168 KRW, base 25,774 KRW, optimistic 32,218 KRW per share (as of Nov 8, 2026, price 16,810 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 003300?
Hanil Cement Co Ltd trades at a price-to-earnings ratio of 9.5 (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 25,774 KRW is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings: 4.9. Other multiples: P/B 0.3, P/S 0.5, EV/EBITDA 5.4.
How solid is the balance sheet of Hanil Cement Co Ltd (003300)?
Balance-sheet figures for Hanil Cement Co Ltd (as of Nov 8, 2026): return on equity 3.8%, debt of 0.20 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 003300 from its 52-week high?
Hanil Cement Co Ltd trades at 16,810 KRW, about 16% below its 52-week high of 20,000 KRW and 10% above the low of 15,277 KRW (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 25,774 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, Martin Marietta Materials, Inc, Vulcan Materials Company, 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 Nov 8, 2026: price 16,810 KRW, calculated fair value 25,774 KRW (+53%), Quality Score 42/100, 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 003300 calculated?
We run Hanil Cement 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 25,774 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 13.7% above its aggregate fair value. Hanil Cement Co Ltd currently trades 35% 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 Nov 10, 2026 was 16,810 KRW. Our model-based fair value is 25,774 KRW, about +53% 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 (42/100). That raises the risk this is a value trap rather than a bargain. A fairly wide model range (14,168 KRW to 32,218 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 518B KRW (≈ $387M). 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 are the earnings per share of Hanil Cement Co Ltd (003300)?
Earnings per share at Hanil Cement Co Ltd are 1,771 KRW (price ÷ EPS = P/E 9.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hanil Cement Co Ltd (003300)?
The dividend yield of Hanil Cement Co Ltd is 5.9% (payout 56.5%). 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 2.9% (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 Hanil Cement Co Ltd (003300)?
The return on equity (ROE) of Hanil Cement Co Ltd is 3.8% (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 13.0% (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 −7.5% 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 +144% 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.
Why does Hanil Cement Co Ltd not meet the fair value rule although the fair value shown is higher?
Trough year lifted: 17,406 KRW → 25,774 KRW. The latest year was a trough or loss year. So we calculate with a normal year: 25,774 KRW instead of 17,406 KRW. As in the backtest, the fair value rule checks the value before: +4% against the price.
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Some data
Nov 8, 2026