Hankook Cosmet (123690) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hankook Cosmet KRW 1,244, price KRW 6,340, upside -80.4%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Stretched ValuationStrong overvaluation with only moderate quality.
!Fair value 1,244 KRW · Strongly overvalued (−80%)
!Quality 56/100
!Mixed Growth(revenue 5y +3.2 %/yr)
!Thin margins · 1.7% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers(3/9)
!Narrow moat32/100
!Evidence only low, so the estimate is less certain
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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 5,200 KRW – 12,950 KRW · fair‑value band 1,214 KRW – 1,491 KRW · the 6,340 KRW price screens above the 1,244 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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Hankook Cosmetics Co., Ltd. engages in the manufacture and sale of cosmetics in South Korea and internationally. It offers make up, eye cream, peeling gel, perfume, candle, body and hair care, sun care, pack/sheet mask, emulsion, baby care, mask, serum, cleansing, eye shadow, ampule, essence, toner, and cream products.
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Hankook Cosmetics Co., Ltd. engages in the manufacture and sale of cosmetics in South Korea and internationally. It offers make up, eye cream, peeling gel, perfume, candle, body and hair care, sun care, pack/sheet mask, emulsion, baby care, mask, serum, cleansing, eye shadow, ampule, essence, toner, and cream products. The company sells its products under the Sansim, Hyoum, CONTINUE, OSSION, Jutanhak, Daol, IDEM, Beautri, TONE fit SUN, O'earth, PHYTO CARRIER, Temptation, and other brands. It is also involved in real estate rental and leasing business. The company was founded in 1961 and is headquartered in Seoul, South Korea.
Stock analysis
Hankook Cosmet (123690) currently trades at 6,340 KRW, while our model-based Fair Value estimate is 1,244 KRW, implying the stock looks roughly 409.7% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2,292 KRW per share, and 0 of the 22 models we run sit above the 6,340 KRW price.
Bear case: the Earnings-Based group reads lowest at 583.03 KRW, and 22 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 1,214 KRW (bear) to 1,491 KRW (bull), the price of 6,340 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 56/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hankook Cosmet reported revenue of 85.0B KRW in FY2025 versus 67.0B KRW in FY2021, a compound +6.2%/yr. Reported net income was 1.1B KRW in FY2025.
Key figures
Market cap 102B KRW (≈ $71.3M) · P/S ratio 1.19 · Net margin 1.3% · Return on equity 3.7% · Return on assets (EBIT) 1.4% · Operating margin 9.2% · Revenue (TTM) 81.4B KRW · Revenue growth (YoY) −14.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 50% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −25% fair-value upside, at −80%, 123690 screens richer than that median.
Fair Value models
Bear 1,214 KRWFair Value 1,244 KRWBull 1,491 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.53/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−8.4%
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.
+8.8%
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.
+3.2%
Start year 2020 (pandemic). Over 10 years: −1.5% a year
Revenue growth 14 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.
+1.4%
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What shareholders gained per year (last 3 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 3 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.
−18.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.1%
Dividend (yield on the price)0.0%
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.−23% → 1%
⚠ Revenue per share shrinking 9.2%/yr over ~6Y (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.
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).
+28.9%
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 +26.2% 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.Household & Personal Products · 250 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score56 · Below median
Fair Value upside−80% · Bottom 25%
Profitability
Return on equity (TTM)4% · Below median
Return on assets1% · Below median
Net margin (TTM)2% · Below median
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth−15% · Bottom 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Household & Personal Products median · lower = cheaper
P/FCF0.0× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 33
FUTURE (revenue growth)0· sector 9
PAST (return on equity)15· sector 28
HEALTH (low debt)100· sector 98
DIVIDEND (yield)0· sector 55
VALUE 0: the price sits above our fair-value range.
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Cite: Fair Value Calculator (2026). "Hankook Cosmet Fair Value". https://www.fairvalue-calculator.com/stock/123690
Frequently asked questions
Is Hankook Cosmet (123690) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,244 KRW versus a price of 6,340 KRW, about −80% upside (overvalued).
What is the fair value of 123690?
Our model-based fair value for Hankook Cosmet is 1,244 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 6,340 KRW.
What is the quality score of 123690?
Hankook Cosmet has a Quality Score of 56/100. 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 Hankook Cosmet (123690)?
Our model-based price target is the fair value of 1,244 KRW (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 1,214 KRW, optimistic scenario 1,491 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hankook Cosmet stock forecast for 2026?
Our models put fair value at 1,244 KRW, about −80% upside versus a price of 6,340 KRW (overvalued). Cautious scenario 1,214 KRW, optimistic scenario 1,491 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hankook Cosmet (123690)?
Hankook Cosmet reported trailing-twelve-month revenue of about 81.4B KRW (latest available figure, as of Sep 24, 2026).
What growth is priced into Hankook Cosmet (123690)?
For today's price to be fair in a discounted-cash-flow model, Hankook Cosmet would have to grow free cash flow by +28.9 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 123690 use?
Our models discount Hankook Cosmet at 11.6 %: a base by market capitalisation (micro), damped by beta 0.50, 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 Hankook Cosmet that is +28.9 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Hankook Cosmet (123690) delivered so far?
Over the past 5 years revenue at Hankook Cosmet grew +3.2 % a year. The price currently implies +28.9 % 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 Hankook Cosmet (123690) growing?
The median revenue growth in the sector is +2.8 % a year. That is the yardstick for the growth priced into Hankook Cosmet (+28.9 % 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 Hankook Cosmet (123690)?
The free-cash-flow yield on the price is 2.08 %: that much free cash flow Hankook Cosmet produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hankook Cosmet (123690)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hankook Cosmet it is 1,244 KRW per share (as of Sep 24, 2026), against a price of 6,340 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Hankook Cosmet stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 123690 trades above its calculated fair value: price 6,340 KRW, fair value 1,244 KRW, a gap of about −80% (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 123690?
No. The price is what the market pays today (6,340 KRW); the fair value is what the company's own numbers justify (1,244 KRW). For Hankook Cosmet the two are 5,096 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hankook Cosmet worth?
The market values Hankook Cosmet at about 102B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 6,340 KRW; our models calculate a fair value of 1,244 KRW per share.
What do the bullish and bearish scenarios say about 123690?
Our models span a range for Hankook Cosmet: cautious scenario 1,214 KRW, base 1,244 KRW, optimistic 1,491 KRW per share (as of Sep 24, 2026, price 6,340 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hankook Cosmet (123690)?
Balance-sheet figures for Hankook Cosmet (as of Sep 24, 2026): return on equity 3.7%, debt of 0.01 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 123690 from its 52-week high?
Hankook Cosmet trades at 6,340 KRW, about 50% below its 52-week high of 12,750 KRW and 14% above the low of 5,550 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,244 KRW is for.
Which stocks are comparable to Hankook Cosmet?
From the same area (Consumer Defensive) we also value The Procter & Gamble Company, Colgate-Palmolive Company, Hindustan Unilever Limited, Kenvue 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 Hankook Cosmet stock attractive at the current price?
The data as of Sep 24, 2026: price 6,340 KRW, calculated fair value 1,244 KRW (−80%), Quality Score 56/100, from 22 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 123690 calculated?
We run Hankook Cosmet through 22 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 1,244 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. Hankook Cosmet 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 Hankook Cosmet (123690)?
The closing price on Sep 23, 2026 was 6,340 KRW. Our model-based fair value is 1,244 KRW, about −80% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hankook Cosmet right now?
The price sits above even our optimistic bull case (1,491 KRW). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Hankook Cosmet
How large is the market capitalisation of Hankook Cosmet (123690)?
The market capitalisation of Hankook Cosmet is 102B KRW (≈ $71.3M). 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 Hankook Cosmet (123690)?
The price-to-sales ratio of Hankook Cosmet is 1.19 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Hankook Cosmet (123690)?
The net margin of Hankook Cosmet is 1.3% (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 Hankook Cosmet (123690)?
The return on equity (ROE) of Hankook Cosmet is 3.7% (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 Hankook Cosmet (123690)?
On an EBIT basis the return on assets of Hankook Cosmet is 1.4% (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 Hankook Cosmet (123690)?
The operating margin of Hankook Cosmet is 9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hankook Cosmet (123690)?
Revenue at Hankook Cosmet is growing −14.9% versus a year earlier (3y avg +8.8%). 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 Hankook Cosmet (123690)?
Earnings per share at Hankook Cosmet are growing +10.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hankook Cosmet (123690) carry?
The net debt of Hankook Cosmet is 4.9B KRW (fiscal year 2019, ≈ 2.3 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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