Hybe Co Ltd

Hybe Co Ltd maintains a conservative capital structure with a debt-to-equity ratio of 0.33 and a strong current ratio of 3.22, indicating ample short-term liquidity. The company holds KRW 534.9 billion in cash and equivalents against KRW 1.086 trillion in long-term debt, resulting in a net cash position that is technically negative when total debt is considered, which aligns with the medium liquidity risk assessment. The market capitalization stands at KRW 9.36 trillion, trading at a price-to-book ratio of 2.87.

Profitability metrics are currently negative, with a return on equity of -0.14 and a return on assets of -0.0831, reflecting an operating loss of KRW 214.4 billion and a net income loss of KRW 237.3 billion for the latest period. The gross profit of KRW 935.9 billion suggests significant top-line efficiency, but operating expenses exceed gross margins, leading to the reported net loss. The negative EV/EBITDA of -23.25 further underscores the current unprofitability relative to enterprise value.

Revenue concentration and segment details are not explicitly provided in the available data, preventing a detailed analysis of geographic or business unit exposure. The total revenue for the latest normalized period is KRW 2.65 trillion. Without specific segment breakdowns, the revenue mix remains undifferentiated in this analysis.

Growth trajectory analysis is limited by the absence of historical period data in the input. The current revenue figure of KRW 2.65 trillion serves as the baseline, but year-over-year or quarter-over-quarter trends cannot be computed from the provided snapshot.

Key risk factors include medium liquidity risk and low dilution risk, with a specific flag noting that net cash is negative after subtracting total debt. The company’s free cash flow is negative at KRW -177.3 billion, driven by capital expenditures of KRW 61.1 billion exceeding operating cash flow of KRW 107.5 billion. This cash burn rate requires monitoring, although the strong current ratio provides a buffer against immediate solvency concerns.

Recent observations indicate strong analyst sentiment, with a mean recommendation of 1.66 (leaning towards strong buy) and a mean price target of KRW 381,045.45, which is significantly higher than the current market price of KRW 220,500. The high price target of KRW 450,000 and the absence of hold ratings suggest institutional confidence in future turnaround or growth potential, despite current profitability challenges.

Revenue grew at a 20.5% CAGR over four years, reaching 2.65 trillion KRW in fiscal 2026.

Analysts project 79.7% upside to the mean price target of 381,045 KRW from the current market price.

The company maintains a debt-to-equity ratio of 0.33, which is below the cohort median of 0.40.

Gross profit remained robust at 935.9 billion KRW in fiscal 2026 despite operating losses.

Dilution risk is assessed as low, suggesting limited immediate pressure on existing shareholder equity value.

The company faces high credit risk and medium liquidity risk according to internal risk flag assessments.

Revenue KRW 698.35B, +39,5% YoY; Operating income −1 009,1% YoY.

• ▍Revenue KRW 698.35B, +39,5% YoY
• ▍Operating income −1 009,1% YoY
• ▍Net income −363,4% YoY
• ▍Free cash flow −272,5% YoY
• ▍Net margin -22.7%

Revenue KRW 716.43B, −1,4% YoY; Operating income −521,0% YoY.

• ▍Revenue KRW 716.43B, −1,4% YoY
• ▍Operating income −521,0% YoY
• ▍Net income −820,5% YoY
• ▍Free cash flow −2 708,5% YoY
• ▍Net margin -37.0%

Revenue KRW 727.18B, +37,8% YoY; Operating income −173,5% YoY.

• ▍Revenue KRW 727.18B, +37,8% YoY
• ▍Operating income −173,5% YoY
• ▍Net income −889,1% YoY
• ▍Free cash flow −223,7% YoY
• ▍Net margin -6.9%

Revenue KRW 705.65B, +10,2% YoY; Operating income +40,9% YoY.

• ▍Revenue KRW 705.65B, +10,2% YoY
• ▍Operating income +40,9% YoY
• ▍Net income +23,8% YoY
• ▍Free cash flow +119,9% YoY
• ▍Net margin 2.6%

Revenue KRW 500.61B; Operating income KRW 21.62B.

• ▍Revenue KRW 500.61B
• ▍Operating income KRW 21.62B
• ▍Net margin 12.0%

Revenue KRW 726.42B; Operating income -KRW 41.61B.

• ▍Revenue KRW 726.42B
• ▍Operating income -KRW 41.61B
• ▍Net margin -4.0%

Revenue KRW 527.85B; Operating income KRW 56.21B.

• ▍Revenue KRW 527.85B
• ▍Operating income KRW 56.21B
• ▍Net margin 1.2%

Revenue KRW 640.46B; Operating income KRW 49.54B.

• ▍Revenue KRW 640.46B
• ▍Operating income KRW 49.54B
• ▍Net margin 2.3%

Revenue KRW 2.65T, +17,5% YoY; Operating income −371,4% YoY.

• ▍Revenue KRW 2.65T, +17,5% YoY
• ▍Operating income −371,4% YoY
• ▍Net income −2 629,7% YoY
• ▍Free cash flow −487,5% YoY
• ▍Net margin -9.0%

Revenue KRW 2.26T, +3,6% YoY; Operating income −72,6% YoY.

• ▍Revenue KRW 2.26T, +3,6% YoY
• ▍Operating income −72,6% YoY
• ▍Net income −95,0% YoY
• ▍Free cash flow −79,1% YoY
• ▍Net margin 0.4%

Revenue KRW 2.18T, +22,6% YoY; Operating income +134,9% YoY.

• ▍Revenue KRW 2.18T, +22,6% YoY
• ▍Operating income +134,9% YoY
• ▍Net income +257,9% YoY
• ▍Free cash flow +71,0% YoY
• ▍Net margin 8.6%

Revenue KRW 1.78T, +41,4% YoY; Operating income −35,5% YoY.

• ▍Revenue KRW 1.78T, +41,4% YoY
• ▍Operating income −35,5% YoY
• ▍Net income −61,8% YoY
• ▍Free cash flow −1,2% YoY
• ▍Net margin 2.9%