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Hyundai Energy Solutions Co Ltd (322000) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Hyundai Energy Solutions Co Ltd KRW 36,727, price KRW 120,100, upside -69.4%, quality 68 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Technology · KR · ISIN KR7322000001

HE Thin data Sep 23, 2026

Hyundai Energy Solutions Co Ltd

322000 · KO

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value 36,727 KRW · Strongly overvalued (−69%)
Quality 68/100
!Weak Growth (revenue 5y +4.5 %/yr)
Solidly profitable · 11.5% net margin (TTM)
!Low debt · negative free cash flow
Ranks above peers (7/8)
!Moderate moat 60/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

244,000 KRW 18,480 KRW Fair Value 36,727 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range 18,480 KRW – 244,000 KRW · fair‑value band 31,994 KRW – 56,239 KRW · the 120,100 KRW price screens above the 36,727 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

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.

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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.

Stock analysis

Hyundai Energy Solutions Co Ltd (322000) currently trades at 120,100 KRW, while our model-based Fair Value estimate is 36,727 KRW, implying the stock looks roughly 227.0% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 176,020 KRW per share, and 3 of the 15 models we run sit above the 120,100 KRW price.

Bear case: the Asset-Based group reads lowest at 24,992 KRW, and 12 of the 15 models stay below the price. Evidence for this calculation is low.

Scenario range: 31,994 KRW (bear) to 56,239 KRW (bull), the price of 120,100 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 68/100 (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.

Hyundai Energy Solutions Co Ltd 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.

Key figures

Market cap 1.9T KRW (≈ $1.3B) · P/S ratio 3.31 · Net margin 8.5% · Return on equity 16.1% · Return on assets (EBIT) 5.5% · Operating margin 18.2% · Revenue (TTM) 567B KRW · Revenue growth (YoY) +87.6%.

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 51% below its 52-week high and 167% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −69%, 322000 screens richer than that median.

Fair Value models

Bear 31,994 KRW Fair Value 36,727 KRW Bull 56,239 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.
Highest evidence
EPV 35,071 KRW 40,917 KRW 46,113 KRW 74
ROIC Compounder 35,071 KRW 47,061 KRW 63,105 KRW 69
Owner Earnings 55,241 KRW 126,823 KRW 283,816 KRW 67
All 15 models by family
DCF Models
Owner Earnings 55,241 KRW 126,823 KRW 283,816 KRW 67
Earnings-Based
Graham-Dodd 25,304 KRW 176,464 KRW 247,641 KRW 61
Lynch FV 83,666 KRW 119,523 KRW 155,380 KRW 59
PEG = 1.0 83,666 KRW 119,523 KRW 155,380 KRW 55
EPV 35,071 KRW 40,917 KRW 46,113 KRW 74
Multiples
P/E Multiple 78,144 KRW 104,192 KRW 130,240 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 68,196 KRW 90,280 KRW 112,364 KRW 66
EV/EBITDA 66,654 KRW 88,223 KRW 109,792 KRW 67
EV/Revenue 35,439 KRW 49,793 KRW 64,148 KRW 54
Asset-Based
NCAV (Graham) 18,651 KRW 24,992 KRW 37,302 KRW 54
Economic Profit
Residual Income 33,288 KRW 37,262 KRW 68,146 KRW 66
ROIC Compounder 35,071 KRW 47,061 KRW 63,105 KRW 69
Growth Earnings
Growth-Adj P/E 123,214 KRW 176,020 KRW 228,826 KRW 65

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Quality Score breakdown

Overall quality 68/100

Of which business quality 62 · Market factors (momentum, volatility) 48

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 52
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 82
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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+16.6%
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.
−20.6%
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.
+4.5%
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.
+55.5%
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.
+22.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+22.9%
Dividend (yield on the price)0.0%
Profit margin 2019 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.5% → 8%

322000 screens 227% overvalued. Compare with First Solar, Inc →

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Peer GroupHow 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.Solar · 115 stocks

Beats the industry median on 7/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 68 · Top 25%
Fair Value upside −69% · Bottom 25%
Profitability
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%
Growth and dividend
Revenue growth 88% · Top 25%
Balance sheet
Debt / equity 0.04× · Lowest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 21
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)64 · sector 0
HEALTH (low debt)98 · sector 81
DIVIDEND (yield)0 · sector 30

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

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

Similar stocks

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

Stock Price Fair Value vs Fair Value
First Solar, Inc FSLR $200.78 $392.12 +95%
Nextpower Inc NXT $82.52 $90.77 +10%
Tongwei Co 600438 ¥11.72 ¥12.13 +3%
Waaree Energies Limited WAAREEENER ₹2,495 ₹2,709 +9%
Jinko Solar Co 688223 ¥3.88 ¥6.47 +67%
Enphase Energy, Inc ENPH $34.42 $24.15 −30%
CSI Solar Co 688472 ¥8.60 ¥4.91 −43%
Hengdian Group 002056 ¥20.33 ¥31.86 +57%
Premier Energies Limited PREMIERENE ₹907.20 ₹648.94 −28%
Trina Solar Co 688599 ¥11.14 ¥32.70 +194%

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

Frequently asked questions

Is Hyundai Energy Solutions Co Ltd (322000) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 36,727 KRW versus a price of 120,100 KRW, about −69% upside (overvalued).
What is the fair value of 322000?
Our model-based fair value for Hyundai Energy Solutions Co Ltd is 36,727 KRW (as of Sep 23, 2026), built from audited fundamentals. The current price: 120,100 KRW.
What is the quality score of 322000?
Hyundai Energy Solutions Co Ltd 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 price target for Hyundai Energy Solutions Co Ltd (322000)?
Our model-based price target is the fair value of 36,727 KRW (as of Sep 23, 2026) from 15 valuation models. Cautious scenario 31,994 KRW, optimistic scenario 56,239 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hyundai Energy Solutions Co Ltd stock forecast for 2026?
Our models put fair value at 36,727 KRW, about −69% upside versus a price of 120,100 KRW (overvalued). Cautious scenario 31,994 KRW, optimistic scenario 56,239 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hyundai Energy Solutions Co Ltd (322000)?
Hyundai Energy Solutions Co Ltd reported trailing-twelve-month revenue of about 567B KRW (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Hyundai Energy Solutions Co Ltd (322000)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hyundai Energy Solutions Co Ltd it is 36,727 KRW per share (as of Sep 23, 2026), against a price of 120,100 KRW. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Hyundai Energy Solutions Co Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 322000 trades above its calculated fair value: price 120,100 KRW, fair value 36,727 KRW, a gap of about −69% (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 322000?
No. The price is what the market pays today (120,100 KRW); the fair value is what the company's own numbers justify (36,727 KRW). For Hyundai Energy Solutions Co Ltd the two are 83,373 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hyundai Energy Solutions Co Ltd worth?
The market values Hyundai Energy Solutions Co Ltd at about 1.9T KRW (market capitalisation, as of Sep 23, 2026). Per share that is 120,100 KRW; our models calculate a fair value of 36,727 KRW per share.
What do the bullish and bearish scenarios say about 322000?
Our models span a range for Hyundai Energy Solutions Co Ltd: cautious scenario 31,994 KRW, base 36,727 KRW, optimistic 56,239 KRW per share (as of Sep 23, 2026, price 120,100 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hyundai Energy Solutions Co Ltd (322000)?
Balance-sheet figures for Hyundai Energy Solutions Co Ltd (as of Sep 23, 2026): return on equity 16.1%, debt of 0.04 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is 322000 from its 52-week high?
Hyundai Energy Solutions Co Ltd trades at 120,100 KRW, about 51% below its 52-week high of 244,000 KRW and 167% above the low of 45,000 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 36,727 KRW is for.
Which stocks are comparable to Hyundai Energy Solutions Co Ltd?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies 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 Hyundai Energy Solutions Co Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price 120,100 KRW, calculated fair value 36,727 KRW (−69%), Quality Score 68/100, from 15 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 322000 calculated?
We run Hyundai Energy Solutions Co Ltd through 15 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 36,727 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. Hyundai Energy Solutions Co Ltd 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 Hyundai Energy Solutions Co Ltd (322000)?
The closing price on Sep 23, 2026 was 120,100 KRW. Our model-based fair value is 36,727 KRW, about −69% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hyundai Energy Solutions Co Ltd right now?
The price sits above even our optimistic bull case (56,239 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 (68/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Hyundai Energy Solutions Co Ltd

How large is the market capitalisation of Hyundai Energy Solutions Co Ltd (322000)?
The market capitalisation of Hyundai Energy Solutions Co Ltd is 1.9T KRW (≈ $1.3B). 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 Hyundai Energy Solutions Co Ltd (322000)?
The price-to-sales ratio of Hyundai Energy Solutions Co Ltd is 3.31 (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 Hyundai Energy Solutions Co Ltd (322000)?
The net margin of Hyundai Energy Solutions Co Ltd is 8.5% (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 Hyundai Energy Solutions Co Ltd (322000)?
The return on equity (ROE) of Hyundai Energy Solutions Co Ltd is 16.1% (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 Hyundai Energy Solutions Co Ltd (322000)?
On an EBIT basis the return on assets of Hyundai Energy Solutions Co Ltd is 5.5% (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 Hyundai Energy Solutions Co Ltd (322000)?
The operating margin of Hyundai Energy Solutions Co Ltd is 18.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hyundai Energy Solutions Co Ltd (322000)?
Revenue at Hyundai Energy Solutions Co Ltd is growing +87.6% versus a year earlier (3y avg −20.6%). 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 Hyundai Energy Solutions Co Ltd (322000)?
Earnings per share at Hyundai Energy Solutions Co Ltd are growing +148% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hyundai Energy Solutions Co Ltd (322000) generate?
The free cash flow of Hyundai Energy Solutions Co Ltd is −866M KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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