HB SolutionHB솔루션

HB Solution is loss-making on a trailing basis after a sharp revenue drop, with its shares down about 48% over the past year.

HB Solution makes display manufacturing equipment and related inspection and measurement tools. Over the twelve months to H1 2026 it reported revenue of ₩37.6B, an operating loss of ₩3.9B and a large positive net income of ₩46.2B, which the data does not explain. The shares closed at ₩1,440 on 2026-10-20, near the bottom of their 52-week range of ₩1,360 to ₩2,985.

What stands out

• Revenue fell from ₩131.5B in 2024 to ₩62.8B in 2025, and trailing revenue to H1 2026 is ₩37.6B.
• Trailing operating margin is -10.5%, while trailing net income is ₩46.2B, so the profit comes from items outside operations that the data does not detail.
• Trailing free cash flow is -₩45.1B, against cash of ₩91.7B and borrowings of ₩64.0B.
• The model's DCF base value is ₩219 per share, far below the ₩1,440 close, with bear and bull values of ₩128 and ₩402; these are model outputs, not forecasts.
• Recent filings include two major sales or supply contracts in July 2026, but their size and terms are not in the data, and no news headlines were available.

What to watch

• The next half-year or annual report, to see whether operating losses continue and whether the large net income repeats.
• Disclosure of the terms and value of the July 2026 supply contracts and any new contracts.
• Ownership and holding filings from September 2026 and foreign ownership, which is 1.4%, as the data shows no clear reason for the recent price fall.