Loading…
Korean maker of large marine diesel engines, built under license, that power container ships, tankers and bulk carriers.
Korean maker of large marine diesel engines, built under license, that power container ships, tankers and bulk carriers.
Builds large engines under licence for shipyards, which order after owners place newbuild contracts, so deliveries lag shipbuilding orders by about two years; aftermarket parts and service add steadier revenue. The Hanwha group, which also owns the shipyard Hanwha Ocean, controls it.
In one line: A licensed builder of ship engines, akin to a MAN Energy Solutions licensee.
Moat: narrow (licence, process know-how). Builds engines under license from MAN Energy Solutions/WinGD, tied to Korea's shipbuilding cluster.
Headquarters: Changwon, South Korea · Employees: 874
Size Hanwha Engine (082740.KS) is a South Korea Industrials company (Trucks/Construction/Farm Machinery) with a market value of $1.50B, the 171st largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩24,350 on 6 Nov 2026.
Performance Over six months the shares fell 72.3%, against -13.7% for the median peer and -24.5% for the South Korea market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 3.3% over the last twelve months (peer median +10.5%); the operating margin is 11.9% (peer median 9.0%).
Valuation It trades at 10.9× forward earnings against a peer median of 16.0× (3rd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.9 points above its cost of capital (9.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩1.37T | ₩1.37T | ₩1.20T | ₩854B | ₩764B |
| Revenue growth | — | +14% | +41% | +12% | — |
| Gross profit | ₩239B | ₩183B | ₩114B | ₩40.7B | -₩189M |
| EBITDA | ₩186B | ₩148B | ₩86.9B | ₩23.3B | -₩13.5B |
| Net income | ₩219B | ₩174B | ₩79.2B | -₩426M | -₩40.3B |
| Free cash flow | ₩252B | ₩297B | ₩39.4B | ₩39.1B | -₩30.1B |
| Capital expenditure | ₩91.6B | ₩39.0B | ₩54.5B | ₩31.4B | ₩9.66B |
| Total debt | ₩51.6B | ₩62.7B | ₩86.9B | ₩222B | ₩213B |
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 Engine 082740.KS | $1.50B | -72% | +3% | 12% | 10.9× | -0.3% |
| HD-Hyundai Marine Engine 071970.KS | $887M | -66% | +54% | 26% | 8.7× | -9.8% |
| Doosan Enerbility 034020.KS | $21.1B | -65% | +9% | 5% | 82.3× | 22.7% |
| Mitsubishi Heavy Industries 7011.T | $62.1B | -37% | -3% | 10% | 22.3× | 9.0% |
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 | 082740.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -46.2% | -2.0% | lowest of 21 |
| 6-month return | -72.3% | -13.7% | lowest of 21 |
| Distance from 52-week high | -74.2% | -34.9% | lowest of 21 |
| Revenue growth (TTM) | +3.3% | +10.5% | 7th lowest of 21 |
| Operating margin | 11.9% | 9.0% | 9th highest of 21 |
| Forward P/E | 10.9× | 16.0× | 3rd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -0.3% | 8.5% | 3rd least demanding of 16 |
| Growth delivered (Del g) | +10.6% | +12.3% | 8th lowest of 16 |
| Hurdle (Req g minus delivered) | -10.8 pp | -5.1 pp | 5th least demanding of 16 |
| ROIC minus cost of capital | +15.9 pp | -0.4 pp | 6th highest of 21 |
| EV / EBITDA | 10.0× | 9.7× | 6th most expensive of 12 |
| Net debt / EBITDA | -0.9× | 0.7× | 4th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hanwha Engine 082740.KS | South Korea | $1.50B | -72% | +3% | 12% | 10.9× | -0.3% | +10.6% |
| Bestway Marine & Energy Technology 300008.SZ | China | $1.51B | -29% | +1% | 8% | 30.6× | 14.5% | +54.0% |
| Action Construction Equipment ACE.NS | India | $1.47B | +29% | +5% | 15% | 29.0× | 29.6% | +21.7% |
| Swan Defence and Heavy Industries SWANDEF.NS | India | $1.54B | +48% | +642% | -109% | n/a | 57.1% | +113.9% |
| Weichai Heavy Machinery 000880.SZ | China | $1.44B | -33% | +58% | 2% | n/a | 6.8% | +13.1% |
| Comer Industries COM.MI | Italy | $1.43B | -18% | +31% | 10% | 13.5× | 3.1% | +17.7% |
| Lonking 3339.HK | Hong Kong | $1.57B | -14% | +22% | 12% | 7.0× | n/a | n/a |
| Hengbo 301225.SZ | China | $1.41B | -11% | +69% | 7% | 85.7× | n/a | n/a |
| Namura Shipbuilding 7014.T | Japan | $1.62B | -9% | +7% | 19% | 9.9× | -3.1% | +10.1% |
| Alamo ALG | United States | $1.63B | -18% | +2% | 7% | 11.6× | 7.0% | +6.6% |
| Ingersoll-Rand (India) INGERRAND.NS | India | $1.33B | -13% | +8% | 23% | 41.2× | 34.1% | +17.6% |
| Alimak ALIG.ST | Sweden | $1.31B | +13% | -2% | 15% | 16.6× | 8.5% | +12.9% |
| Wacker Neuson WAC.DE | Germany | $1.71B | +20% | +14% | 7% | 13.4× | 1.5% | +6.6% |
| CoCreation Grass 605099.SS | China | $1.72B | -41% | +10% | 21% | 15.4× | 2.2% | +12.3% |
| JiangSu Changling Hydraulic 605389.SS | China | $1.72B | -32% | +19% | 12% | n/a | 36.1% | +4.4% |
| Xiangyang Changyuandonggu Industry 603950.SS | China | $1.72B | -36% | -8% | 17% | 22.8× | 22.1% | +6.1% |
| BEML BEML.NS | India | $1.72B | -2% | +13% | 6% | 39.1× | n/a | n/a |
| Greenbrier Companies GBX | United States | $1.29B | -18% | -24% | 4% | 13.0× | n/a | n/a |
| Deutz DEZ.DE | Germany | $1.74B | -13% | +11% | 5% | 11.4× | 19.8% | +9.5% |
| KTK 603680.SS | China | $1.28B | -24% | -16% | 17% | n/a | -6.0% | +2.3% |
| Austal ASB.AX | Australia | $1.23B | 0% | +11% | -7% | 18.1× | n/a | n/a |