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$103,412.84 - $149,010.94$125,644.89
Multi-Stage$167,666.17 - $184,198.96$175,772.23
Blended Fair Value$150,708.56
Current Price$515,000.00
Upside-70.74%
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 Rate9.04%9.04%9.04%
Growth Rate-2.00%-1.00%0.00%
Fair Value$103,412.84$125,644.89$149,010.94
Upside / Downside-79.92%-75.60%-71.07%

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 Rate9.04%9.04%9.04%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)449,157.12453,740.36458,323.59
Year 2 PV (M)537,677.04548,706.03559,846.98
Year 3 PV (M)603,672.26622,341.24641,391.20
Year 4 PV (M)650,796.05677,768.50705,570.81
Year 5 PV (M)682,192.84717,716.20754,704.22
PV of Terminal Value (M)11,960,523.7112,583,335.9313,231,827.12
Equity Value (M)14,884,019.0215,603,608.2516,351,663.91
Shares Outstanding (M)88.7788.7788.77
Fair Value$167,666.17$175,772.23$184,198.96
Upside / Downside-67.44%-65.87%-64.23%

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