Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hd Hyundai Heavy Industries Co., Ltd. (329180.KS)

Company Dividend Discount ModelIndustry: Aerospace & DefenseSector: Industrials

Valuation Snapshot

Stable Growth$99,433.06 - $142,066.49$120,348.13
Multi-Stage$155,544.62 - $170,800.12$163,024.86
Blended Fair Value$141,686.50
Current Price$515,000.00
Upside-72.49%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,292,479.71
(-) Cash Dividends Paid (M)333,875.69
(=) Cash Retained (M)958,604.02
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)258,495.94161,559.9696,935.98
Cash Retained (M)958,604.02958,604.02958,604.02
(-) Cash Required (M)-258,495.94-161,559.96-96,935.98
(=) Excess Retained (M)700,108.08797,044.06861,668.04
(/) Shares Outstanding (M)88.7788.7788.77
(=) Excess Retained per Share7,886.618,978.589,706.56
LTM Dividend per Share3,761.063,761.063,761.06
(+) Excess Retained per Share7,886.618,978.589,706.56
(=) Adjusted Dividend11,647.6712,739.6413,467.61
WACC / Discount Rate9.48%9.48%9.48%
Growth Rate-2.00%-1.00%0.00%
Fair Value$99,433.06$120,348.13$142,066.49
Upside / Downside-80.69%-76.63%-72.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,292,479.711,279,554.911,266,759.361,254,091.771,241,550.851,229,135.341,266,009.40
Payout Ratio25.83%38.67%51.50%64.33%77.17%90.00%92.50%
Projected Dividends (M)333,875.69494,749.43652,372.31806,793.25958,060.541,106,221.811,171,058.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.48%9.48%9.48%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)447,344.60451,909.34456,474.08
Year 2 PV (M)533,346.34544,286.49555,337.71
Year 3 PV (M)596,393.57614,837.45633,657.72
Year 4 PV (M)640,354.62666,894.33694,250.57
Year 5 PV (M)668,538.94703,351.32739,599.03
PV of Terminal Value (M)10,921,990.0711,490,723.4412,082,906.06
Equity Value (M)13,807,968.1514,472,002.3615,162,225.17
Shares Outstanding (M)88.7788.7788.77
Fair Value$155,544.62$163,024.86$170,800.12
Upside / Downside-69.80%-68.34%-66.83%

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