# HD Hyundai Marine Solution (443060.KO)

Canonical: https://gigainvestors.com/s/443060.KO

Analysis as of: 2026-10-16T07:36:34.588Z. 

Listing currency: KRW. Reporting currency: KRW.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: KRW 216,000.00 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

## Price story

Up 65% since May 2024

Story as of 2026-10-16T10:01:27.627Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in aerospace & defense; annual sales are KRW 2 trillion.

- Source: https://eodhd.com/api/fundamentals/443060.KO.json#2025-12-31 (filed 2026-10-16T07:36:34.588Z); FY2025: revenue 1982700659420; grossProfit 454852037280; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 443060.KO: HD Hyundai Marine Solution CO.,LTD. provides integrated engineering-based services to Hyundai brand ships. The company also supplies genuine spare parts, and customized parts and services; and provides related technical services, including maintenance and repair, and workshop services. In addition, it offers genuine parts, technical support, and operation and maintenance services for stationary engine power plants. Further, the company engages in the design, installation, and commissioning of retrofit parts, such as scrubbers, BWTS, etc., as well as provides digital control and marine automation solutions, and bunkering and warranty services. Additionally, it offers performance improvement services, such as ship bow/propeller modification, slow steaming, and ship optimization; and education services in the areas of engine performance, operation, maintenance, engine components, electric systems, and engine control systems. The company was founded in 1972 and is headquartered in Busan, South Korea. HD Hyundai Marine Solution CO.,LTD. operates as a subsidiary of HD Hyundai Co., Ltd.

### Why customers stay

Margins ranged from 19.1% to 22.9% during 2023–25.

- Source: https://eodhd.com/api/fundamentals/443060.KO.json#2023-12-31 (filed 2026-10-16T07:36:34.588Z); FY2023: grossProfit / revenue = 19.1%.

- Source: https://eodhd.com/api/fundamentals/443060.KO.json#2024-12-31 (filed 2026-10-16T07:36:34.588Z); FY2024: grossProfit / revenue = 20.7%.

- Source: https://eodhd.com/api/fundamentals/443060.KO.json#2025-12-31 (filed 2026-10-16T07:36:34.588Z); FY2025: grossProfit / revenue = 22.9%.

### Where the cash goes

Spends 1.9% of cash earnings on expansion; paid dividends in 5 of 5 years.

- Source: https://eodhd.com/api/fundamentals/443060.KO.json#2021-12-31 (filed 2026-10-16T07:36:34.588Z); FY2021: growth capex 0; upkeep 6076492620; owner earnings 87937158980. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/443060.KO.json#2022-12-31 (filed 2026-10-16T07:36:34.588Z); FY2022: growth capex 0; upkeep 5552511210; owner earnings 102800584294. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/443060.KO.json#2023-12-31 (filed 2026-10-16T07:36:34.588Z); FY2023: growth capex 0; upkeep 2559170640; owner earnings 155024367314. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/443060.KO.json#2024-12-31 (filed 2026-10-16T07:36:34.588Z); FY2024: growth capex 0; upkeep 10002514520; owner earnings 225653511382. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/443060.KO.json#2025-12-31 (filed 2026-10-16T07:36:34.588Z); FY2025: growth capex 5028109961.280539; upkeep 12987634338.719461; owner earnings 265675193633.28055. Growth capex / owner earnings = 0.018925778852432077.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:34.588Z); Dividend observations: [[2021,190000000000],[2022,80000000000],[2023,90000000000],[2024,100002500000],[2025,215180208000]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 60.4% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 443060.KO SharesStats.PercentInsiders = 60.355000000000004 percentage points; cache date 2026-10-16.

### What the price says

The price is 4.9 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:34.588Z); Closing price 216000 KRW; reporting-to-trading FX 1; FY2025 annual sales per share 44225.70083659866; price multiple 4.884037921706619. FY2025 cash earnings/share 5926.094580897563. Closing-price date 2026-10-15.

## Monthly share-price history (KRW per share)

- 2024-05: KRW 131,000.00 per share

- 2024-06: KRW 130,000.00 per share

- 2024-07: KRW 135,500.00 per share

- 2024-08: KRW 104,100.00 per share

- 2024-09: KRW 103,700.00 per share

- 2024-10: KRW 137,300.00 per share

- 2024-11: KRW 133,300.00 per share

- 2024-12: KRW 161,400.00 per share

- 2025-01: KRW 170,000.00 per share

- 2025-02: KRW 126,700.00 per share

- 2025-03: KRW 133,800.00 per share

- 2025-04: KRW 153,000.00 per share

- 2025-05: KRW 179,800.00 per share

- 2025-06: KRW 205,500.00 per share

- 2025-07: KRW 204,500.00 per share

- 2025-08: KRW 213,000.00 per share

- 2025-09: KRW 210,000.00 per share

- 2025-10: KRW 240,500.00 per share

- 2025-11: KRW 186,100.00 per share

- 2025-12: KRW 193,500.00 per share

- 2026-01: KRW 183,400.00 per share

- 2026-02: KRW 184,300.00 per share

- 2026-03: KRW 179,600.00 per share

- 2026-04: KRW 265,500.00 per share

- 2026-05: KRW 224,000.00 per share

- 2026-06: KRW 224,500.00 per share

- 2026-07: KRW 184,000.00 per share

- 2026-08: KRW 207,500.00 per share

- 2026-09: KRW 238,000.00 per share

- 2026-10: KRW 228,500.00 per share

## Annual estimated value (KRW per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:42:17.365Z where newer inputs omit a numeric field or fiscal period.

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.