Hpsp Co Ltd (403870) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hpsp Co Ltd stock KRW 35,881, price KRW 33,350, upside +7.6%, quality 72 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
52‑month range 10,333 KRW – 83,500 KRW · fair‑value band 24,997 KRW – 50,261 KRW · the 33,350 KRW price screens below the 35,881 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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HPSP Co., Ltd. manufactures and sells high pressure annealing semiconductor equipment for the semiconductor industry in South Korea. It offers GENI-SYS, a high-pressure hydrogen annealing equipment; and GENI and GENI-SE. The company also provides after-sales service for products; and sells parts.
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HPSP Co., Ltd. was founded in 2005 and is headquartered in Hwaseong-si, South Korea.
Stock analysis
Hpsp Co Ltd (403870) currently trades at 33,350 KRW, while our model-based Fair Value estimate is 35,881 KRW, so the stock looks roughly fairly valued today (gap 7.1%).
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Valuation
Bull case: the Multiples group reads highest at a median of 22,319 KRW per share, and 0 of the 26 models we run sit above the 33,350 KRW price.
Bear case: the Dividend Discount group reads lowest at 7,454 KRW, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 24,997 KRW (bear) to 50,261 KRW (bull), the price of 33,350 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 72/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hpsp Co Ltd reported revenue of 173B KRW in FY2025 versus 91.8B KRW in FY2021, a compound +17.2%/yr. Reported net income was 72.7B KRW in FY2025, compounding +19.7%/yr from FY2021.
Key figures
Market cap 2.7T KRW (≈ $2.0B) Mid · P/E ratio 32.1 · P/S ratio 16.7 · EPS (TTM) 1,053 KRW · Dividend yield 1.5% · Net margin 52.7% · Return on equity 29.4% · Return on assets (EBIT) 33.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 92 out of 100 (low confidence).
What moves the price
The share trades about 60% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at 8%, 403870 screens cheaper than that median.
Fair Value models
Bear24,997 KRWFair Value 35,881 KRWBull50,261 KRW
Price 33,350 KRW · Upside +7.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (552.91 KRW per share) are deliberately not added.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.Coverage ⓘCoverage = 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.94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.7%
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.
+2.8%
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.
+23.1%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
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.
+23.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+21.6%
Dividend (yield on the price)1.5%
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.41% → 52%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than 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).
+19.0%
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.
+44.2%
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 +16.6% a year for the price and +41.3% 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 · 235 stocks
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). "Hpsp Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/403870
Frequently asked questions
Is Hpsp Co Ltd (403870) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 35,881 KRW versus a price of 33,350 KRW, about +8% upside (fairly valued).
What is the fair value of 403870?
Our model-based fair value for Hpsp Co Ltd is 35,881 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 33,350 KRW.
What is the quality score of 403870?
Hpsp Co Ltd has a Quality Score of 72/100. 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 Hpsp Co Ltd (403870)?
Our model-based price target is the fair value of 35,881 KRW (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 24,997 KRW, optimistic scenario 50,261 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hpsp Co Ltd stock forecast for 2026?
Our models put fair value at 35,881 KRW, about +8% upside versus a price of 33,350 KRW (fairly valued). Cautious scenario 24,997 KRW, optimistic scenario 50,261 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hpsp Co Ltd (403870)?
Hpsp Co Ltd reported trailing-twelve-month revenue of about 163B KRW (latest available figure, as of Nov 8, 2026).
Does Hpsp Co Ltd pay a dividend?
Hpsp Co Ltd currently shows a dividend yield of 1.50% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Hpsp Co Ltd (403870) and when is the ex-dividend date?
Hpsp Co Ltd pays a dividend of 500.00 KRW per share a year, a dividend yield of 1.5%. The last ex-dividend date was Dec 29, 2025. The payout ratio is 47.5% of earnings. Free cash flow covers the dividend 2.40 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Hpsp Co Ltd (403870)?
For today's price to be fair in a discounted-cash-flow model, Hpsp Co Ltd would have to grow free cash flow by +19.0 % per year for five years (discount rate 11.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 403870 use?
Our models discount Hpsp Co Ltd at 11.5 %: a base by market capitalisation (mid), damped by beta 1.55, 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 Hpsp Co Ltd that is +19.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.5 %) and the same formula as our fair value.
How much growth has Hpsp Co Ltd (403870) delivered so far?
Over the past 5 years revenue at Hpsp Co Ltd grew +23.1 % a year. The price currently implies free-cash-flow growth of +19.0 % per 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 Hpsp Co Ltd (403870) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Hpsp Co Ltd (+19.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hpsp Co Ltd (403870)?
The free-cash-flow yield on the price is 3.61 %: that much free cash flow Hpsp Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hpsp Co Ltd (403870)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hpsp Co Ltd it is 35,881 KRW per share (as of Nov 8, 2026), against a price of 33,350 KRW. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Hpsp Co Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 403870 trades below its calculated fair value: price 33,350 KRW, fair value 35,881 KRW, a gap of about +8% (fairly valued). 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 403870?
No. The price is what the market pays today (33,350 KRW); the fair value is what the company's own numbers justify (35,881 KRW). For Hpsp Co Ltd the two are 2,531 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hpsp Co Ltd worth?
The market values Hpsp Co Ltd at about 2.7T KRW (market capitalisation, as of Nov 8, 2026). Per share that is 33,350 KRW; our models calculate a fair value of 35,881 KRW per share.
What do the bullish and bearish scenarios say about 403870?
Our models span a range for Hpsp Co Ltd: cautious scenario 24,997 KRW, base 35,881 KRW, optimistic 50,261 KRW per share (as of Nov 8, 2026, price 33,350 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 403870?
Hpsp Co Ltd trades at a price-to-earnings ratio of 32.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 35,881 KRW is built from several models across several years. Other multiples: P/B 8.8, P/S 16.7, EV/EBITDA 28.6.
How solid is the balance sheet of Hpsp Co Ltd (403870)?
Balance-sheet figures for Hpsp Co Ltd (as of Nov 8, 2026): return on equity 29.4%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 403870 from its 52-week high?
Hpsp Co Ltd trades at 33,350 KRW, about 60% below its 52-week high of 83,500 KRW and 20% above the low of 27,695 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 35,881 KRW is for.
Which stocks are comparable to Hpsp Co Ltd?
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 Hpsp Co Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price 33,350 KRW, calculated fair value 35,881 KRW (+8%), Quality Score 72/100, from 26 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 403870 calculated?
We run Hpsp Co Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 35,881 KRW builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Hpsp Co Ltd currently trades 7% 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 Hpsp Co Ltd (403870)?
The closing price on Nov 6, 2026 was 33,350 KRW. Our model-based fair value is 35,881 KRW, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hpsp Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (24,997 KRW to 50,261 KRW) leaves room in how you read the outcome.
Key figures of Hpsp Co Ltd
How large is the market capitalisation of Hpsp Co Ltd (403870)?
The market capitalisation of Hpsp Co Ltd is 2.7T KRW (≈ $2.0B). 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 Hpsp Co Ltd (403870)?
The price-to-sales ratio of Hpsp Co Ltd is 16.7 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hpsp Co Ltd (403870)?
Earnings per share at Hpsp Co Ltd are 1,053 KRW (price ÷ EPS = P/E 32.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hpsp Co Ltd (403870)?
The dividend yield of Hpsp Co Ltd is 1.5% (payout 47.5%). 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 Hpsp Co Ltd (403870)?
The net margin of Hpsp Co Ltd is 52.7% (last twelve months). 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 Hpsp Co Ltd (403870)?
The return on equity (ROE) of Hpsp Co Ltd is 29.4% (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 Hpsp Co Ltd (403870)?
On an EBIT basis the return on assets of Hpsp Co Ltd is 33.1% (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 Hpsp Co Ltd (403870)?
The operating margin of Hpsp Co Ltd is 61.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hpsp Co Ltd (403870)?
Revenue at Hpsp Co Ltd is growing −10.2% versus a year earlier (3y avg +2.8%). 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 Hpsp Co Ltd (403870)?
Earnings per share at Hpsp Co Ltd are growing +16.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 8, 2026