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HMM Co Ltd (011200) Fair Value & Analysis

Industrials · KR · Market cap 19.0T KRW (≈ $13.3B) · ISIN KR7011200003

What is HMM Co Ltd really worth?

HC HMM Co Ltd 011200 · KO
Price21,050 KRW
Fair Value11,828 KRW
Upside−43.8%
Quality43/100

Below-average quality, and trading another 78% above our fair value of 11,828 KRW.

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Strengths

Solidly profitable · 13.9% net margin
Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +11.2 %/yr)
!Mixed vs. peers (4/10)
!Moderate moat 45/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 21 out of 100

For context

·3.33% dividend yield
Evidence: Medium Range 8,293 KRW – 14,785 KRW

Fair value as of: Sep 1, 2026

From 26 valuation models · updated 4 days ago

Fair value updated Sep 1, 2026, revised from 33,795 KRW to 11,828 KRW (−65.0%) since Aug 27, 2026. Share price +1.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (14,785 KRW). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 years)

42,356 KRW 12,653 KRW Fair Value 11,828 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.

How to read this chart

60‑month range 12,653 KRW – 42,356 KRW · fair‑value band 8,293 KRW – 14,785 KRW · the 21,050 KRW price screens above the 11,828 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 1, 2026.

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Analysis

HMM Co Ltd (011200) currently trades at 21,050 KRW, while our model-based Fair Value estimate is 11,828 KRW, implying the stock looks roughly 78.0% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of 36,609 KRW per share, and 19 of the 26 models we run sit above the 21,050 KRW price. Bear case: the Dividend Discount group reads lowest at 9,131 KRW, and 7 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, HMM Co Ltd generated revenue of 10.8T KRW at a net margin of 13.9%. Revenue declined 4.8% year over year. It earns a return on equity of 5.4%. Net debt stands at 504B KRW. Fundamentals as of Sep 1, 2026

Our scenario range runs from 8,293 KRW (bear case) to 14,785 KRW (bull case); at 21,050 KRW, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 17% below its 52-week high and 16% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 19% fair-value upside, at −44%, 011200 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF 23,204 KRW 35,619 KRW 55,329 KRW 77
Growth DCF 23,695 KRW 34,844 KRW 51,536 KRW 76
EPV 15,705 KRW 18,171 KRW 20,362 KRW 74
All 26 models by family
DCF Models
FCF DCF 23,204 KRW 35,619 KRW 55,329 KRW 77
Owner Earnings 19,295 KRW 29,450 KRW 45,571 KRW 73
5Y Revenue Exit 17,890 KRW 26,388 KRW 37,043 KRW 70
5Y EBITDA Exit 24,697 KRW 39,038 KRW 55,632 KRW 72
5Y P/E Exit 27,466 KRW 44,185 KRW 61,614 KRW 68
10Y Revenue Exit 19,113 KRW 27,399 KRW 38,184 KRW 65
10Y EBITDA Exit 23,986 KRW 36,353 KRW 52,614 KRW 66
10Y P/E Exit 25,787 KRW 39,996 KRW 57,258 KRW 62
Earnings-Based
Graham-Dodd 13,542 KRW 40,697 KRW 53,933 KRW 63
Lynch FV 8,643 KRW 12,347 KRW 16,051 KRW 59
PEG = 1.0 8,643 KRW 12,347 KRW 16,051 KRW 55
EPV 15,705 KRW 18,171 KRW 20,362 KRW 74
Dividend Discount
Gordon GGM 5,500 KRW 12,008 KRW 20,204 KRW 63
DDM Multi-Stage 5,500 KRW 9,131 KRW 12,514 KRW 64
Multiples
P/E Multiple 31,366 KRW 41,821 KRW 52,276 KRW 63
P/S Multiple 17,320 KRW 23,094 KRW 28,867 KRW 58
P/B Multiple 25,391 KRW 33,855 KRW 42,319 KRW 55
EV/EBIT 21,527 KRW 28,125 KRW 34,723 KRW 66
EV/EBITDA 28,405 KRW 37,296 KRW 46,187 KRW 67
EV/Revenue 15,860 KRW 21,915 KRW 27,969 KRW 54
Asset-Based
NCAV (Graham) 14,084 KRW 18,873 KRW 28,168 KRW 54
Growth DCF
Growth DCF 23,695 KRW 34,844 KRW 51,536 KRW 76
Rev-Margin DCF 17,890 KRW 26,539 KRW 36,441 KRW 71
Economic Profit
Residual Income 23,234 KRW 24,627 KRW 26,986 KRW 74
ROIC Compounder 15,705 KRW 18,171 KRW 20,362 KRW 70
Growth Earnings
Growth-Adj P/E 25,626 KRW 36,609 KRW 47,592 KRW 65

Widest divergence: Growth Earnings (36,609 KRW) versus Dividend Discount (9,131 KRW). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/S ratio 1.76 TTM
Dividend yield 3.3%
Net margin 17.2% FY2025
Return on equity 5.4% TTM
Return on assets (EBIT) 19.3% avg 5y
Operating margin 9.9% TTM
More key figures
Growth
Revenue (TTM) 10.8T KRW TTM
Revenue growth (YoY) −4.8% 3y avg −16.3%
EPS growth (YoY) −48.0%
Balance sheet & cash flow
Free cash flow 1.7T KRW FY2025
Net debt 504B KRW FY2020 · ≈ 0.3 yrs of FCF

Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 47 · Market factors (momentum, volatility) 45

Profitability 36
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 5
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

HMM Co.,Ltd, an integrated logistics company, provides shipping and logistics services in Japan and internationally. The company offers container services for general, reefer, oversized, and dangerous cargo; bulk liners; trampers that include Cape, Panamax, Supramax, and Handy; tankers, such as crude and product tankers, and LNG carriers; and heavy lifts …

Full company description

HMM Co.,Ltd, an integrated logistics company, provides shipping and logistics services in Japan and internationally. The company offers container services for general, reefer, oversized, and dangerous cargo; bulk liners; trampers that include Cape, Panamax, Supramax, and Handy; tankers, such as crude and product tankers, and LNG carriers; and heavy lifts and project carriers. It also operates container terminals and provides intermodal services using rails, barges, and trucks. In addition, the company offers digital solutions, such as Hi-Quote online reservation platform; HMM eBL; vendor partners; and invoice payments, as well as interfaces, including API, HMM EDI, HMM e-Service, and HMM Chatbot. The company was formerly known as Hyundai Merchant Marine Co.,Ltd. and changed its name to HMM Co.,Ltd in March 2020. HMM Co.,Ltd was founded in 1976 and is headquartered in Seoul, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HMM Co Ltd reported revenue of 10.9T KRW in FY2025 versus 13.8T KRW in FY2021, a compound −5.7%/yr. Reported net income was 1.9T KRW in FY2025, compounding −23.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
10.9T KRW
Latest YoY
−6.9%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−16.3%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.2%
Avg. revenue growth/yr (25Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.7%
Value creation/yr (5Y, in KRW) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−15.5% (−18.8 + 3.3)
Revenue −5.7%/yr
FY21 13.8T KRW
FY22 18.6T KRW
FY23 8.4T KRW
FY24 11.7T KRW
FY25 10.9T KRW
Net income −23.0%/yr
FY21 5.3T KRW
FY22 10.1T KRW
FY23 969B KRW
FY24 3.8T KRW
FY25 1.9T KRW

011200 screens 78% overvalued. Compare with Adani Ports and Special Economic Zone Limited →

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Cite: Fair Value Calculator (2026). "HMM Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/011200

Peer Group

Marine Shipping · 233 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 43 · Bottom 25%
Fair Value upside −44% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 2% · Below median
Net margin (TTM) 14% · Above median
Operating margin (TTM) 10% · Below median
Revenue growth −5% · Below median
Dividend yield (TTM) 3.3% · Above median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 29
FUTURE0 · sector 24
PAST21 · sector 27
HEALTH100 · sector 89
DIVIDEND67 · sector 53

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,714 ₹1,041 −39%
A.P. Møller - Mærsk A/S MAERSKA kr 20,820 kr 20,145 −3%
532921 532921 ₹1,697 ₹1,305 −23%
COSCO SHIPPING Holdings 601919 ¥16.06 ¥49.90 +211%
Hapag-Lloyd Aktiengesellschaft, HLAG €132.80 €88.00 −34%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.15 +19%
Orient Overseas (International) Limited 0316 HK$166.90 HK$237.61 +42%
Ningbo Zhoushan Port Company 601018 ¥3.39 ¥5.58 +65%
Qingdao Port International Co 601298 ¥8.69 ¥15.97 +84%
JSW Infrastructure Limited JSWINFRA ₹329.85 ₹122.71 −63%

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Frequently asked questions

Is HMM Co Ltd (011200) overvalued or undervalued?
As of Sep 1, 2026, our model estimates a fair value of 11,828 KRW versus a price of 21,050 KRW, about −44% upside (overvalued).
What is the fair value of 011200?
Our model-based fair value for HMM Co Ltd is 11,828 KRW (as of Sep 1, 2026), built from audited fundamentals. The current price: 21,050 KRW.
What is the quality score of 011200?
HMM Co Ltd has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of HMM Co Ltd (011200)?
HMM Co Ltd reported trailing-twelve-month revenue of about 10.8T KRW (latest available figure, as of Sep 1, 2026).
What is the net profit margin of 011200?
The net profit margin of HMM Co Ltd is about 13.9%, meaning it keeps roughly 13.9% of revenue as net income. Based on the latest reported figures.
Does HMM Co Ltd pay a dividend?
HMM Co Ltd currently shows a dividend yield of about 3.33% relative to its recent price (as of Sep 1, 2026).
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