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Hanwha Group's chemicals and solar company, a major global solar-panel maker (Qcells) alongside petrochemicals and materials businesses.
Hanwha Group's chemicals and solar company, a major global solar-panel maker (Qcells) alongside petrochemicals and materials businesses.
Has three parts: Qcells, which makes solar modules and develops projects, a chemicals division making PVC, polyethylene and similar plastics, and an advanced-materials unit. Selling modules is the main driver, and its US plants in Georgia benefit from tax credits for American-made solar parts. It is part of the Hanwha Group, controlled by the Kim family.
Moat: narrow (scale, brand, regulatory licence). Qcells is a top-tier global solar brand with major US manufacturing capacity benefiting from IRA incentives.
Headquarters: Seoul, South Korea · Founded: 1965 · Employees: 5,503
Size Hanwha Solutions (009830.KS) is a South Korea Information Technology company (Semiconductors) with a market value of $4.30B, the 87th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩26,050 on 6 Nov 2026.
Performance Over six months the shares fell 48.6%, against -31.3% for the median peer and -24.5% for the South Korea market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth Revenue grew 14.4% over the last twelve months (peer median +24.3%); the operating margin is 0.0% (peer median 5.6%).
Valuation It trades at 20.1× forward earnings against a peer median of 34.3× (6th cheapest of 15).
Capital Return on invested capital runs 5.7 points below its cost of capital (5.7% WACC).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩16.2T | ₩13.3T | ₩12.4T | ₩13.1T | ₩13.1T |
| Revenue growth | — | +8% | -5% | 0% | — |
| Gross profit | n/a | ₩1.35T | ₩1.25T | ₩2.05T | ₩2.31T |
| EBITDA | n/a | ₩418B | ₩407B | ₩1.19T | ₩1.56T |
| Net income | -₩89.2B | -₩650B | -₩1.40T | -₩141B | ₩359B |
| Free cash flow | n/a | -₩3.03T | -₩3.09T | -₩2.08T | -₩875B |
| Capital expenditure | n/a | ₩2.02T | ₩3.42T | ₩2.41T | ₩942B |
| Total debt | n/a | ₩15.3T | ₩13.0T | ₩9.56T | ₩7.73T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hanwha Solutions 009830.KS | $4.30B | -49% | +14% | 0% | 20.1× | n/a |
| First Solar FSLR | $21.6B | -9% | -1% | 39% | 9.2× | 12.4% |
| JinkoSolar Holding Co., Ltd. Sponsored ADR JKS | $551M | -55% | -15% | -8% | n/a | n/a |
| Lgchem 051910.KS | $12.6B | -42% | 0% | 0% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 009830.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.9% | -15.2% | 7th lowest of 21 |
| 6-month return | -48.6% | -31.3% | 5th lowest of 19 |
| Distance from 52-week high | -56.1% | -57.5% | 11th highest of 21 |
| Revenue growth (TTM) | +14.4% | +24.3% | 8th lowest of 21 |
| Operating margin | 0.0% | 5.6% | 9th lowest of 21 |
| Forward P/E | 20.1× | 34.3× | 6th cheapest of 15 |
| ROIC minus cost of capital | -5.7 pp | -2.5 pp | 9th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hanwha Solutions 009830.KS | South Korea | $4.30B | -49% | +14% | 0% | 20.1× | n/a | n/a |
| Premier Energies PREMIERENE.NS | India | $4.28B | -13% | +32% | 25% | 19.7× | n/a | n/a |
| Applied Optoelectronics AAOI | United States | $4.26B | -66% | +62% | -11% | 23.5× | n/a | n/a |
| Shenzhen Goodix Technology 603160.SS | China | $4.35B | -2% | -7% | 6% | 51.0× | 26.7% | -6.8% |
| Hunan Goke Microelectronics 300672.SZ | China | $4.24B | -27% | +54% | 5% | 56.9× | 46.0% | +19.7% |
| Shanghai Aiko Solar Energy 600732.SS | China | $4.23B | -13% | +25% | -8% | n/a | n/a | n/a |
| Bestechnic (Shanghai) 688608.SS | China | $4.41B | +2% | -26% | 8% | 50.6× | 42.7% | +27.1% |
| eMemory Technology 3529.TWO | Taiwan | $4.17B | -58% | +17% | 61% | 45.0× | 32.2% | +16.7% |
| Chongqing Genori Technology 688797.SS | China | $4.45B | n/a | +37% | 29% | n/a | n/a | n/a |
| MaxLinear MXL | United States | $4.48B | -51% | +56% | -1% | 12.1× | n/a | n/a |
| Maxscend Microelectronics 300782.SZ | China | $4.51B | -47% | -6% | -25% | n/a | n/a | n/a |
| Macronix International 2337.TW | Taiwan | $4.52B | -53% | +127% | 38% | 1.8× | -7.5% | -6.2% |
| Jiangsu Leadmicro Nano Technology 688147.SS | China | $4.06B | -26% | -5% | 3% | 82.1× | n/a | n/a |
| Shanghai Fudan Microelectronics 1385.HK | Hong Kong | $4.55B | -48% | +21% | 13% | 12.7× | 19.3% | +18.1% |
| Chengdu Ultra Pure Applied Materials 301717.SZ | China | $4.03B | n/a | +93% | 42% | n/a | n/a | n/a |
| Allwinner Technology 300458.SZ | China | $4.02B | -25% | +26% | 15% | 57.3× | n/a | n/a |
| Powertech Technology 6239.TW | Taiwan | $4.61B | -11% | +24% | 13% | 13.2× | n/a | n/a |
| Synaptics SYNA | United States | $4.63B | -7% | +11% | -3% | 21.6× | 34.6% | -2.2% |
| Trina Solar 688599.SS | China | $3.90B | -36% | -3% | -9% | n/a | -4.3% | +17.9% |
| Loongson Technology 688047.SS | China | $3.86B | -44% | +24% | -76% | n/a | n/a | n/a |
| CSI Solar 688472.SS | China | $4.87B | -37% | -36% | -2% | 48.8× | n/a | n/a |