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Hanmi Science Co (008930) Fair Value & Analysis

Healthcare · KR · Market cap 2.2T KRW

HS Hanmi Science Co 008930 · KO
Price44,650 KRW
Fair Value29,718 KRW
Upside-33.4%
Quality57/100
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Expensive Growth
Thin margins · 9.9% net margin
Low debt · generates free cash flow
0.92% dividend yield
Ranks above peers (8/10)
Narrow moat 43/100
Evidence: High Range 13,925 KRW – 38,486 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price +32.7% over the past month.

A solid business, but screening 33% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (38,486 KRW). The favourable scenario is already priced in.
  • The model range is unusually wide (13,925 KRW to 38,486 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

85,704 KRW 24,805 KRW Fair Value 29,718 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 24,805 KRW – 85,704 KRW · fair‑value band 13,925 KRW – 38,486 KRW · the 44,650 KRW price screens above the 29,718 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

Full chart & analysis →

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Analysis

Hanmi Science Co (008930) currently trades at 44,650 KRW, while our model-based Fair Value estimate is 29,718 KRW, implying the stock looks roughly 33.4% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Hanmi Science Co generated revenue of 1.4T KRW at a net margin of 9.9%. Revenue grew 6.7% year over year. It earns a return on equity of 14.6%. Net debt stands at 85.9B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 13,925 KRW (bear case) to 38,486 KRW (bull case); at 44,650 KRW, the current price sits above 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. The share trades about 19% below its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 2% fair-value upside, at -33%, 008930 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 8,524 KRW 14,738 KRW 27,836 KRW 80
Residual Income 13,474 KRW 16,534 KRW 38,978 KRW 76
Rev-Margin DCF 9,932 KRW 19,011 KRW 34,244 KRW 74
All 24 models by family
DCF Models
FCF DCF 8,930 KRW 13,249 KRW 27,373 KRW 38
Owner Earnings 28,154 KRW 63,449 KRW 140,856 KRW 31
5Y Revenue Exit 9,932 KRW 16,868 KRW 31,194 KRW 39
5Y EBITDA Exit 11,528 KRW 20,152 KRW 36,801 KRW 41
5Y P/E Exit 25,612 KRW 59,592 KRW 106,184 KRW 38
10Y Revenue Exit 9,407 KRW 19,959 KRW 28,523 KRW 36
10Y EBITDA Exit 10,943 KRW 23,367 KRW 46,885 KRW 37
10Y P/E Exit 21,363 KRW 53,441 KRW 111,716 KRW 35
Earnings-Based
Graham-Dodd 11,887 KRW 82,899 KRW 116,336 KRW 54
Lynch FV 29,111 KRW 41,587 KRW 54,063 KRW 50
PEG = 1.0 29,111 KRW 41,587 KRW 54,063 KRW 46
EPV 9,376 KRW 10,699 KRW 11,876 KRW 59
Multiples
P/E Multiple 28,844 KRW 38,458 KRW 48,073 KRW 63
P/S Multiple 22,288 KRW 29,718 KRW 37,147 KRW 58
P/B Multiple 22,288 KRW 29,718 KRW 37,147 KRW 55
EV/EBIT 12,602 KRW 16,177 KRW 19,753 KRW 53
EV/EBITDA 12,179 KRW 15,614 KRW 19,048 KRW 54
EV/Revenue 9,532 KRW 12,812 KRW 16,093 KRW 43
Asset-Based
NCAV (Graham) 7,102 KRW 9,517 KRW 14,205 KRW 50
Growth DCF
Growth DCF 8,524 KRW 14,738 KRW 27,836 KRW 80
Rev-Margin DCF 9,932 KRW 19,011 KRW 34,244 KRW 74
Economic Profit
Residual Income 13,474 KRW 16,534 KRW 38,978 KRW 76
ROIC Compounder 9,376 KRW 10,699 KRW 11,876 KRW 72
Growth Earnings
Growth-Adj P/E 38,598 KRW 55,141 KRW 71,683 KRW 68

Widest divergence: Growth Earnings (55,141 KRW) versus Asset-Based (9,517 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.4T KRW
Revenue growth (YoY) +6.7%
Net margin 9.9%
Return on equity 14.6%
Free cash flow 26.7B KRW FY2025
Operating margin 8.9%
More key figures
Dividend yield 0.9%
EPS growth (YoY) +70.4%
Net debt 85.9B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 46

Profitability 51
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 79
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.

About the company

Hanmi Science Co., Ltd., through its subsidiaries, manufactures and sells pharmaceutical products in Korea and internationally. It develops drugs in the areas of diabetes and anti-cancer, as well as children's and adult's bowel preparation and cold medicines, and cephalosporin antibiotics.

Full company description

Hanmi Science Co., Ltd., through its subsidiaries, manufactures and sells pharmaceutical products in Korea and internationally. It develops drugs in the areas of diabetes and anti-cancer, as well as children's and adult's bowel preparation and cold medicines, and cephalosporin antibiotics. The company also offers general foods, health functional foods, soy milk, and medical equipment. In addition, it offers automated drug management systems. The company sells its products through online and offline pharmacies. The company was formerly known as Hanmi Holdings Co., Ltd. and changed its name to Hanmi Science Co., Ltd. in March 2012. Hanmi Science Co., Ltd. was founded in 1973 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hanmi Science Co reported revenue of 1.4T KRW in FY2025 versus 950B KRW in FY2021, a compound +9.3%/yr. Reported net income was 118B KRW in FY2025, compounding +28.9%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.4T KRW
Latest YoY
+5.7%
Avg. growth/yr (3Y)
+9.1%
Avg. growth/yr (5Y)
+9.6%
Avg. growth/yr (25Y)
+9.2%
Revenue +9.3%/yr
FY21 950B KRW
FY22 1.0T KRW
FY23 1.2T KRW
FY24 1.3T KRW
FY25 1.4T KRW
Net income +28.9%/yr
FY21 42.9B KRW
FY22 69.2B KRW
FY23 115B KRW
FY24 59.4B KRW
FY25 118B KRW

008930 screens 33% overvalued. Compare with McKesson Corporation →

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Cite: Fair Value Calculator (2026). "Hanmi Science Co Fair Value". https://www.fairvalue-calculator.com/stock/008930

Peer Group

Medical Distribution · 81 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 57 · Above median
Fair Value upside −33% · Below median
Return on equity (TTM) 15% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 9% · Top 25%
Revenue growth 7% · Top 25%
Dividend yield (TTM) 0.9% · Below median

Valuation Multiples vs Medical Distribution median · lower = cheaper

P/FCF 0.1× · Cheaper than 75% of peers

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.

VALUE 0 · sector 32
FUTURE 34 · sector 14
PAST 58 · sector 21
HEALTH 100 · sector 97
DIVIDEND 18 · sector 53

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
McKesson Corporation MCK $805.96 $819.31 +2%
Cencora, Inc COR $303.44 $175.74 -42%
Cardinal Health, Inc CAH $224.94 $141.77 -37%
Henry Schein, Inc HSIC $87.82 $74.67 -15%
Shanghai Pharmaceuticals Holding 601607 ¥16.70 ¥33.96 +103%
Sinopharm Group 1099 HK$16.74 HK$61.33 +266%
Galenica AG GALE CHF 87.05 CHF 61.79 -29%
Guangzhou Baiyunshan Pharmaceutical Holdings 600332 ¥21.50 ¥28.65 +33%
Jointown Pharmaceutical Group 600998 ¥4.99 ¥9.84 +97%
Asker Healthcare Group ASKER kr 79.45 kr 25.69 -68%

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Frequently asked questions

Is Hanmi Science Co (008930) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 29,718 KRW versus a price of 44,650 KRW, about −33% (overvalued).
What is the fair value of 008930?
Our model-based fair value for Hanmi Science Co is 29,718 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 44,650 KRW.
What is the quality score of 008930?
Hanmi Science Co has a Quality Score of 57/100. 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 Hanmi Science Co (008930)?
Hanmi Science Co reported trailing-twelve-month revenue of about 1.4T KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 008930?
The net profit margin of Hanmi Science Co is about 9.9%, meaning it keeps roughly 9.9% of revenue as net income. Based on the latest reported figures.
Does Hanmi Science Co pay a dividend?
Hanmi Science Co currently shows a dividend yield of about 1.01% relative to its recent price (as of Jul 22, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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