Börse Express flags 40 percent ADR gap for SK Hynix stock

Published on 10/05/2026 at 14:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 2026 revenue hit KRW 79.32 trillion, up 256.80 percent year over year. For SK Hynix stock, operating profit was KRW 60.54 trillion.

SK Hynix, KR7000660001, Illustration mit AI erstellt.

SK Hynix ADRs topped a 40 percent premium to the Seoul-listed shares on October 4, 2026, putting the valuation gap at the center of the SK Hynix stock story. Börse Express reported that the Nasdaq-listed depositary receipts closed at USD 195.13 while the Seoul shares closed at KRW 1,841,000.

ADR structure drives the gap

The spread reflects limited conversion capacity between the US depositary receipts and the Korean ordinary shares. Börse Express reported that the conversion quota had been fully used, restricting the supply of new US-listed receipts and limiting the arbitrage that could normally narrow the difference.

The same report said the US offering raised USD 26.5 billion through 177.9 million depositary receipts at an issue price of USD 149.00. Those figures explain why the Nasdaq quotation can diverge sharply from the Seoul market without representing a direct change in the value of the underlying business.

Memory profits reset the baseline

SK hynix delivered KRW 79.32 trillion of revenue in the second quarter of 2026, up 256.80 percent from the second quarter of 2025. Atsview reports that operating profit reached KRW 60.54 trillion, compared with KRW 9.21 trillion in the second quarter of 2025.

The 76.30 percent operating margin gives the stock a powerful earnings anchor, but it also raises the comparison base for future quarters. The second-quarter revenue was higher than the KRW 52.58 trillion reported for the first quarter of 2026, while net income reached KRW 93.92 trillion.

Next report arrives October 27

Investing.com identifies SK hynix as listed on the Seoul exchange under ticker 000660 and names October 27, 2026 as the next earnings date. The report will test whether the exceptional second-quarter margin can remain the central valuation support.

At the Seoul close of KRW 1,841,000 on October 2, 2026, the ordinary shares stood below the US depositary receipt on a directly comparable ownership basis. The further course of trading is shown by the continuously updated real-time quote of SK Hynix stock.