Hanjinkal (180640) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Hanjinkal KRW 28,213, price KRW 132,400, upside -78.7%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 27, 2026.
How to read this chart
60‑month range 34,622 KRW – 172,469 KRW · fair‑value band 20,467 KRW – 39,832 KRW · the 132,400 KRW price screens above the 28,213 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Hanjin Kal, together with its subsidiaries, engages in the provision of airline services in South Korea. The company offers aviation services, such as ground handling, flight operations management, and engine commissioning. It also provides services in investment, management consulting, licensing, real estate leasing business, tourism, and hotel operations.
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Hanjin Kal, together with its subsidiaries, engages in the provision of airline services in South Korea. The company offers aviation services, such as ground handling, flight operations management, and engine commissioning. It also provides services in investment, management consulting, licensing, real estate leasing business, tourism, and hotel operations. In addition, the company offers building management services, including building maintenance, parking lot operation and maintenance, and facility rental services. The company was incorporated in 2013 and is headquartered in Seoul, South Korea.
Stock analysis
Hanjinkal (180640) currently trades at 132,400 KRW, while our model-based Fair Value estimate is 28,213 KRW, 78.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 38,662 KRW per share, and 0 of the 20 models we run sit above the 132,400 KRW price.
Bear case: the Dividend Discount group reads lowest at 3,991 KRW, and 20 of the 20 models stay below the price. Evidence for this calculation is medium.
Scenario range: 20,467 KRW (bear) to 39,832 KRW (bull), the price of 132,400 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 65/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Hanjinkal reported revenue of 298B KRW in FY2025 versus 395B KRW in FY2021, a compound −6.8%/yr. Reported net income was 155B KRW in FY2025, compounding +73.2%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 8.8T KRW (≈ $6.5B) · P/S ratio 30.6 · Dividend yield 0.3% · Net margin 52.0% · Return on equity −0.8% · Return on assets (EBIT) −0.5% · Operating margin 23.5% · Revenue (TTM) 306B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 41% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at −79%, 180640 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (3,991 KRW to 48,759 KRW). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 20,467 KRWFair Value 28,213 KRWBull 39,832 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. 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.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
+2.1%
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.
+14.2%
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.
−6.1%
Start year 2020 (pandemic). Over 10 years: −8.5% 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.
+1.8%
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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.
+55.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+55.4%
Dividend (yield on the price)0.3%
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.−54% → −3%
⚠ Revenue per share shrinking 19.1%/yr over ~7Y (margins intact) ⓘ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).
+36.6%
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 +33.8% 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.Real Estate Services · 540 stocks
Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside−78.7% · Bottom 25%
Profitability
Return on assets0.1% · Bottom 25%
Net margin (TTM)−10.0% · Bottom 25%
Operating margin (TTM)23.5% · Above median
Growth and dividend
Revenue growth1.1% · Below median
Dividend yield (TTM)0.3% · Bottom 25%
Balance sheet
Debt / equity0.10× · Below median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
P/S (TTM)0.02× · Cheapest 25%
EV/EBITDA10.3× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 45
FUTURE (revenue growth)6· sector 12
PAST (return on equity)0· sector 16
HEALTH (low debt)95· sector 83
DIVIDEND (yield)5· sector 63
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). "Hanjinkal Fair Value". https://www.fairvalue-calculator.com/stock/180640
Frequently asked questions
Is Hanjinkal (180640) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 28,213 KRW versus a price of 132,400 KRW, about −79% upside (overvalued).
What is the fair value of 180640?
Our model-based fair value for Hanjinkal is 28,213 KRW (as of Sep 27, 2026), built from audited fundamentals. The current price: 132,400 KRW.
What is the quality score of 180640?
Hanjinkal has a Quality Score of 65/100. 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 Hanjinkal (180640)?
Our model-based price target is the fair value of 28,213 KRW (as of Sep 27, 2026) from 20 valuation models. Cautious scenario 20,467 KRW, optimistic scenario 39,832 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hanjinkal stock forecast for 2026?
Our models put fair value at 28,213 KRW, about −79% upside versus a price of 132,400 KRW (overvalued). Cautious scenario 20,467 KRW, optimistic scenario 39,832 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hanjinkal (180640)?
Hanjinkal reported trailing-twelve-month revenue of about 306B KRW (latest available figure, as of Sep 27, 2026).
Does Hanjinkal pay a dividend?
Hanjinkal currently shows a dividend yield of about 0.27% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Hanjinkal (180640)?
For today's price to be fair in a discounted-cash-flow model, Hanjinkal would have to grow free cash flow by +36.6 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.1 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 180640 use?
Our models discount Hanjinkal at 9.9 %: a base by market capitalisation (mid), damped by beta 0.88, 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 Hanjinkal that is +36.6 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Hanjinkal (180640) delivered so far?
Over the past 5 years revenue at Hanjinkal grew -6.1 % a year. The price currently implies +36.6 % 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 Hanjinkal (180640) growing?
The median revenue growth in the sector is +5.5 % a year. That is the yardstick for the growth priced into Hanjinkal (+36.6 % 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 Hanjinkal (180640)?
The free-cash-flow yield on the price is 1.32 %: that much free cash flow Hanjinkal produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hanjinkal (180640)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hanjinkal it is 28,213 KRW per share (as of Sep 27, 2026), against a price of 132,400 KRW. It is the blended result of 20 valuation models (cash flow, earnings, asset, dividend).
Is Hanjinkal stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 180640 trades above its calculated fair value: price 132,400 KRW, fair value 28,213 KRW, a gap of about −79% (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 180640?
No. The price is what the market pays today (132,400 KRW); the fair value is what the company's own numbers justify (28,213 KRW). For Hanjinkal the two are 104,187 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hanjinkal worth?
The market values Hanjinkal at about 8.8T KRW (market capitalisation, as of Sep 27, 2026). Per share that is 132,400 KRW; our models calculate a fair value of 28,213 KRW per share.
What do the bullish and bearish scenarios say about 180640?
Our models span a range for Hanjinkal: cautious scenario 20,467 KRW, base 28,213 KRW, optimistic 39,832 KRW per share (as of Sep 27, 2026, price 132,400 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hanjinkal (180640)?
Balance-sheet figures for Hanjinkal (as of Sep 27, 2026): return on equity −0.8%, debt of 0.10 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is 180640 from its 52-week high?
Hanjinkal trades at 132,400 KRW, about 23% below its 52-week high of 172,469 KRW and 41% above the low of 93,612 KRW (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of 28,213 KRW is for.
Which stocks are comparable to Hanjinkal?
From the same area (Real Estate) we also value CBRE Group, KE Holdings, Cellnex Telecom, S.A, Swire Properties Limited, 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 Hanjinkal stock attractive at the current price?
The data as of Sep 27, 2026: price 132,400 KRW, calculated fair value 28,213 KRW (−79%), Quality Score 65/100, from 20 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 180640 calculated?
We run Hanjinkal through 20 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 28,213 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 14.7 % above its aggregate fair value. Hanjinkal 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 Hanjinkal (180640)?
The closing price on Sep 30, 2026 was 132,400 KRW. Our model-based fair value is 28,213 KRW, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hanjinkal right now?
The price sits above even our optimistic bull case (39,832 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (20,467 KRW to 39,832 KRW) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Hanjinkal
How large is the market capitalisation of Hanjinkal (180640)?
The market capitalisation of Hanjinkal is 8.8T KRW (≈ $6.5B). 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 Hanjinkal (180640)?
The price-to-sales ratio of Hanjinkal is 30.6 (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 Hanjinkal (180640)?
The dividend yield of Hanjinkal is 0.3%. 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 Hanjinkal (180640)?
The net margin of Hanjinkal is 52.0% (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 Hanjinkal (180640)?
The return on equity (ROE) of Hanjinkal is −0.8% (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 Hanjinkal (180640)?
On an EBIT basis the return on assets of Hanjinkal is −0.5% (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 Hanjinkal (180640)?
The operating margin of Hanjinkal is 23.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hanjinkal (180640)?
Revenue at Hanjinkal is growing +1.1% versus a year earlier (3y avg +14.2%). 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 Hanjinkal (180640)?
Earnings per share at Hanjinkal are growing +15.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hanjinkal (180640) carry?
The net debt of Hanjinkal is 352B KRW (fiscal year 2025, ≈ 3.0 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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