Hanmi Science (008930) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hanmi Science KRW 19,563, price KRW 52,100, upside -62.5%, quality 57 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 24,805 KRW – 85,704 KRW · fair‑value band 12,768 KRW – 35,142 KRW · the 52,100 KRW price screens above the 19,563 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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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.
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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.
Stock analysis
Hanmi Science (008930) currently trades at 52,100 KRW, while our model-based Fair Value estimate is 19,563 KRW, implying the stock looks roughly 166.3% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 55,141 KRW per share, and 3 of the 24 models we run sit above the 52,100 KRW price.
Bear case: the Economic Profit group reads lowest at 8,694 KRW, and 21 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 12,768 KRW (bear) to 35,142 KRW (bull), the price of 52,100 KRW sits above 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 57/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Hanmi Science 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.
Key figures
Market cap 3.5T KRW (≈ $2.5B) · P/S ratio 1.62 · Dividend yield 0.6% · Net margin 8.7% · Return on equity 14.6% · Return on assets (EBIT) 3.4% · Operating margin 8.9% · Revenue (TTM) 1.4T 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 10% below its 52-week high and 100% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 35% fair-value upside, at −62%, 008930 screens richer than that median.
Fair Value models
Bear 12,768 KRWFair Value 19,563 KRWBull 35,142 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.7%
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.
+9.1%
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.
+9.6%
Start year 2020 (pandemic). Over 10 years: +5.7% 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.
+9.2%
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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.
+38.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+38.0%
Dividend (yield on the price)0.6%
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.3% → 4%
2025 sits 68% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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).
+49.2%
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 +46.2% 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.Medical Distribution · 83 stocks
Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−63% · Bottom 25%
Profitability
Return on equity (TTM)15% · Top 25%
Return on assets3% · Above median
Net margin (TTM)10% · Top 25%
Operating margin (TTM)9% · Top 25%
Growth and dividend
Revenue growth7% · Top 25%
Dividend yield (TTM)0.6% · Bottom 25%
Valuation Multiplesvs Medical Distribution median · lower = cheaper
P/FCF0.1× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)34· sector 17
PAST (return on equity)58· sector 27
HEALTH (low debt)100· sector 96
DIVIDEND (yield)12· sector 59
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Hanmi Science Fair Value". https://www.fairvalue-calculator.com/stock/008930
Frequently asked questions
Is Hanmi Science (008930) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 19,563 KRW versus a price of 52,100 KRW, about −62% upside (overvalued).
What is the fair value of 008930?
Our model-based fair value for Hanmi Science is 19,563 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 52,100 KRW.
What is the quality score of 008930?
Hanmi Science 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 price target for Hanmi Science (008930)?
Our model-based price target is the fair value of 19,563 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 12,768 KRW, optimistic scenario 35,142 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hanmi Science stock forecast for 2026?
Our models put fair value at 19,563 KRW, about −62% upside versus a price of 52,100 KRW (overvalued). Cautious scenario 12,768 KRW, optimistic scenario 35,142 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hanmi Science (008930)?
Hanmi Science reported trailing-twelve-month revenue of about 1.4T KRW (latest available figure, as of Sep 24, 2026).
Does Hanmi Science pay a dividend?
Hanmi Science currently shows a dividend yield of about 0.58% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Hanmi Science (008930)?
For today's price to be fair in a discounted-cash-flow model, Hanmi Science would have to grow free cash flow by +49.2 % 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 +9.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 008930 use?
Our models discount Hanmi Science at 10.2 %: a base by market capitalisation (small), damped by beta 0.51, 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 Hanmi Science that is +49.2 % 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 Hanmi Science (008930) delivered so far?
Over the past 5 years revenue at Hanmi Science grew +9.6 % a year. The price currently implies +49.2 % 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 Hanmi Science (008930) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into Hanmi Science (+49.2 % 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 Hanmi Science (008930)?
The free-cash-flow yield on the price is 0.76 %: that much free cash flow Hanmi Science 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 Hanmi Science (008930)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hanmi Science it is 19,563 KRW per share (as of Sep 24, 2026), against a price of 52,100 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Hanmi Science stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 008930 trades above its calculated fair value: price 52,100 KRW, fair value 19,563 KRW, a gap of about −62% (overvalued). 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 008930?
No. The price is what the market pays today (52,100 KRW); the fair value is what the company's own numbers justify (19,563 KRW). For Hanmi Science the two are 32,537 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hanmi Science worth?
The market values Hanmi Science at about 3.5T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 52,100 KRW; our models calculate a fair value of 19,563 KRW per share.
What do the bullish and bearish scenarios say about 008930?
Our models span a range for Hanmi Science: cautious scenario 12,768 KRW, base 19,563 KRW, optimistic 35,142 KRW per share (as of Sep 24, 2026, price 52,100 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hanmi Science (008930)?
Balance-sheet figures for Hanmi Science (as of Sep 24, 2026): return on equity 14.6%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 008930 from its 52-week high?
Hanmi Science trades at 52,100 KRW, about 10% below its 52-week high of 57,700 KRW and 100% above the low of 26,100 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 19,563 KRW is for.
Which stocks are comparable to Hanmi Science?
From the same area (Healthcare) we also value McKesson Corporation, Cencora, Inc, Cardinal Health, Inc, Henry Schein, Inc, 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 Hanmi Science stock attractive at the current price?
The data as of Sep 24, 2026: price 52,100 KRW, calculated fair value 19,563 KRW (−62%), Quality Score 57/100, 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 008930 calculated?
We run Hanmi Science 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 19,563 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 14.1 % above its aggregate fair value. Hanmi Science itself currently trades above fair value. 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 Hanmi Science (008930)?
The closing price on Sep 23, 2026 was 52,100 KRW. Our model-based fair value is 19,563 KRW, about −62% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hanmi Science right now?
The price sits above even our optimistic bull case (35,142 KRW). The favourable scenario is already priced in. The model range is unusually wide (12,768 KRW to 35,142 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.
Key figures of Hanmi Science
How large is the market capitalisation of Hanmi Science (008930)?
The market capitalisation of Hanmi Science is 3.5T KRW (≈ $2.5B). 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 Hanmi Science (008930)?
The price-to-sales ratio of Hanmi Science is 1.62 (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 Hanmi Science (008930)?
The dividend yield of Hanmi Science is 0.6%. 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 Hanmi Science (008930)?
The net margin of Hanmi Science is 8.7% (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 Hanmi Science (008930)?
The return on equity (ROE) of Hanmi Science 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 Hanmi Science (008930)?
On an EBIT basis the return on assets of Hanmi Science is 3.4% (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 Hanmi Science (008930)?
The operating margin of Hanmi Science is 8.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hanmi Science (008930)?
Revenue at Hanmi Science is growing +6.7% versus a year earlier (3y avg +9.1%). 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 Hanmi Science (008930)?
Earnings per share at Hanmi Science are growing +70.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hanmi Science (008930) carry?
The net debt of Hanmi Science is 85.9B KRW (fiscal year 2025, ≈ 3.2 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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