Rankings Semiconductors SK hynix

SK hynix

Semiconductors · United StatesRank 113 of 829Prices 2 Nov 2026Model 1.470+ zone

15070100

In the 70+ zone: a score above 70 with more than 20% upside to the median analyst target.

Biggest deductions

Multiples vs own history and peers−12
Quality of growth−7
Competition in HBM−5

Strengths

Net cash+2
Market position+2

How the score is built

From 100 to 81, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.

100Start

81Score

Hover or select a step to see what drove it. Steps with findings open them below.

Key numbers

As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.

Price: 147.71 USD
Median analyst target: 255.00 USD
Upside to median: +72.6%
Analysts: 15
Target range: 164.00 – 400.00 USD
52-week change: –
P/E (trailing): 7.6
Forward P/E: 4.0
PEG: n/a

Findings

Every deduction and every plus, with its source. Open a step to read them.

Business

Is the company getting stronger, not just bigger? · 2 findings−9 of −30

Quality of growth
The operating margin was 76% in Q2 2026 versus a loss in 2023, and ROIC is 62%. The Q2 uplift was largely price-driven: the average price of DRAM rose 30% and of NAND about 55% in a single quarter. HBM leadership is a real advantage, but the rest is a commodity cycle at its peak.
khan.co.kr
−7
Earnings quality and capital intensity
TTM net income (KRW 162tn) is higher than operating profit (KRW 129tn) because it includes an investment gain of about KRW 73tn. Capex has risen from KRW 8.3tn in 2023 to KRW 35.2tn (TTM).
stockanalysis.com
−2

Price

Today's multiples against the company's own history and its peers. · 1 finding−12 of −35

Multiples vs own history and peers
P/B 5.4 versus 0.8-1.8 in 2021-2024 and 3.7 in 2025; P/S 7.5 versus 1.2-3.0 and 4.6; EV/EBITDA 9.6 versus 3.4-4.3 in normal years and 7.3 in 2025. Forward P/E 4.2 is calculated on peak earnings (cycle trap). Cheaper than Micron (P/B 8.4, EV/EBITDA 10.1) and P/FCF 13 (FCF yield about 7.5%), but the price still assumes that peak prices hold.
stockanalysis.com
−12

Cracks

Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−12 of −35

Competition in HBM
Samsung has passed Nvidia's HBM4 qualification, and TrendForce expects SK hynix's share of HBM bit production to fall from 59% in 2025 to 50% in 2026, while Samsung's rises from 20% to 28%. This pressures both share and prices in the segment that carries the premium.
fintool.com
−5
Cycle and sentiment
The stock fell more than 15% in Seoul the day after the Nasdaq debut in July (largest drop in almost 20 years) on fears of a cycle peak and has been approx. 38% below its peak. Q2 operating profit (60.5tn KRW) missed consensus (64.1tn), and the ADR has fallen 12.7% in the past week.
advisorperspectives.com
−4
Customer concentration
According to industry sources, SK hynix gets approx. two thirds (close to 70%) of Nvidia's HBM4 needs for Vera Rubin. The HBM business is therefore heavily dependent on one customer that is actively qualifying Samsung and Micron as alternatives.
trendforce.com
−3

Plus

Only documented strengths. · 2 findings+4 of +15

Net cash
Cash of about KRW 88 trillion and net cash of about KRW 69.4 trillion (about $43bn, about 5% of market cap) at the end of Q2 2026.
quartr.com
+2
Market position
Market leader in HBM with about 57-58% of revenue (Counterpoint) against Samsung's 22% and Micron's 21%; HBM4 deliveries started in Q2, and bit growth in H2 is expected to be higher than in H1.
cryptobriefing.com
+2

Caveats

What the score does not capture, or where the data is weak.

SKHY is an ADR (10 ADRs = 1 ordinary share, ISIN US78392B2060), listed on Nasdaq on 10 Jul 2026 at USD 149 in an offering of about USD 26.5bn; the primary listing is Seoul (000660, KRW). Nordnet DK has it as 'SK hynix ADR' (tradable, slug sk-hynix-adr-skhy-xnas, checked via Nordnet's search on 11 Oct). T2 uses stockanalysis's history, which is based on the KRW primary listing 2021-2025. Nordnet shows P/B of 7.7 versus stockanalysis's 5.4 - a possible ADR premium relative to Seoul has not been investigated. TTM net income includes an investment gain of about KRW 73tn, so trailing P/E is too low. China exposure (DRAM fab in Wuxi, US export rules), insider trading and capex guidance for 2026-27 have not been investigated. The Q3 report is expected on 27 Oct (stockanalysis says 13 Nov).