HL HoldingsHL홀딩스
060980 · KOSPI · ₩060980 · HL홀딩스
Valuation model · Sum of the parts (net asset value)
This is a holding company, so we value what it owns: its stakes in listed companies at market value, less a holding company discount.
Fair value per share
₩37,349
vs the current price (₩34,950)
- Assets before discount
- ₩558B
- Equity value
- ₩335B
Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal. This is not financial advice.
Bear / Base / Bull
- Bear
- ₩24,899
- −28.8%
- Base
- ₩37,349
- +6.9%
- Bull
- ₩52,289
- +49.6%
Bear: listed stakes 20% lower and a discount 10 points wider. Bull: the opposite.
Assumptions
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Business
- 0%
Moves the market value of the listed companies it owns up or down.
Default: 0, today's market values.
- ₩0B
Anything else it owns, minus its own debt, in ₩ billions.
Default: 0. Unlisted holdings and the company's own cash and debt aren't included unless you add them.
Discount rate
- 40%
How far below the value of its holdings the company is valued.
Default: a typical discount for Korean holding companies.
Starting point
- Shares
- 8,956,347
- Share price
- ₩34,950
- Market cap
- ₩313B
Listed stakes
| Company | Stake | Market value |
|---|---|---|
| HL Mando | 30.3% | ₩549B |
| Hyundai | 2.0% | ₩6.3B |
| Hyundai Corporation Holdings | 2.0% | ₩2.2B |
Sensitivity
Fair value per share as two inputs change; the middle is the current case.
| Listed stakes ↓ · Discount → | 20.0% | 30.0% | 40.0% | 50.0% | 60.0% |
|---|---|---|---|---|---|
| −20.0% | ₩39,839 | ₩34,859 | ₩29,879 | ₩24,899 | ₩19,919 |
| −10.0% | ₩44,819 | ₩39,216 | ₩33,614 | ₩28,012 | ₩22,409 |
| 0.0% | ₩49,799 | ₩43,574 | ₩37,349 | ₩31,124 | ₩24,899 |
| +10.0% | ₩54,778 | ₩47,931 | ₩41,084 | ₩34,237 | ₩27,389 |
| +20.0% | ₩59,758 | ₩52,289 | ₩44,819 | ₩37,349 | ₩29,879 |
Now (TTM)
- Market cap
- ₩313B
- Enterprise value
- ₩698B
- P/E
- 5.7×
- P/B
- 0.3×
- P/S
- 0.2×
- EV/EBITDA
- —
- Dividend yield
- 5.7%
Over time (at each year end)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Price | ₩44,850 | ₩34,250 | ₩33,300 | ₩30,750 | ₩45,850 |
| Market cap | ₩402B | ₩307B | ₩298B | ₩275B | ₩411B |
| P/E | 19.3× | 15.5× | 5.9× | 88.9× | 3.9× |
| P/B | 0.4× | 0.3× | 0.3× | 0.3× | 0.4× |
| P/S | 0.3× | 0.2× | 0.2× | 0.2× | 0.4× |
| EV/EBITDA | — | — | — | — | — |
| Dividend yield | 4.5% | 5.8% | — | — | — |
Versus similar companies
| Company | P/E | P/B | P/S | EV/EBITDA | Dividend yield |
|---|---|---|---|---|---|
| HL Holdings | 5.7× | 0.3× | 0.2× | — | 5.7% |
| SK Square | 3.7× | 2.2× | 98.7× | 3.6× | 0.0% |
| KB Financial Group | 8.7× | 0.9× | — | 9.5× | 2.8% |
| Shinhan Financial Group | 7.7× | 0.7× | — | 10.1× | 2.9% |
| SK | 4.9× | 1.1× | 0.3× | — | 1.5% |
| Hana Financial Group | 7.6× | 0.7× | — | 9.9× | 3.6% |
| Woori Financial Group | 6.9× | 0.6× | — | 8.3× | 4.5% |
| Similar companies (median) | 7.3× | 0.8× | 49.5× | 9.5× | 2.9% |
Calculated from end-of-day prices and filed financial statements. Not a recommendation. This is not financial advice.
Also known as: HL Holdings / HL홀딩스 / 060980 / KRX:060980
Source: KRX statistical information