Hanwha Aerospace Co Ltd (012450) Fair Value & Analysis
Industrials · KR · Market cap 49.8T KRW (≈ $34.8B) · ISIN KR7012450003
What is Hanwha Aerospace Co Ltd really worth?
Below-average quality, and trading another 116% above our fair value of 487,447 KRW.
Strengths
Risks
For context
Fair value as of: Aug 18, 2026
From 24 valuation models · updated 17 days ago
Share price +14.8% over the past month.
What runs behind every stock
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What matters now
- The price sits above even our optimistic bull case (622,401 KRW). The favourable scenario is already priced in.
- Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.
How to read this chart
60‑month range 38,369 KRW – 1,537,000 KRW · fair‑value band 365,586 KRW – 622,401 KRW · the 1,055,000 KRW price screens above the 487,447 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 Aug 18, 2026.
Analysis
Hanwha Aerospace Co Ltd (012450) currently trades at 1,055,000 KRW, while our model-based Fair Value estimate is 487,447 KRW, implying the stock looks roughly 116.5% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of 1,181,074 KRW per share, and 9 of the 24 models we run sit above the 1,055,000 KRW price. Bear case: the Asset-Based group reads lowest at 126,123 KRW, and 15 of the 24 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Hanwha Aerospace Co Ltd generated revenue of 27.0T KRW at a net margin of 6.0%. Revenue grew 4.9% year over year. It earns a return on equity of 18.5%. Net debt stands at 4.7T KRW. Fundamentals as of Aug 18, 2026
Our scenario range runs from 365,586 KRW (bear case) to 622,401 KRW (bull case); at 1,055,000 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 near its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −54%, 012450 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.
All 24 models by family
Widest divergence: DCF Models (1,181,074 KRW) versus Asset-Based (126,123 KRW). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 38
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
Hanwha Aerospace Co., Ltd. engages in the development, production, and maintenance of aircraft engines worldwide. The company offers Korea space launch vehicle; satellite services, such as earth observation and satellite communication; fixed and rotary wing engines, guided missile engines, electric propulsion systems, aircraft and missile components, and …
Full company description
Hanwha Aerospace Co., Ltd. engages in the development, production, and maintenance of aircraft engines worldwide. The company offers Korea space launch vehicle; satellite services, such as earth observation and satellite communication; fixed and rotary wing engines, guided missile engines, electric propulsion systems, aircraft and missile components, and aircraft engine modules and parts; and artillery systems, armored vehicles, air defense systems, missile and ammunition, manned-unmanned teaming systems, and navigation systems. It also provides marine gas turbine engines and gensets; lithium battery systems; specialty and commercial ships; and offshore plants. In addition, the company offers maintenance, repair, and overhaul services for military engines; and assembly services for engines. Further, it provides energy storage systems; electromechanical actuators; and hydrogen fuel cell for aircrafts. The company was founded in 1977 and is headquartered in Changwon-Si, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hanwha Aerospace Co Ltd reported revenue of 26.7T KRW in FY2025 versus 6.4T KRW in FY2021, a compound +42.8%/yr. Reported net income was 1.4T KRW in FY2025, compounding +53.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
012450 screens 116% overvalued. Compare with General Electric Company →
Peer Group
Aerospace & Defense · 229 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.
Valuation Multiples vs Aerospace & Defense median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $335.71 | $116.71 | −65% |
| RTX Corporation RTX | $212.08 | $88.37 | −58% |
| Airbus SE AIR | €213.00 | €117.01 | −45% |
| Lockheed Martin Corporation LMT | $565.89 | $419.01 | −26% |
| Howmet Aerospace Inc HWM | $264.85 | $50.43 | −81% |
| General Dynamics Corporation GD | $379.32 | $274.32 | −28% |
| Northrop Grumman Corporation NOC | $545.57 | $356.59 | −35% |
| TransDigm Group TDG | $1,235 | $571.03 | −54% |
| L3Harris Technologies, Inc LHX | $262.82 | $146.55 | −44% |
| Thales S.A HO | €243.70 | €171.13 | −30% |
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