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HD Hyundai Energy Solutions Co (322000) Fair Value & Analysis

Technology · KR · Market cap 1.9T KRW

HH HD Hyundai Energy Solutions Co 322000 · KO
Price127,800 KRW
Fair Value64,257 KRW
Upside-49.7%
Quality68/100
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Expensive Growth
Solidly profitable · 11.5% net margin
Low debt · negative free cash flow
Ranks above peers (7/8)
Moderate moat 60/100
Evidence: High Range 33,929 KRW – 79,835 KRW Share as image

Fair value as of: Jul 24, 2026

From 17 valuation models · updated 17 days ago

Share price +21.3% over the past month.

A solid business, but screening 50% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (79,835 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (33,929 KRW to 79,835 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

244,000 KRW 18,480 KRW Fair Value 64,257 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 18,480 KRW – 244,000 KRW · fair‑value band 33,929 KRW – 79,835 KRW · the 127,800 KRW price screens above the 64,257 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

Full chart & analysis →

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Analysis

HD Hyundai Energy Solutions Co (322000) currently trades at 127,800 KRW, while our model-based Fair Value estimate is 64,257 KRW, implying the stock looks roughly 49.7% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, HD Hyundai Energy Solutions Co generated revenue of 567B KRW at a net margin of 11.5%. Revenue grew 87.6% year over year. It earns a return on equity of 16.1%. Fundamentals as of Jul 24, 2026

Our scenario range runs from 33,929 KRW (bear case) to 79,835 KRW (bull case); at 127,800 KRW, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 50% below its 52-week high and 209% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -7% fair-value upside, at -50%, 322000 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income 33,217 KRW 37,260 KRW 72,289 KRW 76
ROIC Compounder 35,071 KRW 47,061 KRW 63,105 KRW 72
Gordon GGM 5,771 KRW 12,600 KRW 21,200 KRW 70
All 17 models by family
DCF Models
Owner Earnings 54,760 KRW 125,695 KRW 281,271 KRW 31
Earnings-Based
Graham-Dodd 25,304 KRW 176,464 KRW 247,641 KRW 54
Lynch FV 83,666 KRW 119,523 KRW 155,380 KRW 50
PEG = 1.0 83,666 KRW 119,523 KRW 155,380 KRW 46
EPV 35,071 KRW 40,917 KRW 46,113 KRW 59
Dividend Discount
Gordon GGM 5,771 KRW 12,600 KRW 21,200 KRW 70
DDM Multi-Stage 5,771 KRW 10,321 KRW 13,131 KRW 61
Multiples
P/E Multiple 55,817 KRW 74,423 KRW 93,028 KRW 63
P/S Multiple 47,444 KRW 63,259 KRW 79,074 KRW 58
P/B Multiple 47,444 KRW 63,259 KRW 79,074 KRW 55
EV/EBIT 51,634 KRW 68,196 KRW 84,759 KRW 53
EV/EBITDA 48,679 KRW 64,257 KRW 79,835 KRW 54
EV/Revenue 35,439 KRW 49,793 KRW 64,148 KRW 43
Asset-Based
NCAV (Graham) 18,651 KRW 24,992 KRW 37,302 KRW 50
Economic Profit
Residual Income 33,217 KRW 37,260 KRW 72,289 KRW 76
ROIC Compounder 35,071 KRW 47,061 KRW 63,105 KRW 72
Growth Earnings
Growth-Adj P/E 109,524 KRW 156,463 KRW 203,402 KRW 68

Widest divergence: Growth Earnings (156,463 KRW) versus Dividend Discount (10,321 KRW). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 567B KRW
Revenue growth (YoY) +87.6%
Net margin 11.5%
Return on equity 16.1%
Free cash flow −866M KRW FY2025
Operating margin 18.2%
More key figures
EPS growth (YoY) +148%

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 62 · Market factors (momentum, volatility) 56

Profitability 49
Margins and returns on capital today
Quality Growth 84
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

HD Hyundai Energy Solutions Co.,Ltd. provides solar cells and modules. It offers monofacial, bifacial, and shingled PV modules; transformer-less and outdoor box inverters; and ground, floating, and agro PV solutions, as well as smart solar city. HD Hyundai Energy Solutions Co.,Ltd.

Full company description

HD Hyundai Energy Solutions Co.,Ltd. provides solar cells and modules. It offers monofacial, bifacial, and shingled PV modules; transformer-less and outdoor box inverters; and ground, floating, and agro PV solutions, as well as smart solar city. HD Hyundai Energy Solutions Co.,Ltd. was formerly known as Hyundai Energy Solutions Co.,Ltd and changed its name to HD Hyundai Energy Solutions Co.,Ltd. in April 2023. HD Hyundai Energy Solutions Co.,Ltd. was founded in 2004 and is based in Seongnam-si, South Korea. HD Hyundai Energy Solutions Co.,Ltd. operates as a subsidiary of HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HD Hyundai Energy Solutions Co reported revenue of 493B KRW in FY2025 versus 593B KRW in FY2021, a compound −4.5%/yr. Reported net income was 41.7B KRW in FY2025.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
493B KRW
Latest YoY
+16.6%
Avg. growth/yr (3Y)
−20.6%
Avg. growth/yr (5Y)
+4.5%
Avg. growth/yr (9Y)
+55.5%
Revenue −4.5%/yr
FY21 593B KRW
FY22 985B KRW
FY23 546B KRW
FY24 422B KRW
FY25 493B KRW
Net income
FY21 −6.7B KRW
FY22 60.6B KRW
FY23 −2.9B KRW
FY24 114M KRW
FY25 41.7B KRW

322000 screens 50% overvalued. Compare with First Solar, Inc →

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Cite: Fair Value Calculator (2026). "HD Hyundai Energy Solutions Co Fair Value". https://www.fairvalue-calculator.com/stock/322000

Peer Group

Solar · 119 stocks

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.

Quality Score 68 · Top 25%
Fair Value upside −50% · Below median
Return on equity (TTM) 16% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 88% · Top 25%
Debt / equity 0.04× · Lower than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 22
FUTURE 100 · sector 0
PAST 64 · sector 0
HEALTH 98 · sector 85
DIVIDEND 0 · sector 14

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Solar stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
First Solar, Inc FSLR $221.03 $284.45 +29%
Nextpower Inc NXT $111.50 $69.61 -38%
Waaree Energies Limited WAAREEENER ₹2,923 ₹3,613 +24%
Tongwei Co 600438 ¥13.08 ¥12.13 -7%
Jinko Solar Co 688223 ¥4.39 ¥4.75 +8%
Hengdian Group 002056 ¥21.64 ¥22.76 +5%
CSI Solar Co 688472 ¥10.11 ¥7.01 -31%
Enphase Energy, Inc ENPH $44.83 $22.20 -50%
Premier Energies Limited PREMIERENE ₹1,086 ₹912.32 -16%
Trina Solar Co 688599 ¥12.98 ¥7.97 -39%

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Frequently asked questions

Is HD Hyundai Energy Solutions Co (322000) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 64,257 KRW versus a price of 127,800 KRW, about −50% (overvalued).
What is the fair value of 322000?
Our model-based fair value for HD Hyundai Energy Solutions Co is 64,257 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 127,800 KRW.
What is the quality score of 322000?
HD Hyundai Energy Solutions Co has a Quality Score of 68/100. 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 revenue of HD Hyundai Energy Solutions Co (322000)?
HD Hyundai Energy Solutions Co reported trailing-twelve-month revenue of about 567B KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 322000?
The net profit margin of HD Hyundai Energy Solutions Co is about 11.5%, meaning it keeps roughly 11.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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