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← CockpitCompetitor Analysis › 451800.KS Hanwha REIT Co., Ltd.Open in the cockpit ↗

Hanwha REIT Co., Ltd.451800.KSCompetitor analysis, valuation and peers

South Korea · KRW·Real Estate›Real Estate Investment Trusts
Momentum neutral 55
Mkt cap
$584M
US dollars, full cap
Free float
50%
of shares outstanding
$/day
$426,095
20-day average traded
P/B
1.18×
price to book
ROE
4.6%
delivered
Implied ROE
5.9%
what the price asks
Close · KRW₩4,415
1D-4.5%
1W-12.9%
1M-17.3%
3M-12.4%
6M-26.1%
YTD+6.5%
1Y+10.0%
ATR %5.6%
52w lowhigh36.8% off high

What Hanwha REIT does

No business profile yet.

Hanwha REIT at a glance

Size Hanwha REIT (451800.KS) is a South Korea Real Estate company (Real Estate Investment Trusts) with a market value of $584M, the 308th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩4,415 on 6 Nov 2026.

Performance Over six months the shares fell 26.1%, against -6.5% for the median peer and -24.5% for the South Korea market (cap-weighted) — 5th lowest of 21 in its peer set.

Growth Revenue grew 13.1% over the last twelve months (peer median +1.8%); the operating margin is 62.9% (peer median 38.8%).

Valuation It trades at 1.18× book value against a peer median of 0.79× (4th most expensive of 21).

Price implies The share price implies a return on equity of about 5.9%; Hanwha REIT delivers 4.6%, so the price asks more than the business earns today.

Relative performance

70809010011 May 202611 Aug 20266 Nov 2026Peer median 93451800.KS 78
Six months, rebased to 100: Hanwha REIT against the median of its 20 peers (local-currency closes).

Hanwha REIT financials

Reported figures in KRW; fiscal year ends 2026-04-30. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₩109B₩104B₩82.4B₩46.0B₩19.2B
Revenue growth—+26%+79%+139%—
Gross profit₩70.2B₩66.1B₩51.2B₩31.1B₩13.2B
EBITDA₩81.1B₩76.9B₩61.1B₩33.4B₩15.1B
Net income₩31.5B₩29.0B₩13.6B₩5.99B₩1.20B
Free cash flow₩52.5B₩41.6B₩27.7B₩14.6B₩5.01B
Capital expenditure₩0₩0₩0₩0₩573M
Total debt₩1.16T₩803B₩789B₩337B₩327B

Quarterly statements and history in the cockpit →

Hanwha REIT competitor charts

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.

Performance: 6-month against 1-month return

-40%-20%0%-20%-10%0%+10%DCRUIVRYATOFVRAHRTCIMMHC-UNMRG-UNBDNCRPUSREICREIUHTMFA180203AP-UN8977QRI451800.KS6-month return →1-month return →
Up and to the right = strong over both horizons. Hanwha REIT is the large dot.

Fundamentals: return on equity against price-to-book

-20%-10%0%10%0.50×10×1.50×DCRUIVRYATOFVRAHRTCIMMHC-UNMRG-UNBDNCRPUSREICREIUHTMFA180203AP-UNABG8977RFFQRI451800.KSReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Hanwha REIT is the large dot.

Capital: ROE delivered against the ROE the price implies

-40%-20%0%20%-40%-20%0%20%DCRUIVRCIMMHC-UNBDNCRPUSREIUHTAP-UNABG451800.KSROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. Hanwha REIT is the large dot.

Hanwha REIT competitors and peer comparison

How Hanwha REIT compares with its peers

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.

Hanwha REIT against its 20 peers (data as of 6 Nov 2026)
Measure451800.KSPeer medianRank in peer set
1-month return-17.3%+3.4%3rd lowest of 21
6-month return-26.1%-6.5%5th lowest of 21
Return on equity4.6%4.5%11th highest of 21
Price / book1.18×0.79×4th most expensive of 21
Trailing P/E25.1×13.6×4th most expensive of 14
ROE the price implies5.9%7.0%8th least demanding of 21
ROE delivered4.6%4.5%10th highest of 19

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
Hanwha REIT 451800.KSSouth Korea$584M-26%+13%5%1.18×5.9%4.6%
Digital Core REIT DCRU.SISingapore$588M-11%+19%4%0.57×5.0%4.3%
Invesco Mortgage Capital IVRUnited States$590M-34%-105%-3%0.80×11.2%-3.5%
Atom Hoteles SOCIMI YATO.MCSpain$572M-7%-1%17%1.55×7.1%n/a
FrontView REIT FVRUnited States$566M+5%+9%0%1.03×10.5%0.4%
AH Realty Trust AHRTUnited States$607M0%-48%0%1.12×11.4%n/a
Chimera Investment CIMUnited States$612M-46%+14%0%0.41×7.5%0.0%
Flagship Communities Real Estate Investment Trust MHC-UN.TOCanada$557M+17%+16%14%0.78×4.7%14.4%
Morguard North American Residential Real Estate Investment Trust MRG-UN.TOCanada$557M-12%-1%6%0.37×4.9%5.5%
Brandywine Realty Trust BDNUnited States$551M+4%+4%-19%0.85×10.1%-18.8%
Sasseur Real Estate Investment Trust CRPU.SISingapore$621M-7%-13%5%0.76×4.1%5.3%
Schroder Real Estate Investment Trust SREI.LUnited Kingdom$548M-6%+7%5%0.71×7.8%4.7%
Custodian Property Income REIT CREI.LUnited Kingdom$545M+1%+9%11%0.83×8.0%10.6%
Universal Health Realty Income Trust UHTUnited States$544M-4%0%14%3.90×26.8%13.5%
MFA Financial MFAUnited States$628M-37%-10%-1%0.39×6.8%-0.7%
China Merchants CMET Closed Infrastructure Real Estate Investment Trust Registered Unit 180203.SZChina$541M0%+451%2%1.21×3.8%2.4%
Allied Properties Real Estate Investment Trust AP-UN.TOCanada$539M-61%-5%-43%0.21×4.3%-43.5%
Abacus ABG.AXAustralia$539M-13%-5%-5%0.55×7.0%-5.0%
Hankyu Hanshin REIT 8977.TJapan$533M-19%-38%5%0.97×4.3%5.3%
Rural Funds RFF.AXAustralia$532M-1%+7%11%0.68×8.4%10.6%
Qualitas Real Estate Income Fund Units QRI.AXAustralia$649M-6%+12%7%0.93×6.3%7.1%

Questions

Which companies are Hanwha REIT's closest peers?
The cockpit's peer set: Digital Core REIT (DCRU.SI), Invesco Mortgage Capital (IVR), Atom Hoteles SOCIMI (YATO.MC), FrontView REIT (FVR), AH Realty Trust (AHRT), Chimera Investment (CIM), Flagship Communities Real Estate Investment Trust (MHC-UN.TO), Morguard North American Residential Real Estate Investment Trust (MRG-UN.TO).
Is Hanwha REIT expensive compared with its peers?
On price / book it trades at 1.18× against a peer median of 0.79×, 4th most expensive of 21 in its peer set. The share price implies a return on equity of about 5.9%; Hanwha REIT delivers 4.6%, so the price asks more than the business earns today.
How has Hanwha REIT stock performed?
Over six months to 6 Nov 2026 the shares returned -26.1% against -6.5% for the median peer; over one year +10.0%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.