HL HoldingsHL홀딩스

HL Holdings trades near its 52-week low, with profits down sharply from 2021 and a leveraged balance sheet.

HL Holdings is a Korean holding company that owns the HL, Halla and Mando brands, earns dividends and trademark royalties, and runs an automotive parts distribution and logistics business. Trailing results to H1 2026 show revenue of ₩1.36T, operating income of ₩127B and net income of ₩55B, while the share price is ₩34,600, close to its 52-week low of ₩34,000. The data does not include analyst ratings or price targets.

What stands out

• Trailing operating margin is 9.4% and net margin is 4.0%, both well below the 2021 levels of 13.4% operating and roughly 10% return on equity.
• Net income was ₩106B in 2021 but only ₩21B in 2025 and ₩55B on a trailing basis to H1 2026, so earnings have been volatile.
• Liabilities are 116.5% of equity, with borrowings of ₩465B against cash of ₩80B.
• The stock is down 14.4% over one year and 11.3% over one month, and is valued at 5.6 times earnings and 0.3 times book value.
• Filings in recent months were mainly contract disclosures, a debt guarantee for a subsidiary and a half-year report; the data contains no news headlines.

What to watch

• The next half-year or annual results, and whether margins hold near the trailing 9.4% level.
• Follow-up filings on the debt guarantee provided to a third party for a subsidiary, given the group's borrowings.
• Foreign ownership, which fell from 12.0% to 11.5% over 60 days, and net foreign selling over the last 20 days.