Hana Materials Inc (166090) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hana Materials Inc KRW 64,570, price KRW 58,700, upside +10.0%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Hana Materials Inc. manufactures and sells silicon electrodes and rings in South Korea. The company offers silicon ceramic parts, ingots, and other parts. It also develops, produces, and sells secondary battery materials. In addition, the company offers integrated system solutions. The company was formerly known as Hana Silicon Co., Ltd.
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Hana Materials Inc. manufactures and sells silicon electrodes and rings in South Korea. The company offers silicon ceramic parts, ingots, and other parts. It also develops, produces, and sells secondary battery materials. In addition, the company offers integrated system solutions. The company was formerly known as Hana Silicon Co., Ltd. and changed its name to Hana Materials Inc. in May 2013. Hana Materials Inc. was founded in 2007 and is headquartered in Cheonan-si, South Korea. The company is a subsidiary of HANA Micron Inc.
Stock analysis
Hana Materials Inc (166090) currently trades at 58,700 KRW, while our model-based Fair Value estimate is 64,570 KRW, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 43,964 KRW per share, and 4 of the 24 models we run sit above the 58,700 KRW price.
Bear case: the Asset-Based group reads lowest at 16,105 KRW, and 20 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 43,661 KRW (bear) to 83,941 KRW (bull), the price of 58,700 KRW sits inside 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 63/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Hana Materials Inc reported revenue of 273B KRW in FY2025 versus 271B KRW in FY2021, a compound +0.2%/yr. Reported net income was 38.4B KRW in FY2025, compounding −12.9%/yr from FY2021.
Key figures
Market cap 1.1T KRW (≈ $793M) · P/S ratio 3.37 · Dividend yield 0.5% · Net margin 14.0% · Return on equity 11.8% · Return on assets (EBIT) 11.9% · Operating margin 22.8% · Revenue (TTM) 308B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 59% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at 10%, 166090 screens cheaper than that median.
Fair Value models
Bear 43,661 KRWFair Value 64,570 KRWBull 83,941 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+8.7%
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.
−3.8%
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.
+6.4%
Start year 2020 (pandemic)
Revenue growth 9 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.
+18.1%
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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. 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.
+0.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.3%
Dividend (yield on the price)0.5%
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.0% vs 13%, 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.26% → 18%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
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).
+19.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+19.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +16.9% a year for the price and +17.4% for the forecasts.
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.Semiconductor Equipment & Materials · 217 stocks
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Is Hana Materials Inc (166090) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 64,570 KRW versus a price of 58,700 KRW, about +10% upside (undervalued).
What is the fair value of 166090?
Our model-based fair value for Hana Materials Inc is 64,570 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 58,700 KRW.
What is the quality score of 166090?
Hana Materials Inc has a Quality Score of 63/100. 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 Hana Materials Inc (166090)?
Our model-based price target is the fair value of 64,570 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 43,661 KRW, optimistic scenario 83,941 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hana Materials Inc stock forecast for 2026?
Our models put fair value at 64,570 KRW, about +10% upside versus a price of 58,700 KRW (undervalued). Cautious scenario 43,661 KRW, optimistic scenario 83,941 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hana Materials Inc (166090)?
Hana Materials Inc reported trailing-twelve-month revenue of about 308B KRW (latest available figure, as of Sep 24, 2026).
Does Hana Materials Inc pay a dividend?
Hana Materials Inc currently shows a dividend yield of about 0.51% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Hana Materials Inc (166090)?
For today's price to be fair in a discounted-cash-flow model, Hana Materials Inc would have to grow free cash flow by +19.3 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 166090 use?
Our models discount Hana Materials Inc at 11.8 %: a base by market capitalisation (small), damped by beta 1.06, 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 Hana Materials Inc that is +19.3 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Hana Materials Inc (166090) delivered so far?
Over the past 5 years revenue at Hana Materials Inc grew +6.4 % a year. The price currently implies +19.3 % 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 Hana Materials Inc (166090) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Hana Materials Inc (+19.3 % 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 Hana Materials Inc (166090)?
The free-cash-flow yield on the price is 4.26 %: that much free cash flow Hana Materials Inc produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hana Materials Inc (166090)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hana Materials Inc it is 64,570 KRW per share (as of Sep 24, 2026), against a price of 58,700 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Hana Materials Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 166090 trades below its calculated fair value: price 58,700 KRW, fair value 64,570 KRW, a gap of about +10% (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 166090?
No. The price is what the market pays today (58,700 KRW); the fair value is what the company's own numbers justify (64,570 KRW). For Hana Materials Inc the two are 5,870 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hana Materials Inc worth?
The market values Hana Materials Inc at about 1.1T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 58,700 KRW; our models calculate a fair value of 64,570 KRW per share.
What do the bullish and bearish scenarios say about 166090?
Our models span a range for Hana Materials Inc: cautious scenario 43,661 KRW, base 64,570 KRW, optimistic 83,941 KRW per share (as of Sep 24, 2026, price 58,700 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hana Materials Inc (166090)?
Balance-sheet figures for Hana Materials Inc (as of Sep 24, 2026): return on equity 11.8%, debt of 0.14 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 166090 from its 52-week high?
Hana Materials Inc trades at 58,700 KRW, about 28% below its 52-week high of 81,100 KRW and 59% above the low of 36,990 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 64,570 KRW is for.
Which stocks are comparable to Hana Materials Inc?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA 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 Hana Materials Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 58,700 KRW, calculated fair value 64,570 KRW (+10%), Quality Score 63/100, from 24 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 166090 calculated?
We run Hana Materials Inc through 24 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 64,570 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. Hana Materials Inc currently trades 10 % 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 Hana Materials Inc (166090)?
The closing price on Sep 23, 2026 was 58,700 KRW. Our model-based fair value is 64,570 KRW, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hana Materials Inc right now?
A fairly wide model range (43,661 KRW to 83,941 KRW) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Hana Materials Inc
How large is the market capitalisation of Hana Materials Inc (166090)?
The market capitalisation of Hana Materials Inc is 1.1T KRW (≈ $793M). 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 Hana Materials Inc (166090)?
The price-to-sales ratio of Hana Materials Inc is 3.37 (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 Hana Materials Inc (166090)?
The dividend yield of Hana Materials Inc is 0.5%. 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 Hana Materials Inc (166090)?
The net margin of Hana Materials Inc is 14.0% (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 Hana Materials Inc (166090)?
The return on equity (ROE) of Hana Materials Inc is 11.8% (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 Hana Materials Inc (166090)?
On an EBIT basis the return on assets of Hana Materials Inc is 11.9% (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 Hana Materials Inc (166090)?
The operating margin of Hana Materials Inc is 22.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hana Materials Inc (166090)?
Revenue at Hana Materials Inc is growing +59.3% versus a year earlier (3y avg −3.8%). 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 Hana Materials Inc (166090)?
Earnings per share at Hana Materials Inc are growing +188% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hana Materials Inc (166090) carry?
The net debt of Hana Materials Inc is 95.5B KRW (fiscal year 2025, ≈ 2.0 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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