HMM Co., Ltd. financial statements, 6 years: The debt ratio fell from 455.1% to 26.3%
Consolidated financial statements for 2020–2025 and the 2026 half-year report that HMM Co., Ltd. filed with DART, laid out by year. No interpretation or outlook.
HMM Co., Ltd. financial statements, 6 years: The debt ratio fell from 455.1% to 26.3%
The consolidated financial statements in the 2020–2025 annual reports that HMM Co., Ltd. (011200) filed with Korea’s DART electronic disclosure system, laid out by year. Figures from the 2026 half-year report cover a different period and are shown separately. Every figure below is taken as filed in the DART submissions; there is no interpretation or outlook. Amounts are in Korean won (KRW; bn = billion, tn = trillion).
1. Income statement — revenue peaked in 2022
| Fiscal year | Revenue | Revenue change | Operating income | Op. income change | Operating margin | Net income |
|---|---|---|---|---|---|---|
| 2020 | 6.41tn | — | 980.8bn | — | 15.3% | 124.0bn |
| 2021 | 13.79tn | +115.09% | 7.38tn | +652.21% | 53.5% | 5.34tn |
| 2022 | 18.58tn | +34.71% | 9.95tn | +34.89% | 53.5% | 10.09tn |
| 2023 | 8.40tn | −54.79% | 584.8bn | −94.12% | 7.0% | 968.7bn |
| 2024 | 11.70tn | +39.27% | 3.51tn | +500.72% | 30.0% | 3.78tn |
| 2025 | 10.89tn | −6.91% | 1.46tn | −58.40% | 13.4% | 1.88tn |
Revenue was largest in 2022 at KRW 18.58tn and smallest in 2020 at KRW 6.41tn among the six years. It fell from the previous year twice: 2023 (−54.79%), 2025 (−6.91%).
Operating income was largest in 2022 at KRW 9.95tn and smallest in 2023 at KRW 584.8bn. The operating margin was highest in 2022 at 53.5%.
Net income was largest in 2022 at KRW 10.09tn and smallest in 2020 at KRW 124.0bn.
2. Financial position — the debt ratio fell from 455.1% to 26.3%
| Fiscal year | Total assets | Total equity | Debt ratio | Current ratio |
|---|---|---|---|---|
| 2020 | 9.37tn | 1.69tn | 455.1% | 77.7% |
| 2021 | 17.88tn | 10.36tn | 72.6% | 347.3% |
| 2022 | 25.97tn | 20.69tn | 25.6% | 696.0% |
| 2023 | 25.71tn | 21.44tn | 19.9% | 658.5% |
| 2024 | 33.85tn | 27.86tn | 21.5% | 763.5% |
| 2025 | 33.56tn | 26.57tn | 26.3% | 581.0% |
The debt ratio was highest in 2020 at 455.1% and lowest in 2023 at 19.9%.
Over the same period total assets went from KRW 9.37tn to KRW 33.56tn (3.58x), and total equity went from KRW 1.69tn to KRW 26.57tn and became 15.74x.
The current ratio was below 100% in 1 year, 2020 — in those years current liabilities exceeded current assets.
3. Cash flow — positive in all six years
| Fiscal year | Operating cash flow | Net income | Operating CF ÷ net income | ROE |
|---|---|---|---|---|
| 2020 | 1.41tn | 124.0bn | 11.36x | 7.3% |
| 2021 | 7.51tn | 5.34tn | 1.41x | 51.5% |
| 2022 | 11.32tn | 10.09tn | 1.12x | 48.8% |
| 2023 | 1.98tn | 968.7bn | 2.04x | 4.5% |
| 2024 | 4.87tn | 3.78tn | 1.29x | 13.6% |
| 2025 | 3.31tn | 1.88tn | 1.76x | 7.1% |
Operating cash flow was positive in all six years. It was largest in 2022 at KRW 11.32tn and smallest in 2020 at KRW 1.41tn.
ROE was highest in 2021 at 51.5% and lowest in 2023 at 4.5%.
4. Latest half-year report (end of H1, 51st fiscal period, consolidated basis)
The period differs, so these figures cannot be compared directly with the annual tables above. Only cumulative figures for the same period of the previous year are compared.
| Item | 2026 cumulative | Same period last year | Change |
|---|---|---|---|
| Revenue | 6.12tn | 5.48tn | +11.74% |
| Operating income | 623.2bn | 847.1bn | −26.43% |
| Net income | 765.0bn | 1.21tn | −36.83% |
| Finance income | 285.8bn | 537.7bn | −46.86% |
| Operating cash flow | 1.17tn | — | — |
At the end of the period, total assets were KRW 37.18tn, total liabilities KRW 8.45tn and total equity KRW 28.73tn.
The cumulative operating margin was 10.2%.
5. Ownership, dividends and staff (as of the 2025 annual report)
- Largest shareholder: Korea Development Bank, stake 35.42%
- Cash dividend per share KRW 700, payout ratio 35.15%, dividend yield 3.40%
- Employees: 1,933, average pay per employee KRW 131m
How to read this
This page lays out the filed figures by year and nothing more. Financial statements do not say why the numbers moved, so neither do we.
The order of publication follows revenue in the latest fiscal year and has nothing to do with the content.
To check the same figures, search for the company on DART and open the consolidated financial statements in its annual reports. Every number here was computed from the 2020–2025 annual reports and the interim report downloaded through the OpenDART API on 2026-10-15; ratios divide the filed account amounts.
This article is for information only and is not investment advice.