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SK hynix (000660) KRW

SK hynix designs, manufactures, and sells semiconductor memory products, primarily DRAM and NAND flash memory, as well as solid-state drives and multi-chip packages. It also operates a foundry business producing non-memory semiconductors for applications in servers, mobile devices, PCs, and automotive systems.

At a glance: strengths & risks
✓Revenue growing (+257% y/y, Q2 2026)✓Profit growing (+1241% y/y, Q2 2026)✓Margins improving (56%→81%, Q2 2026)✓Low leverage (0.2x EBITDA)

Sector: Memory semiconductors

KR_000660

Price chart

1 812 000 KRWDay -2.21%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
1 812 000 KRW · -2.21%
Market cap
1288468.8 bn KRW

Growth

Δ revenue y/y
256.8%
Δ EBITDA y/y
409.8%

Multiples

P/E (LTM)
8.0x
3y avg: 11.1x
P/B (FY)
10.7x
P/E (ann.)
3.4x
EV/EBITDA (LTM)
8.9x
3y avg: 7.5x
EV/EBITDA (ann.)
5.0x

Cash return

Dividend yield
0.2%
FCF yield (LTM)
1.6%

Value creation

fundamental value/yr, % of market cap
Value created / year
+78.0%
↓ details

Liquidity

Daily turnover (listing)
4756.8 bln KRW

Shares: verified/reconciled_vs_marketcap

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in T KRW, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueT KRWOperating profitT KRWD&AT KRWEBITDAT KRWNet profitT KRWOperating CFT KRWCapex + M&AT KRWAssetsT KRWEquityT KRWROE (annualized)Net debtT KRWSource
2026-06-30Q2 2026 (3M)OK79.3
y/y 256.8%
60.5
y/y 557.2%
4.0
y/y 16.7%
64.6
y/y 409.8%
93.8
y/y 1240.8%
65.4-11.1348.9
y/y 170.3%
262.7
y/y 201.5%
175.7%-5.7DART
2026-03-31Q1 2026 (3M)OK52.6
y/y 198.1%
37.6
y/y 405.5%
3.7
y/y 11.5%
41.3
y/y 283.3%
40.3
y/y 397.5%
26.3-7.9222.8
y/y 79.7%
164.4
y/y 101.8%
113.2%0.7DART
2025-12-31Q4 2025 (3M)OK32.8
y/y 66.1%
19.2
y/y 137.2%
3.6
y/y 12.5%
22.7
y/y 102.0%
15.2
y/y 90.2%
20.9-12.2176.1
y/y 46.9%
120.7
y/y 63.2%
38.9%9.8DART
2025-09-30Q3 2025 (3M)OK24.4
y/y 39.1%
11.4
y/y 61.9%
3.6
y/y 15.5%
14.9
y/y 47.8%
12.6
y/y 119.1%
14.3-5.3148.4
y/y 37.0%
100.0
y/y 53.1%
17.9%15.8DART
2025-06-30Q2 2025 (3M)OK22.2
y/y 35.4%
9.2
y/y 68.5%
3.5
y/y 10.3%
12.7
y/y 47.3%
7.0
y/y 69.8%
9.2-4.6129.1
y/y 22.2%
87.1
y/y 45.7%
33.2%15.3DART
2025-03-31Q1 2025 (3M)OK17.6
y/y 41.9%
7.4
y/y 157.8%
3.3
y/y 4.7%
10.8
y/y 77.4%
8.1
y/y 322.4%
9.0-6.5124.0
y/y 20.1%
81.4
y/y 46.7%
41.7%13.4DART
2024-12-31Q4 2024 (3M)OK19.8
y/y 74.8%
8.1
y/y 2235.8%
3.2
y/y —
11.3
y/y 3152.9%
8.0
y/y 689.5%
11.0-7.5119.9
y/y 19.5%
73.9
y/y 38.2%
28.4%14.2DART
2024-09-30Q3 2024 (3M)OK17.6
y/y 93.8%
7.0
y/y —
3.1
y/y -8.1%
10.1
y/y 547.7%
5.7
y/y —
7.8-3.8108.4
y/y 6.2%
65.3
y/y 18.2%
12.3%15.4DART
2024-06-30Q2 2024 (3M)OK16.4
y/y 124.8%
5.5
y/y —
3.1
y/y —
8.6
y/y —
4.1
y/y —
5.7-2.2105.6
y/y 2.7%
59.8
y/y 4.1%
28.6%20.1DART
2024-03-31Q1 2024 (3M)OK12.4
y/y 144.3%
2.9
y/y —
3.2
y/y —
6.1
y/y —
1.9
y/y —
5.4-3.2103.2
y/y -1.1%
55.5
y/y -9.0%
14.1%24.2DART
2023-12-31Q4 2023 (3M)OK11.3
y/y —
0.3
y/y —
—
y/y —
0.3
y/y —
-1.4
y/y —
4.0-1.8100.3
y/y —
53.5
y/y —
-16.8%24.9DART
2023-09-30Q3 2023 (3M)OK9.1
y/y —
-1.8
y/y —
3.4
y/y —
1.6
y/y —
-2.2
y/y —
1.0-1.6102.0
y/y —
55.2
y/y —
-5.2%27.5DART
2023-06-30Q2 2023 (3M)OK7.3
y/y —
-2.9
y/y —
—
y/y —
-2.9
y/y —
-3.0
y/y —
1.3-2.0102.8
y/y —
57.5
y/y —
-20.2%26.7DART
2023-03-31Q1 2023 (3M)OK5.1
y/y —
-3.4
y/y —
—
y/y —
-3.4
y/y —
-2.6
y/y —
-2.0-3.3104.4
y/y —
61.0
y/y —
—25.8DART

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)6 385 334
Long-term debt (incl. LT leases)14 727 805
− Cash & equivalents26 835 986
Net debt-5 722 847

Net debt / LTM EBITDA: -0.0x

Revenue & EBITDA

RevenueEBITDA

Quarterly values (KRW mln)

020 000 00040 000 00060 000 00080 000 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

0%200%400%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF (KRW mln)

-2 500 00002 500 0005 000 0007 500 00010 000 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash (KRW mln)

-10 000 000010 000 00020 000 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.78x of reported net profit; after capex, 0.62x. Loss years (2023) are left out of the ratio.
year20212022202320242025
cash flow / profit2.06x6.63x—1.51x1.24x
accruals, % of assets—-12.1%-13.4%-8.3%-5.9%
Last twelve months (to 2026-06-30): 0.78x of profit came back as operating cash flow.
net debt / EBITDA 0.2x · capex 1.3x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Memory cycle indicator

Composite +5 from 5 active signals as of 2026-09: upcycle intact. Each signal scores +1 / 0 / −1 by the rules below; every input enters only from the month it was actually published.
SignalValueScoreSource
Nanya revenue, 3m vs prior 3m+65.4%+1TWSE, monthly
Nanya revenue, 3m yoy+628.6%+1TWSE, monthly
DRAM spot basket, 1m–0DRAMeXchange, daily
Micron gross margin, qoq change (pp)+10.2+1SEC 10-Q
Micron inventory days, qoq change-10SEC 10-Q
Micron capex / revenue, 4q avg vs 3y median34%+1SEC 10-Q
SK hynix inventory days, qoq change-11+1DART
DRAM spot basket (DDR5 16Gb, DDR4 16Gb, DDR4 8Gb) as of 2026-09-11: 60.412 $, days of history 8
Backtest since 2006, Micron next 6 months, median (share positive, n): composite > 0 11.6% (59.0%, n=115), = 0 3.6% (70.0%, n=27), < 0 5.3% (53.0%, n=100).
2023-10 … 2026-09
Rules: Nanya ±3% over 3 months and yoy sign; spot ±2% per month; Micron gross margin ±1pp; inventory days ±5 (a build scores minus); capex below median = plus, 10pp above = minus. The index is fundamental: it dates the cycle phase, not the share price; in past cycles the stocks turned 1–2 quarters ahead of the fundamentals. Built 2026-09-11.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +77.5%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (64 572 830 − 12 667 273) × 2.22
115 426 203
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (1 288 468 806 + -5 722 847) ÷ 143 595 349
8.9x
3. Target multiple
(Current EV/EBITDA + 8) ÷ 2
= (8.9 + 8) ÷ 2
8.5x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 21 016 707 + 0 + 0 − 0
21 016 707
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (115 426 203 × 8.5 + 21 016 707) ÷ 1 288 468 806
+77.5%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +47% vs +102% the year before — a -55.3 pp move. 3-year CAGR +30%.
revenue growth by year: 2023 -27% · 2024 +102% · 2025 +47%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-28375 KRWEx-dividend: 375 KRW per sharePaidYahoo Finance (ex-div)
2026-05-28375 KRWEx-dividend: 375 KRW per sharePaidYahoo Finance (ex-div)
2026-02-261 875 KRWEx-dividend: 1 875 KRW per sharePaidYahoo Finance (ex-div)
2025-11-27375 KRWEx-dividend: 375 KRW per sharePaidYahoo Finance (ex-div)
2025-08-28375 KRWEx-dividend: 375 KRW per sharePaidYahoo Finance (ex-div)
2025-05-29375 KRWEx-dividend: 375 KRW per sharePaidYahoo Finance (ex-div)
2025-02-271 304 KRWEx-dividend: 1 304 KRW per sharePaidYahoo Finance (ex-div)
2024-09-27300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2024-06-27300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2024-03-28300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2023-12-27300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2023-09-26300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2023-06-29300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2023-03-30300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2022-12-28300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2022-09-29300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2022-06-29300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2022-03-30300 KRWEx-dividend: 300 KRW per sharePaidYahoo Finance (ex-div)
2021-12-291 540 KRWEx-dividend: 1 540 KRW per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of SK hynix (000660) — from primary filings.

Frequently asked questions

What is SK hynix (000660)'s P/E ratio?
SK hynix (000660) trades at a P/E of 8.0x (price to trailing 12-month earnings).
What is SK hynix (000660)'s EV/EBITDA?
SK hynix (000660) trades at 8.9x EV/EBITDA.
What is SK hynix (000660)'s P/B ratio?
SK hynix (000660) trades at a P/B of 10.7x.
What is SK hynix (000660)'s dividend yield?
SK hynix (000660)'s trailing 12-month dividend yield is 0.2%.
What is SK hynix (000660)'s return on equity (ROE)?
SK hynix (000660)'s ROE is 175.7%.
What is SK hynix (000660)'s market capitalization?
SK hynix (000660)'s market cap is 1288468.8 bn KRW.

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