Hanwha Solutions Corporation (009830.KS) stock analysis

In our weekly check, Hanwha Solutions Corporation is graded F (A to F). Of 23 checks on debt, profit, cash flow and trend: 7 pass, warnings: 3, red flags: 13.

About Hanwha Solutions Corporation

Hanwha Solutions Corporation is an Energy company (Solar) based in South Korea, listed on KSC as 009830.KS.

What our checks show for 009830.KS

Red flags

• Net debt is 30.6x a year of EBITDA (debt/equity 1.62). That limits room in a downturn and raises refinancing risk.
• Operating profit does not cover the interest bill (0x): interest is paid from cash or new debt.
• The net margin fell by 10.6 points over 5 years, to -4.9%: the company keeps less of each sale as profit.
• The gross margin fell by 10.4 points, to 10.1%: costs are rising faster than prices.
• Operating cash flow is negative while the company reports a profit: the profit does not arrive as cash.
• Weak EPS growth
• The company is losing money: the net margin is -4.9%.
• Free cash flow is negative (-22.7% of revenue): the business spends more cash than it brings in.
• Hanwha Solutions Corporation pays a dividend while losing money: it is funded from reserves or debt.
• The price swings a lot: 91.7% annual volatility. Expect large ups and downs.
• The stock has fallen as much as 84% from a peak. Would you have held through that?
• Return on capital (ROCE) is zero or negative: the business does not earn on the money put into it.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Analysts expect earnings per share to shrink about 21.4% a year.
• Revenue grew only 0.6% a year over the last 3 years.
• Recovering from its deepest fall took about 1.8 years.

Strengths

• Analysts expect the net margin to improve by 6.5 points from today's -4.9%.
• The share count fell by 46.5% in 2 years: the company buys back its own shares.
• Actively traded: about 3.4 million shares a day.

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Questions

What grade does Hanwha Solutions Corporation (009830.KS) have?

In our weekly check, Hanwha Solutions Corporation is graded F (A to F). Of 23 checks on debt, profit, cash flow and trend: 7 pass, warnings: 3, red flags: 13. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 009830.KS stock?

This week's biggest flags for Hanwha Solutions Corporation: High debt, Weak interest cover, Margins falling. In total 16 of 23 checks show a warning or a red flag.

What does Hanwha Solutions Corporation do?

Hanwha Solutions Corporation is an Energy company (Solar) based in South Korea, listed on KSC as 009830.KS.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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