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Hanwha Galleria Corporation (452260) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 375B KRW

HG Hanwha Galleria Corporation 452260 · KO
Price2,090 KRW
Fair Value376.10 KRW
Upside-82.0%
Quality39/100
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Healthy Growth
Thin margins · 1.2% net margin
Low debt · generates free cash flow
Trails peers (2/9)
Narrow moat 26/100
Evidence: Medium Range 247.64 KRW – 470.13 KRW Share as image

Fair value as of: Jul 24, 2026

From 23 valuation models · updated 17 days ago

Share price +1.2% over the past month.

Below-average quality, and screening another 82% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (470.13 KRW). The favourable scenario is already priced in.
  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (247.64 KRW to 470.13 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

3,640 KRW 1,005 KRW Fair Value 376.10 KRW Mar 2023 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

40‑month range 1,005 KRW – 3,640 KRW · fair‑value band 247.64 KRW – 470.13 KRW · the 2,090 KRW price screens above the 376.10 KRW fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

Hanwha Galleria Corporation (452260) currently trades at 2,090 KRW, while our model-based Fair Value estimate is 376.10 KRW, implying the stock looks roughly 82.0% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Consumer Cyclical 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, Hanwha Galleria Corporation generated revenue of 572B KRW at a net margin of 1.2%. Revenue declined 2.4% year over year. It earns a return on equity of 0.8%. Net debt stands at 221B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 247.64 KRW (bear case) to 470.13 KRW (bull case); at 2,090 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 49% below its 52-week high and 109% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 50% fair-value upside, at -82%, 452260 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (180.19 KRW to 4,591 KRW). Read the values as a conservative anchor, not as a price target.
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
Growth DCF 351.65 KRW 762.65 KRW 1,487 KRW 80
Rev-Margin DCF 274.57 KRW 599.74 KRW 1,009 KRW 74
ROIC Compounder 189.49 KRW 257.23 KRW 317.44 KRW 72
All 23 models by family
DCF Models
FCF DCF 350.41 KRW 780.06 KRW 1,538 KRW 38
5Y Revenue Exit 274.57 KRW 605.50 KRW 1,047 KRW 39
5Y EBITDA Exit 2,233 KRW 4,549 KRW 7,457 KRW 41
5Y P/E Exit 154.06 KRW 362.90 KRW 592.44 KRW 38
10Y Revenue Exit 280.09 KRW 604.43 KRW 1,084 KRW 36
10Y EBITDA Exit 1,611 KRW 3,521 KRW 6,451 KRW 37
10Y P/E Exit 214.55 KRW 424.98 KRW 703.90 KRW 35
Earnings-Based
Graham-Dodd 116.25 KRW 494.45 KRW 675.18 KRW 54
Lynch FV 126.13 KRW 180.19 KRW 234.24 KRW 50
PEG = 1.0 126.13 KRW 180.19 KRW 234.24 KRW 46
EPV 189.49 KRW 257.23 KRW 317.44 KRW 59
Multiples
P/E Multiple 282.08 KRW 376.10 KRW 470.13 KRW 63
P/S Multiple 217.97 KRW 290.62 KRW 363.28 KRW 58
P/B Multiple 217.97 KRW 290.62 KRW 363.28 KRW 55
EV/EBIT 461.59 KRW 680.24 KRW 898.89 KRW 53
EV/EBITDA 3,395 KRW 4,591 KRW 5,788 KRW 54
EV/Revenue 247.80 KRW 437.30 KRW 626.79 KRW 43
Asset-Based
NCAV (Graham) 2,128 KRW 2,851 KRW 4,256 KRW 50
Growth DCF
Growth DCF 351.65 KRW 762.65 KRW 1,487 KRW 80
Rev-Margin DCF 274.57 KRW 599.74 KRW 1,009 KRW 74
Economic Profit
Residual Income 2,899 KRW 2,667 KRW 1,899 KRW 61
ROIC Compounder 189.49 KRW 257.23 KRW 317.44 KRW 72
Growth Earnings
Growth-Adj P/E 218.32 KRW 311.89 KRW 405.45 KRW 68

Widest divergence: Asset-Based (2,851 KRW) versus Earnings-Based (180.19 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 572B KRW
Revenue growth (YoY) -2.4%
Net margin 1.2%
Return on equity 0.8%
Free cash flow 8.0B KRW FY2025
Operating margin 9.8%
More key figures
Net debt 221B KRW FY2025

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

Quality Score breakdown

Overall quality 39/100

Of which business quality 40 · Market factors (momentum, volatility) 41

Profitability 19
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 43
Disciplined investing over empire-building
Low Volatility 3
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 80
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

Hanwha Galleria Corporation operates luxury department stores in South Korea. It operates department stores under the Gwanggyo store, Luxury Hall East, Time World, Luxury Hall West, Centercity, and Jinju brand names.

Full company description

Hanwha Galleria Corporation operates luxury department stores in South Korea. It operates department stores under the Gwanggyo store, Luxury Hall East, Time World, Luxury Hall West, Centercity, and Jinju brand names. The company also offers men's clothing, shoes, bags, tailormade items, and accessories under the g.street494 homme brand; and luxurious menswear under the Stefano Ricci brand name. In addition, it operates a store under the Gourmet 494 brand that offers organic food, groceries, food and beverages, organic rice, sesame oil/perilla oil, organic sesame oil/perilla oil, soybean, pyeongEggs, organic grass-fed milk, and fermented vinegar; and a winery under the Vino 494 Classic brand name. Hanwha Galleria Corporation was formerly known as Hanwha Stores Co., Ltd. and changed its name to Hanwha Galleria Corporation in 2007. The company was founded in 1975 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2023 – FY2025 · reported fiscal years

Hanwha Galleria Corporation reported revenue of 575B KRW in FY2025 versus 434B KRW in FY2023, a compound +15.1%/yr. Reported net income was 3.3B KRW in FY2025.

Growth Quality 68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
575B KRW
Latest YoY
+6.8%
Revenue +15.1%/yr
FY23 434B KRW
FY24 538B KRW
FY25 575B KRW
Net income
FY23 −30.1B KRW
FY24 −17.5B KRW
FY25 3.3B KRW

452260 screens 82% overvalued. Compare with Falabella S.A →

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Cite: Fair Value Calculator (2026). "Hanwha Galleria Corporation Fair Value". https://www.fairvalue-calculator.com/stock/452260

Peer Group

Department Stores · 127 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 39 · Bottom 25%
Fair Value upside −82% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 10% · Above median
Revenue growth -2% · Below median
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Department Stores median · lower = cheaper

P/FCF 0.0× · 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 26
FUTURE 0 · sector 2
PAST 3 · sector 16
HEALTH 94 · sector 96
DIVIDEND 0 · sector 37

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 Department Stores stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Falabella S.A FALABELLA 5,875 CLP 8,880 CLP +51%
El Puerto de Liverpool, S.A. LIVEPOLC1 99.62 MXN 263.70 MXN +165%
99 Speed Mart Retail Holdings 5326 3.70 MYR 1.45 MYR -61%
Cencosud S.A CENCOSUD 2,040 CLP 2,516 CLP +23%
Vishal Mega Mart Limited VMM ₹113.94 ₹37.39 -67%
SHINSEGAE Inc 004170 610,000 KRW 200,259 KRW -67%
Organización Soriana, S. A. B. de C. V., SORIANAB 30.04 MXN 59.59 MXN +98%
Lotte Shopping Co 023530 155,300 KRW 81,725 KRW -47%
Lojas Renner S.A LREN3 R$14.10 R$33.36 +137%
La Comer, S.A. LACOMERUBC 34.37 MXN 51.49 MXN +50%

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Frequently asked questions

Is Hanwha Galleria Corporation (452260) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 376.10 KRW versus a price of 2,090 KRW, about −82% (overvalued).
What is the fair value of 452260?
Our model-based fair value for Hanwha Galleria Corporation is 376.10 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 2,090 KRW.
What is the quality score of 452260?
Hanwha Galleria Corporation has a Quality Score of 39/100. 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 Hanwha Galleria Corporation (452260)?
Hanwha Galleria Corporation reported trailing-twelve-month revenue of about 572B KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 452260?
The net profit margin of Hanwha Galleria Corporation is about 1.2%, meaning it keeps roughly 1.2% 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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