Hansol iOnes (114810) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Hansol iOnes earns money through a two-track parts-and-materials business, both new and reclaimed: it machines precision parts that go into semiconductor equipment (precision machining), cleans contaminated parts to bring them back to life (precision cleaning), and applies special films to surfaces (coating and anodizing). Revenue has risen for three straight years, hitting an all-time high last year, and with an ROE of 13.5% and an operating margin of 16.8% its profitability tops the industry average, while a treasury-share cancellation decision on April 23 confirms its commitment to shareholder returns. What stands out most recently is that it is strong in a phase where semiconductor-parts demand holds and quarterly margins settle back into place, whereas because revenue is heavily tied to semiconductor customers' capital spending it is affected by the industry cycle, and with quarterly margins slipping once in Q1 2026 the pace of that recovery needs to be confirmed.
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 “Display Equipment” (Semiconductors & IT Components · Semiconductor & Display Equipment), a type typically read first through forward P/E.
Equipment suppliers see orders and results move sharply ahead of and behind their customers' investment decisions, so trailing profits can miss where the business is heading. That is why forward P/E — the share price against expected future 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 26.5% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 0.6% higher than a year earlier.
- ROE is 10.8% (controlling-interest basis). It is above the sector average.
- Operating margin is 14.3%.
- 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 Hansol Technics 35.96% (corporate)
Controlling bloc incl. related parties 35.96%
With the controlling bloc holding 36%, the ownership structure is stable.
🔎 In-depth analysis Reading
Hansol iOnes machines the precision parts that go inside the equipment used to make semiconductors (precision machining), cleans parts contaminated during processing to restore their performance (precision cleaning), and applies special films to part surfaces (special coating) or treats aluminum surfaces (anodizing). Put simply, it earns money through two tracks that 'make and sell new' (new) equipment parts used by semiconductor plants and 'repair used parts so they can be used again' (reclaimed). Most of its revenue goes to domestic and overseas semiconductor device and equipment companies, so the structure is one where part orders rise together as customers' capital spending and plant-utilization rates increase. It fits the business substance to view it as a parts-and-materials business where the technical know-how of precision machining, cleaning and coating, rather than the product itself, forms the entry barrier.
The latest close is ₩9,370 and the market capitalization is ₩263.7 billion. The price sits below its 20-day moving average (₩10,459) and below its 60-day moving average (₩12,905). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 41.3, a neutral level. The one-month change is -21.5%, the three-month change is -47.3%, and the position relative to the 52-week high is -52.4%. Relative strength versus the KOSDAQ is 51 (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 51% of all stocks. Over the past three months it lagged the index by 17.8%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
On a confirmed last-year annual basis the P/E (how many times one year's net profit the price is) is 9.27x and the P/B (how many times book net asset value the price is) is 1.22x. ROE (how much is earned in a year on equity) is 13.5%, far above the industry median (about 5%), and the operating margin is 16.8%, high for a parts company. The debt ratio (debt to equity) is 121%, and the current ratio (how much of debt due within a year is covered by short-term assets) is 287%, so short-term liquidity is ample. A P/E in the 13x range and P/B of 1.78x are not burdensome for a company with this level of profitability but rather on the calm side. The forward P/B reflecting this year's expected profit is 1.51x, staying almost at the same level as last year's multiple, so even on an earnings basis the price is not heavily set.
Over five years, revenue continued double-digit growth for two straight years, from ₩123.9 billion in 2023 to ₩157.1 billion in 2024 (+26.8%) and ₩198.8 billion in 2025 (+26.5%), hitting an all-time high. Operating profit also grew sharply for two consecutive years, from ₩8.2 billion in 2023 to ₩23.1 billion in 2024 and ₩33.3 billion in 2025, with the operating margin rising alongside. The basis for growth was that new and reclaimed part orders rose together as semiconductor customers' capital spending and plant-utilization rates recovered. The forward P/E converted on this year's profit sits almost at the same place as last year's trailing P/E (13.1x). In other words, the market sees this year's earnings power at a level similar to last year's, a figure well explained by the scale of revenue growth, an operating margin in the 16% range, and the underlying base of semiconductor-parts demand. Meanwhile, in Q1 2026 revenue of ₩49.2 billion (+0.6%) held the top line, but operating profit of ₩7.1 billion (-40.2%) and net profit of ₩5.4 billion (-49.1%) saw quarterly profit slip temporarily. It was a stretch where quarterly margins wobbled due to costs and product-mix changes, and such quarterly swings do not directly cut down the annual forward-profit picture. Since the multi-year revenue trend and this year's earnings power support it together, the point to watch is whether quarterly margins settle back into place.
The recent disclosures weigh toward shareholder returns and compensation. The 2026-04-23 treasury-share cancellation decision is a decision to eliminate held treasury shares and reduce the number of issued shares, a shareholder-friendly signal that lifts per-share value. The May quarterly report disclosed confirmed Q1 2026 results, and the May stock-option grant and amendment filings are a flow of tidying up employee compensation (the point that share count rises upon future exercise is one to watch together). The April related-party loan decision is a group-related funding transaction outside the core business, an item worth continuing to check for its terms and whether it is recovered.
The strengths are distinct. With an ROE of 13.5% and an operating margin of 16.8%, profitability tops the industry average; revenue has risen for three straight years to an all-time high last year; and the commitment to shareholder returns, such as the treasury-share cancellation, is confirmed. Points to consider together are that revenue is heavily tied to semiconductor customers' capital spending and thus affected by the industry cycle, and that quarterly margins slipped once in Q1 2026. In sum, it is strong in a phase where semiconductor-parts demand holds and quarterly margins settle back into place, and it is a stock where the pace needs confirming in a phase where the margin recovery relative to the top line is slow. It is a well-balanced position worth weighing, where the strengths of profitability, growth and a low multiple sit alongside quarterly volatility.
🔎 Valuation vs peers Inconclusive
Peers were chosen whose business substance is most similar - machining precision parts for semiconductor equipment and reclaiming used parts through cleaning and coating. In particular, Komico centers on precision cleaning and coating of semiconductor parts, so its business is effectively identical.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Komico | 11.41x | 4.00x | 16.58% |
| TES | 44.25x | 6.14x | 16.01% |
| Eugene Technology | 63.25x | 5.62x | 11.96% |
Compared with the effectively identical Komico, Hansol iOnes's confirmed last-year P/E of 15.2x and P/B of 2.06x are lower than Komico's (P/E 29.2x, P/B 5.39x), so on the surface it looks like a discount. But these multiples all carry the limit of being computed on last year's finished profit (trailing). With Q1 2026 operating profit down 40% from a year earlier, it has entered an earnings-inflection point, so recomputing at the same price on this year's reduced profit raises the multiple. In other words, it looks cheap on last year's numbers, but the gap narrows once this year's profit flow is included, so rather than asserting 'undervalued' it is reasonable to judge after confirming whether the margin that dipped in Q1 recovers.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| Next quarter | Q2 2026 | approx. ₩45.9 billion | approx. ₩5.9 billion | approx. ₩5.9 billion |
Price history Close · MA20 · MA60
The latest close is ₩9,370 and the market capitalization is ₩263.7 billion. The price sits below its 20-day moving average (₩10,459) and below its 60-day moving average (₩12,905). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 41.3, a neutral level. The one-month change is -21.5%, the three-month change is -47.3%, and the position relative to the 52-week high is -52.4%. Relative strength versus the KOSDAQ is 51 (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 51% of all stocks. Over the past three months it lagged the index by 17.8%. 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 -17.79% / 6M -3.26% / 12M +2.32%
Key metrics Computed vs sector median
Valuation
The P/E of 9.27x is below the sector median (14.07x). The P/B of 1.22x is above the sector median (1.01x).
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.
Profitability & financials
Return on equity (ROE) is 10.8%, above the sector average (2.0%). The operating margin is 14.3%. The debt ratio is 17.1%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $87.1M | $110.4M | $139.7M | +26.53% ↓ slower |
| Operating profit | $5.8M | $16.2M | $23.4M | +44.44% ↓ slower |
| Net profit | $1.5M | $21.8M | $20.0M | -8.49% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $115.0M | $115.1M | $87.1M | $110.4M | $139.7M |
| Operating profit | $27.0M | $25.3M | $5.8M | $16.2M | $23.4M |
| Net profit | $19.4M | $19.9M | $1.5M | $21.8M | $20.0M |
| Revenue CAGR | 4-yr avg 4.99% | ||||
Revenue rose 26.5% year over year (2023 ₩123.9 billion → 2024 ₩157.1 billion → 2025 ₩198.8 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 44.4% year over year. The pace of that profit growth is gradually easing. Over the 5 years on record, revenue compound annual growth (CAGR) is 5.0%. The two-year revenue CAGR is 26.7%. In the most recent quarter (Q1 2026), revenue was 0.6% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- P/E and P/B are both low versus peers, so the price looks inexpensive relative to earnings and assets.
- ROE of 10.8% points to solid profitability.
- Revenue grew 26.5% year over year, a sign of growth.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- The figures shown are based on the last annual report as of the writing date, so it is best to review the latest quarterly results and filings alongside them.
Recent news & events searched · sourced
- 2026-04-23UpdateTreasury-share cancellation decision - a shareholder-return measure that cancels held treasury shares to reduce the number of issued sharesPositive for short-term supply-demand and sentiment, and over the mid term it lifts per-share net profit and net assets, raising shareholder value. Source
- 2026-05-13EarningsQuarterly report (2026.03) - Q1 revenue ₩49.2 billion, operating profit ₩7.1 billion, net profit ₩5.4 billion confirmedRevenue is similar to a year earlier, but with operating profit -40.2% and net profit -49.1%, this is the key material confirming a profit slowdown. Source
- 2026-05-12FilingFiling on the grant of stock options (including amendment) - tidying up employee compensationHas a talent-attraction effect, while it is an item carrying possible dilution as share count rises upon future exercise. Source
- 2026-04-24UpdateRelated-party loan decision - a group-related funding transaction outside the core businessA transaction that ties up some short-term cash externally, so its terms and whether it is recovered need continuing checks. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Q1 2026 operating profit | ₩7.1 billion(operating profit ₩7,118,342,006) | ₩7.1 billion | Confirmed | link |
| Business classification (semiconductor precision parts, cleaning, coating) | base sector=·(KSIC) | — | Confirmed | link |
| Fact of the treasury-share cancellation decision | 2026-04-23 (base disclosures) | 2026-04-23 | Confirmed | link |
| 2026 annual operating profit (seasonality approximation) | approx. ₩22.3 billion | — | Unverified | link |
Recent filings Source
- 2026-05-27Large-business-group status disclosure
- 2026-05-13PeriodicQuarterly report
- 2026-05-12OwnershipOwnership-change filing
- 2026-05-12Amended filing
- 2026-05-12Amended filing
- 2026-05-12Amended filing
- 2026-05-12Amended filing
- 2026-05-12Amended filing
- 2026-05-12OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-29Shareholders' meeting notice
- 2026-04-24Disclosure
- 2026-04-23Disclosure
📖 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.