Hanwha Ocean Co Ltd

Capital Structure and Liquidity Hanwha Ocean maintains a market price of 131,800 KRW and a market cap of 40.38 trillion KRW, with a price-to-book ratio of 6.54 and a price-to-tangible-book ratio of 6.54. The company's liquidity position is characterized as medium, with a cash and equivalents balance of 777.49 billion KRW and a long-term debt of 5.78 trillion KRW. The debt-to-equity ratio of 0.94 indicates a moderate leverage position. ### Profitability and Returns The company's return on equity (ROE) is 20.19%, and its return on assets (ROA) is 6.19%, both exceeding the typical thresholds for the shipbuilding industry. The operating income of 1.17 trillion KRW and net income of 1.25 trillion KRW reflect strong profitability. The gross profit of 1.84 trillion KRW supports the company's ability to maintain margins in a competitive industry. ### Segments and Geographic Exposure Hanwha Ocean operates through three segments: Commercial Ship, Offshore and Special Ship, and Other Business. The Commercial Ship segment builds LNGCs, LPGCs, tankers, and container ships, while the Offshore and Special Ship segment focuses on FPSO, fixed platforms, drilling rigs, and special ships. The Other Business segment includes marine freight transportation and advisory services. The company's geographic exposure is primarily concentrated in Korea, with no significant international revenue diversification disclosed. ### Growth Trajectory The company's revenue for the latest period is 12.78 trillion KRW, with a gross profit margin of 14.4% and an operating margin of 9.14%. Analysts have provided a mean price target of 160,444.44 KRW and a median price target of 170,000.00 KRW, indicating a positive outlook. The mean recommendation of 1.79 suggests a generally favorable sentiment among analysts. ### Risk Factors The company faces a medium liquidity risk, with a negative net cash position after subtracting total debt. The dilution risk is assessed as low, with no significant dilution potential reported. The capital expenditure of -709.62 billion KRW indicates a focus on cost management and operational efficiency. ### Recent Events Recent analyst estimates and price targets suggest a positive outlook for the company, with a strong-buy count of 7 and a buy count of 16. The absence of a hold count further reinforces the positive sentiment.