Hannong Chem (011500) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Hannong Chem stock KRW 4,796, price KRW 10,860, that is 55.8% below the price, quality 51 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 of our 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 9,743 KRW – 26,900 KRW · fair‑value band 3,357 KRW – 6,234 KRW · the 10,860 KRW price screens above the 4,796 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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Hannong Chemicals Inc. produces and sells chemical raw materials in South Korea.
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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 10,860 KRW, while our model-based Fair Value estimate is 4,796 KRW, 56% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 4,203 KRW per share, and 1 of the 14 models we run sit above the 10,860 KRW price.
Bear case: the Earnings-Based group reads lowest at 1,181 KRW, and 13 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 3,357 KRW (bear) to 6,234 KRW (bull), the price of 10,860 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 51/100 (solid 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 170B KRW (≈ $126M) Micro · P/E ratio 20.9 · P/S ratio 0.75 · EPS (TTM) 613.58 KRW · Dividend yield 0.4% · Net margin 4.2% · Return on equity 5.5% · Return on assets (EBIT) 2.8% (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 60% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −24% fair-value upside, at −56%, 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 (307.40 KRW to 11,375 KRW). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear3,357 KRWFair Value 4,796 KRWBull6,234 KRW
Price 10,860 KRW · Downside -55.8%
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 (491.86 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
Residual Income5,904 KRW6,230 KRW6,658 KRW76
EPV201.13 KRW307.40 KRW390.53 KRW73
ROIC Compounder201.13 KRW307.40 KRW390.53 KRW71
All 14 models by family
Earnings-Based
Graham-Dodd1,681 KRW2,055 KRW2,311 KRW67
EPV201.13 KRW307.40 KRW390.53 KRW73
Dividend Discount
Gordon GGM340.51 KRW359.47 KRW387.14 KRW69
DDM Multi-Stage340.51 KRW379.35 KRW426.59 KRW67
Multiples
P/E Multiple3,152 KRW4,203 KRW5,253 KRW63
P/S Multiple3,152 KRW4,203 KRW5,253 KRW58
P/B Multiple8,531 KRW11,375 KRW14,219 KRW55
EV/EBIT998.44 KRW1,810 KRW2,622 KRW63
EV/EBITDA5,662 KRW8,028 KRW10,394 KRW67
EV/Revenue673.72 KRW1,578 KRW2,483 KRW50
Asset-Based
NCAV (Graham)1,417 KRW2,146 KRW2,683 KRW54
Economic Profit
Residual Income5,904 KRW6,230 KRW6,658 KRW76
ROIC Compounder201.13 KRW307.40 KRW390.53 KRW71
Growth Earnings
Growth-Adj P/E2,245 KRW3,208 KRW4,170 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.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%
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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. 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.
−23.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−23.4%
Dividend (yield on the price)0.4%
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.−21.5% vs −7.9%, slowing
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%
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.Chemicals · 337 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−56.5% · Bottom 25%
Profitability
Return on equity (12 months)5.5% · Below median
Return on assets1.6% · Below median
Net margin (12 months)4.2% · Below median
Operating margin (12 months)10.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)36.6% · Top 25%
Dividend yield (12 months)0.4% · Bottom 25%
Balance sheet
Debt / equity0.12× · Below median
Valuation Multiplesvs Chemicals median · lower = cheaper
P/E (12 months)20.9× · Pricier than median
P/B0.99× · Cheaper than median
P/S (12 months)0.75× · Cheaper than median
EV/EBITDA8.0× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 9
FUTURE (revenue growth)100· sector 67
PAST (return on equity)22· sector 24
HEALTH (low debt)94· sector 94
DIVIDEND (yield)7· sector 32
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). "Hannong Chem Fair Value". https://www.fairvalue-calculator.com/stock/011500
Frequently asked questions
Is Hannong Chem (011500) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 4,796 KRW versus a price of 10,860 KRW, about 56% lower (overvalued).
What is the fair value of 011500?
Our model-based fair value for Hannong Chem is 4,796 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 10,860 KRW.
What is the quality score of 011500?
Hannong Chem has a Quality Score of 51/100. 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 4,796 KRW (as of Nov 8, 2026) from 14 valuation models. Cautious scenario 3,357 KRW, optimistic scenario 6,234 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 4,796 KRW, about 56% lower versus a price of 10,860 KRW (overvalued). Cautious scenario 3,357 KRW, optimistic scenario 6,234 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 231B KRW (latest available figure, as of Nov 8, 2026).
Does Hannong Chem pay a dividend?
Hannong Chem currently shows a dividend yield of 0.37% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Hannong Chem (011500) and when is the ex-dividend date?
Hannong Chem pays a dividend of 40.00 KRW per share a year, a dividend yield of 0.4%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since at least 2003. The payout ratio is 6.5% of earnings. Our assessment: Token dividend. At a yield of 0.4% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.4% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
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 4,796 KRW per share (as of Nov 8, 2026), against a price of 10,860 KRW. It is the blended result of 14 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Hannong Chem stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 011500 trades above its calculated fair value: price 10,860 KRW, fair value 4,796 KRW, a gap of about −56% (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 (10,860 KRW); the fair value is what the company's own numbers justify (4,796 KRW). For Hannong Chem the two are 6,064 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 170B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 10,860 KRW; our models calculate a fair value of 4,796 KRW per share.
What do the bullish and bearish scenarios say about 011500?
Our models span a range for Hannong Chem: cautious scenario 3,357 KRW, base 4,796 KRW, optimistic 6,234 KRW per share (as of Nov 8, 2026, price 10,860 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 011500?
Hannong Chem trades at a price-to-earnings ratio of 20.9 (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 4,796 KRW is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 11.9. Other multiples: P/B 1.0, P/S 0.7, EV/EBITDA 8.0.
How solid is the balance sheet of Hannong Chem (011500)?
Balance-sheet figures for Hannong Chem (as of Nov 8, 2026): return on equity 5.5%, debt of 0.12 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 011500 from its 52-week high?
Hannong Chem trades at 10,860 KRW, about 60% below its 52-week high of 26,900 KRW and 8% above the low of 10,080 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 4,796 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, Dow Inc, Ningxia Baofeng Energy Group, 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 Nov 8, 2026: price 10,860 KRW, calculated fair value 4,796 KRW (−56%), Quality Score 51/100, from 14 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 14 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 4,796 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 13.3% 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 Nov 9, 2026 was 10,860 KRW. Our model-based fair value is 4,796 KRW, about 56% lower (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 (6,234 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (3,357 KRW to 6,234 KRW) leaves room in how you read the outcome.
Key figures of Hannong Chem
How large is the market capitalisation of Hannong Chem (011500)?
The market capitalisation of Hannong Chem is 170B KRW (≈ $126M). 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 0.75 (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 Hannong Chem (011500)?
Earnings per share at Hannong Chem are 613.58 KRW (price ÷ EPS = P/E 20.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hannong Chem (011500)?
The dividend yield of Hannong Chem is 0.4% (payout 6.5%). 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 Hannong Chem (011500)?
The net margin of Hannong Chem is 4.2% (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 Hannong Chem (011500)?
The return on equity (ROE) of Hannong Chem is 5.5% (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 10.8% (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 +36.6% 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 +12.7% 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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Nov 8, 2026