Added to YB: 2026-05-07
Pitch date: 2026-05-05
033920.KS [bullish]
Muhak Co., Ltd.
-0.79%
current return
Author Info
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Company Info
Muhak Co., Ltd. manufactures and sells liquors in South Korea. It offers diluted shochu products, fruit liquors, and liqueurs.
Market Cap
KRW 235.7B
Pitch Price
KRW 8.9K
Price Target
17.0K (+93%)
Dividend
N/A
EV/EBITDA
-2.99
P/E
4.72
EV/Sales
-0.55
Sector
Beverages
Category
value
The Soju Maker That’s Really a Hedge Fund - Muhak Co., Ltd.
033920.KS: Soju maker w/ ₩444B financial portfolio (3x revenue, 1.75x mkt cap of ₩254B) trades at 0.32x P/B despite 60-110B operating biz + 289B discounted portfolio + 40-80B real estate = 57-93% upside. Op profit down 40% to ₩10.4B in 2025 as HiteJinro took share. Choi family (61% stake) filed Value Up plan but then cross-swapped treasury shares w/ friendly cos. Catalyst: mandatory cancellation deadline + activist funds (KCGI/Align/Cha) eyeing. 6% yield. Risks: op decline, portfolio opacity, dividend cut, family slow-walk
Read full article (15 min)