Buy Or Sell Opportunity • Aug 14
Now 20% overvalued Over the last 90 days, the stock has fallen 13% to ₩41,100. The fair value is estimated to be ₩34,231, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to decline by 18% in the next 2 years. Upcoming Dividend • Jun 22
Upcoming dividend of ₩1,100 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 20 July 2026. Trailing yield: 4.8%. Within top quartile of South Korean dividend payers (4.2%). Higher than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩47,000, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Retail Distributors industry in Asia. Total returns to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩33,855 per share. Buy Or Sell Opportunity • Jun 09
Now 21% overvalued Over the last 90 days, the stock has fallen 6.9% to ₩41,100. The fair value is estimated to be ₩33,877, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to decline by 18% in the next 2 years. New Risk • Jun 04
New major risk - Revenue and earnings growth Earnings have declined by 41% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Earnings have declined by 41% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Annonce • May 12
HL Holdings Corporation to Report Q1, 2026 Results on May 18, 2026 HL Holdings Corporation announced that they will report Q1, 2026 results at 10:00 AM, Alaskan Daylight on May 18, 2026 Annonce • Mar 07
HL Holdings Corporation, Annual General Meeting, Mar 26, 2026 HL Holdings Corporation, Annual General Meeting, Mar 26, 2026, at 09:30 Tokyo Standard Time. Location: conference room, 46, giheungdanji-ro, giheung-gu, gyeonggi-do, yongin South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩40,700, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Retail Distributors industry in Asia. Total returns to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩30,681 per share. Price Target Changed • Feb 26
Price target increased by 11% to ₩61,000 Up from ₩55,000, the current price target is an average from 2 analysts. New target price is 18% above last closing price of ₩51,900. Stock is up 40% over the past year. The company is forecast to post earnings per share of ₩3,501 for next year compared to ₩2,087 last year. Annonce • Feb 11
HL Holdings Corporation (KOSE:A060980) announces an Equity Buyback for KRW 10,000 million worth of its shares. HL Holdings Corporation (KOSE:A060980) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose of the program is to enhance shareholder value through the shareholder friendly policy. The program will expire on December 30, 2026. As of February 10, 2026, the company had 134,630 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Annonce • Feb 05
HL Holdings Corporation to Report Fiscal Year 2025 Results on Feb 11, 2026 HL Holdings Corporation announced that they will report fiscal year 2025 results on Feb 11, 2026 Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩52,200, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Retail Distributors industry in Asia. Total returns to shareholders of 90% over the past three years. Board Change • Nov 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Rae Noh was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Jun 27
Price target increased by 7.3% to ₩49,000 Up from ₩45,667, the current price target is an average from 2 analysts. New target price is 21% above last closing price of ₩40,500. Stock is up 19% over the past year. The company is forecast to post earnings per share of ₩1,228 for next year compared to ₩2,087 last year. New Risk • Apr 03
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 96% Dividend yield: 5.8% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Dividend is not well covered by earnings (96% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Reported Earnings • Mar 22
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₩2,087 (down from ₩5,237 in FY 2023). Revenue: ₩1.37t (up 6.7% from FY 2023). Net income: ₩19.8b (down 61% from FY 2023). Profit margin: 1.4% (down from 3.9% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 61%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Annonce • Mar 08
HL Holdings Corporation, Annual General Meeting, Mar 26, 2025 HL Holdings Corporation, Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 46, giheungdanji-ro, giheung-gu, gyeonggi-do, yongin South Korea Annonce • Feb 07
HL Holdings Corporation (KOSE:A060980) announces an Equity Buyback for KRW 13,000 million worth of its shares. HL Holdings Corporation (KOSE:A060980) announces a share repurchase program. Under the program, the company will repurchase up to KRW 13,000 million worth of its shares pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose of the program is to enhance shareholder value through the shareholder friendly policy. The program will expire on January 2, 2026. As of February 6, 2025, the company had 470,193 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Annonce • Feb 04
HL Holdings Corporation to Report Fiscal Year 2024 Results on Feb 07, 2025 HL Holdings Corporation announced that they will report fiscal year 2024 results on Feb 07, 2025 Price Target Changed • Oct 17
Price target increased by 7.3% to ₩49,000 Up from ₩45,667, the current price target is an average from 2 analysts. New target price is 38% above last closing price of ₩35,500. Stock is up 11% over the past year. The company is forecast to post earnings per share of ₩6,347 for next year compared to ₩5,237 last year. Buy Or Sell Opportunity • Jul 02
Now 44% overvalued after recent price rise Over the last 90 days, the stock has risen 1.5% to ₩33,950. The fair value is estimated to be ₩23,582, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 4.5% in a year. Earnings are forecast to grow by 4.5% in the next year. Buy Or Sell Opportunity • Jun 27
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at ₩34,100. The fair value is estimated to be ₩28,391, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 4.5% in a year. Earnings are forecast to grow by 4.5% in the next year. New Risk • Jun 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (8.5% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Buy Or Sell Opportunity • May 14
Now 22% overvalued Over the last 90 days, the stock has fallen 3.4% to ₩34,200. The fair value is estimated to be ₩28,108, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 89% in the next 2 years. Buy Or Sell Opportunity • Apr 29
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 2.1% to ₩34,300. The fair value is estimated to be ₩28,143, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 89% in the next 2 years. Buy Or Sell Opportunity • Apr 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.2% to ₩33,800. The fair value is estimated to be ₩28,143, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 89% in the next 2 years. New Risk • Mar 22
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 137% Dividend per share is over 79x cash flows per share. Dividend yield: 5.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.6% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 137% Dividend per share is over 79x cash flows per share. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: ₩5,237 (vs ₩314 in FY 2022) Full year 2023 results: EPS: ₩5,237 (up from ₩314 in FY 2022). Revenue: ₩1.29t (flat on FY 2022). Net income: ₩50.5b (up ₩47.4b from FY 2022). Profit margin: 3.9% (up from 0.2% in FY 2022). Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 21
Upcoming dividend of ₩2,000 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.6%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.5%). Annonce • Feb 08
HL Holdings Corporation (KOSE:A060980) announces an Equity Buyback for KRW 7,000 million worth of its shares. HL Holdings Corporation (KOSE:A060980) announces a share repurchase program. Under the program, the company will repurchase up to KRW 7,000 million worth of its shares pursuant to a contract with Shinyoung Securities Co., Ltd. The purpose of the program is to enhance shareholder value through the shareholder friendly policy. The program will expire on February 4, 2025. As of February 5, 2024, the company had 560,720 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Upcoming Dividend • Dec 20
Upcoming dividend of ₩2,000 per share at 6.0% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 10 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.0%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.4%). New Risk • Nov 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Dividend is not well covered by earnings (137% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Price Target Changed • Nov 10
Price target decreased by 8.0% to ₩42,000 Down from ₩45,667, the current price target is provided by 1 analyst. New target price is 24% above last closing price of ₩33,750. Stock is up 2.9% over the past year. The company is forecast to post earnings per share of ₩11,500 for next year compared to ₩314 last year. Buying Opportunity • Sep 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.3%. The fair value is estimated to be ₩43,739, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has declined by 7.2%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 102% in the next 2 years. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: ₩314 (vs ₩10,531 in FY 2021) Full year 2022 results: EPS: ₩314 (down from ₩10,531 in FY 2021). Revenue: ₩1.28t (up 23% from FY 2021). Net income: ₩3.10b (down 97% from FY 2021). Profit margin: 0.2% (down from 10% in FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩2,000 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 10 April 2023. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 6.4%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.6%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Chairperson Mong-Won Chung was the last director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • May 12
Halla Holdings Corp. (KOSE:A060980) announces an Equity Buyback for KRW 10,000 million worth of its shares. Halla Holdings Corp. (KOSE:A060980) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a contract with Mirae Asset Daewoo Co., Ltd. The purpose of the program is to enhance shareholder value through the shareholder friendly policy. The program will expire on April 10, 2023. As of May 9, 2022, the company had 560,720 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Chairperson Mong-Won Chung was the last director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩2,000 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 04 April 2022. Payout ratio is a comfortable 16% but the company is paying out more than the cash it is generating. Trailing yield: 4.2%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improved over the past week After last week's 19% share price gain to ₩55,200, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Auto Components industry in South Korea. Total returns to shareholders of 59% over the past three years. Annonce • May 12
Halla Holdings Corp. (KOSE:A060980) announces an Equity Buyback for KRW 10,000 million worth of its shares. Halla Holdings Corp. (KOSE:A060980) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a contract with Mirae Asset Daewoo Co., Ltd. The purpose of the program is to enhance shareholder value through the shareholder friendly policy. The program will expire on December 31, 2021. As of May 10, 2021, the company had 351,915 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS ₩4,297 (vs ₩4,056 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₩735.8b (down 7.8% from FY 2019). Net income: ₩44.0b (up 3.7% from FY 2019). Profit margin: 6.0% (up from 5.3% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 5% per year. Annonce • Feb 09
Halla Holdings Corp., Annual General Meeting, Mar 25, 2021 Halla Holdings Corp., Annual General Meeting, Mar 25, 2021, at 09:00 Korea Standard Time. Annonce • Feb 06
Halla Holdings Corp. to Report Fiscal Year 2020 Results on Feb 08, 2021 Halla Holdings Corp. announced that they will report fiscal year 2020 results on Feb 08, 2021 Major Estimate Revision • Jan 26
Analysts update estimates The 2020 consensus earning per share (EPS) estimate increased from ₩1,645 to ₩2,714. Revenue estimate for the same period was approximately flat at ₩702.7m. Net income is expected to grow by 46% next year compared to 94% growth forecast for the Auto Components industry in South Korea. The consensus price target increased from ₩39,333 to ₩45,667. Share price is up 14% to ₩48,500 over the past week. Is New 90 Day High Low • Jan 21
New 90-day high: ₩46,100 The company is up 43% from its price of ₩32,350 on 23 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 44% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩51,250 per share. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 21% share price gain to ₩45,300, the stock is trading at a trailing P/E ratio of 15.5x, up from the previous P/E ratio of 12.8x. This compares to an average P/E of 20x in the Auto Components industry in South Korea. Total return to shareholders over the past three years is a loss of 14%. Is New 90 Day High Low • Jan 05
New 90-day high: ₩41,600 The company is up 27% from its price of ₩32,750 on 07 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩51,250 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩2,000 Per Share Will be paid on the 3rd of April to those who are registered shareholders by the 29th of December. The trailing yield of 5.3% is in the top quartile of South Korean dividend payers (2.6%), and it is higher than industry peers (1.7%). Is New 90 Day High Low • Nov 13
New 90-day high: ₩35,450 The company is up 15% from its price of ₩30,800 on 14 August 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩50,447 per share. Is New 90 Day High Low • Oct 28
New 90-day high: ₩33,100 The company is up 13% from its price of ₩29,250 on 30 July 2020. The South Korean market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩50,447 per share. Is New 90 Day High Low • Sep 29
New 90-day high: ₩31,050 The company is up 16% from its price of ₩26,700 on 01 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩50,447 per share.