SK hynix

000660.KS

Semiconductors · Technology

Price

1842000.00 KRW

-240000.00 (-11.53%)

Market Cap

1307.55T KRW

Exchange

Korea Exchange

Winston Score

Winston is happy

An exceptional business — strong profitability, growth, and balance sheet.

Share count rising — dilution

+2.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 686.7M (2021) → 705.6M (2025)

SK Hynix is a South Korean company that makes memory chips — the tiny components inside computers, smartphones, and servers that store and process data. Its two main products are DRAM chips, which help devices run multiple tasks at once, and NAND flash chips, which store files and apps. Its biggest customers are large tech companies like Apple, Samsung, and major cloud computing firms.

The company earns money by selling these chips directly to device makers and data center operators around the world. SK Hynix is the second-largest memory chip maker globally, behind Samsung, and operates large manufacturing facilities in South Korea and China. Its main competitive advantage is its early leadership in high-bandwidth memory (HBM), a premium chip type used in AI processors made by Nvidia. The key risk is that memory chips are a cyclical business — prices can fall sharply during downturns, squeezing profits even when the company ships large volumes.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+198.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+386.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$6.5T/ year

↑ Rising (+46% vs prior year)

6.7% of revenue

Below sector average (15%)

R&D investment increasing — building for the future

Insider Activity

21.0%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$54.3T cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

SK hynix grew revenue 198% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

79.3%

Premium pricing power — 79.3% gross margin

Operating Margin

71.5%

Excellent — 71.5% operating margin

ROCE

18.5%

Strong — 18.5% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales YoY

+85.0%

Fast-growing sales (85.0% YoY)

EPS YoY

+185.5%

Earnings growing fast (185.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

94%

Modest — 94% of profit becomes cash

FCF Margin

31.3%

Converts sales into free cash efficiently (31.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.24

Conservative — low debt load (0.24)

Interest Cover

92.77x

Comfortably covers interest (92.8x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

17.1x

Fair value — P/E 17.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+11.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (17.1 → 5.5)

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Dividends

Dividend Yield

0.11%

Small dividend — 0.11% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+31.6%

Dividend growing fast (31.6% YoY)

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