Hana Pharm하나제약

Hana Pharm's trailing profits have fallen sharply from 2021 levels, and the shares are down 30% over the past year.

Hana Pharm is a South Korean prescription drug maker with a strong position in narcotic painkillers and anesthetics, selling mainly to hospitals and clinics. Trailing twelve-month revenue is about ₩247B with a net margin of 4.7% and ROE of 3.7% as of H1 2026. The share price is ₩8,260, near its 52-week low of ₩8,100 and well below its high of ₩12,000.

What stands out

• Revenue has grown modestly since 2022 (₩211B to ₩240B in 2025), but operating margin has eroded from 18.3% in 2021 to 10.8% in 2025, and net income fell from ₩28B to ₩9B over the same period.
• Trailing free cash flow of about ₩16B exceeds trailing net income of about ₩12B, while borrowings of ₩66B are well above cash of ₩12B.
• The data shows a dividend yield of 3.1%, a P/E of 12.5 and a P/B of 0.4, but the fair value model's base case of ₩24,926 is a model output, not a forecast.
• Foreign ownership is 0% now and was 0% sixty days ago, while the 20-day flows data shows net foreign selling of about ₩56M.
• Recent filings include a corrected new facility investment notice, a half-year report for June 2026, and a designation as a company for unfaithful disclosure, which was later amended to insincere disclosure company status.

What to watch

• The next filings and any further detail on the new facility investment, including its cost and timing, which the data does not provide.
• Further steps or consequences related to the July 2026 disclosure designation, which the data does not explain.
• Whether margins stabilise, given the decline from 18.3% operating margin in 2021 to 11.5% trailing; no news headlines were included in the data.