$SKHY Better than expected, just as expected—and there are a few especially important things to note:
1. Around KRW 100 trillion in total for FY2026: at least KRW 30 trillion in cash dividends and at least KRW 60 trillion in buybacks and cancellations. The KRW 60 trillion includes KRW 40 trillion in buybacks, launched in August and completed last week.
2. A new KRW 20 trillion buyback: KRW 10 trillion of it will be used for cancellation; the other roughly KRW 10 trillion will go toward employee compensation and won’t count as shareholder returns.
3. DRAM and HBM capacity is essentially sold out for the next three years.
4. 80% operating profit, with unbeatable pricing power.
After looking at SK Hynix’s third-quarter earnings report, all I can say is that the memory cycle isn’t over yet. The numbers are absolutely brutal, especially the buybacks: this year, the company will complete KRW 60 trillion in share buybacks and cancellations (that’s deflation, in crypto terms).
Keep in mind that $SKHY ’s total market cap is only KRW 1,063 trillion, so it will deflate by 5.6% in a year... That’s a much more aggressive burn than many crypto projects.
1. Around KRW 100 trillion in total for FY2026: at least KRW 30 trillion in cash dividends and at least KRW 60 trillion in buybacks and cancellations. The KRW 60 trillion includes KRW 40 trillion in buybacks, launched in August and completed last week.
2. A new KRW 20 trillion buyback: KRW 10 trillion of it will be used for cancellation; the other roughly KRW 10 trillion will go toward employee compensation and won’t count as shareholder returns.
3. DRAM and HBM capacity is essentially sold out for the next three years.
4. 80% operating profit, with unbeatable pricing power.
After looking at SK Hynix’s third-quarter earnings report, all I can say is that the memory cycle isn’t over yet. The numbers are absolutely brutal, especially the buybacks: this year, the company will complete KRW 60 trillion in share buybacks and cancellations (that’s deflation, in crypto terms).
Keep in mind that $SKHY ’s total market cap is only KRW 1,063 trillion, so it will deflate by 5.6% in a year... That’s a much more aggressive burn than many crypto projects.