Shinhan Investment & Securities said on the 11th that while share-price volatility may occur in the short term as Hyundai Mobis pushes ahead with new businesses in Robotics and artificial intelligence (AI), a firm shareholder-return policy will narrow the swings. It maintained its "Buy" investment rating and raised its target price 18% to 460,000 won from 390,000 won. Hyundai Mobis's previous day's closing price was 362,000 won.
Shinhan Investment & Securities said attention should be paid to the fact that Hyundai Mobis's robot actuator business has moved past the concept stage and entered the execution stage. Earlier, at the "2025 CEO Investor Day," it formalized plans to develop and supply actuators for Humanoid Robot.
Park Gwang-rae, a researcher at Shinhan Investment & Securities, said, "A single Humanoid Robot typically carries dozens of joints and drive actuators," and explained, "These modules (joints, hands, tactile, etc.) account for about 60% of the robot's total manufacturing cost."
In particular, Hyundai Mobis is assessed to have a structure that lowers entry barriers and favors securing technological superiority when transplanting automotive technologies into precision control actuators for robots.
Hyundai Motor Group is reviewing the establishment of a robot-dedicated plant with an annual capacity of 30,000 units, targeting 2028.
Park said, "If Hyundai Mobis supplies all actuators to that plant, we estimate it would generate about 630 billion won in new annual revenue," and added, "If it wins the entire drive system on a turn-key basis, revenue of more than 1 trillion won could be expected."
He added that a solid financial structure—such as net cash of around 7 trillion won and annual free cash flow generation of 1–2 trillion won—serves as a buttress enabling investment in new businesses and shareholder returns.
Shinhan Investment & Securities explained that Hyundai Mobis aims to achieve a total shareholder return (TSR) of 30% by 2027. For 2026 results, it forecast revenue of 66.3 trillion won and operating profit of 3.8 trillion won.