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Hanwha Galleria Corp. (452260) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Hanwha Galleria Corp. KRW 376, price KRW 2,765, upside -86.4%, quality 39 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
  3. Add to watchlist

Consumer Cyclical · KR · ISIN KR7452260003

HG Thin data Sep 24, 2026

Hanwha Galleria Corp.

452260 · KO

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

Weakest SetupStrongly overvalued and low quality.

!Fair value 376.10 KRW · Strongly overvalued (−86%)
!Quality 39/100
✓Healthy Growth (revenue YoY +6.8 %/yr)
!Thin margins · 1.2% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers (2/9)
!Narrow moat 26/100
!Evidence only low, so the estimate is less certain
!Weak on past: 3 out of 100
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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

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

42‑month range 1,005 KRW – 3,640 KRW · fair‑value band 282.08 KRW – 470.13 KRW · the 2,765 KRW price screens above the 376.10 KRW fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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.

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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.

Stock analysis

Hanwha Galleria Corp. (452260) currently trades at 2,765 KRW, while our model-based Fair Value estimate is 376.10 KRW, implying the stock looks roughly 635.3% overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 2,851 KRW per share, and 4 of the 24 models we run sit above the 2,765 KRW price.

Bear case: the Economic Profit group reads lowest at 112.73 KRW, and 20 of the 24 models stay below the price. Evidence for this calculation is low.

Scenario range: 282.08 KRW (bear) to 470.13 KRW (bull), the price of 2,765 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 39/100 (below-average quality), in the Consumer Cyclical sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Hanwha Galleria Corp. 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.

Key figures

Market cap 536B KRW (≈ $394M) · P/S ratio 0.65 · Net margin 0.6% · Return on equity 0.8% · Return on assets (EBIT) 0.4% · Operating margin 9.8% · Revenue (TTM) 572B KRW · Revenue growth (YoY) −2.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 24% below its 52-week high and 166% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −86%, 452260 screens richer than that median.

Fair Value models

Bear 282.08 KRW Fair Value 376.10 KRW Bull 470.13 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
FCF DCF 1,262 KRW 2,045 KRW 3,132 KRW 72
EPV 79.82 KRW 112.73 KRW 139.43 KRW 71
Growth DCF 1,242 KRW 1,930 KRW 2,824 KRW 71
All 24 models by family
DCF Models
FCF DCF 1,262 KRW 2,045 KRW 3,132 KRW 72
Owner Earnings 925.44 KRW 1,527 KRW 2,363 KRW 68
5Y Revenue Exit 657.57 KRW 1,008 KRW 1,437 KRW 66
5Y EBITDA Exit 2,296 KRW 4,298 KRW 6,778 KRW 66
5Y P/E Exit 556.77 KRW 805.38 KRW 1,059 KRW 65
10Y Revenue Exit 887.99 KRW 1,268 KRW 1,771 KRW 61
10Y EBITDA Exit 1,819 KRW 3,299 KRW 5,495 KRW 60
10Y P/E Exit 842.13 KRW 1,143 KRW 1,507 KRW 59
Earnings-Based
Graham-Dodd 116.25 KRW 494.45 KRW 675.18 KRW 58
Lynch FV 126.13 KRW 180.19 KRW 234.24 KRW 55
PEG = 1.0 126.13 KRW 180.19 KRW 234.24 KRW 52
EPV 79.82 KRW 112.73 KRW 139.43 KRW 71
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 65
EV/EBITDA 3,395 KRW 4,591 KRW 5,788 KRW 67
EV/Revenue 247.80 KRW 437.30 KRW 626.79 KRW 52
Asset-Based
NCAV (Graham) 2,128 KRW 2,851 KRW 4,256 KRW 54
Growth DCF
Growth DCF 1,242 KRW 1,930 KRW 2,824 KRW 71
Rev-Margin DCF 657.57 KRW 1,026 KRW 1,494 KRW 65
Economic Profit
Residual Income 2,560 KRW 2,246 KRW 1,330 KRW 64
ROIC Compounder 79.82 KRW 112.73 KRW 139.43 KRW 65
Growth Earnings
Growth-Adj P/E 218.32 KRW 311.89 KRW 405.45 KRW 61

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Quality Score breakdown

Overall quality 39/100

Of which business quality 40 · Market factors (momentum, volatility) 58

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 80
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 80
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. 68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+56.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +53.7% a year for the price.

452260 screens 635% overvalued. Compare with Falabella S.A →

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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.Department Stores · 119 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −86% · Bottom 25%
Profitability
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
Growth and dividend
Revenue growth −2% · Below median
Balance sheet
Debt / equity 0.11× · Above median

Valuation Multiplesvs Department Stores median · lower = cheaper

P/FCF 0.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 44
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)3 · sector 16
HEALTH (low debt)94 · sector 95
DIVIDEND (yield)0 · sector 46

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 Department Stores stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Falabella S.A FALABELLA 6,639 CLP 8,903 CLP +34%
Dillard's, Inc DDS $650.17 $549.55 −15%
99 Speed Mart Retail Holdings 5326 3.27 MYR 1.52 MYR −54%
Cencosud S.A CENCOSUD 2,029 CLP 2,241 CLP +10%
Macy's, Inc M $22.78 $42.18 +85%
Vishal Mega Mart Limited VMM ₹106.00 ₹93.42 −12%
Central Retail Corporation CRC 30.25 THB 20.89 THB −31%
SHINSEGAE Inc 004170 347,000 KRW 291,388 KRW −16%
Lotte Shopping Co 023530 103,900 KRW 294,937 KRW +184%
POYA International Co 5904 70.80 TWD 77.88 TWD +10%

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Hanwha Galleria Corp. · Fair Value
376.10 KRW −635%Fair Value
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Cite: Fair Value Calculator (2026). "Hanwha Galleria Corp. Fair Value". https://www.fairvalue-calculator.com/stock/452260

Frequently asked questions

Is Hanwha Galleria Corp. (452260) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 376.10 KRW versus a price of 2,765 KRW, about −86% upside (overvalued).
What is the fair value of 452260?
Our model-based fair value for Hanwha Galleria Corp. is 376.10 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,765 KRW.
What is the quality score of 452260?
Hanwha Galleria Corp. 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 price target for Hanwha Galleria Corp. (452260)?
Our model-based price target is the fair value of 376.10 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 282.08 KRW, optimistic scenario 470.13 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hanwha Galleria Corp. stock forecast for 2026?
Our models put fair value at 376.10 KRW, about −86% upside versus a price of 2,765 KRW (overvalued). Cautious scenario 282.08 KRW, optimistic scenario 470.13 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hanwha Galleria Corp. (452260)?
Hanwha Galleria Corp. reported trailing-twelve-month revenue of about 572B KRW (latest available figure, as of Sep 24, 2026).
What growth is priced into Hanwha Galleria Corp. (452260)?
For today's price to be fair in a discounted-cash-flow model, Hanwha Galleria Corp. would have to grow free cash flow by +56.9 % per year for five years (discount rate 15.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 2 years revenue grew +15.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 452260 use?
Our models discount Hanwha Galleria Corp. at 15.5 %: a base by market capitalisation (micro), damped by beta 1.73, 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 Hanwha Galleria Corp. that is +56.9 % per year a year over ten years, using the same discount rate (15.5 %) and the same formula as our fair value.
How much growth has Hanwha Galleria Corp. (452260) delivered so far?
Over the past 2 years revenue at Hanwha Galleria Corp. grew +15.1 % a year. The price currently implies +56.9 % per year free-cash-flow growth a 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 Hanwha Galleria Corp. (452260) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Hanwha Galleria Corp. (+56.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hanwha Galleria Corp. (452260)?
The free-cash-flow yield on the price is 1.49 %: that much free cash flow Hanwha Galleria Corp. produces per unit of market value. When it exceeds the discount rate of our models (15.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hanwha Galleria Corp. (452260)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hanwha Galleria Corp. it is 376.10 KRW per share (as of Sep 24, 2026), against a price of 2,765 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Hanwha Galleria Corp. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 452260 trades above its calculated fair value: price 2,765 KRW, fair value 376.10 KRW, a gap of about −86% (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 452260?
No. The price is what the market pays today (2,765 KRW); the fair value is what the company's own numbers justify (376.10 KRW). For Hanwha Galleria Corp. the two are 2,389 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hanwha Galleria Corp. worth?
The market values Hanwha Galleria Corp. at about 536B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,765 KRW; our models calculate a fair value of 376.10 KRW per share.
What do the bullish and bearish scenarios say about 452260?
Our models span a range for Hanwha Galleria Corp.: cautious scenario 282.08 KRW, base 376.10 KRW, optimistic 470.13 KRW per share (as of Sep 24, 2026, price 2,765 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hanwha Galleria Corp. (452260)?
Balance-sheet figures for Hanwha Galleria Corp. (as of Sep 24, 2026): return on equity 0.8%, debt of 0.11 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is 452260 from its 52-week high?
Hanwha Galleria Corp. trades at 2,765 KRW, about 24% below its 52-week high of 3,640 KRW and 166% above the low of 1,038 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 376.10 KRW is for.
Which stocks are comparable to Hanwha Galleria Corp.?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Cencosud S.A, 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 Hanwha Galleria Corp. stock attractive at the current price?
The data as of Sep 24, 2026: price 2,765 KRW, calculated fair value 376.10 KRW (−86%), Quality Score 39/100, from 24 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 452260 calculated?
We run Hanwha Galleria Corp. through 24 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 376.10 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. Hanwha Galleria Corp. 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 Hanwha Galleria Corp. (452260)?
The closing price on Sep 23, 2026 was 2,765 KRW. Our model-based fair value is 376.10 KRW, about −86% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hanwha Galleria Corp. right 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. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Hanwha Galleria Corp.

How large is the market capitalisation of Hanwha Galleria Corp. (452260)?
The market capitalisation of Hanwha Galleria Corp. is 536B KRW (≈ $394M). 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 Hanwha Galleria Corp. (452260)?
The price-to-sales ratio of Hanwha Galleria Corp. is 0.65 (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 Hanwha Galleria Corp. (452260)?
The net margin of Hanwha Galleria Corp. is 0.6% (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 Hanwha Galleria Corp. (452260)?
The return on equity (ROE) of Hanwha Galleria Corp. is 0.8% (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 Hanwha Galleria Corp. (452260)?
On an EBIT basis the return on assets of Hanwha Galleria Corp. is 0.4% (avg 3y). 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 Hanwha Galleria Corp. (452260)?
The operating margin of Hanwha Galleria Corp. is 9.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hanwha Galleria Corp. (452260)?
Revenue at Hanwha Galleria Corp. is growing −2.4% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Hanwha Galleria Corp. (452260) carry?
The net debt of Hanwha Galleria Corp. is 221B KRW (fiscal year 2025, ≈ 27.6 yrs of FCF). 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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