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Hanjoo Light Metal Co., Ltd. (198940) fair value: what the stock is really worth

As of Sep 28, 2026: fair value of Hanjoo Light Metal Co., Ltd. KRW 4,149, price KRW 1,383, upside +200.0%, quality 42 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? No
  3. Add to watchlist

Consumer Cyclical · KR

HL Thin data Sep 29, 2026

Hanjoo Light Metal Co., Ltd.

198940 · KQ

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 4,149 KRW · Strongly undervalued (+200.0%)
!Quality 42/100
!Expensive Growth (revenue 3y +3.7 %/yr)
!Loss-making · -1.3% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (2/9)
!Narrow moat 18/100
!Evidence only low, so the estimate is less certain
!Weak on future: 8 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

10,660 KRW 1,184 KRW Fair Value 4,149 KRW Jan 2023 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.

How to read this chart

44‑month range 1,184 KRW – 10,660 KRW · fair‑value band 2,335 KRW – 5,963 KRW · the 1,383 KRW price screens below the 4,149 KRW fair value. Dashed = 300-day average. As of Sep 29, 2026.

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Company profile

Hanjoo Light Metal Co., Ltd. manufactures and sells automobile parts. It offers EV components, lightweight components, engine components, and marine propulsion components. The company was formerly known as Hanjoo Metal Co., Ltd. and changed its name to Hanjoo Light Metal Co., Ltd. in January 1996. Hanjoo Light Metal Co., Ltd.

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Hanjoo Light Metal Co., Ltd. manufactures and sells automobile parts. It offers EV components, lightweight components, engine components, and marine propulsion components. The company was formerly known as Hanjoo Metal Co., Ltd. and changed its name to Hanjoo Light Metal Co., Ltd. in January 1996. Hanjoo Light Metal Co., Ltd. was incorporated in 1987 and is headquartered in Ulsan, South Korea.

Stock analysis

Hanjoo Light Metal Co., Ltd. (198940) currently trades at 1,383 KRW, while our model-based Fair Value estimate is 4,149 KRW, implying the stock looks roughly 66.7% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 1,601 KRW per share, and 2 of the 4 models we run sit above the 1,383 KRW price.

Bear case: the Multiples group reads lowest at 492.75 KRW, and 2 of the 4 models stay below the price. Evidence for this calculation is low.

Scenario range: 2,335 KRW (bear) to 5,963 KRW (bull), the price of 1,383 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 42/100 (below-average quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Hanjoo Light Metal Co., Ltd. reported revenue of 259B KRW in FY2025 versus 189B KRW in FY2021, a compound +8.2%/yr. Reported net income was −2.7B KRW in FY2025.

Key figures

Market cap 26.9B KRW (≈ $19.8M) · P/S ratio 0.10 · Net margin −1.1% · Return on equity −7.0% · Return on assets (EBIT) −0.7% · Operating margin 1.9% · Revenue (TTM) 260B KRW · Revenue growth (YoY) +1.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 47% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −32% fair-value upside, at 200%, 198940 screens cheaper than that median.

Fair Value models

Bear 2,335 KRW Fair Value 4,149 KRW Bull 5,963 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.
Highest evidence
EV/EBITDA 6,868 KRW 9,404 KRW 11,940 KRW 67
EV/EBIT 184.38 KRW 492.75 KRW 801.13 KRW 61
NCAV (Graham) 1,195 KRW 1,601 KRW 2,390 KRW 54
All 4 models by family
Multiples
EV/EBIT 184.38 KRW 492.75 KRW 801.13 KRW 61
EV/EBITDA 6,868 KRW 9,404 KRW 11,940 KRW 67
EV/Revenue n/a 150.11 KRW 417.37 KRW 50
Asset-Based
NCAV (Graham) 1,195 KRW 1,601 KRW 2,390 KRW 54

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Quality Score breakdown

Overall quality 42/100

Of which business quality 39 · Market factors (momentum, volatility) 25

Profitability 25
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 22
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 100
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. 20/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.5%
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.
+3.7%
Profit margin (trend) ⓘ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.
3.7% (2021) → 0.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Auto Parts · 684 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside +200.0% · Top 25%
Profitability
Return on assets 0.2% · Bottom 25%
Net margin (TTM) −1.3% · Bottom 25%
Operating margin (TTM) 1.9% · Bottom 25%
Growth and dividend
Revenue growth 1.5% · Below median
Balance sheet
Debt / equity 0.48× · Highest 25%

Valuation Multiplesvs Auto Parts median · lower = cheaper

EV/EBITDA 0.9× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 25
FUTURE (revenue growth)8 · sector 19
PAST (return on equity)0 · sector 28
HEALTH (low debt)76 · sector 95
DIVIDEND (yield)0 · sector 37

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

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10 more Auto Parts stocks, each showing price versus our Fair Value estimate.

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O'Reilly Automotive, Inc ORLY $86.12 $49.20 −43%
AutoZone, Inc AZO $2,872 $2,468 −14%
Hyundai Mobis Co 012330 367,500 KRW 638,183 KRW +74%
Fuyao Glass Industry Group 600660 ¥52.47 ¥78.11 +49%
Knorr-Bremse AG KBX €107.70 €72.88 −32%
Samvardhana Motherson International Limited MOTHERSON ₹165.71 ₹96.97 −41%
Genuine Parts Company GPC $129.61 $57.98 −55%
Magna International Inc MGA $65.00 $69.37 +7%
Bosch Limited BOSCHLTD ₹48,250 ₹25,213 −48%
Ningbo Tuopu Group 601689 ¥46.44 ¥28.28 −39%

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Hanjoo Light Metal Co., Ltd. · Fair Value
4,149 KRW +67%Fair Value
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Cite: Fair Value Calculator (2026). "Hanjoo Light Metal Co., Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/198940

Frequently asked questions

Is Hanjoo Light Metal Co., Ltd. (198940) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of 4,149 KRW versus a price of 1,383 KRW, about +200% upside (undervalued).
What is the fair value of 198940?
Our model-based fair value for Hanjoo Light Metal Co., Ltd. is 4,149 KRW (as of Sep 29, 2026), built from audited fundamentals. The current price: 1,383 KRW.
What is the quality score of 198940?
Hanjoo Light Metal Co., Ltd. has a Quality Score of 42/100. 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 Hanjoo Light Metal Co., Ltd. (198940)?
Our model-based price target is the fair value of 4,149 KRW (as of Sep 29, 2026) from 4 valuation models. Cautious scenario 2,335 KRW, optimistic scenario 5,963 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hanjoo Light Metal Co., Ltd. stock forecast for 2026?
Our models put fair value at 4,149 KRW, about +200% upside versus a price of 1,383 KRW (undervalued). Cautious scenario 2,335 KRW, optimistic scenario 5,963 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hanjoo Light Metal Co., Ltd. (198940)?
Hanjoo Light Metal Co., Ltd. reported trailing-twelve-month revenue of about 260B KRW (latest available figure, as of Sep 29, 2026).
What is the intrinsic value of Hanjoo Light Metal Co., Ltd. (198940)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hanjoo Light Metal Co., Ltd. it is 4,149 KRW per share (as of Sep 29, 2026), against a price of 1,383 KRW. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Hanjoo Light Metal Co., Ltd. stock overvalued or undervalued in 2026?
As of Sep 29, 2026, 198940 trades below its calculated fair value: price 1,383 KRW, fair value 4,149 KRW, a gap of about +200% (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 198940?
No. The price is what the market pays today (1,383 KRW); the fair value is what the company's own numbers justify (4,149 KRW). For Hanjoo Light Metal Co., Ltd. the two are 2,766 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hanjoo Light Metal Co., Ltd. worth?
The market values Hanjoo Light Metal Co., Ltd. at about 26.9B KRW (market capitalisation, as of Sep 29, 2026). Per share that is 1,383 KRW; our models calculate a fair value of 4,149 KRW per share.
What do the bullish and bearish scenarios say about 198940?
Our models span a range for Hanjoo Light Metal Co., Ltd.: cautious scenario 2,335 KRW, base 4,149 KRW, optimistic 5,963 KRW per share (as of Sep 29, 2026, price 1,383 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hanjoo Light Metal Co., Ltd. (198940)?
Balance-sheet figures for Hanjoo Light Metal Co., Ltd. (as of Sep 29, 2026): return on equity −7.0%, debt of 0.48 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 198940 from its 52-week high?
Hanjoo Light Metal Co., Ltd. trades at 1,383 KRW, about 47% below its 52-week high of 2,630 KRW and 17% above the low of 1,184 KRW (as of Sep 28, 2026). Distance from the high says nothing about value: that is what the fair value of 4,149 KRW is for.
Which stocks are comparable to Hanjoo Light Metal Co., Ltd.?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Hanjoo Light Metal Co., Ltd. stock attractive at the current price?
The data as of Sep 29, 2026: price 1,383 KRW, calculated fair value 4,149 KRW (+200%), Quality Score 42/100, from 4 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 198940 calculated?
We run Hanjoo Light Metal Co., Ltd. through 4 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 4,149 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 15.9 % above its aggregate fair value. Hanjoo Light Metal Co., Ltd. currently trades 200 % 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 Hanjoo Light Metal Co., Ltd. (198940)?
The closing price on Sep 28, 2026 was 1,383 KRW. Our model-based fair value is 4,149 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hanjoo Light Metal Co., Ltd. right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (2,335 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (2,335 KRW to 5,963 KRW) leaves room in how you read the outcome.

Key figures of Hanjoo Light Metal Co., Ltd.

How large is the market capitalisation of Hanjoo Light Metal Co., Ltd. (198940)?
The market capitalisation of Hanjoo Light Metal Co., Ltd. is 26.9B KRW (≈ $19.8M). 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 Hanjoo Light Metal Co., Ltd. (198940)?
The price-to-sales ratio of Hanjoo Light Metal Co., Ltd. is 0.10 (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 Hanjoo Light Metal Co., Ltd. (198940)?
The net margin of Hanjoo Light Metal Co., Ltd. is −1.1% (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 Hanjoo Light Metal Co., Ltd. (198940)?
The return on equity (ROE) of Hanjoo Light Metal Co., Ltd. is −7.0% (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 Hanjoo Light Metal Co., Ltd. (198940)?
On an EBIT basis the return on assets of Hanjoo Light Metal Co., Ltd. is −0.7% (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 Hanjoo Light Metal Co., Ltd. (198940)?
The operating margin of Hanjoo Light Metal Co., Ltd. is 1.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hanjoo Light Metal Co., Ltd. (198940)?
Revenue at Hanjoo Light Metal Co., Ltd. is growing +1.5% versus a year earlier (3y avg +3.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Hanjoo Light Metal Co., Ltd. (198940) generate?
The free cash flow of Hanjoo Light Metal Co., Ltd. is −5.1B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hanjoo Light Metal Co., Ltd. (198940) carry?
The net debt of Hanjoo Light Metal Co., Ltd. is 84.6B KRW (fiscal year 2025). 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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