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Hanatour Service Inc (039130) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 454B KRW

HS Hanatour Service Inc 039130 · KO
Price31,750 KRW
Fair Value46,641 KRW
Upside+46.9%
Quality66/100
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Mixed Growth
Thin margins · 7.2% net margin
Low debt · generates free cash flow
4.07% dividend yield
Ranks above peers (9/10)
Moderate moat 59/100
Evidence: High Range 34,981 KRW – 78,662 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 45,301 KRW to 46,641 KRW (+3.0%) since Jul 6, 2026. Share price −1.2% over the past month.

A solid business, screening 47% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (34,981 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (34,981 KRW to 78,662 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

77,009 KRW 29,500 KRW Fair Value 46,641 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 29,500 KRW – 77,009 KRW · fair‑value band 34,981 KRW – 78,662 KRW · the 31,750 KRW price screens below the 46,641 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.

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Analysis

Hanatour Service Inc (039130) currently trades at 31,750 KRW, while our model-based Fair Value estimate is 46,641 KRW, implying the stock looks roughly 46.9% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Hanatour Service Inc generated revenue of 593B KRW at a net margin of 7.2%. Revenue grew 3.8% year over year. It earns a return on equity of 37.4%. Net debt stands at 24.0B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 34,981 KRW (bear case) to 78,662 KRW (bull case); at 31,750 KRW, the current price sits below 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 44% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -16% fair-value upside, at 47%, 039130 screens cheaper 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 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
Highest evidence
Growth DCF 108,105 KRW 212,955 KRW 424,384 KRW 80
Residual Income 14,789 KRW 19,746 KRW 100,011 KRW 76
Rev-Margin DCF 59,571 KRW 102,517 KRW 166,745 KRW 74
All 24 models by family
DCF Models
FCF DCF 113,141 KRW 188,919 KRW 416,912 KRW 38
Owner Earnings 62,185 KRW 138,539 KRW 305,999 KRW 31
5Y Revenue Exit 59,571 KRW 95,300 KRW 163,808 KRW 39
5Y EBITDA Exit 69,882 KRW 117,470 KRW 204,012 KRW 41
5Y P/E Exit 59,478 KRW 103,788 KRW 158,975 KRW 38
10Y Revenue Exit 73,192 KRW 126,617 KRW 181,021 KRW 36
10Y EBITDA Exit 82,068 KRW 146,879 KRW 260,709 KRW 37
10Y P/E Exit 74,544 KRW 126,434 KRW 210,855 KRW 35
Earnings-Based
Graham-Dodd 14,416 KRW 100,538 KRW 141,090 KRW 54
Lynch FV 30,646 KRW 43,779 KRW 56,913 KRW 50
PEG = 1.0 30,646 KRW 43,779 KRW 56,913 KRW 46
EPV 39,873 KRW 45,968 KRW 51,386 KRW 59
Multiples
P/E Multiple 34,981 KRW 46,641 KRW 58,302 KRW 63
P/S Multiple 27,031 KRW 36,041 KRW 45,051 KRW 58
P/B Multiple 27,031 KRW 36,041 KRW 45,051 KRW 55
EV/EBIT 57,142 KRW 74,411 KRW 91,680 KRW 53
EV/EBITDA 54,631 KRW 71,063 KRW 87,495 KRW 54
EV/Revenue 38,104 KRW 52,147 KRW 66,191 KRW 43
Asset-Based
NCAV (Graham) 4,903 KRW 6,570 KRW 9,807 KRW 50
Growth DCF
Growth DCF 108,105 KRW 212,955 KRW 424,384 KRW 80
Rev-Margin DCF 59,571 KRW 102,517 KRW 166,745 KRW 74
Economic Profit
Residual Income 14,789 KRW 19,746 KRW 100,011 KRW 76
ROIC Compounder 44,201 KRW 56,650 KRW 72,227 KRW 72
Growth Earnings
Growth-Adj P/E 42,357 KRW 60,510 KRW 78,662 KRW 68

Widest divergence: DCF Models (126,434 KRW) versus Asset-Based (6,570 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 593B KRW
Revenue growth (YoY) +3.8%
Net margin 7.2%
Return on equity 37.4%
Free cash flow 95.9B KRW FY2025
Operating margin 9.6%
More key figures
Dividend yield 4.1%
EPS growth (YoY) +102%
Net debt 24.0B KRW FY2020

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

Quality Score breakdown

Overall quality 66/100

Of which business quality 67 · Market factors (momentum, volatility) 28

Profitability 63
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 84
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 82
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

Hanatour Service Inc. engages in the provision of travel and related services in South Korea, Northeast and Southeast Asia, the United States, and Europe. It offers tour, online, and AI services; B2B business; affiliates; and partnerships. The company was formerly known as Kook-Jin travel Agency and changed its name to Hanatour Service Inc. in March 1996.

Full company description

Hanatour Service Inc. engages in the provision of travel and related services in South Korea, Northeast and Southeast Asia, the United States, and Europe. It offers tour, online, and AI services; B2B business; affiliates; and partnerships. The company was formerly known as Kook-Jin travel Agency and changed its name to Hanatour Service Inc. in March 1996. Hanatour Service Inc. was founded in 1993 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

Hanatour Service Inc reported revenue of 587B KRW in FY2025 versus 40.3B KRW in FY2021, a compound +95.4%/yr. Reported net income was 31.9B KRW in FY2025.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
587B KRW
Latest YoY
−4.8%
Avg. growth/yr (3Y) 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.
+72.2%
Avg. growth/yr (5Y) 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.
+39.9%
Avg. growth/yr (20Y) 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.
+8.2%
Revenue +95.4%/yr
FY21 40.3B KRW
FY22 115B KRW
FY23 412B KRW
FY24 617B KRW
FY25 587B KRW
Net income
FY21 −44.0B KRW
FY22 −66.8B KRW
FY23 47.0B KRW
FY24 81.5B KRW
FY25 31.9B KRW

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Cite: Fair Value Calculator (2026). "Hanatour Service Inc Fair Value". https://www.fairvalue-calculator.com/stock/039130

Peer Group

Travel Services · 90 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 66 · Top 25%
Fair Value upside +47% · Top 25%
Return on equity (TTM) 37% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth 4% · Below median
Dividend yield (TTM) 4.1% · Above median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Travel Services median · lower = cheaper

P/FCF 0.0× · 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 96 · sector 19
FUTURE 19 · sector 25
PAST 100 · sector 36
HEALTH 100 · sector 97
DIVIDEND 81 · sector 36

Insider activity: 40/100

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 Travel Services stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Booking Holdings BKNG $182.80 $152.94 -16%
Airbnb, Inc ABNB $148.62 $57.47 -61%
Royal Caribbean Cruises Ltd RCL $286.96 $215.19 -25%
Viking Holdings VIK $100.69 $43.51 -57%
Carnival Corporation CCL $26.41 $31.36 +19%
Expedia Group EXPE $268.77 $248.63 -7%
Trip.com Group TCOM $42.45 $88.82 +109%
Norwegian Cruise Line Holdings NCLH $19.46 $20.28 +4%
Global Business Travel Group GBTG $9.40 $4.17 -56%
Travel + Leisure Co TNL $73.27 $27.29 -63%

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Frequently asked questions

Is Hanatour Service Inc (039130) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 46,641 KRW versus a price of 31,750 KRW, about +47% (undervalued).
What is the fair value of 039130?
Our model-based fair value for Hanatour Service Inc is 46,641 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 31,750 KRW.
What is the quality score of 039130?
Hanatour Service Inc has a Quality Score of 66/100. 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 Hanatour Service Inc (039130)?
Hanatour Service Inc reported trailing-twelve-month revenue of about 593B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 039130?
The net profit margin of Hanatour Service Inc is about 7.2%, meaning it keeps roughly 7.2% of revenue as net income. Based on the latest reported figures.
Does Hanatour Service Inc pay a dividend?
Hanatour Service Inc currently shows a dividend yield of about 3.48% 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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