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HBL Corporation (452190) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of HBL Corporation KRW 1,725, price KRW 4,695, upside -63.3%, quality 47 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? No
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Industrials · KR

HC Some data Sep 24, 2026

HBL Corporation

452190 · KQ

Weakest SetupStrongly overvalued and low quality.

!Fair value 1,725 KRW · Strongly overvalued (−63%)
!Quality 47/100
!Expensive Growth (revenue 3y +5.6 %/yr)
✓Solidly profitable · 13.4% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (5/9)
!Moderate moat 45/100
!Evidence only medium, so the estimate is less certain
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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

16,620 KRW 2,790 KRW Fair Value 1,725 KRW Jan 2024 Sep 2026

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

How to read this chart

33‑month range 2,790 KRW – 16,620 KRW · fair‑value band 1,216 KRW – 2,156 KRW · the 4,695 KRW price screens above the 1,725 KRW fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

HBL Corporation manufactures and sells laser processing equipment and laser solutions in South Korea and internationally. The company provides laser generation, laser beam transmission, and laser processing technologies; and laser application solutions. It also offers laser development, automation systems, and vision systems.

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HBL Corporation manufactures and sells laser processing equipment and laser solutions in South Korea and internationally. The company provides laser generation, laser beam transmission, and laser processing technologies; and laser application solutions. It also offers laser development, automation systems, and vision systems. The company serves automobile, battery, semiconductor, and other industries. HBL Corporation was founded in 1997 and is headquartered in Daejeon, South Korea.

Stock analysis

HBL Corporation (452190) currently trades at 4,695 KRW, while our model-based Fair Value estimate is 1,725 KRW, implying the stock looks roughly 172.3% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 1,737 KRW per share, and 0 of the 14 models we run sit above the 4,695 KRW price.

Bear case: the Economic Profit group reads lowest at 426.64 KRW, and 14 of the 14 models stay below the price. Evidence for this calculation is medium.

Scenario range: 1,216 KRW (bear) to 2,156 KRW (bull), the price of 4,695 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 47/100 (below-average quality), in the Industrials sector.

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

HBL Corporation reported revenue of 24.2B KRW in FY2025 versus 17.6B KRW in FY2021, a compound +8.3%/yr. Reported net income was 2.4B KRW in FY2025, compounding +6.6%/yr from FY2021.

Key figures

Market cap 110B KRW (≈ $80.6M) · P/S ratio 2.74 · Net margin 10.0% · Return on equity 13.8% · Return on assets (EBIT) 2.8% · Operating margin 2.7% · Revenue (TTM) 29.8B KRW · Revenue growth (YoY) +691%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 53% below its 52-week high and 68% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at −63%, 452190 screens richer than that median.

Fair Value models

Bear 1,216 KRW Fair Value 1,725 KRW Bull 2,156 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
Residual Income 956.41 KRW 982.55 KRW 974.14 KRW 73
EPV 371.08 KRW 426.64 KRW 471.73 KRW 71
ROIC Compounder 371.08 KRW 426.64 KRW 471.73 KRW 69
All 14 models by family
Earnings-Based
Graham-Dodd 692.62 KRW 2,789 KRW 3,793 KRW 61
Lynch FV 695.17 KRW 993.10 KRW 1,291 KRW 58
PEG = 1.0 695.17 KRW 993.10 KRW 1,291 KRW 55
EPV 371.08 KRW 426.64 KRW 471.73 KRW 71
Multiples
P/E Multiple 1,604 KRW 2,139 KRW 2,674 KRW 63
P/S Multiple 1,299 KRW 1,732 KRW 2,164 KRW 58
P/B Multiple 1,299 KRW 1,732 KRW 2,164 KRW 55
EV/EBIT 954.17 KRW 1,303 KRW 1,652 KRW 66
EV/EBITDA 967.85 KRW 1,321 KRW 1,674 KRW 67
EV/Revenue 654.72 KRW 974.68 KRW 1,295 KRW 53
Asset-Based
NCAV (Graham) 640.13 KRW 857.77 KRW 1,280 KRW 54
Economic Profit
Residual Income 956.41 KRW 982.55 KRW 974.14 KRW 73
ROIC Compounder 371.08 KRW 426.64 KRW 471.73 KRW 69
Growth Earnings
Growth-Adj P/E 1,216 KRW 1,737 KRW 2,259 KRW 65

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Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 39

Profitability 40
Margins and returns on capital today
Quality Growth 93
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 9
Disciplined investing over empire-building
Low Volatility 42
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 61
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. 42/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+30.8%
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.
+5.6%
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.
+3.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.3%
Dividend (yield on the price)0.0%
Profit margin 2021 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.8% → 8%

452190 screens 172% overvalued. Compare with GE Vernova Inc →

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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.Specialty Industrial Machinery · 827 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside −63% · Bottom 25%
Profitability
Return on equity (TTM) 14% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 3% · Below median
Growth and dividend
Revenue growth 691% · Top 25%
Balance sheet
Debt / equity 0.14× · Above median

Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper

EV/EBITDA 0.6× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 22
PAST (return on equity)55 · sector 28
HEALTH (low debt)93 · sector 95
DIVIDEND (yield)0 · sector 25

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $955.04 $210.47 −78%
SIE SIE €274.80 €150.42 −45%
Eaton Corporation ETN $440.00 $173.12 −61%
Parker-Hannifin Corporation PH $974.98 $494.81 −49%
Cummins Inc CMI $524.65 $359.38 −32%
Illinois Tool Works Inc ITW $273.42 $151.39 −45%
Emerson Electric Co EMR $154.59 $62.15 −60%
AMETEK, Inc AME $245.41 $125.80 −49%
Rockwell Automation, Inc ROK $432.89 $138.24 −68%
Sandvik AB SAND kr 383.50 kr 193.39 −50%

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HBL Corporation · Fair Value
1,725 KRW −172%Fair Value
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Cite: Fair Value Calculator (2026). "HBL Corporation Fair Value". https://www.fairvalue-calculator.com/stock/452190

Frequently asked questions

Is HBL Corporation (452190) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,725 KRW versus a price of 4,695 KRW, about −63% upside (overvalued).
What is the fair value of 452190?
Our model-based fair value for HBL Corporation is 1,725 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 4,695 KRW.
What is the quality score of 452190?
HBL Corporation has a Quality Score of 47/100. 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 HBL Corporation (452190)?
Our model-based price target is the fair value of 1,725 KRW (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 1,216 KRW, optimistic scenario 2,156 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the HBL Corporation stock forecast for 2026?
Our models put fair value at 1,725 KRW, about −63% upside versus a price of 4,695 KRW (overvalued). Cautious scenario 1,216 KRW, optimistic scenario 2,156 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of HBL Corporation (452190)?
HBL Corporation reported trailing-twelve-month revenue of about 29.8B KRW (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of HBL Corporation (452190)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HBL Corporation it is 1,725 KRW per share (as of Sep 24, 2026), against a price of 4,695 KRW. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is HBL Corporation stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 452190 trades above its calculated fair value: price 4,695 KRW, fair value 1,725 KRW, a gap of about −63% (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 452190?
No. The price is what the market pays today (4,695 KRW); the fair value is what the company's own numbers justify (1,725 KRW). For HBL Corporation the two are 2,970 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is HBL Corporation worth?
The market values HBL Corporation at about 110B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 4,695 KRW; our models calculate a fair value of 1,725 KRW per share.
What do the bullish and bearish scenarios say about 452190?
Our models span a range for HBL Corporation: cautious scenario 1,216 KRW, base 1,725 KRW, optimistic 2,156 KRW per share (as of Sep 24, 2026, price 4,695 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of HBL Corporation (452190)?
Balance-sheet figures for HBL Corporation (as of Sep 24, 2026): return on equity 13.8%, debt of 0.14 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 452190 from its 52-week high?
HBL Corporation trades at 4,695 KRW, about 53% below its 52-week high of 10,010 KRW and 68% above the low of 2,795 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,725 KRW is for.
Which stocks are comparable to HBL Corporation?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin 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 HBL Corporation stock attractive at the current price?
The data as of Sep 24, 2026: price 4,695 KRW, calculated fair value 1,725 KRW (−63%), Quality Score 47/100, from 14 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 452190 calculated?
We run HBL Corporation through 14 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 1,725 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 13.0 % above its aggregate fair value. HBL Corporation 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 HBL Corporation (452190)?
The closing price on Sep 23, 2026 was 4,695 KRW. Our model-based fair value is 1,725 KRW, about −63% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HBL Corporation right now?
The price sits above even our optimistic bull case (2,156 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of HBL Corporation

How large is the market capitalisation of HBL Corporation (452190)?
The market capitalisation of HBL Corporation is 110B KRW (≈ $80.6M). 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 HBL Corporation (452190)?
The price-to-sales ratio of HBL Corporation is 2.74 (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 HBL Corporation (452190)?
The net margin of HBL Corporation is 10.0% (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 HBL Corporation (452190)?
The return on equity (ROE) of HBL Corporation is 13.8% (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 HBL Corporation (452190)?
On an EBIT basis the return on assets of HBL Corporation is 2.8% (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 HBL Corporation (452190)?
The operating margin of HBL Corporation is 2.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HBL Corporation (452190)?
Revenue at HBL Corporation is growing +691% versus a year earlier (3y avg +5.6%). 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 HBL Corporation (452190) generate?
The free cash flow of HBL Corporation is −4.2B 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 HBL Corporation (452190) carry?
The net debt of HBL Corporation is 2.5B 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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