SK hynix (DB:HY9H) - Share price, News & Analysis

HY9H fundamental analysis
Snowflake Score
Valuation	6/6
Future Growth	3/6
Past Performance	4/6
Financial Health	5/6
Dividends	3/6

HY9H Stock Overview

SK hynix Inc., together with its subsidiaries, engages in the manufacture, distribution, and sale of semiconductor products worldwide.

Rewards

Trading at 46.5% below our estimate of its fair value

Earnings are forecast to grow 16.2% per year

Earnings grew by 101.9% over the past year

Risk Analysis

Unstable dividend track record

SK hynix Competitors

Apple

NasdaqGS:AAPL

US$2.3t

Taiwan Semiconductor Manufacturing

TWSE:2330

NT$13.1t

Broadcom

NasdaqGS:AVGO

US$233.4b

Intel

NasdaqGS:INTC

US$175.2b

Price History & Performance

Summary of all time highs, changes and price drops for SK hynix
Historical stock prices
Current Share Price	₩80.50
52 Week High	₩105.00
52 Week Low	₩66.50
Beta	0.78
1 Month Change	-1.23%
3 Month Change	-16.15%
1 Year Change	-15.26%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	166.56%

Shareholder Returns

	HY9H	DE Semiconductor	DE Market
7D	0%	-2.4%	-2.0%
1Y	-15.3%	-11.1%	-11.8%

Return vs Industry: HY9H underperformed the German Semiconductor industry which returned -11.1% over the past year.

Return vs Market: HY9H underperformed the German Market which returned -11.8% over the past year.

Price Volatility

Is HY9H's price volatile compared to industry and market?
HY9H volatility
HY9H Average Weekly Movement	5.7%
Semiconductor Industry Average Movement	7.2%
Market Average Movement	6.4%
10% most volatile stocks in DE Market	10.7%
10% least volatile stocks in DE Market	3.6%

Stable Share Price: HY9H is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: HY9H's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1949	29,711	n/a	https://www.skhynix.com

SK hynix Inc., together with its subsidiaries, engages in the manufacture, distribution, and sale of semiconductor products worldwide. The company offers memory semiconductor products, including DRAM, NAND flash, multi-chip package, etc.; and system semiconductors, such as CMOS image sensors, etc. Its products used in server, networking, mobile, personal computer, consumer, and automotive applications. The company was formerly known as Hynix Semiconductor Inc. and changed its name to SK hynix, Inc. in March 2012.

SK hynix Fundamentals Summary

How do SK hynix's earnings and revenue compare to its market cap?
HY9H fundamental statistics
Market Cap	₩74.95t
Earnings (TTM)	₩9.60t
Revenue (TTM)	₩43.00t

7.8x

P/E Ratio

1.7x

P/S Ratio

Is HY9H overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
HY9H income statement (TTM)
Revenue	₩43.00t
Cost of Revenue	₩24.05t
Gross Profit	₩18.95t
Other Expenses	₩9.35t
Earnings	₩9.60t

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	13.96k
Gross Margin	44.08%
Net Profit Margin	22.33%
Debt/Equity Ratio	28.3%

How did HY9H perform over the long term?

See historical performance and comparison

Dividends

1.4%

Current Dividend Yield

11%

Payout Ratio

Valuation

Is SK hynix undervalued compared to its fair value and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

46.5%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: HY9H (€80.5) is trading below our estimate of fair value (€150.41)

Significantly Below Fair Value: HY9H is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: HY9H is good value based on its PE Ratio (7.8x) compared to the German Semiconductor industry average (17.8x).

PE vs Market: HY9H is good value based on its PE Ratio (7.8x) compared to the German market (17.5x).

Price to Earnings Growth Ratio

PEG Ratio: HY9H is good value based on its PEG Ratio (0.5x)

Price to Book Ratio

PB vs Industry: HY9H is good value based on its PB Ratio (1.2x) compared to the DE Semiconductor industry average (2.8x).

Future Growth

How is SK hynix forecast to perform in the next 1 to 3 years based on estimates from 35 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

16.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HY9H's forecast earnings growth (16.2% per year) is above the savings rate (-0.05%).

Earnings vs Market: HY9H's earnings (16.2% per year) are forecast to grow faster than the German market (7.8% per year).

High Growth Earnings: HY9H's earnings are forecast to grow, but not significantly.

Revenue vs Market: HY9H's revenue (16.6% per year) is forecast to grow faster than the German market (5.3% per year).

High Growth Revenue: HY9H's revenue (16.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: HY9H's Return on Equity is forecast to be low in 3 years time (15.7%).

Past Performance

How has SK hynix performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-9.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HY9H has high quality earnings.

Growing Profit Margin: HY9H's current net profit margins (22.3%) are higher than last year (14.9%).

Past Earnings Growth Analysis

Earnings Trend: HY9H's earnings have declined by 9.3% per year over the past 5 years.

Accelerating Growth: HY9H's earnings growth over the past year (101.9%) exceeds its 5-year average (-9.3% per year).

Earnings vs Industry: HY9H earnings growth over the past year (101.9%) exceeded the Semiconductor industry 79.5%.

Return on Equity

High ROE: HY9H's Return on Equity (15.5%) is considered low.

Financial Health

How is SK hynix's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: HY9H's short term assets (₩26,870.5B) exceed its short term liabilities (₩14,769.4B).

Long Term Liabilities: HY9H's short term assets (₩26,870.5B) exceed its long term liabilities (₩19,426.1B).

Debt to Equity History and Analysis

Debt Level: HY9H's net debt to equity ratio (14.9%) is considered satisfactory.

Reducing Debt: HY9H's debt to equity ratio has increased from 17.8% to 28.3% over the past 5 years.

Debt Coverage: HY9H's debt is well covered by operating cash flow (112.3%).

Interest Coverage: HY9H's interest payments on its debt are well covered by EBIT (54.6x coverage).

Balance Sheet

Dividend

What is SK hynix current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

1.41%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: HY9H's dividend (1.41%) is higher than the bottom 25% of dividend payers in the German market (1.38%).

High Dividend: HY9H's dividend (1.41%) is low compared to the top 25% of dividend payers in the German market (4.25%).

Stability and Growth of Payments

Stable Dividend: HY9H has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: HY9H's dividend payments have increased, but the company has only paid a dividend for 7 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (11%), HY9H's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (16.7%), HY9H's dividend payments are well covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Semiconductors industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

3.7yrs

Average board tenure

CEO

SK hynix has no CEO, or we have no data on them.

Board Members

Experienced Board: HY9H's board of directors are considered experienced (3.7 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/12 00:00
End of Day Share Price	2022/05/12 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31