HanmiGlobal한미글로벌

HanmiGlobal's trailing profits have fallen from 2024 levels and its shares are down sharply over the past year, though revenue is roughly steady.

HanmiGlobal is a Korean construction project management firm whose trailing twelve-month revenue of about ₩450B is close to its 2025 level, but operating income of about ₩23B is well below the ₩31B reported for 2025. The shares closed at ₩18,180 on 2026-10-23, down 14.4% over one year and about 48% below the 52-week high of ₩34,750.

What stands out

• Trailing revenue of ₩450B is roughly flat versus 2025's ₩449B, and operating margin has slipped from 6.8% in 2025 to about 5% on a trailing basis.
• Net income has fallen from ₩18.5B in 2025 to about ₩14.4B trailing, with ROE of 6.4% versus 8.6% in 2025.
• Valuation is low on the numbers given: P/E of 13.9, P/B of 0.8 and a 2.2% dividend yield, while the company's own DCF model shows a base value of ₩44,172, far above the current price.
• Cash of ₩100B exceeds borrowings of ₩81B, and trailing free cash flow is about ₩15B; liabilities are 84.2% of equity.
• Foreign ownership fell from 6.4% to 4.4% over about 60 days, and retail and institutional investors were net sellers over the last 20 days while foreign investors were net buyers.

What to watch

• The next quarterly results and whether operating margin recovers toward the 2024 and 2025 levels.
• Filings on the debt guarantees made for third parties in May and June 2026, and the amended half-year report from August 2026.
• Changes in the largest shareholder's holdings and 5%+ holding reports, both filed in September 2026. No news headlines were available in the data to explain recent moves.