Hyundai Glovis (086280) 🔎 In-depth
KOSPI · Price as of 2026-08-06 · Updated 2026-08-09
Hyundai Glovis is a logistics, shipping and distribution company that carries finished vehicles and parts around the world. It earns money in three main ways: shipping, moving finished vehicles across the sea on dedicated car carriers; logistics, transporting parts and cargo at home and abroad; and distribution, buying and selling auto parts and materials. In 2025 it posted revenue of ₩29.6 trillion and net profit of ₩1.7 trillion, and in Q1 2026 revenue rose 8.2% year over year to ₩7.8 trillion, extending a solid trend. What stands out lately is that, having laid out a shareholder-return plan in which it committed to ROE of 15%+ and a payout ratio of 25%+ through 2030, it is strong on high profitability and a net-cash structure when shipping rates and vehicle-export volumes hold up, but logistics-division profit can be pressured if the global container market weakens.
This page organises public market and filing data for information purposes. It is not a recommendation to buy or sell, nor investment advice. Metrics labelled “forward” are our own unverified estimates. Please verify with the original DART filings and decide at your own responsibility.
30-second brief
Pulled directly from the computed values below — not a separately written opinion.
What do the SourceComputedEstimateReading tags mean?
Source filings and exchange data · Computed calculated from public data · Estimate our own unverified projection · Reading drafted automatically, then rule-checked. See AI & Automation.
Core valuation metric
This stock's effective sub-sector is “Land Transport & Logistics” (Transportation), a type typically read first through P/E.
Land transport and logistics move with volumes and freight rates, yet earnings accumulate fairly steadily alongside the broader economy. Because results don't swing wildly, profits can be set directly against the price, so trailing P/E — based on realized earnings — is the first lens.
Price against earnings alone becomes unstable when earnings swing. Reading it together with price against assets helps gauge the downside.
This note explains how each sector is typically valued and is educational context only, not investment advice.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt ratio, current ratio and interest burden all look healthy.
- Revenue rose 4.1% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 8.2% higher than a year earlier.
- ROE is 16.1% (controlling-interest basis). It is above the sector average.
- Operating margin is 6.9%.
- A sector-metric and in-depth research verdict — see “Valuation vs peers” below for the basis.
Ownership & governance As of 2025-12-31
Largest shareholder Chung Eui-sun 20% (individual)
Controlling bloc incl. related parties 50.35%
With the controlling bloc holding 50%, control is very secure but the free float is thin.
🔎 In-depth analysis Reading
Hyundai Glovis is a specialist logistics company that carries the finished vehicles and parts made by Hyundai Motor and Kia around the world. The business splits into three parts. First is shipping, exporting and importing finished vehicles on dedicated pure car and truck carriers (PCTC). In Q1 2026 shipping revenue was ₩145 billion with operating profit of ₩192.6 billion, the highest margin of the three. Second is logistics, handling transport, warehousing and customs clearance of parts and cargo at home and abroad. Q1 logistics revenue was ₩249 billion. Third is distribution, buying and selling auto parts (knock-down, or KD, parts), non-ferrous metals and used cars. Q1 distribution revenue was ₩387 billion, the largest in size but thin in margin. In short, distribution builds the top-line bulk while shipping lifts the quality of profit.
The latest close is ₩207,500 and the market capitalization is ₩15.6 trillion. The price sits above its 20-day moving average (₩194,795) and below its 60-day moving average (₩207,800). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 57.2, a neutral level. The one-month change is +5.8%, the three-month change is -5.7%, and the position relative to the 52-week high is -28.6%. Relative strength versus the KOSPI is 44 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 44% of all stocks. Over the past three months it outpaced the index by 7.1%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Start with the valuation measures. The P/E ratio (how many times one year's earnings the price is) is 8.98x and the P/B (how many times book net assets) is 1.50x. However, 2025 net profit of ₩1.73 trillion surged 58.5% year over year, while operating profit grew only 18%. Net profit rising far faster than operating profit means non-operating factors were added, so an 8.3x based directly on last year's net profit can look lower than reality. Profitability is solid: ROE (how much it earns in a year on its equity) is 16.8%, high for the logistics sector. The balance sheet is net cash — net debt (total borrowings minus cash; negative means net cash) is about ₩-1.2 trillion, so cash exceeds debt. Debt-inclusive measures are also good: EV/EBIT (enterprise value divided by operating profit, a P/E-equivalent that reflects debt) is 6.5x, even lower than the P/E. The FCF yield (cash actually generated relative to market cap) is 12.8%, meaning it earned cash equal to about an eighth of its market cap in a single year — a sign of strong cash generation.
Over five years, revenue rose steadily from ₩21.8 trillion in 2021 to ₩29.6 trillion in 2025, and operating profit from ₩1.13 trillion to ₩2.07 trillion. That said, recent revenue growth has moderated: 2025 revenue rose just 4.1% year over year. Q1 2026 picked up pace again, with revenue up 8.2% year over year and operating profit up 3.9%. On the other hand, Q1 net profit of ₩341.0 billion fell 14.4% from a year earlier, the effect of the 2025 non-operating gains fading and the net-profit baseline normalizing. As for the outlook, the company laid it out itself: in its corporate value-up disclosure it targeted 2026 revenue of ₩31 trillion or more and operating profit of ₩2.1 trillion or more — a plan to grow revenue by 4.8%+ and operating profit by 1.3%+ over the prior year. This company's profit is heavily driven by vehicle-export volumes and dedicated car-carrier rates. Rising non-affiliate volume from Chinese local automakers and greater fleet-operating efficiency are underpinning shipping margins, a support for this year's results.
The most significant event is the company's own medium-to-long-term shareholder-return commitment. In its corporate value-up plan it laid out average ROE of 15%+ for 2024-2030, a payout ratio of 25%+ for 2025-2027, and annual dividend-per-share increases of 5%+. In 2025 the actual payout ratio was 25.1% and the dividend was ₩5,800 per share, keeping the promise. It also announced a plan to buy back and fully retire treasury stock; retirement reduces share count and increases each shareholder's stake. In June 2025 it carried out a bonus issue, granting one free share for every share held. In April and May 2026 it held several investor presentations to report results, and in May it disclosed a decision to acquire a stake in another company related to its business. In April it announced preliminary Q1 results via disclosure.
Hyundai Glovis is a logistics and shipping company that stands out for the quality of its profit and its financial stability. The strengths are clear: ROE of 16.8% is high, and with a net-cash structure and an FCF yield of 12.8% it generates cash well. That the company has itself committed in writing to a payout ratio of 25%+ and treasury-share retirement is reassuring from a shareholder's standpoint. Valuation is also low-burden: debt-inclusive EV/EBIT is a low 6.5x, and finished-vehicle logistics gives it steady cash flow. The cautions should be weighed in balance too. First, a large part of profit is tied to vehicle-export volumes and shipping rates; if the global container market weakens, logistics-division profit is pressured — in fact Q1 logistics operating profit fell 17.3%. Second, since a big axis of revenue is Hyundai Motor Group volume, it is affected by the group's vehicle-sales flow. In sum, this is a stock that is strong on high profitability and shareholder returns when vehicle exports and shipping rates hold up, and whose logistics profit can weaken when the global logistics market softens.
🔎 Valuation vs peers Undervalued
A domestic logistics and shipping group spanning finished-vehicle and cargo logistics and shipping; compared with full-service logistics (CJ Logistics) and shipping (HMM, Pan Ocean).
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| CJ Logistics | 7.37x | 0.43x | 5.72% |
| HMM | 10.75x | 0.73x | 5.37% |
| Pan Ocean | 10.38x | 0.52x | 5.35% |
The peer group's P/E ranges from 4.9x to 10.1x and P/B from 0.4x to 0.7x. Hyundai Glovis has a P/E of 8.3x and P/B of 1.4x — a higher P/B than peers, but ROE of 16.8% far exceeds the peer group's 5-11%. Because it turns capital more effectively, the higher P/B is not a premium but a reflection of the profitability gap. Debt-inclusive EV/EBIT of 6.5x is lower than the P/E, and the net-cash structure makes the valuation more attractive. That said, last year's net profit was inflated by non-operating gains, so a trailing P/E of 8.3x looks lower than reality. Reflecting the company's official operating-profit target and Q1 net-profit normalization, the forward P/E is about 9.8x, close to or slightly below the peer-group median. Accounting for high ROE, net cash and shareholder returns, it is valued on the cheap side.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩31 trillion | ₩2.1 trillion | — |
Price history Close · MA20 · MA60
The latest close is ₩207,500 and the market capitalization is ₩15.6 trillion. The price sits above its 20-day moving average (₩194,795) and below its 60-day moving average (₩207,800). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 57.2, a neutral level. The one-month change is +5.8%, the three-month change is -5.7%, and the position relative to the 52-week high is -28.6%. Relative strength versus the KOSPI is 44 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 44% of all stocks. Over the past three months it outpaced the index by 7.1%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M +7.09% / 6M -33.69% / 12M -28.02%
Key metrics Computed vs whole-market median
Valuation
The P/E of 8.98x is below the whole-market median (12.97x). The P/B of 1.50x is above the whole-market median (0.84x).
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Intrinsic value (DCF estimate) Estimate
Model output — not a price target. This is what the formula returns under the assumptions below, not a view on where the share price should go.
DCF (discounted cash flow) estimate — discount rate 9.8%, initial growth 2.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis, forward earnings power normalized 0.844x. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 16.1%, above the whole-market average (3.0%). The operating margin is 6.9%. The debt ratio is 90.9%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $18.0B | $20.0B | $20.8B | +4.08% ↓ slower |
| Operating profit | $1.1B | $1.2B | $1.5B | +18.26% ↑ faster |
| Net profit | $745.5M | $768.4M | $1.2B | +58.50% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $15.3B | $19.0B | $18.0B | $20.0B | $20.8B |
| Operating profit | $791.2M | $1.3B | $1.1B | $1.2B | $1.5B |
| Net profit | $550.2M | $838.0M | $745.5M | $768.4M | $1.2B |
| Revenue CAGR | 4-yr avg 7.94% | ||||
Revenue rose 4.1% year over year (2023 ₩25.7 trillion → 2024 ₩28.4 trillion → 2025 ₩29.6 trillion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 18.3% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 7.9%. The two-year revenue CAGR is 7.3%. In the most recent quarter (Q1 2026), revenue was 8.2% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- ROE of 16.1% points to solid profitability.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue rose 4.1% year over year, and the pace is slowing (3-year trend: rising).
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-04-23EarningsQ1 2026 consolidated preliminary results disclosed. Revenue ₩7,812.7 billion (+8.2% YoY), operating profit ₩521.5 billion (+3.9%). Higher shipping and distribution revenue defended results, while net profit fell to ₩341.0 billion as prior-year non-operating gains faded.Short term: revenue and operating profit are solid, but net profit falls on baseline normalization. Medium term: high shipping rates on non-affiliate volume and cost improvement underpin profit. Source
- 2026-03-26IRCorporate value-up plan (voluntary disclosure). Targets 2026 revenue of ₩31 trillion+ and operating profit of ₩2.1 trillion+. Includes average ROE of 15%+ for 2024-2030, a payout ratio of 25%+ for 2025-2027 with annual DPS increases of 5%+, and a treasury-share buyback-then-retirement policy.Medium term: a reference point for the company's official outlook and shareholder-return policy. Committing ROE, dividends and retirement in writing improves shareholder-return visibility. Source
- 2026-05-20FilingDecision to acquire shares and equity securities of another company. Investment execution via a business-related stake acquisition (including a May 21, 2026 correction).Medium term: portfolio expansion and investment execution. A growth investment drawing on net-cash capacity. Source
- 2026-05-29FilingCorporate governance report and large business-group status disclosure. Periodic disclosure of governance and affiliate status.Medium term: a periodic disclosure on governance transparency. Reference material for governance review linked to the shareholder-return policy. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Q1 2026 revenue | 7₩812.7 billion | 7₩812.7 billion | Confirmed | link |
| 2025 payout ratio / dividend per share | 25.1%, DPS ₩5,800 (base) | 25% , DPS 5% | Confirmed | link |
| 2026 revenue and operating profit (company outlook) | base 2025 revenue 29.57·operating profit 2.07 | 2026 revenue ₩31 trillion ·operating profit ₩2.1 trillion | Confirmed | link |
| 2026 estimated net profit / forward P/E | net profit approx. 1.47, forward PER approx. 9.8x | — | Unverified | link |
Recent filings Source
- 2026-05-29Large-business-group status disclosure
- 2026-05-29Corporate governance report
- 2026-05-21Amended filing
- 2026-05-20Disclosure
- 2026-05-18Disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-05-15Disclosure
- 2026-05-07Disclosure
- 2026-05-06OwnershipOwnership-change filing
- 2026-04-24Disclosure
- 2026-04-24Disclosure
- 2026-04-23EarningsFair-disclosure notice
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.