HB TechnologyHB테크놀러지

HB Technology's shares have fallen sharply over the past year, though trailing results have returned to profit in the first half of 2026.

HB Technology makes OLED inspection and repair equipment, secondary battery inspection tools, and light guide and diffusion plates for LCD TVs. On trailing twelve-month figures to H1 2026 it reported revenue of ₩152.9B, operating income of ₩10.2B and net income of ₩49.3B, with the share price at ₩1,800 on 26 October 2026, down 12.2% over one year. The data does not explain the gap between the large net income and the much smaller operating income.

What stands out

• Trailing operating margin is 6.7% and net margin is 32.2%, and net income is far above operating income, which the data does not explain.
• Full-year 2025 revenue was ₩160.3B, down 1.3%, with operating income of ₩6.2B after large losses in 2023 and 2024.
• Cash of ₩69.6B exceeds borrowings of ₩44.97B on the trailing figures, and free cash flow was ₩14.5B.
• Valuation metrics are low, with P/E of 3.5 and P/B of 0.5, and the dividend yield is 1.1%.
• Foreign ownership fell from 2% to 0% over 60 days, and foreign investors were net sellers over the last 20 days.

What to watch

• The Q3 2026 quarterly report, since the data lists only the half-year report and earlier filings.
• Follow-up on the July 2026 conversion rights exercise and the May 2026 treasury share sale decision, which could affect the share count.
• Whether the company's customer base in OLED and battery equipment holds up, since the data shows no news headlines to confirm recent developments.