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HBL Corporation (452190) Fair Value & Analysis

Industrials · KR · Market cap 81.7B KRW

HC HBL Corporation 452190 · KQ
Price3,850 KRW
Fair Value1,732 KRW
Upside-55.0%
Quality47/100
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Expensive Growth
Solidly profitable · 13.4% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/9)
Moderate moat 45/100
Evidence: Medium Range 1,216 KRW – 2,164 KRW Share as image

Fair value as of: Jul 22, 2026

From 14 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 1,773 KRW to 1,732 KRW (−2.3%) since Jul 11, 2026. Share price +3.1% over the past month.

Below-average quality, and screening another 55% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (2,164 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.
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Price vs Fair Value (3 years)

16,620 KRW 2,790 KRW Fair Value 1,732 KRW Jan 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

31‑month range 2,790 KRW – 16,620 KRW · fair‑value band 1,216 KRW – 2,164 KRW · the 3,850 KRW price screens above the 1,732 KRW fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

HBL Corporation (452190) currently trades at 3,850 KRW, while our model-based Fair Value estimate is 1,732 KRW, implying the stock looks roughly 55.0% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Industrials 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: medium).

Over the trailing twelve months, HBL Corporation generated revenue of 29.8B KRW at a net margin of 13.4%. It earns a return on equity of 13.8%. Net debt stands at 2.5B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 1,216 KRW (bear case) to 2,164 KRW (bull case); at 3,850 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 64% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -55%, 452190 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 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
Highest evidence
Residual Income 1,065 KRW 1,141 KRW 1,292 KRW 76
ROIC Compounder 525.40 KRW 628.28 KRW 718.30 KRW 72
Growth-Adj P/E 1,216 KRW 1,737 KRW 2,259 KRW 68
All 14 models by family
Earnings-Based
Graham-Dodd 692.62 KRW 2,789 KRW 3,793 KRW 54
Lynch FV 695.17 KRW 993.10 KRW 1,291 KRW 50
PEG = 1.0 695.17 KRW 993.10 KRW 1,291 KRW 46
EPV 525.40 KRW 628.28 KRW 718.30 KRW 59
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 53
EV/EBITDA 967.85 KRW 1,321 KRW 1,674 KRW 54
EV/Revenue 654.72 KRW 974.68 KRW 1,295 KRW 43
Asset-Based
NCAV (Graham) 640.13 KRW 857.77 KRW 1,280 KRW 50
Economic Profit
Residual Income 1,065 KRW 1,141 KRW 1,292 KRW 76
ROIC Compounder 525.40 KRW 628.28 KRW 718.30 KRW 72
Growth Earnings
Growth-Adj P/E 1,216 KRW 1,737 KRW 2,259 KRW 68

Widest divergence: Growth Earnings (1,737 KRW) versus Economic Profit (628.28 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 29.8B KRW
Revenue growth (YoY) +691%
Net margin 13.4%
Return on equity 13.8%
Free cash flow −4.2B KRW FY2025
Operating margin 2.7%
More key figures
Net debt 2.5B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 17

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 5
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 61
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 42/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
24.2B KRW
Latest YoY
+30.8%
Avg. growth/yr (3Y) 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.
+5.6%
Revenue +8.3%/yr
FY21 17.6B KRW
FY22 20.6B KRW
FY23 22.7B KRW
FY24 18.5B KRW
FY25 24.2B KRW
Net income +6.6%/yr
FY21 1.9B KRW
FY22 2.1B KRW
FY23 −5.6B KRW
FY24 −2.1B KRW
FY25 2.4B KRW

452190 screens 55% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "HBL Corporation Fair Value". https://www.fairvalue-calculator.com/stock/452190

Peer Group

Specialty Industrial Machinery · 808 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 47 · Below median
Fair Value upside −55% · Below median
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
Revenue growth 691% · Top 25%
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

EV/EBITDA 0.6× · Cheaper 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 0
FUTURE 100 · sector 23
PAST 55 · sector 28
HEALTH 93 · sector 96
DIVIDEND 0 · sector 24

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is HBL Corporation (452190) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 1,732 KRW versus a price of 3,850 KRW, about −55% (overvalued).
What is the fair value of 452190?
Our model-based fair value for HBL Corporation is 1,732 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 3,850 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 revenue of HBL Corporation (452190)?
HBL Corporation reported trailing-twelve-month revenue of about 29.8B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 452190?
The net profit margin of HBL Corporation is about 13.4%, meaning it keeps roughly 13.4% 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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