Hanil Holdings한일홀딩스

Hanil Holdings is a Korean cement and concrete group whose profits have shrunk sharply since 2023, though its shares trade at a low multiple of book value.

Trailing twelve-month revenue is about ₩1.87T with operating income of ₩141B (7.5% margin) and net income of ₩55B as of H1 2026. Revenue fell 14.2% in 2025 and profit is well below the 2023 and 2024 levels, while the shares are down about 1% over the past year and trade near ₩17,070, within a 52-week range of ₩15,250 to ₩23,800.

What stands out

• Net income fell from ₩119B in 2024 to ₩32B in 2025, and trailing figures to H1 2026 sit at ₩55B.
• Valuation looks low on the data given: P/E of 9.6, P/B of 0.3 and a dividend yield of 5.9%, though the filed debt level is high at 58.2% liabilities to equity and borrowings of ₩886B against cash of ₩212B.
• The company filed a corporate value-up plan on 2026-10-08, but the data does not include its contents.
• Trailing free cash flow is ₩82B, which is positive but modest relative to the debt load.
• Foreign ownership is small at 3.9%, and 20-day net flows were negative for foreign and retail investors and positive for institutions.
• The DCF fair value model gives a base of ₩54,464 against a bear of ₩12,779 and a bull of ₩136,212, a very wide range that depends heavily on its assumptions.

What to watch

• The next half-year or full-year results, to see whether margins recover from the 2025 decline.
• Further filings on changes in the largest shareholder's holdings and insider share reports, which have been frequent since July 2026.
• Details of the value-up plan and whether it is followed by concrete actions; the data does not say what is planned.