Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hyundai Rotem Company (064350.KS)

Company Dividend Discount ModelIndustry: RailroadsSector: Industrials

Valuation Snapshot

Stable Growth$1,027,751.18 - $1,211,820.02$1,135,209.55
Multi-Stage$947,192.44 - $1,043,925.97$994,616.65
Blended Fair Value$1,064,913.10
Current Price$219,000.00
Upside386.26%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS23.28%-0.60%100.000.000.0062.2662.2635.1237.7519.3345.401.59
YoY Growth--0.00%0.00%-100.00%0.00%77.27%-6.97%95.26%-57.41%2,747.48%-98.50%
Dividend Yield--0.10%0.00%0.00%0.31%0.31%0.28%0.16%0.12%0.22%0.01%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)692,657.63
(-) Cash Dividends Paid (M)21,828.46
(=) Cash Retained (M)670,829.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)138,531.5386,582.2051,949.32
Cash Retained (M)670,829.17670,829.17670,829.17
(-) Cash Required (M)-138,531.53-86,582.20-51,949.32
(=) Excess Retained (M)532,297.64584,246.97618,879.85
(/) Shares Outstanding (M)109.14109.14109.14
(=) Excess Retained per Share4,877.335,353.345,670.67
LTM Dividend per Share200.01200.01200.01
(+) Excess Retained per Share4,877.335,353.345,670.67
(=) Adjusted Dividend5,077.345,553.355,870.68
WACC / Discount Rate-7.00%-7.00%-7.00%
Growth Rate1.21%2.21%3.21%
Fair Value$1,027,751.18$1,135,209.55$1,211,820.02
Upside / Downside369.29%418.36%453.34%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)692,657.63707,962.08723,604.69739,592.93755,934.43772,637.00795,816.11
Payout Ratio3.15%20.52%37.89%55.26%72.63%90.00%92.50%
Projected Dividends (M)21,828.46145,281.79274,179.93408,703.21549,037.31695,373.30736,129.91

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-7.00%-7.00%-7.00%
Growth Rate1.21%2.21%3.21%
Year 1 PV (M)154,694.73156,223.19157,751.65
Year 2 PV (M)310,859.66317,032.90323,266.83
Year 3 PV (M)493,402.24508,172.39523,234.41
Year 4 PV (M)705,763.63734,072.93763,225.45
Year 5 PV (M)951,787.04999,746.071,049,619.16
PV of Terminal Value (M)100,757,233.80105,834,229.49111,113,850.72
Equity Value (M)103,373,741.10108,549,476.97113,930,948.23
Shares Outstanding (M)109.14109.14109.14
Fair Value$947,192.44$994,616.65$1,043,925.97
Upside / Downside332.51%354.16%376.68%

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