HDC Holdings Co Ltd
HDC Holdings Co Ltd is a South Korean construction and engineering company that generates revenue primarily through infrastructure development and construction projects.
Business. HDC Holdings Co Ltd (012630.KS) is a South Korean company operating in the Construction & Engineering industry within the Industrials sector. The firm is headquartered in South Korea and is primarily listed on the Korea Exchange (KRX). Specific details regarding its operating segments and geographic revenue mix are not available.
Analyst recommendations
2 analysts · consensus BuyAt a glance
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
HDC Holdings Co Ltd (012630.KS) is a South Korean company operating in the Construction & Engineering industry within the Industrials sector. The firm is headquartered in South Korea and is primarily listed on the Korea Exchange (KRX). Specific details regarding its operating segments and geographic revenue mix are not available.
HDC Holdings maintains a debt-to-equity ratio of 1.62, indicating a capital structure that is moderately leveraged. The company's liquidity position is characterized as medium, with a current ratio of 1.63, suggesting it can cover its short-term obligations but with limited surplus. However, the company's free cash flow is negative at -95.34 billion KRW, and capital expenditures are substantial at -182.20 billion KRW, indicating ongoing investment in long-term projects.
Profitability metrics show a return on equity (ROE) of 1.23% and a return on assets (ROA) of 0.26%, both of which are below the typical thresholds for strong performance in the construction and engineering industry. The company's operating income of 84.20 billion KRW and net income of 31.97 billion KRW reflect a relatively modest profit margin, which is consistent with the capital-intensive nature of the industry.
The company's revenue is concentrated in a single business segment, as disclosed in its financial reporting, with no material geographic diversification beyond South Korea. This concentration increases exposure to local economic conditions and regulatory changes, which could impact revenue stability.
Looking ahead, the company's growth trajectory is expected to remain stable, with no significant revenue growth or decline projected in the current or next fiscal year. The company's capital expenditures suggest a focus on maintaining and expanding its infrastructure projects, which may support long-term revenue growth.
The risk assessment indicates a medium liquidity risk, primarily due to the company's negative net cash position after accounting for total debt. The dilution risk is assessed as low, with no immediate pressure for share issuance or dilution. The company's financial structure and ongoing investments suggest a moderate level of financial risk, with a focus on maintaining operational stability.
Recent events and filings do not indicate any material changes in the company's operations or financial strategy. The company's recent financial performance and capital structure remain consistent with its historical trends. Analysts have provided a mean price target of 35,000 KRW, with a mean recommendation of 1.50, indicating a generally positive outlook.
- HDC Holdings has a moderate debt load with a debt-to-equity ratio of 1.62.
- The company's ROE of 1.23% and ROA of 0.26% indicate modest profitability.
- Revenue is concentrated in a single business segment with no significant geographic diversification.
- Analysts project a stable outlook with a mean price target of 35,000 KRW.
- The company's liquidity is medium, with a current ratio of 1.63 and negative free cash flow.
Bull / Bear case
Generated · model-assistedAnalysts project 51.8% upside to a consensus target price of 35,000 KRW, reflecting strong buy sentiment.
Free cash flow surged 84.9% year-over-year, demonstrating significant improvement in cash generation capabilities.
Net income grew 29.4% year-over-year, indicating accelerating profitability despite modest revenue expansion.
Cash conversion ratio of 10.32 ranks best-in-class among 828 construction and engineering peers.
Revenue increased 4.9% year-over-year to 6.58 trillion KRW, showing top-line growth momentum.
Debt-to-equity ratio of 1.62 places the company in the bottom quartile of its peer cohort.
High credit risk flag signals significant concerns regarding the company's ability to meet financial obligations.
Return on equity of 1.23% is well below the 4.75% median for the construction cohort.
Net margin of 2.08% trails the 3.81% median, indicating weaker profitability relative to peers.
Long-term debt increased to 4.37 trillion KRW, reflecting a rising leverage burden over time.
In focus — financials by report
Revenue KRW 1.26T, −19,7% YoY.
- ▍Revenue KRW 1.26T, −19,7% YoY
Revenue KRW 1.38T, −19,9% YoY; Operating income +58,0% YoY.
- ▍Revenue KRW 1.38T, −19,9% YoY
- ▍Operating income +58,0% YoY
- ▍Net income +104,4% YoY
- ▍Free cash flow +57,0% YoY
- ▍Net margin 7.0%
Revenue KRW 1.82T, +16,1% YoY; Operating income +111,7% YoY.
- ▍Revenue KRW 1.82T, +16,1% YoY
- ▍Operating income +111,7% YoY
- ▍Net income +70,1% YoY
- ▍Free cash flow +4,0% YoY
- ▍Net margin 4.0%
Revenue KRW 1.82T, +18,1% YoY; Operating income +97,7% YoY.
- ▍Revenue KRW 1.82T, +18,1% YoY
- ▍Operating income +97,7% YoY
- ▍Net income +89,8% YoY
- ▍Free cash flow +219,3% YoY
- ▍Net margin 3.3%
Revenue KRW 1.57T; Operating income KRW 154.91B.
- ▍Revenue KRW 1.57T
- ▍Operating income KRW 154.91B
- ▍Net margin 4.5%
Revenue KRW 6.58T, +6,2% YoY; Operating income +93,1% YoY.
- ▍Revenue KRW 6.58T, +6,2% YoY
- ▍Operating income +93,1% YoY
- ▍Net income +105,7% YoY
- ▍Free cash flow +3 192,6% YoY
- ▍Net margin 4.6%
Valuation TTM
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 6 145,33 |
| Revenue | —no estimate | —no estimate | 6,95T KRW |
| Operating income | —no estimate | —no estimate | 782,8B KRW |
Options
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Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Physical assets
2 tracked| Asset | Type | Commodity | Country | Role |
|---|---|---|---|---|
| Tongyeong power station | Power | Oil & Gas | South Korea | Parent |
| Tongyeong power station | Power | Power | South Korea | Parent |
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- HDC Holdings Co Ltd Market data — financials · 2026-05-26
- HDC Holdings Co Ltd Market data — analyst estimates · 2026-05-26
- HDC Holdings Co Ltd Market data — ESG · 2026-05-26