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Hanwha Life (088350) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Hanwha Life KRW 11,280, price KRW 5,640, upside +100.0%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · KR · ISIN KR7088350004

HL Some data Sep 24, 2026

Hanwha Life

088350 · KO

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value 11,280 KRW · Strongly undervalued (+100%)
!Quality 54/100
!Weak Growth (revenue 5y −5.5 %/yr)
!Thin margins · 2.8% net margin (TTM)
✓Moderate debt · generates free cash flow
!Mixed vs. peers (6/11)
!Narrow moat 35/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 25 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

6,600 KRW 1,801 KRW Fair Value 11,280 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 1,801 KRW – 6,600 KRW · fair‑value band 9,420 KRW – 13,070 KRW · the 5,640 KRW price screens below the 11,280 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

Hanwha Life Insurance Co., Ltd. provides insurance products to individual and corporate customers in South Korea and internationally.

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Hanwha Life Insurance Co., Ltd. provides insurance products to individual and corporate customers in South Korea and internationally. The company offers health, retirement, investment, group, accident, pension, and savings insurance products; retirement pension plans; consulting services; asset management products; and undertakes related reinsurance contracts. It provides its products through financial planner, group financial planner, general agency, and bancassurance, as well as through online. Hanwha Life Insurance Co., Ltd. was formerly known as Korea Life Insurance Co., Ltd. and changed its name to Hanwha Life Insurance Co., Ltd. in October 2012. The company was incorporated in 1946 and is headquartered in Seoul, South Korea.

Stock analysis

Hanwha Life (088350) currently trades at 5,640 KRW, while our model-based Fair Value estimate is 11,280 KRW, implying the stock looks roughly 50.0% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 12,755 KRW per share, and 4 of the 6 models we run sit above the 5,640 KRW price.

Bear case: the Dividend Discount group reads lowest at 2,201 KRW, and 2 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: 9,420 KRW (bear) to 13,070 KRW (bull), the price of 5,640 KRW sits below 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 54/100 (solid quality), in the Financial Services sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Hanwha Life reported revenue of 16.7T KRW in FY2024 versus 20.1T KRW in FY2020, a compound −4.6%/yr. Reported net income was 737B KRW in FY2024, compounding +33.1%/yr from FY2020. FY2020 was a trough year, so the rate overstates the trend.

Key figures

Market cap 4.2T KRW (≈ $3.0B) · P/S ratio 0.12 · Dividend yield 4.1% · Net margin 4.4% · Return on equity 6.2% · Return on assets (EBIT) 0.8% · Operating margin 9.7% · Revenue (TTM) 28.8T KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).

What moves the price

The share trades about 15% below its 52-week high and 92% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 100%, 088350 screens cheaper than that median.

Fair Value models

Bear 9,420 KRW Fair Value 11,280 KRW Bull 13,070 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 12,236 KRW 12,569 KRW 12,652 KRW 76
Gordon GGM 1,634 KRW 2,201 KRW 2,761 KRW 69
DDM Multi-Stage 1,634 KRW 2,230 KRW 2,906 KRW 67
All 6 models by family
Dividend Discount
Gordon GGM 1,634 KRW 2,201 KRW 2,761 KRW 69
DDM Multi-Stage 1,634 KRW 2,230 KRW 2,906 KRW 67
Multiples
P/E Multiple 9,567 KRW 12,755 KRW 15,944 KRW 63
P/B Multiple 12,510 KRW 16,680 KRW 20,850 KRW 55
Asset-Based
NCAV (Graham) 7,849 KRW 10,517 KRW 15,697 KRW 54
Economic Profit
Residual Income 12,236 KRW 12,569 KRW 12,652 KRW 76

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Quality Score breakdown

Overall quality 54/100

Of which business quality 51 · Market factors (momentum, volatility) 68

Profitability 18
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 87
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. 38/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−3.0%
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.
−7.6%
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.
−5.5%
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.
+2.8%
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. 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.
+29.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+25.7%
Dividend (yield on the price)4.1%
Profit margin 2013 to 2018 ⓘ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.5% → 0%
⚠ Revenue per share shrinking 4.4%/yr over ~5Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

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Compare Hanwha Life with another stock

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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.Insurance - Life · 95 stocks

Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 54 · Above median
Fair Value upside +100% · Top 25%
Profitability
Return on equity (TTM) 6% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 10% · Below median
Growth and dividend
Revenue growth 41% · Top 25%
Dividend yield (TTM) 4.1% · Above median
Balance sheet
Debt / equity 1.12× · Highest 25%

Valuation Multiplesvs Insurance - Life median · lower = cheaper

P/FCF 0.0× · Cheapest 25%
EV/EBITDA 2.3× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 9
FUTURE (revenue growth)100 · sector 43
PAST (return on equity)25 · sector 43
HEALTH (low debt)44 · sector 84
DIVIDEND (yield)82 · sector 56

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 Insurance - Life stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
China Life Insurance Company 601628 ¥38.60 ¥49.98 +29%
Ping An Insurance (Group) Company 601318 ¥53.87 ¥66.20 +23%
AIA Group 1299 HK$75.35 HK$41.68 −45%
Manulife Financial Corporation MFC $44.17 $27.59 −38%
Aflac Incorporated AFL $114.60 $67.96 −41%
MetLife, Inc MET $95.92 $53.26 −44%
Great-West Lifeco Inc GWO C$92.75 C$41.81 −55%
Life Insurance Corporation LICI ₹407.50 ₹392.93 −4%
Cathay Financial Holding 2882 110.50 TWD 72.33 TWD −35%
China Pacific Insurance (Group) Co 601601 ¥31.61 ¥49.71 +57%

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Hanwha Life · Fair Value
11,280 KRW +50%Fair Value
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Cite: Fair Value Calculator (2026). "Hanwha Life Fair Value". https://www.fairvalue-calculator.com/stock/088350

Frequently asked questions

Is Hanwha Life (088350) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 11,280 KRW versus a price of 5,640 KRW, about +100% upside (undervalued).
What is the fair value of 088350?
Our model-based fair value for Hanwha Life is 11,280 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 5,640 KRW.
What is the quality score of 088350?
Hanwha Life has a Quality Score of 54/100. 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 Hanwha Life (088350)?
Our model-based price target is the fair value of 11,280 KRW (as of Sep 24, 2026) from 6 valuation models. Cautious scenario 9,420 KRW, optimistic scenario 13,070 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hanwha Life stock forecast for 2026?
Our models put fair value at 11,280 KRW, about +100% upside versus a price of 5,640 KRW (undervalued). Cautious scenario 9,420 KRW, optimistic scenario 13,070 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hanwha Life (088350)?
Hanwha Life reported trailing-twelve-month revenue of about 28.8T KRW (latest available figure, as of Sep 24, 2026).
Does Hanwha Life pay a dividend?
Hanwha Life currently shows a dividend yield of about 4.10% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Hanwha Life (088350)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hanwha Life it is 11,280 KRW per share (as of Sep 24, 2026), against a price of 5,640 KRW. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Hanwha Life stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 088350 trades below its calculated fair value: price 5,640 KRW, fair value 11,280 KRW, a gap of about +100% (undervalued). 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 088350?
No. The price is what the market pays today (5,640 KRW); the fair value is what the company's own numbers justify (11,280 KRW). For Hanwha Life the two are 5,640 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hanwha Life worth?
The market values Hanwha Life at about 4.2T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 5,640 KRW; our models calculate a fair value of 11,280 KRW per share.
What do the bullish and bearish scenarios say about 088350?
Our models span a range for Hanwha Life: cautious scenario 9,420 KRW, base 11,280 KRW, optimistic 13,070 KRW per share (as of Sep 24, 2026, price 5,640 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hanwha Life (088350)?
Balance-sheet figures for Hanwha Life (as of Sep 24, 2026): return on equity 6.2%, debt of 1.12 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 088350 from its 52-week high?
Hanwha Life trades at 5,640 KRW, about 15% below its 52-week high of 6,600 KRW and 92% above the low of 2,940 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 11,280 KRW is for.
Which stocks are comparable to Hanwha Life?
From the same area (Financial Services) we also value China Life Insurance Company, Ping An Insurance (Group) Company, AIA Group, Manulife Financial Corporation, 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 Hanwha Life stock attractive at the current price?
The data as of Sep 24, 2026: price 5,640 KRW, calculated fair value 11,280 KRW (+100%), Quality Score 54/100, from 6 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 088350 calculated?
We run Hanwha Life through 6 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 11,280 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. Hanwha Life currently trades 100 % below its own fair value, and the market average says nothing about that. 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 Hanwha Life (088350)?
The closing price on Sep 23, 2026 was 5,640 KRW. Our model-based fair value is 11,280 KRW, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hanwha Life right now?
The price is below even our cautious bear case (9,420 KRW). The market is more pessimistic than our downside scenario. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Hanwha Life

How large is the market capitalisation of Hanwha Life (088350)?
The market capitalisation of Hanwha Life is 4.2T KRW (≈ $3.0B). 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 Hanwha Life (088350)?
The price-to-sales ratio of Hanwha Life is 0.12 (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 Hanwha Life (088350)?
The dividend yield of Hanwha Life is 4.1%. 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 Hanwha Life (088350)?
The net margin of Hanwha Life is 4.4% (fiscal year 2024). 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 Hanwha Life (088350)?
The return on equity (ROE) of Hanwha Life is 6.2% (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 Hanwha Life (088350)?
On an EBIT basis the return on assets of Hanwha Life is 0.8% (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 Hanwha Life (088350)?
The operating margin of Hanwha Life is 9.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hanwha Life (088350)?
Revenue at Hanwha Life is growing +41.0% versus a year earlier (3y avg −7.6%). 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 Hanwha Life (088350)?
Earnings per share at Hanwha Life are growing +42.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hanwha Life (088350) generate?
The free cash flow of Hanwha Life is 5.1T KRW (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hanwha Life (088350) carry?
The net debt of Hanwha Life is 8.4T KRW (fiscal year 2024, ≈ 1.6 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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