View Future GrowthHMMLtd 과거 순이익 실적과거 기준 점검 1/6HMMLtd의 수입은 연평균 -15.5%의 비율로 감소해 온 반면, Shipping 산업은 수입이 연평균 11.2% 감소했습니다. 매출은 연평균 4.3%의 비율로 감소해 왔습니다. HMMLtd의 자기자본이익률은 5.4%이고 순이익률은 13.9%입니다.핵심 정보-15.45%순이익 성장률-27.93%주당순이익(EPS) 성장률Shipping 산업 성장률34.81%매출 성장률-4.34%자기자본이익률5.37%순이익률13.87%최근 순이익 업데이트31 Mar 2026최근 과거 실적 업데이트Reported Earnings • Mar 14Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: ₩1,951 (down from ₩4,999 in FY 2024). Revenue: ₩11t (down 6.9% from FY 2024). Net income: ₩1.88t (down 50% from FY 2024). Profit margin: 17% (down from 32% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Shipping industry in Asia are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.분석 기사 • Nov 21HMMLtd's (KRX:011200) Shareholders Have More To Worry About Than Only Soft EarningsThe market wasn't impressed with the soft earnings from HMM Co.,Ltd ( KRX:011200 ) recently. We did some analysis, and...Reported Earnings • Nov 19Third quarter 2025 earnings released: EPS: ₩298 (vs ₩2,307 in 3Q 2024)Third quarter 2025 results: EPS: ₩298 (down from ₩2,307 in 3Q 2024). Revenue: ₩2.71t (down 24% from 3Q 2024). Net income: ₩303.5b (down 83% from 3Q 2024). Profit margin: 11% (down from 49% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 3.7% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance.Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: ₩471 (vs ₩923 in 2Q 2024)Second quarter 2025 results: EPS: ₩471 (down from ₩923 in 2Q 2024). Revenue: ₩2.62t (down 1.5% from 2Q 2024). Net income: ₩471.3b (down 29% from 2Q 2024). Profit margin: 18% (down from 25% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 7.3% p.a. on average during the next 3 years compared to a 3.4% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 13Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: ₩4,999 (up from ₩1,667 in FY 2023). Revenue: ₩12t (up 39% from FY 2023). Net income: ₩3.78t (up 291% from FY 2023). Profit margin: 32% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is expected to fall by 11% p.a. on average during the next 2 years compared to a 2.3% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance.Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ₩923 (vs ₩624 in 2Q 2023)Second quarter 2024 results: EPS: ₩923 (up from ₩624 in 2Q 2023). Revenue: ₩2.66t (up 25% from 2Q 2023). Net income: ₩660.9b (up 111% from 2Q 2023). Profit margin: 25% (up from 15% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.모든 업데이트 보기Recent updatesValuation Update With 7 Day Price Move • Jun 16Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ₩21,950, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Shipping industry in Asia. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩31,251 per share.분석 기사 • Jun 07At ₩19,450, Is HMM Co.,Ltd (KRX:011200) Worth Looking At Closely?Today we're going to take a look at the well-established HMM Co.,Ltd ( KRX:011200 ). The company's stock saw...Major Estimate Revision • May 16Consensus revenue estimates increase by 10%The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from ₩10.3b to ₩11.4b. EPS estimate increased from ₩1,236 to ₩1,382 per share. Net income forecast to shrink 31% next year vs 3.3% growth forecast for Shipping industry in South Korea . Consensus price target broadly unchanged at ₩21,889. Share price fell 3.4% to ₩19,890 over the past week.Reported Earnings • Mar 14Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: ₩1,951 (down from ₩4,999 in FY 2024). Revenue: ₩11t (down 6.9% from FY 2024). Net income: ₩1.88t (down 50% from FY 2024). Profit margin: 17% (down from 32% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Shipping industry in Asia are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.공고 • Mar 12HMM Co.,Ltd, Annual General Meeting, Mar 26, 2026HMM Co.,Ltd, Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 108, yeoui-daero, yeongdeungpo-gu, seoul South Korea분석 기사 • Feb 13HMMLtd (KRX:011200) Is Paying Out A Larger Dividend Than Last YearHMM Co.,Ltd ( KRX:011200 ) has announced that it will be increasing its periodic dividend on the 24th of April to...Declared Dividend • Feb 13Dividend increased to ₩700Dividend of ₩700 is 17% higher than last year. Ex-date: 26th February 2026 Payment date: 24th April 2026 Dividend yield will be 3.3%, which is lower than the industry average of 5.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has remained flat since 4 years ago. However, payments have been volatile during that time. EPS is expected to decline by 76% over the next 3 years. Since a fall of 74% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.공고 • Feb 12HMM Co.,Ltd announces Annual dividend, payable on April 24, 2026HMM Co.,Ltd announced Annual dividend of KRW 700.0000 per share payable on April 24, 2026, ex-date on February 26, 2026 and record date on February 27, 2026.분석 기사 • Feb 01HMMLtd (KRX:011200) Is Experiencing Growth In Returns On CapitalTo find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...분석 기사 • Jan 14Investors Don't See Light At End Of HMM Co.,Ltd's (KRX:011200) TunnelWhen close to half the companies in Korea have price-to-earnings ratios (or "P/E's") above 14x, you may consider HMM...분석 기사 • Dec 09Should You Investigate HMM Co.,Ltd (KRX:011200) At ₩20,600?Let's talk about the popular HMM Co.,Ltd ( KRX:011200 ). The company's shares saw a double-digit share price rise of...분석 기사 • Nov 21HMMLtd's (KRX:011200) Shareholders Have More To Worry About Than Only Soft EarningsThe market wasn't impressed with the soft earnings from HMM Co.,Ltd ( KRX:011200 ) recently. We did some analysis, and...Reported Earnings • Nov 19Third quarter 2025 earnings released: EPS: ₩298 (vs ₩2,307 in 3Q 2024)Third quarter 2025 results: EPS: ₩298 (down from ₩2,307 in 3Q 2024). Revenue: ₩2.71t (down 24% from 3Q 2024). Net income: ₩303.5b (down 83% from 3Q 2024). Profit margin: 11% (down from 49% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 3.7% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance.Price Target Changed • Nov 18Price target decreased by 7.1% to ₩22,700Down from ₩24,444, the current price target is an average from 10 analysts. New target price is 21% above last closing price of ₩18,740. Stock is up 2.3% over the past year. The company is forecast to post earnings per share of ₩1,914 for next year compared to ₩4,999 last year.분석 기사 • Nov 15Is HMMLtd (KRX:011200) Using Too Much Debt?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...분석 기사 • Oct 28Investors Will Want HMMLtd's (KRX:011200) Growth In ROCE To PersistIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...분석 기사 • Oct 10A Look At The Fair Value Of HMM Co.,Ltd (KRX:011200)Key Insights HMMLtd's estimated fair value is ₩21,163 based on 2 Stage Free Cash Flow to Equity With ₩19,870 share...분석 기사 • Sep 21Insufficient Growth At HMM Co.,Ltd (KRX:011200) Hampers Share PriceHMM Co.,Ltd's ( KRX:011200 ) price-to-earnings (or "P/E") ratio of 6x might make it look like a strong buy right now...분석 기사 • Sep 03When Should You Buy HMM Co.,Ltd (KRX:011200)?Let's talk about the popular HMM Co.,Ltd ( KRX:011200 ). The company's shares saw significant share price movement...공고 • Aug 19HMM Co.,Ltd (KOSE:A011200) announces an Equity Buyback for 81,801,526 shares, representing 7.98% for KRW 2,143,199.98 million.HMM Co.,Ltd (KOSE:A011200) announces a share repurchase program. Under the program, the company will repurchase up to 81,801,526 shares, representing 7.98% for KRW 2,143,199.98 million. The shares will be repurchased at a price of KRW 26, 200 per share. The company will purchase all shares if (1) the total number of Tender Offer Tender Offer Shares is less than or equal to the planned number of shares, and (2) if the total number of Tender Offer Tender Offer Shares is less than the planned number to be purchased, it will purchase the Tender Offer Offer Shares in proportion to the planned number of shares to be purchased. The purpose behind the program is enhancing shareholder value through shareholder return. The program will be funded via cash. The program is valid till September 12, 2025. As of August 17, 2025, the company has 1,025,039,496 shares in issue.Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: ₩471 (vs ₩923 in 2Q 2024)Second quarter 2025 results: EPS: ₩471 (down from ₩923 in 2Q 2024). Revenue: ₩2.62t (down 1.5% from 2Q 2024). Net income: ₩471.3b (down 29% from 2Q 2024). Profit margin: 18% (down from 25% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 7.3% p.a. on average during the next 3 years compared to a 3.4% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance.Major Estimate Revision • Aug 15Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₩2,080 to ₩1,819 per share. Revenue forecast steady at ₩10.5b. Net income forecast to shrink 59% next year vs 2.5% decline forecast for Shipping industry in South Korea. Consensus price target of ₩25,250 unchanged from last update. Share price fell 3.9% to ₩22,100 over the past week.Board Change • Jun 06High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Outside Director Su Han Woo is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Major Estimate Revision • May 16Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩10.8b to ₩10.4b. EPS estimate also fell from ₩2,629 per share to ₩2,291 per share. Net income forecast to shrink 37% next year vs 13% decline forecast for Shipping industry in South Korea. Consensus price target broadly unchanged at ₩22,714. Share price rose 26% to ₩22,900 over the past week.Valuation Update With 7 Day Price Move • May 15Investor sentiment improves as stock rises 23%After last week's 23% share price gain to ₩22,300, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Shipping industry in Asia. Total loss to shareholders of 14% over the past three years.New Risk • May 13New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 49% This is considered a major 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 Risks Earnings are forecast to decline by an average of 56% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Mar 13Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: ₩4,999 (up from ₩1,667 in FY 2023). Revenue: ₩12t (up 39% from FY 2023). Net income: ₩3.78t (up 291% from FY 2023). Profit margin: 32% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is expected to fall by 11% p.a. on average during the next 2 years compared to a 2.3% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance.공고 • Mar 08HMM Co.,Ltd, Annual General Meeting, Mar 26, 2025HMM Co.,Ltd, Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 108, yeoui-daero, yeongdeungpo-gu, seoul South KoreaPrice Target Changed • Feb 15Price target increased by 10% to ₩22,250Up from ₩20,143, the current price target is an average from 8 analysts. New target price is 21% above last closing price of ₩18,320. Stock is up 2.7% over the past year. The company is forecast to post earnings per share of ₩4,688 for next year compared to ₩1,667 last year.New Risk • Dec 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 50% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 50% per year for the foreseeable future. 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 (28% increase in shares outstanding).Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ₩923 (vs ₩624 in 2Q 2023)Second quarter 2024 results: EPS: ₩923 (up from ₩624 in 2Q 2023). Revenue: ₩2.66t (up 25% from 2Q 2023). Net income: ₩660.9b (up 111% from 2Q 2023). Profit margin: 25% (up from 15% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.New Risk • Jul 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major 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 Risks Earnings are forecast to decline by an average of 19% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Share price has been volatile over the past 3 months (7.6% average weekly change). Profit margins are more than 30% lower than last year (12% net profit margin).Price Target Changed • Jun 25Price target increased by 12% to ₩19,500Up from ₩17,375, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₩19,270. Stock is up 0.8% over the past year. The company is forecast to post earnings per share of ₩3,212 for next year compared to ₩1,667 last year.Price Target Changed • Jun 21Price target increased by 9.0% to ₩18,125Up from ₩16,625, the current price target is an average from 4 analysts. New target price is 5.3% below last closing price of ₩19,140. Stock is up 3.1% over the past year. The company is forecast to post earnings per share of ₩3,030 for next year compared to ₩1,667 last year.New Risk • Jun 13New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (12% net profit margin). Shareholders have been diluted in the past year (45% increase in shares outstanding).Major Estimate Revision • May 29Consensus EPS estimates increase by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ₩10.2b to ₩10.5b. EPS estimate increased from ₩2,652 to ₩3,045 per share. Net income forecast to grow 76% next year vs 26% growth forecast for Shipping industry in South Korea. Consensus price target up from ₩16,625 to ₩17,375. Share price rose 7.4% to ₩18,040 over the past week.Major Estimate Revision • May 16Consensus EPS estimates increase by 12%, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₩10.8b to ₩10.1b. EPS estimate rose from ₩2,113 to ₩2,373. Net income forecast to grow 89% next year vs 21% growth forecast for Shipping industry in South Korea. Consensus price target of ₩16,625 unchanged from last update. Share price fell 4.2% to ₩16,580 over the past week.Valuation Update With 7 Day Price Move • May 10Investor sentiment improves as stock rises 20%After last week's 20% share price gain to ₩18,400, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Shipping industry in Asia. Total loss to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩30,424 per share.Buy Or Sell Opportunity • Apr 09Now 23% overvaluedOver the last 90 days, the stock has fallen 17% to ₩15,790. The fair value is estimated to be ₩12,823, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 14% in the next 2 years.공고 • Mar 16HMM Co.,Ltd, Annual General Meeting, Mar 28, 2024HMM Co.,Ltd, Annual General Meeting, Mar 28, 2024, at 09:01 Korea Standard Time. Location: Auditorium, 19F, 108 (Parc.1 Tower 1), Yeoui-daero, Yeongdeungpo-gu Seoul South Korea Agenda: To consider approval of the 48th financial statement and consolidated financial statement; to consider changes in some Articles of incorporation; to consider appointment of directors; and to consider appointment of the members of the audit committee.Price Target Changed • Feb 16Price target increased by 7.9% to ₩17,625Up from ₩16,333, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₩17,490. Stock is down 21% over the past year. The company is forecast to post earnings per share of ₩1,704 for next year compared to ₩20,556 last year.Price Target Changed • Jan 24Price target increased by 8.3% to ₩17,333Up from ₩16,000, the current price target is an average from 3 analysts. New target price is 14% below last closing price of ₩20,050. Stock is down 9.5% over the past year. The company is forecast to post earnings per share of ₩1,623 for next year compared to ₩20,556 last year.Upcoming Dividend • Dec 20Upcoming dividend of ₩1,200 per share at 5.4% yieldEligible shareholders must have bought the stock before 27 December 2023. Payment date: 29 April 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (6.1%).Major Estimate Revision • Nov 14Consensus EPS estimates fall by 25%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₩2,140 to ₩1,602 per share. Revenue forecast steady at ₩8.46b. Net income forecast to shrink 79% next year vs 11% decline forecast for Shipping industry in South Korea. Consensus price target broadly unchanged at ₩16,500. Share price was steady at ₩15,630 over the past week.New Risk • Nov 14New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 41% 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 Earnings are forecast to decline by an average of 63% per year for the foreseeable future. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (36% net profit margin). Shareholders have been diluted in the past year (41% increase in shares outstanding).Major Estimate Revision • Oct 27Consensus EPS estimates increase by 11%, revenue downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from ₩8.62b to ₩8.50b. EPS estimate rose from ₩1,929 to ₩2,140. Net income forecast to shrink 77% next year vs 28% decline forecast for Shipping industry in South Korea. Consensus price target of ₩16,750 unchanged from last update. Share price rose 5.3% to ₩14,810 over the past week.Price Target Changed • Sep 26Price target decreased by 15% to ₩20,500Down from ₩24,000, the current price target is an average from 4 analysts. New target price is 25% above last closing price of ₩16,460. Stock is down 16% over the past year. The company is forecast to post earnings per share of ₩2,737 for next year compared to ₩20,556 last year.공고 • Sep 07Hapag-Lloyd Reportedly Abandons Plans to Invest in HMMHapag-Lloyd Aktiengesellschaft (XTRA:HLAG) has withdrawn from the bidding process to acquire a stake in South Korean rival Hyundai Merchant Marine (HMM), news agency dpa-AFX reported, citing a statement of Hapag-Lloyd’s CEO Rolf Habben Jansen.b. Hapag-Lloyd would have been a good partner for HMM, but the South Korean company has now decided to pursue its goals with other parties, the CEO said on September 04, 2023. According to the article, Hapag-Lloyd aimed at buying a 38.9% stake in HMM from local banks Korea Development Bank (KDB) and Korea Ocean Business Co (KOBC). Jansen did not disclose the reasons for withdrawing from the process. According to an unnamed logistics expert cited by German paper Bild, the progress of foreign buyers in the bidding rounds could lead to their insight into HMM's sensitive information. That is why the last three bidders remaining in the race are from South Korea. These include fishing company Dongwon, agri-food firm Harim and trading conglomerate LX Holdings.Reported Earnings • Aug 16Second quarter 2023 earnings released: EPS: ₩624 (vs ₩5,974 in 2Q 2022)Second quarter 2023 results: EPS: ₩624 (down from ₩5,974 in 2Q 2022). Revenue: ₩2.13t (down 58% from 2Q 2022). Net income: ₩312.6b (down 89% from 2Q 2022). Profit margin: 15% (down from 58% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 8.3% p.a. on average during the next 3 years compared to a 9.9% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth.New Risk • Aug 13New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 36% Last year net profit margin: 60% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 43% per year for the foreseeable future. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (36% net profit margin).Major Estimate Revision • Aug 11Consensus EPS estimates increase by 20%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ₩9.33b to ₩9.43b. EPS estimate increased from ₩2,386 to ₩2,855 per share. Net income forecast to shrink 70% next year vs 24% decline forecast for Shipping industry in South Korea. Consensus price target broadly unchanged at ₩24,200. Share price was steady at ₩17,600 over the past week.Major Estimate Revision • Jul 25Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₩9.50b to ₩9.39b. EPS estimate also fell from ₩2,840 per share to ₩2,386 per share. Net income forecast to shrink 72% next year vs 38% decline forecast for Shipping industry in South Korea. Consensus price target of ₩24,000 unchanged from last update. Share price fell 14% to ₩16,300 over the past week.Major Estimate Revision • Jul 19Consensus EPS estimates fall by 14%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₩3,025 to ₩2,600 per share. Revenue forecast steady at ₩9.47b. Net income forecast to shrink 70% next year vs 38% decline forecast for Shipping industry in South Korea. Consensus price target of ₩24,200 unchanged from last update. Share price was steady at ₩19,020 over the past week.Reported Earnings • May 21First quarter 2023 earnings released: EPS: ₩446 (vs ₩6,363 in 1Q 2022)First quarter 2023 results: EPS: ₩446 (down from ₩6,363 in 1Q 2022). Revenue: ₩2.08t (down 58% from 1Q 2022). Net income: ₩285.4b (down 91% from 1Q 2022). Profit margin: 14% (down from 64% in 1Q 2022). Revenue is expected to fall by 9.9% p.a. on average during the next 3 years compared to a 10% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 66% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • May 16Consensus EPS estimates increase by 27%, revenue downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from ₩10.3b to ₩9.82b. EPS estimate rose from ₩2,809 to ₩3,569. Net income forecast to shrink 73% next year vs 31% decline forecast for Shipping industry in South Korea. Consensus price target of ₩25,000 unchanged from last update. Share price fell 5.9% to ₩18,800 over the past week.Reported Earnings • Mar 23Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: ₩20,556 (up from ₩13,506 in FY 2021). Revenue: ₩19t (up 35% from FY 2021). Net income: ₩10t (up 89% from FY 2021). Profit margin: 54% (up from 39% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 44%. Revenue is expected to fall by 30% p.a. on average during the next 2 years compared to a 19% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 96% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Dec 21Upcoming dividend of ₩600 per shareEligible shareholders must have bought the stock before 28 December 2022. Payment date: 28 April 2023. Payout ratio is a comfortable 2.6% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.5%).Price Target Changed • Nov 16Price target decreased to ₩26,800Down from ₩29,750, the current price target is an average from 5 analysts. New target price is 28% above last closing price of ₩21,000. Stock is down 19% over the past year. The company is forecast to post earnings per share of ₩15,851 for next year compared to ₩13,506 last year.Board Change • Nov 16Insufficient new directorsNo 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. Chairperson of Hyundai Group Jeong-Eun Hyun was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: ₩5,327 (vs ₩5,612 in 3Q 2021)Third quarter 2022 results: EPS: ₩5,327. Revenue: ₩5.11t (up 27% from 3Q 2021). Net income: ₩2.61t (up 14% from 3Q 2021). Profit margin: 51% (down from 57% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 20% p.a. on average during the next 3 years compared to a 16% decline forecast for the Shipping industry in Asia.Price Target Changed • Oct 02Price target decreased to ₩26,600Down from ₩29,750, the current price target is an average from 5 analysts. New target price is 44% above last closing price of ₩18,500. Stock is down 42% over the past year. The company is forecast to post earnings per share of ₩18,665 for next year compared to ₩13,506 last year.Major Estimate Revision • Oct 01Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ₩18.0b to ₩19.5b. EPS estimate increased from ₩16,288 to ₩18,849 per share. Net income forecast to shrink 41% next year vs 23% decline forecast for Shipping industry in South Korea. Consensus price target down from ₩29,750 to ₩28,000. Share price was steady at ₩18,500 over the past week.Price Target Changed • Aug 17Price target decreased to ₩31,000Down from ₩33,750, the current price target is an average from 6 analysts. New target price is 32% above last closing price of ₩23,450. Stock is down 43% over the past year. The company is forecast to post earnings per share of ₩16,583 for next year compared to ₩13,506 last year.Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: ₩5,972 (vs ₩535 in 2Q 2021)Second quarter 2022 results: EPS: ₩5,972 (up from ₩535 in 2Q 2021). Revenue: ₩5.03t (up 73% from 2Q 2021). Net income: ₩2.92t (up ₩2.73t from 2Q 2021). Profit margin: 58% (up from 6.4% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is forecast to decline by 20% while the Shipping industry in South Korea is not expected to grow. Over the last 3 years on average, earnings per share has increased by 135% per year but the company’s share price has only increased by 95% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Aug 02Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be ₩31,318, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 21% in 2 years. Earnings is forecast to decline by 52% in the next 2 years.Price Target Changed • Jun 24Price target decreased to ₩33,750Down from ₩36,750, the current price target is an average from 5 analysts. New target price is 40% above last closing price of ₩24,100. Stock is down 44% over the past year. The company is forecast to post earnings per share of ₩18,368 for next year compared to ₩13,506 last year.Price Target Changed • Jun 09Price target increased to ₩36,750Up from ₩34,240, the current price target is an average from 5 analysts. New target price is 25% above last closing price of ₩29,450. Stock is down 33% over the past year. The company is forecast to post earnings per share of ₩16,879 for next year compared to ₩13,506 last year.Buying Opportunity • Jun 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be ₩36,846, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 22% in 2 years. Earnings is forecast to decline by 54% in the next 2 years.Major Estimate Revision • May 20Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from ₩17,234 to ₩12,821 per share. Revenue forecast steady at ₩16.6b. Net income forecast to shrink 11% next year vs 9.8% decline forecast for Shipping industry in South Korea. Consensus price target up from ₩34,240 to ₩35,040. Share price fell 3.1% to ₩30,150 over the past week.Reported Earnings • May 18First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: ₩6,363 (up from ₩391 in 1Q 2021). Revenue: ₩4.92t (up 103% from 1Q 2021). Net income: ₩3.13t (up ₩2.98t from 1Q 2021). Profit margin: 64% (up from 6.3% in 1Q 2021). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates by 51%. Over the next year, revenue is expected to shrink by 4.7% compared to a 1.8% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 139% per year but the company’s share price has only increased by 105% per year, which means it is significantly lagging earnings growth.Buying Opportunity • May 10Now 21% undervaluedOver the last 90 days, the stock is up 17%. The fair value is estimated to be ₩36,399, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 6.1% per annum. Earnings is also forecast to decline by 27% per annum over the same time period.Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Chairperson of Hyundai Group Jeong-Eun Hyun was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Buying Opportunity • Apr 01Now 20% undervaluedOver the last 90 days, the stock is up 7.4%. The fair value is estimated to be ₩36,255, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 8.7% per annum. Earnings is also forecast to decline by 27% per annum over the same time period.Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improved over the past weekAfter last week's 17% share price gain to ₩33,950, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 6x in the Shipping industry in Asia. Total returns to shareholders of 802% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩35,018 per share.Valuation Update With 7 Day Price Move • Feb 18Investor sentiment improved over the past weekAfter last week's 22% share price gain to ₩29,600, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 6x in the Shipping industry in Asia. Total returns to shareholders of 577% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩38,716 per share.Valuation Update With 7 Day Price Move • Dec 06Investor sentiment improved over the past weekAfter last week's 15% share price gain to ₩27,150, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 7x in the Shipping industry in Asia. Total returns to shareholders of 667% over the past three years.매출 및 비용 세부 내역HMMLtd가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이KOSE:A011200 매출, 비용 및 순이익 (KRW Millions)날짜매출순이익일반관리비연구개발비31 Mar 2610,755,4951,491,537502,415031 Dec 2510,891,4431,872,163520,676030 Sep 2511,338,7682,399,320510,773030 Jun 2512,184,3563,823,925435,559031 Mar 2512,225,0414,002,293443,962031 Dec 2411,700,2243,740,529404,164030 Sep 2410,608,0983,062,306401,158030 Jun 249,182,7171,429,588391,405031 Mar 248,649,2731,089,689348,830031 Dec 238,400,969882,653348,499030 Sep 239,861,9812,155,135403,536030 Jun 2312,841,6154,611,633458,509031 Mar 2315,745,6617,233,308459,050031 Dec 2218,582,77010,084,254453,408030 Sep 2219,501,97811,249,148380,352030 Jun 2218,412,10610,972,472358,389031 Mar 2216,284,7798,227,804351,746031 Dec 2113,794,1485,240,839343,013030 Sep 2111,357,6392,702,722325,451030 Jun 219,059,762427,232275,219031 Mar 217,528,202248,803268,843031 Dec 206,413,27033,059267,882030 Sep 205,759,210-181,805250,060030 Jun 205,488,442-321,977259,227031 Mar 205,510,268-544,129267,056031 Dec 195,513,089-650,247264,553030 Sep 195,606,082-754,575275,034030 Jun 195,584,213-782,141273,217031 Mar 195,426,079-811,705277,859031 Dec 185,222,124-796,590280,585030 Sep 184,964,650-809,789279,008030 Jun 184,834,391-702,838285,624031 Mar 184,837,507-631,638290,212031 Dec 175,028,016-1,191,003295,954030 Sep 175,111,643-1,666,733307,049030 Jun 174,894,496-1,309,141309,861031 Mar 174,669,363-909,380299,106031 Dec 164,584,810-432,602316,167030 Sep 164,555,744-245,815373,232030 Jun 164,952,663-571,770369,590031 Mar 165,377,700-926,228385,943031 Dec 155,645,057-704,561377,197030 Sep 155,863,195-237,565290,5210양질의 수익: A011200는 고품질 수익을 보유하고 있습니다.이익 마진 증가: A011200의 현재 순 이익률 (13.9%)은 지난해 (32.7%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: A011200의 수익은 지난 5년 동안 연평균 15.5% 감소했습니다.성장 가속화: A011200은 지난 1년 동안 수익이 감소하여 5년 평균과 비교할 수 없습니다.수익 대 산업: A011200은 지난 1년 동안 수익이 감소(-62.7%)하여 Shipping 업계 평균(-26.8%)과 비교하기 어렵습니다.자기자본이익률높은 ROE: A011200의 자본 수익률(5.4%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YTransportation 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/27 17:19종가2026/07/27 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스HMM Co.,Ltd는 24명의 분석가가 다루고 있습니다. 이 중 9명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Nathan GeeBofA Global ResearchRigan WongCitigroup IncJi Hwan YangDaishin Securities Co. Ltd.21명의 분석가 더 보기
Reported Earnings • Mar 14Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: ₩1,951 (down from ₩4,999 in FY 2024). Revenue: ₩11t (down 6.9% from FY 2024). Net income: ₩1.88t (down 50% from FY 2024). Profit margin: 17% (down from 32% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Shipping industry in Asia are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.
분석 기사 • Nov 21HMMLtd's (KRX:011200) Shareholders Have More To Worry About Than Only Soft EarningsThe market wasn't impressed with the soft earnings from HMM Co.,Ltd ( KRX:011200 ) recently. We did some analysis, and...
Reported Earnings • Nov 19Third quarter 2025 earnings released: EPS: ₩298 (vs ₩2,307 in 3Q 2024)Third quarter 2025 results: EPS: ₩298 (down from ₩2,307 in 3Q 2024). Revenue: ₩2.71t (down 24% from 3Q 2024). Net income: ₩303.5b (down 83% from 3Q 2024). Profit margin: 11% (down from 49% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 3.7% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance.
Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: ₩471 (vs ₩923 in 2Q 2024)Second quarter 2025 results: EPS: ₩471 (down from ₩923 in 2Q 2024). Revenue: ₩2.62t (down 1.5% from 2Q 2024). Net income: ₩471.3b (down 29% from 2Q 2024). Profit margin: 18% (down from 25% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 7.3% p.a. on average during the next 3 years compared to a 3.4% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 13Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: ₩4,999 (up from ₩1,667 in FY 2023). Revenue: ₩12t (up 39% from FY 2023). Net income: ₩3.78t (up 291% from FY 2023). Profit margin: 32% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is expected to fall by 11% p.a. on average during the next 2 years compared to a 2.3% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance.
Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ₩923 (vs ₩624 in 2Q 2023)Second quarter 2024 results: EPS: ₩923 (up from ₩624 in 2Q 2023). Revenue: ₩2.66t (up 25% from 2Q 2023). Net income: ₩660.9b (up 111% from 2Q 2023). Profit margin: 25% (up from 15% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Jun 16Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ₩21,950, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Shipping industry in Asia. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩31,251 per share.
분석 기사 • Jun 07At ₩19,450, Is HMM Co.,Ltd (KRX:011200) Worth Looking At Closely?Today we're going to take a look at the well-established HMM Co.,Ltd ( KRX:011200 ). The company's stock saw...
Major Estimate Revision • May 16Consensus revenue estimates increase by 10%The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from ₩10.3b to ₩11.4b. EPS estimate increased from ₩1,236 to ₩1,382 per share. Net income forecast to shrink 31% next year vs 3.3% growth forecast for Shipping industry in South Korea . Consensus price target broadly unchanged at ₩21,889. Share price fell 3.4% to ₩19,890 over the past week.
Reported Earnings • Mar 14Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: ₩1,951 (down from ₩4,999 in FY 2024). Revenue: ₩11t (down 6.9% from FY 2024). Net income: ₩1.88t (down 50% from FY 2024). Profit margin: 17% (down from 32% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Shipping industry in Asia are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.
공고 • Mar 12HMM Co.,Ltd, Annual General Meeting, Mar 26, 2026HMM Co.,Ltd, Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 108, yeoui-daero, yeongdeungpo-gu, seoul South Korea
분석 기사 • Feb 13HMMLtd (KRX:011200) Is Paying Out A Larger Dividend Than Last YearHMM Co.,Ltd ( KRX:011200 ) has announced that it will be increasing its periodic dividend on the 24th of April to...
Declared Dividend • Feb 13Dividend increased to ₩700Dividend of ₩700 is 17% higher than last year. Ex-date: 26th February 2026 Payment date: 24th April 2026 Dividend yield will be 3.3%, which is lower than the industry average of 5.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has remained flat since 4 years ago. However, payments have been volatile during that time. EPS is expected to decline by 76% over the next 3 years. Since a fall of 74% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
공고 • Feb 12HMM Co.,Ltd announces Annual dividend, payable on April 24, 2026HMM Co.,Ltd announced Annual dividend of KRW 700.0000 per share payable on April 24, 2026, ex-date on February 26, 2026 and record date on February 27, 2026.
분석 기사 • Feb 01HMMLtd (KRX:011200) Is Experiencing Growth In Returns On CapitalTo find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...
분석 기사 • Jan 14Investors Don't See Light At End Of HMM Co.,Ltd's (KRX:011200) TunnelWhen close to half the companies in Korea have price-to-earnings ratios (or "P/E's") above 14x, you may consider HMM...
분석 기사 • Dec 09Should You Investigate HMM Co.,Ltd (KRX:011200) At ₩20,600?Let's talk about the popular HMM Co.,Ltd ( KRX:011200 ). The company's shares saw a double-digit share price rise of...
분석 기사 • Nov 21HMMLtd's (KRX:011200) Shareholders Have More To Worry About Than Only Soft EarningsThe market wasn't impressed with the soft earnings from HMM Co.,Ltd ( KRX:011200 ) recently. We did some analysis, and...
Reported Earnings • Nov 19Third quarter 2025 earnings released: EPS: ₩298 (vs ₩2,307 in 3Q 2024)Third quarter 2025 results: EPS: ₩298 (down from ₩2,307 in 3Q 2024). Revenue: ₩2.71t (down 24% from 3Q 2024). Net income: ₩303.5b (down 83% from 3Q 2024). Profit margin: 11% (down from 49% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 3.7% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance.
Price Target Changed • Nov 18Price target decreased by 7.1% to ₩22,700Down from ₩24,444, the current price target is an average from 10 analysts. New target price is 21% above last closing price of ₩18,740. Stock is up 2.3% over the past year. The company is forecast to post earnings per share of ₩1,914 for next year compared to ₩4,999 last year.
분석 기사 • Nov 15Is HMMLtd (KRX:011200) Using Too Much Debt?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
분석 기사 • Oct 28Investors Will Want HMMLtd's (KRX:011200) Growth In ROCE To PersistIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...
분석 기사 • Oct 10A Look At The Fair Value Of HMM Co.,Ltd (KRX:011200)Key Insights HMMLtd's estimated fair value is ₩21,163 based on 2 Stage Free Cash Flow to Equity With ₩19,870 share...
분석 기사 • Sep 21Insufficient Growth At HMM Co.,Ltd (KRX:011200) Hampers Share PriceHMM Co.,Ltd's ( KRX:011200 ) price-to-earnings (or "P/E") ratio of 6x might make it look like a strong buy right now...
분석 기사 • Sep 03When Should You Buy HMM Co.,Ltd (KRX:011200)?Let's talk about the popular HMM Co.,Ltd ( KRX:011200 ). The company's shares saw significant share price movement...
공고 • Aug 19HMM Co.,Ltd (KOSE:A011200) announces an Equity Buyback for 81,801,526 shares, representing 7.98% for KRW 2,143,199.98 million.HMM Co.,Ltd (KOSE:A011200) announces a share repurchase program. Under the program, the company will repurchase up to 81,801,526 shares, representing 7.98% for KRW 2,143,199.98 million. The shares will be repurchased at a price of KRW 26, 200 per share. The company will purchase all shares if (1) the total number of Tender Offer Tender Offer Shares is less than or equal to the planned number of shares, and (2) if the total number of Tender Offer Tender Offer Shares is less than the planned number to be purchased, it will purchase the Tender Offer Offer Shares in proportion to the planned number of shares to be purchased. The purpose behind the program is enhancing shareholder value through shareholder return. The program will be funded via cash. The program is valid till September 12, 2025. As of August 17, 2025, the company has 1,025,039,496 shares in issue.
Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: ₩471 (vs ₩923 in 2Q 2024)Second quarter 2025 results: EPS: ₩471 (down from ₩923 in 2Q 2024). Revenue: ₩2.62t (down 1.5% from 2Q 2024). Net income: ₩471.3b (down 29% from 2Q 2024). Profit margin: 18% (down from 25% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 7.3% p.a. on average during the next 3 years compared to a 3.4% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance.
Major Estimate Revision • Aug 15Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₩2,080 to ₩1,819 per share. Revenue forecast steady at ₩10.5b. Net income forecast to shrink 59% next year vs 2.5% decline forecast for Shipping industry in South Korea. Consensus price target of ₩25,250 unchanged from last update. Share price fell 3.9% to ₩22,100 over the past week.
Board Change • Jun 06High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Outside Director Su Han Woo is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Major Estimate Revision • May 16Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩10.8b to ₩10.4b. EPS estimate also fell from ₩2,629 per share to ₩2,291 per share. Net income forecast to shrink 37% next year vs 13% decline forecast for Shipping industry in South Korea. Consensus price target broadly unchanged at ₩22,714. Share price rose 26% to ₩22,900 over the past week.
Valuation Update With 7 Day Price Move • May 15Investor sentiment improves as stock rises 23%After last week's 23% share price gain to ₩22,300, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Shipping industry in Asia. Total loss to shareholders of 14% over the past three years.
New Risk • May 13New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 49% This is considered a major 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 Risks Earnings are forecast to decline by an average of 56% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Mar 13Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: ₩4,999 (up from ₩1,667 in FY 2023). Revenue: ₩12t (up 39% from FY 2023). Net income: ₩3.78t (up 291% from FY 2023). Profit margin: 32% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is expected to fall by 11% p.a. on average during the next 2 years compared to a 2.3% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance.
공고 • Mar 08HMM Co.,Ltd, Annual General Meeting, Mar 26, 2025HMM Co.,Ltd, Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 108, yeoui-daero, yeongdeungpo-gu, seoul South Korea
Price Target Changed • Feb 15Price target increased by 10% to ₩22,250Up from ₩20,143, the current price target is an average from 8 analysts. New target price is 21% above last closing price of ₩18,320. Stock is up 2.7% over the past year. The company is forecast to post earnings per share of ₩4,688 for next year compared to ₩1,667 last year.
New Risk • Dec 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 50% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 50% per year for the foreseeable future. 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 (28% increase in shares outstanding).
Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ₩923 (vs ₩624 in 2Q 2023)Second quarter 2024 results: EPS: ₩923 (up from ₩624 in 2Q 2023). Revenue: ₩2.66t (up 25% from 2Q 2023). Net income: ₩660.9b (up 111% from 2Q 2023). Profit margin: 25% (up from 15% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.
New Risk • Jul 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major 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 Risks Earnings are forecast to decline by an average of 19% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Share price has been volatile over the past 3 months (7.6% average weekly change). Profit margins are more than 30% lower than last year (12% net profit margin).
Price Target Changed • Jun 25Price target increased by 12% to ₩19,500Up from ₩17,375, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₩19,270. Stock is up 0.8% over the past year. The company is forecast to post earnings per share of ₩3,212 for next year compared to ₩1,667 last year.
Price Target Changed • Jun 21Price target increased by 9.0% to ₩18,125Up from ₩16,625, the current price target is an average from 4 analysts. New target price is 5.3% below last closing price of ₩19,140. Stock is up 3.1% over the past year. The company is forecast to post earnings per share of ₩3,030 for next year compared to ₩1,667 last year.
New Risk • Jun 13New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (12% net profit margin). Shareholders have been diluted in the past year (45% increase in shares outstanding).
Major Estimate Revision • May 29Consensus EPS estimates increase by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ₩10.2b to ₩10.5b. EPS estimate increased from ₩2,652 to ₩3,045 per share. Net income forecast to grow 76% next year vs 26% growth forecast for Shipping industry in South Korea. Consensus price target up from ₩16,625 to ₩17,375. Share price rose 7.4% to ₩18,040 over the past week.
Major Estimate Revision • May 16Consensus EPS estimates increase by 12%, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₩10.8b to ₩10.1b. EPS estimate rose from ₩2,113 to ₩2,373. Net income forecast to grow 89% next year vs 21% growth forecast for Shipping industry in South Korea. Consensus price target of ₩16,625 unchanged from last update. Share price fell 4.2% to ₩16,580 over the past week.
Valuation Update With 7 Day Price Move • May 10Investor sentiment improves as stock rises 20%After last week's 20% share price gain to ₩18,400, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Shipping industry in Asia. Total loss to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩30,424 per share.
Buy Or Sell Opportunity • Apr 09Now 23% overvaluedOver the last 90 days, the stock has fallen 17% to ₩15,790. The fair value is estimated to be ₩12,823, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 14% in the next 2 years.
공고 • Mar 16HMM Co.,Ltd, Annual General Meeting, Mar 28, 2024HMM Co.,Ltd, Annual General Meeting, Mar 28, 2024, at 09:01 Korea Standard Time. Location: Auditorium, 19F, 108 (Parc.1 Tower 1), Yeoui-daero, Yeongdeungpo-gu Seoul South Korea Agenda: To consider approval of the 48th financial statement and consolidated financial statement; to consider changes in some Articles of incorporation; to consider appointment of directors; and to consider appointment of the members of the audit committee.
Price Target Changed • Feb 16Price target increased by 7.9% to ₩17,625Up from ₩16,333, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₩17,490. Stock is down 21% over the past year. The company is forecast to post earnings per share of ₩1,704 for next year compared to ₩20,556 last year.
Price Target Changed • Jan 24Price target increased by 8.3% to ₩17,333Up from ₩16,000, the current price target is an average from 3 analysts. New target price is 14% below last closing price of ₩20,050. Stock is down 9.5% over the past year. The company is forecast to post earnings per share of ₩1,623 for next year compared to ₩20,556 last year.
Upcoming Dividend • Dec 20Upcoming dividend of ₩1,200 per share at 5.4% yieldEligible shareholders must have bought the stock before 27 December 2023. Payment date: 29 April 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (6.1%).
Major Estimate Revision • Nov 14Consensus EPS estimates fall by 25%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₩2,140 to ₩1,602 per share. Revenue forecast steady at ₩8.46b. Net income forecast to shrink 79% next year vs 11% decline forecast for Shipping industry in South Korea. Consensus price target broadly unchanged at ₩16,500. Share price was steady at ₩15,630 over the past week.
New Risk • Nov 14New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 41% 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 Earnings are forecast to decline by an average of 63% per year for the foreseeable future. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (36% net profit margin). Shareholders have been diluted in the past year (41% increase in shares outstanding).
Major Estimate Revision • Oct 27Consensus EPS estimates increase by 11%, revenue downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from ₩8.62b to ₩8.50b. EPS estimate rose from ₩1,929 to ₩2,140. Net income forecast to shrink 77% next year vs 28% decline forecast for Shipping industry in South Korea. Consensus price target of ₩16,750 unchanged from last update. Share price rose 5.3% to ₩14,810 over the past week.
Price Target Changed • Sep 26Price target decreased by 15% to ₩20,500Down from ₩24,000, the current price target is an average from 4 analysts. New target price is 25% above last closing price of ₩16,460. Stock is down 16% over the past year. The company is forecast to post earnings per share of ₩2,737 for next year compared to ₩20,556 last year.
공고 • Sep 07Hapag-Lloyd Reportedly Abandons Plans to Invest in HMMHapag-Lloyd Aktiengesellschaft (XTRA:HLAG) has withdrawn from the bidding process to acquire a stake in South Korean rival Hyundai Merchant Marine (HMM), news agency dpa-AFX reported, citing a statement of Hapag-Lloyd’s CEO Rolf Habben Jansen.b. Hapag-Lloyd would have been a good partner for HMM, but the South Korean company has now decided to pursue its goals with other parties, the CEO said on September 04, 2023. According to the article, Hapag-Lloyd aimed at buying a 38.9% stake in HMM from local banks Korea Development Bank (KDB) and Korea Ocean Business Co (KOBC). Jansen did not disclose the reasons for withdrawing from the process. According to an unnamed logistics expert cited by German paper Bild, the progress of foreign buyers in the bidding rounds could lead to their insight into HMM's sensitive information. That is why the last three bidders remaining in the race are from South Korea. These include fishing company Dongwon, agri-food firm Harim and trading conglomerate LX Holdings.
Reported Earnings • Aug 16Second quarter 2023 earnings released: EPS: ₩624 (vs ₩5,974 in 2Q 2022)Second quarter 2023 results: EPS: ₩624 (down from ₩5,974 in 2Q 2022). Revenue: ₩2.13t (down 58% from 2Q 2022). Net income: ₩312.6b (down 89% from 2Q 2022). Profit margin: 15% (down from 58% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 8.3% p.a. on average during the next 3 years compared to a 9.9% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth.
New Risk • Aug 13New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 36% Last year net profit margin: 60% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 43% per year for the foreseeable future. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (36% net profit margin).
Major Estimate Revision • Aug 11Consensus EPS estimates increase by 20%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ₩9.33b to ₩9.43b. EPS estimate increased from ₩2,386 to ₩2,855 per share. Net income forecast to shrink 70% next year vs 24% decline forecast for Shipping industry in South Korea. Consensus price target broadly unchanged at ₩24,200. Share price was steady at ₩17,600 over the past week.
Major Estimate Revision • Jul 25Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₩9.50b to ₩9.39b. EPS estimate also fell from ₩2,840 per share to ₩2,386 per share. Net income forecast to shrink 72% next year vs 38% decline forecast for Shipping industry in South Korea. Consensus price target of ₩24,000 unchanged from last update. Share price fell 14% to ₩16,300 over the past week.
Major Estimate Revision • Jul 19Consensus EPS estimates fall by 14%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₩3,025 to ₩2,600 per share. Revenue forecast steady at ₩9.47b. Net income forecast to shrink 70% next year vs 38% decline forecast for Shipping industry in South Korea. Consensus price target of ₩24,200 unchanged from last update. Share price was steady at ₩19,020 over the past week.
Reported Earnings • May 21First quarter 2023 earnings released: EPS: ₩446 (vs ₩6,363 in 1Q 2022)First quarter 2023 results: EPS: ₩446 (down from ₩6,363 in 1Q 2022). Revenue: ₩2.08t (down 58% from 1Q 2022). Net income: ₩285.4b (down 91% from 1Q 2022). Profit margin: 14% (down from 64% in 1Q 2022). Revenue is expected to fall by 9.9% p.a. on average during the next 3 years compared to a 10% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 66% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • May 16Consensus EPS estimates increase by 27%, revenue downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from ₩10.3b to ₩9.82b. EPS estimate rose from ₩2,809 to ₩3,569. Net income forecast to shrink 73% next year vs 31% decline forecast for Shipping industry in South Korea. Consensus price target of ₩25,000 unchanged from last update. Share price fell 5.9% to ₩18,800 over the past week.
Reported Earnings • Mar 23Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: ₩20,556 (up from ₩13,506 in FY 2021). Revenue: ₩19t (up 35% from FY 2021). Net income: ₩10t (up 89% from FY 2021). Profit margin: 54% (up from 39% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 44%. Revenue is expected to fall by 30% p.a. on average during the next 2 years compared to a 19% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 96% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Dec 21Upcoming dividend of ₩600 per shareEligible shareholders must have bought the stock before 28 December 2022. Payment date: 28 April 2023. Payout ratio is a comfortable 2.6% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.5%).
Price Target Changed • Nov 16Price target decreased to ₩26,800Down from ₩29,750, the current price target is an average from 5 analysts. New target price is 28% above last closing price of ₩21,000. Stock is down 19% over the past year. The company is forecast to post earnings per share of ₩15,851 for next year compared to ₩13,506 last year.
Board Change • Nov 16Insufficient new directorsNo 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. Chairperson of Hyundai Group Jeong-Eun Hyun was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: ₩5,327 (vs ₩5,612 in 3Q 2021)Third quarter 2022 results: EPS: ₩5,327. Revenue: ₩5.11t (up 27% from 3Q 2021). Net income: ₩2.61t (up 14% from 3Q 2021). Profit margin: 51% (down from 57% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 20% p.a. on average during the next 3 years compared to a 16% decline forecast for the Shipping industry in Asia.
Price Target Changed • Oct 02Price target decreased to ₩26,600Down from ₩29,750, the current price target is an average from 5 analysts. New target price is 44% above last closing price of ₩18,500. Stock is down 42% over the past year. The company is forecast to post earnings per share of ₩18,665 for next year compared to ₩13,506 last year.
Major Estimate Revision • Oct 01Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ₩18.0b to ₩19.5b. EPS estimate increased from ₩16,288 to ₩18,849 per share. Net income forecast to shrink 41% next year vs 23% decline forecast for Shipping industry in South Korea. Consensus price target down from ₩29,750 to ₩28,000. Share price was steady at ₩18,500 over the past week.
Price Target Changed • Aug 17Price target decreased to ₩31,000Down from ₩33,750, the current price target is an average from 6 analysts. New target price is 32% above last closing price of ₩23,450. Stock is down 43% over the past year. The company is forecast to post earnings per share of ₩16,583 for next year compared to ₩13,506 last year.
Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: ₩5,972 (vs ₩535 in 2Q 2021)Second quarter 2022 results: EPS: ₩5,972 (up from ₩535 in 2Q 2021). Revenue: ₩5.03t (up 73% from 2Q 2021). Net income: ₩2.92t (up ₩2.73t from 2Q 2021). Profit margin: 58% (up from 6.4% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is forecast to decline by 20% while the Shipping industry in South Korea is not expected to grow. Over the last 3 years on average, earnings per share has increased by 135% per year but the company’s share price has only increased by 95% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Aug 02Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be ₩31,318, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 21% in 2 years. Earnings is forecast to decline by 52% in the next 2 years.
Price Target Changed • Jun 24Price target decreased to ₩33,750Down from ₩36,750, the current price target is an average from 5 analysts. New target price is 40% above last closing price of ₩24,100. Stock is down 44% over the past year. The company is forecast to post earnings per share of ₩18,368 for next year compared to ₩13,506 last year.
Price Target Changed • Jun 09Price target increased to ₩36,750Up from ₩34,240, the current price target is an average from 5 analysts. New target price is 25% above last closing price of ₩29,450. Stock is down 33% over the past year. The company is forecast to post earnings per share of ₩16,879 for next year compared to ₩13,506 last year.
Buying Opportunity • Jun 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be ₩36,846, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 22% in 2 years. Earnings is forecast to decline by 54% in the next 2 years.
Major Estimate Revision • May 20Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from ₩17,234 to ₩12,821 per share. Revenue forecast steady at ₩16.6b. Net income forecast to shrink 11% next year vs 9.8% decline forecast for Shipping industry in South Korea. Consensus price target up from ₩34,240 to ₩35,040. Share price fell 3.1% to ₩30,150 over the past week.
Reported Earnings • May 18First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: ₩6,363 (up from ₩391 in 1Q 2021). Revenue: ₩4.92t (up 103% from 1Q 2021). Net income: ₩3.13t (up ₩2.98t from 1Q 2021). Profit margin: 64% (up from 6.3% in 1Q 2021). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates by 51%. Over the next year, revenue is expected to shrink by 4.7% compared to a 1.8% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 139% per year but the company’s share price has only increased by 105% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • May 10Now 21% undervaluedOver the last 90 days, the stock is up 17%. The fair value is estimated to be ₩36,399, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 6.1% per annum. Earnings is also forecast to decline by 27% per annum over the same time period.
Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Chairperson of Hyundai Group Jeong-Eun Hyun was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Buying Opportunity • Apr 01Now 20% undervaluedOver the last 90 days, the stock is up 7.4%. The fair value is estimated to be ₩36,255, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 8.7% per annum. Earnings is also forecast to decline by 27% per annum over the same time period.
Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improved over the past weekAfter last week's 17% share price gain to ₩33,950, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 6x in the Shipping industry in Asia. Total returns to shareholders of 802% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩35,018 per share.
Valuation Update With 7 Day Price Move • Feb 18Investor sentiment improved over the past weekAfter last week's 22% share price gain to ₩29,600, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 6x in the Shipping industry in Asia. Total returns to shareholders of 577% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩38,716 per share.
Valuation Update With 7 Day Price Move • Dec 06Investor sentiment improved over the past weekAfter last week's 15% share price gain to ₩27,150, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 7x in the Shipping industry in Asia. Total returns to shareholders of 667% over the past three years.