Hanmi Pharm: Rising Profitability and a 24.4% Three-Month Price Gain, With Premium Multiples

Hanmi Pharm's trailing profit margins and returns have improved steadily since 2021, and the shares closed at ₩474,500 on 2026-10-12, up 33.9% over one year. The stock trades at 28.0x earnings and 4.3x book value, and the data shows frequent filings on major management matters and shareholding changes without describing their content.

Written Oct 13, 2026 · Data as of Oct 12, 2026 · 0 views

This is not financial advice. The report does not recommend buying or selling anything.

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Thesis

The data supports an improving earnings picture: operating margin rose from 10.4% in 2021 to 16.7% in 2025 and 19.5% on a trailing basis through H1 2026, while revenue growth has been modest in recent years (0.3% in 2024, 3.5% in 2025). Net income and free cash flow are both solid, and the balance sheet looks moderate. What the data does not show is why margins improved, what the recent management filings contain, or how investors have been trading the stock, since flow, foreign ownership, short balance and news data are not available. The share price is 26.7% below its 52-week high of ₩647,000 but 57.1% above the low of ₩302,000.

Business overview

Hanmi Pharm (code 128940) is a KOSPI-listed company in the Biotech & Pharma sector, listed on 2010-07-30 with 12,810,991 shares outstanding. CEO is listed as 황상연. Market capitalization is about ₩6.1T and enterprise value about ₩6.3T. Trailing revenue is ₩1.7T, up from ₩1.2T in 2021 based on filed figures. The data gives no breakdown by product or segment, so the sources of revenue are not available here.

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Model estimate of fair value

The valuation model has no estimate for this company yet (not enough data, or no positive value with the base case).

Report history

Source: KRX statistical information