Hanjin Heavy Ind & Const Holdings Co Ltd (003480) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hanjin Heavy Ind & Const Holdings Co Ltd KRW 14,115, price KRW 4,705, upside +200.0%, quality 55 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 2,911 KRW – 6,540 KRW · fair‑value band 9,462 KRW – 19,734 KRW · the 4,705 KRW price screens below the 14,115 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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Hanjin Heavy Industries & Construction Holdings Co., Ltd., through its subsidiaries, engages in the shipbuilding, construction, engineering, energy, and leisure businesses in South Korea. It is involved in city gas supply business, including natural gas; power generation services, such as electricity and heat supplies; as well as operates a golf course.
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Hanjin Heavy Industries & Construction Holdings Co., Ltd., through its subsidiaries, engages in the shipbuilding, construction, engineering, energy, and leisure businesses in South Korea. It is involved in city gas supply business, including natural gas; power generation services, such as electricity and heat supplies; as well as operates a golf course. The company was founded in 1937 and is headquartered in Namyangju-si, South Korea.
Stock analysis
Hanjin Heavy Ind & Const Holdings Co Ltd (003480) currently trades at 4,705 KRW, while our model-based Fair Value estimate is 14,115 KRW, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 34,391 KRW per share, and 23 of the 23 models we run sit above the 4,705 KRW price.
Bear case: the Economic Profit group reads lowest at 9,252 KRW, and 0 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: 9,462 KRW (bear) to 19,734 KRW (bull), the price of 4,705 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 55/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Hanjin Heavy Ind & Const Holdings Co Ltd reported revenue of 1.2T KRW in FY2025 versus 888B KRW in FY2021, a compound +7.9%/yr. Reported net income was 59.1B KRW in FY2025.
Key figures
Market cap 123B KRW (≈ $90.2M) · P/S ratio 0.10 · Dividend yield 2.6% · Net margin 4.9% · Return on equity 14.6% · Return on assets (EBIT) 2.6% · Operating margin 10.3% · Revenue (TTM) 1.2T 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 28% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 200%, 003480 screens cheaper than that median.
Fair Value models
Bear 9,462 KRWFair Value 14,115 KRWBull 19,734 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+3.2%
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.
−5.9%
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.
+8.6%
Start year 2020 (pandemic). Over 10 years: +15.9% 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.
−2.0%
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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.
+79.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+76.6%
Dividend (yield on the price)2.6%
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.6% → 6%
2025 sits 302% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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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.Engineering & Construction · 840 stocks
Beats the industry median on 9/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+200% · Top 25%
Profitability
Return on equity (TTM)15% · Above median
Return on assets3% · Above median
Net margin (TTM)6% · Above median
Operating margin (TTM)10% · Top 25%
Growth and dividend
Revenue growth−2% · Below median
Dividend yield (TTM)2.6% · Above median
Balance sheet
Debt / equity0.94× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Hanjin Heavy Ind & Const Holdings Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/003480
Frequently asked questions
Is Hanjin Heavy Ind & Const Holdings Co Ltd (003480) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 14,115 KRW versus a price of 4,705 KRW, about +200% upside (undervalued).
What is the fair value of 003480?
Our model-based fair value for Hanjin Heavy Ind & Const Holdings Co Ltd is 14,115 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 4,705 KRW.
What is the quality score of 003480?
Hanjin Heavy Ind & Const Holdings Co Ltd has a Quality Score of 55/100. 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 Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
Our model-based price target is the fair value of 14,115 KRW (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 9,462 KRW, optimistic scenario 19,734 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hanjin Heavy Ind & Const Holdings Co Ltd stock forecast for 2026?
Our models put fair value at 14,115 KRW, about +200% upside versus a price of 4,705 KRW (undervalued). Cautious scenario 9,462 KRW, optimistic scenario 19,734 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
Hanjin Heavy Ind & Const Holdings Co Ltd reported trailing-twelve-month revenue of about 1.2T KRW (latest available figure, as of Sep 24, 2026).
Does Hanjin Heavy Ind & Const Holdings Co Ltd pay a dividend?
Hanjin Heavy Ind & Const Holdings Co Ltd currently shows a dividend yield of about 2.55% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hanjin Heavy Ind & Const Holdings Co Ltd it is 14,115 KRW per share (as of Sep 24, 2026), against a price of 4,705 KRW. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Hanjin Heavy Ind & Const Holdings Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 003480 trades below its calculated fair value: price 4,705 KRW, fair value 14,115 KRW, a gap of about +200% (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 003480?
No. The price is what the market pays today (4,705 KRW); the fair value is what the company's own numbers justify (14,115 KRW). For Hanjin Heavy Ind & Const Holdings Co Ltd the two are 9,410 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hanjin Heavy Ind & Const Holdings Co Ltd worth?
The market values Hanjin Heavy Ind & Const Holdings Co Ltd at about 123B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 4,705 KRW; our models calculate a fair value of 14,115 KRW per share.
What do the bullish and bearish scenarios say about 003480?
Our models span a range for Hanjin Heavy Ind & Const Holdings Co Ltd: cautious scenario 9,462 KRW, base 14,115 KRW, optimistic 19,734 KRW per share (as of Sep 24, 2026, price 4,705 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
Balance-sheet figures for Hanjin Heavy Ind & Const Holdings Co Ltd (as of Sep 24, 2026): return on equity 14.6%, debt of 0.94 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 003480 from its 52-week high?
Hanjin Heavy Ind & Const Holdings Co Ltd trades at 4,705 KRW, about 28% below its 52-week high of 6,540 KRW and 8% above the low of 4,355 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 14,115 KRW is for.
Which stocks are comparable to Hanjin Heavy Ind & Const Holdings Co Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro 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 Hanjin Heavy Ind & Const Holdings Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 4,705 KRW, calculated fair value 14,115 KRW (+200%), Quality Score 55/100, from 23 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 003480 calculated?
We run Hanjin Heavy Ind & Const Holdings Co Ltd through 23 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 14,115 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. Hanjin Heavy Ind & Const Holdings Co Ltd currently trades 200 % 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 Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
The closing price on Sep 23, 2026 was 4,705 KRW. Our model-based fair value is 14,115 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hanjin Heavy Ind & Const Holdings Co Ltd right now?
The price is below even our cautious bear case (9,462 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (9,462 KRW to 19,734 KRW) leaves room in how you read the outcome.
Key figures of Hanjin Heavy Ind & Const Holdings Co Ltd
How large is the market capitalisation of Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
The market capitalisation of Hanjin Heavy Ind & Const Holdings Co Ltd is 123B KRW (≈ $90.2M). 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 Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
The price-to-sales ratio of Hanjin Heavy Ind & Const Holdings Co Ltd is 0.10 (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 Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
The dividend yield of Hanjin Heavy Ind & Const Holdings Co Ltd is 2.6%. 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 Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
The net margin of Hanjin Heavy Ind & Const Holdings Co Ltd is 4.9% (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 Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
The return on equity (ROE) of Hanjin Heavy Ind & Const Holdings Co Ltd is 14.6% (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 Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
On an EBIT basis the return on assets of Hanjin Heavy Ind & Const Holdings Co Ltd is 2.6% (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 Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
The operating margin of Hanjin Heavy Ind & Const Holdings Co Ltd is 10.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
Revenue at Hanjin Heavy Ind & Const Holdings Co Ltd is growing −1.9% versus a year earlier (3y avg −5.9%). 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 Hanjin Heavy Ind & Const Holdings Co Ltd (003480)?
Earnings per share at Hanjin Heavy Ind & Const Holdings Co Ltd are growing +26.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hanjin Heavy Ind & Const Holdings Co Ltd (003480) generate?
The free cash flow of Hanjin Heavy Ind & Const Holdings Co Ltd is 88.6B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hanjin Heavy Ind & Const Holdings Co Ltd (003480) carry?
The net debt of Hanjin Heavy Ind & Const Holdings Co Ltd is 482B KRW (fiscal year 2025, ≈ 5.4 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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