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Hannong Chem (011500) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Hannong Chem KRW 6,283, price KRW 13,070, upside -51.9%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Basic Materials · KR · ISIN KR7011500006

HC Some data Sep 24, 2026

Hannong Chem

011500 · KO

Weakest SetupStrongly overvalued and low quality.

!Fair value 6,283 KRW · Strongly overvalued (−52%)
!Quality 48/100
!Weak Growth (revenue 5y +0.6 %/yr)
!Thin margins · 1.9% net margin (TTM)
!Low debt · negative free cash flow
·0.31% dividend yield
!Trails peers (2/10)
!Narrow moat 26/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 10 out of 100
!Weak on dividend: 6 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

26,900 KRW 9,743 KRW Fair Value 6,283 KRW Apr 2021 Sep 2026

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 9,743 KRW – 26,900 KRW · fair‑value band 4,712 KRW – 6,283 KRW · the 13,070 KRW price screens above the 6,283 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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Company profile

Hannong Chemicals Inc. produces and sells chemical raw materials in South Korea.

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Hannong Chemicals Inc. produces and sells chemical raw materials in South Korea. The company offers glycol ethers for use as solvents or industrial intermediates in semiconductors, electronic goods, paints, inks, dyes, detergents, machine oils, brake fluids, and anti-freezing agents; non-ionic surfactants; polyols for use as an intermediate for polyurethane, polyester, epoxy, and polycarbonic acid types of plasticizers; and functional monomers for ultraviolet and electronic beam system coatings. It also provides glyme and propionates for electronic materials; anionic surfactant products for household and industrial detergents, as well as for emulsion polymerization; emulsifiers; and carbomer products for applications in gels, creams, and lotions, as well as personal care ingredients. The company was founded in 1976 and is headquartered in Gunsan-si, South Korea.

Stock analysis

Hannong Chem (011500) currently trades at 13,070 KRW, while our model-based Fair Value estimate is 6,283 KRW, implying the stock looks roughly 108.0% overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 7,472 KRW per share, and 0 of the 12 models we run sit above the 13,070 KRW price.

Bear case: the Growth Earnings group reads lowest at 3,208 KRW, and 12 of the 12 models stay below the price. Evidence for this calculation is medium.

Scenario range: 4,712 KRW (bear) to 6,283 KRW (bull), the price of 13,070 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 48/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Hannong Chem reported revenue of 214B KRW in FY2025 versus 269B KRW in FY2021, a compound −5.5%/yr. Reported net income was 3.9B KRW in FY2025, compounding −33.4%/yr from FY2021.

Key figures

Market cap 200B KRW (≈ $147M) · P/S ratio 0.87 · Dividend yield 0.3% · Net margin 1.8% · Return on equity 2.4% · Return on assets (EBIT) 2.8% · Operating margin 5.6% · Revenue (TTM) 211B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).

What moves the price

The share trades about 51% below its 52-week high and 27% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −27% fair-value upside, at −52%, 011500 screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (585.91 KRW to 8,575 KRW). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 4,712 KRW Fair Value 6,283 KRW Bull 6,283 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.
Highest evidence
Residual Income 7,082 KRW 6,477 KRW 4,467 KRW 76
EPV 427.74 KRW 585.91 KRW 714.28 KRW 74
ROIC Compounder 427.74 KRW 585.91 KRW 714.28 KRW 72
All 12 models by family
Earnings-Based
Graham-Dodd 1,681 KRW 2,055 KRW 2,311 KRW 67
EPV 427.74 KRW 585.91 KRW 714.28 KRW 74
Multiples
P/E Multiple 3,152 KRW 4,203 KRW 5,253 KRW 63
P/S Multiple 3,152 KRW 4,203 KRW 5,253 KRW 58
P/B Multiple 3,152 KRW 4,203 KRW 5,253 KRW 55
EV/EBIT 1,545 KRW 2,357 KRW 3,169 KRW 65
EV/EBITDA 6,208 KRW 8,575 KRW 10,941 KRW 67
EV/Revenue 1,220 KRW 2,125 KRW 3,029 KRW 52
Asset-Based
NCAV (Graham) 5,576 KRW 7,472 KRW 11,152 KRW 54
Economic Profit
Residual Income 7,082 KRW 6,477 KRW 4,467 KRW 76
ROIC Compounder 427.74 KRW 585.91 KRW 714.28 KRW 72
Growth Earnings
Growth-Adj P/E 2,245 KRW 3,208 KRW 4,170 KRW 67

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Quality Score breakdown

Overall quality 48/100

Of which business quality 49 · Market factors (momentum, volatility) 18

Profitability 29
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 16
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 20/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−13.3%
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.
−3.6%
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.
+0.6%
Start year 2020 (pandemic). Over 10 years: +0.7% a year
Revenue growth 12 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.
−0.4%
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. Basis: EBIT basis. 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.
−23.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−23.4%
Dividend (yield on the price)0.3%
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.7% → 2%

011500 screens 108% overvalued. Compare with BASF SE →

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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.Chemicals · 352 stocks

Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside −52% · Below median
Profitability
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 6% · Below median
Growth and dividend
Revenue growth −5% · Below median
Dividend yield (TTM) 0.3% · Bottom 25%
Balance sheet
Debt / equity 0.12× · Below median

Valuation Multiplesvs Chemicals median · lower = cheaper

EV/EBITDA 0.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 23
PAST (return on equity)10 · sector 19
HEALTH (low debt)94 · sector 94
DIVIDEND (yield)6 · sector 32

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

Context: sector, industry, market

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

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
BASF SE BAS €51.79 €23.76 −54%
Saudi Basic Industries Corporation 2010 47.90 SAR 24.66 SAR −49%
Ningxia Baofeng Energy Group 600989 ¥23.21 ¥40.44 +74%
Dow Inc DOW $28.65 $21.03 −27%
Zhejiang Juhua Co 600160 ¥34.61 ¥19.88 −43%
Rongsheng Petrochemical Co 002493 ¥13.13 ¥2.90 −78%
Zangge Mining Company 000408 ¥73.50 ¥80.85 +10%
Hengli Petrochemical Co 600346 ¥16.54 ¥43.28 +162%
LG Chem, Ltd 051910 252,500 KRW 587,755 KRW +133%
Sinoma Science & Technology Co 002080 ¥62.50 ¥21.98 −65%

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Hannong Chem · Fair Value
6,283 KRW −108%Fair Value
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Cite: Fair Value Calculator (2026). "Hannong Chem Fair Value". https://www.fairvalue-calculator.com/stock/011500

Frequently asked questions

Is Hannong Chem (011500) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 6,283 KRW versus a price of 13,070 KRW, about −52% upside (overvalued).
What is the fair value of 011500?
Our model-based fair value for Hannong Chem is 6,283 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 13,070 KRW.
What is the quality score of 011500?
Hannong Chem has a Quality Score of 48/100. 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 Hannong Chem (011500)?
Our model-based price target is the fair value of 6,283 KRW (as of Sep 24, 2026) from 12 valuation models. Cautious scenario 4,712 KRW, optimistic scenario 6,283 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hannong Chem stock forecast for 2026?
Our models put fair value at 6,283 KRW, about −52% upside versus a price of 13,070 KRW (overvalued). Cautious scenario 4,712 KRW, optimistic scenario 6,283 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hannong Chem (011500)?
Hannong Chem reported trailing-twelve-month revenue of about 211B KRW (latest available figure, as of Sep 24, 2026).
Does Hannong Chem pay a dividend?
Hannong Chem currently shows a dividend yield of about 0.31% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Hannong Chem (011500)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hannong Chem it is 6,283 KRW per share (as of Sep 24, 2026), against a price of 13,070 KRW. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Hannong Chem stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 011500 trades above its calculated fair value: price 13,070 KRW, fair value 6,283 KRW, a gap of about −52% (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 011500?
No. The price is what the market pays today (13,070 KRW); the fair value is what the company's own numbers justify (6,283 KRW). For Hannong Chem the two are 6,787 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hannong Chem worth?
The market values Hannong Chem at about 200B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 13,070 KRW; our models calculate a fair value of 6,283 KRW per share.
What do the bullish and bearish scenarios say about 011500?
Our models span a range for Hannong Chem: cautious scenario 4,712 KRW, base 6,283 KRW, optimistic 6,283 KRW per share (as of Sep 24, 2026, price 13,070 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hannong Chem (011500)?
Balance-sheet figures for Hannong Chem (as of Sep 24, 2026): return on equity 2.4%, debt of 0.12 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 011500 from its 52-week high?
Hannong Chem trades at 13,070 KRW, about 51% below its 52-week high of 26,900 KRW and 27% above the low of 10,260 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 6,283 KRW is for.
Which stocks are comparable to Hannong Chem?
From the same area (Basic Materials) we also value BASF SE, Saudi Basic Industries Corporation, Ningxia Baofeng Energy Group, Dow 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 Hannong Chem stock attractive at the current price?
The data as of Sep 24, 2026: price 13,070 KRW, calculated fair value 6,283 KRW (−52%), Quality Score 48/100, from 12 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 011500 calculated?
We run Hannong Chem through 12 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 6,283 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 13.0 % above its aggregate fair value. Hannong Chem 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 Hannong Chem (011500)?
The closing price on Sep 23, 2026 was 13,070 KRW. Our model-based fair value is 6,283 KRW, about −52% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hannong Chem right now?
The price sits above even our optimistic bull case (6,283 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Hannong Chem

How large is the market capitalisation of Hannong Chem (011500)?
The market capitalisation of Hannong Chem is 200B KRW (≈ $147M). 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 Hannong Chem (011500)?
The price-to-sales ratio of Hannong Chem is 0.87 (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 Hannong Chem (011500)?
The dividend yield of Hannong Chem is 0.3%. 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 Hannong Chem (011500)?
The net margin of Hannong Chem is 1.8% (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 Hannong Chem (011500)?
The return on equity (ROE) of Hannong Chem is 2.4% (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 Hannong Chem (011500)?
On an EBIT basis the return on assets of Hannong Chem is 2.8% (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 Hannong Chem (011500)?
The operating margin of Hannong Chem is 5.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hannong Chem (011500)?
Revenue at Hannong Chem is growing −4.9% versus a year earlier (3y avg −3.6%). 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 Hannong Chem (011500)?
Earnings per share at Hannong Chem are growing +5.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hannong Chem (011500) generate?
The free cash flow of Hannong Chem is −5.1B 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 Hannong Chem (011500) carry?
The net debt of Hannong Chem is 22.5B KRW (fiscal year 2025). 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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