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SK hynix Inc.
(000660)
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Rating:70Outperform
Price Target:
$1,475,100
Action:N/A
Date:10/28/26
Overall score reflects very strong current financial performance (profitability rebound, improved leverage, strong cash generation) partially offset by weak technical momentum (below major moving averages with negative MACD and subdued RSI). Valuation is supportive due to a low P/E, but the dividend yield is minimal and cyclicality remains a key risk to sustaining peak margins.
Positive Factors
Revenue and profit recovery
The sharp recovery in revenue and operating profit demonstrates strong demand for SK hynix memory products and improved pricing power. If data-centric applications continue expanding, this earnings rebound can strengthen reinvestment capacity and reinforce the company’s position across global memory markets.
Negative Factors
Semiconductor cyclicality
Memory semiconductors remain highly cyclical, as shown by the rapid shift from 2023 losses to unusually strong current profitability. A downturn in pricing or demand could compress margins, reduce cash generation, and make today’s earnings level difficult to sustain over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit recovery
The sharp recovery in revenue and operating profit demonstrates strong demand for SK hynix memory products and improved pricing power. If data-centric applications continue expanding, this earnings rebound can strengthen reinvestment capacity and reinforce the company’s position across global memory markets.
Read all positive factors
SK hynix Inc. (000660) vs. SPDR S&P 500 ETF (SPY)
Market Cap
₩10.00T>
Dividend Yield0.18%
Average Volume (3M)2.93M
Price to Earnings (P/E)6.8
Beta (1Y)1.78
Revenue Growth220.31%
EPS Growth412.78%
CountryKR
Employees34,549
SectorGeneral
Sector StrengthN/A
IndustrySemiconductors
Share Statistics
EPS (TTM)228870.44
Shares Outstanding730,492,400
10 Day Avg. Volume4,054,915
30 Day Avg. Volume2,933,491
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)3.73
Price to Sales (P/S)4.63
P/FCF Ratio18.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₩2,755,000.00Price Target Upside― Downside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)358,582.64
Revenue Forecast (FY)₩10.00T>
SK hynix Inc. Business Overview & Revenue Model
Company Description
SK hynix Inc., along with its affiliated companies, is a global leader in the production, distribution, and sale of semiconductor devices. The company's diverse product range includes memory solutions such as DRAM, NAND flash, and multi-chip packa...
SK hynix Inc. Earnings Call Summary
Earnings Call Date:Oct 28, 2026
(Q3-2026)
| Next Earnings Date:Jan 28, 2027
Earnings Call Sentiment Positive
The call was strongly positive, supported by record revenue and operating profit, sustained AI-driven memory demand, HBM4 production progress, expanding long-term customer commitments, improving cash generation and substantial shareholder returns. The main challenges were the discontinued Solidigm IPO review, significant foreign-exchange and investment-asset valuation losses, near-term memory supply constraints, and expected declines in PC and mobile shipments. Highlights significantly outweighed the lowlights.Positive Updates
Record Third-Quarter Revenue and Profit
Third-quarter revenue increased 32% quarter-over-quarter and 328% year-over-year to KRW 104.6 trillion, surpassing KRW 100 trillion for the first time and setting a new quarterly record. Operating profit rose 38% quarter-over-quarter and 632% year-over-year to KRW 83.3 trillion, while operating profit margin improved by 3 percentage points quarter-over-quarter to 80%, setting all-time quarterly records.
Negative Updates
Solidigm IPO Review Discontinued
Solidigm discontinued its review of potential pre-IPO and IPO options because recent financial-market volatility and the correction in semiconductor stocks meant an IPO would not fully deliver the anticipated benefits at this time.
Read all updates
Q3-2026 Updates
Positive
Negative
Record Third-Quarter Revenue and Profit
Third-quarter revenue increased 32% quarter-over-quarter and 328% year-over-year to KRW 104.6 trillion, surpassing KRW 100 trillion for the first time and setting a new quarterly record. Operating profit rose 38% quarter-over-quarter and 632% year-over-year to KRW 83.3 trillion, while operating profit margin improved by 3 percentage points quarter-over-quarter to 80%, setting all-time quarterly records.
Read all positive updates
Company Guidance
For 2027, global CSP CapEx is projected to grow by more than 60%, secured power capacity is expected to increase by over 100% year-over-year, and achievable demand growth is expected to be at a similar level to this year, with growth rates of mid-20% for DRAM and high-teen percent for NAND; the global AI data center infrastructure market is expected to grow at a high annual growth rate of 40% until 2030, while the supply constraint is projected to continue through 2030. In the fourth quarter, DRAM shipment volume is expected to grow meaningfully by mid-20% sequentially, HBM4 is expected to surpass HBM3E in both the share of total HBM shipment volumes and revenue, NAND bit shipments are expected to increase by mid-single percent sequentially, and 321-layer products are planned to exceed 50% of domestic capacity. Capital expenditures in 2027 are expected to increase significantly compared to 2026, LTAs currently cover more than 50% of total capacity for 2027 and 2028, and DRAM and HBM volumes through 2029 are effectively sold out; the company also decided to pursue shareholder return of approximately KRW 100 trillion for the 2026 fiscal year, including cash dividends of KRW 30 trillion or more and share acquisition/cancellations of KRW 60 trillion or more.SK hynix Inc. Financial Statement Overview
Summary
Income Statement
91
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.00T> | 97.15T | 66.19T | 32.77T | 44.62T | 43.00T |
| Gross Profit | 10.00T> | 58.69T | 31.83T | -533.45B | 15.63T | 18.95T |
| EBITDA | 10.00T> | 65.32T | 37.81T | 3.48T | 18.69T | 24.33T |
| Net Income | 10.00T> | 42.92T | 19.79T | -9.11T | 2.23T | 9.60T |
Balance Sheet | ||||||
| Total Assets | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 96.39T |
| Cash, Cash Equivalents and Short-Term Investments | 87.98T | 35.14T | 14.16T | 8.92T | 6.41T | 8.67T |
| Total Debt | 21.11T | 24.76T | 25.45T | 32.50T | 24.79T | 19.15T |
| Total Liabilities | 86.17T | 55.44T | 45.94T | 46.83T | 40.58T | 34.20T |
| Stockholders Equity | 10.00T> | 10.00T> | 73.90T | 53.50T | 63.27T | 62.16T |
Cash Flow | ||||||
| Free Cash Flow | 91.18T | 24.79T | 13.13T | -4.05T | -4.97T | 6.34T |
| Operating Cash Flow | 10.00T> | 53.37T | 29.80T | 4.28T | 14.78T | 19.80T |
| Investing Cash Flow | -10.00T> | -48.05T | -18.00T | -7.33T | -17.88T | -22.39T |
| Financing Cash Flow | -7.79T | -1.44T | -8.70T | 5.70T | 2.82T | 4.49T |
SK hynix Inc. Technical Analysis
Neutral
―
Price Trends
1628668.09
Negative
1844410.69
Negative
1490039.47
Negative
Market Momentum
-107737.45
Negative
49.48
Neutral
70.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:000660, the sentiment is Neutral. The current price of undefined is equal to the 20-day moving average (MA) of 1489500.00, equal to the 50-day MA of 1628668.09, and equal to the 200-day MA of 1490039.47, indicating a bearish trend. The MACD of -107737.45 indicates Negative momentum. The RSI at 49.48 is Neutral, neither overbought nor oversold. The STOCH value of 70.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for KR:000660.
SK hynix Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₩10.00T> | 6.75 | ― | 0.18% | 220.31% | 412.78% | |
67 Neutral | ₩510.70B | 7.28 | ― | 4.78% | -11.43% | -41.83% | |
64 Neutral | ₩3.94T | 12.13 | ― | 0.81% | 28.64% | 49.09% | |
61 Neutral | ₩19.30T | 84.35 | ― | 0.79% | -19.58% | 4.06% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | ₩1.47T | -67.48 | ― | 0.54% | 37.16% | -448.86% | |
43 Neutral | ₩192.08B | -6.61 | ― | 0.36% | 33.56% | 63.40% |
* General Sector Average
KR:000660
SK hynix Inc.
1,487,000.00
930,640.06
167.27%
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LX Semicon Co., Ltd.
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.