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HDC Hyundai Engineering Plastics Co., Ltd. (089470.KS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$19,423.98 - $37,844.83$26,731.96
Multi-Stage$28,574.34 - $31,406.25$29,963.19
Blended Fair Value$28,347.57
Current Price$4,060.00
Upside598.22%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.85%3.97%144.63133.19155.39155.39133.1972.38142.41170.37159.27122.51
YoY Growth--8.59%-14.29%0.00%16.67%84.02%-49.18%-16.41%6.97%30.00%25.00%
Dividend Yield--4.25%2.91%3.59%3.27%2.12%2.60%3.24%2.62%1.89%1.24%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)31,557.14
(-) Cash Dividends Paid (M)3,626.00
(=) Cash Retained (M)27,931.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6,311.433,944.642,366.79
Cash Retained (M)27,931.1427,931.1427,931.14
(-) Cash Required (M)-6,311.43-3,944.64-2,366.79
(=) Excess Retained (M)21,619.7123,986.4925,564.35
(/) Shares Outstanding (M)26.0426.0426.04
(=) Excess Retained per Share830.31921.21981.81
LTM Dividend per Share139.26139.26139.26
(+) Excess Retained per Share830.31921.21981.81
(=) Adjusted Dividend969.571,060.471,121.07
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate1.47%2.47%3.47%
Fair Value$19,423.98$26,731.96$37,844.83
Upside / Downside378.42%558.42%832.14%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)31,557.1432,337.6233,137.4233,956.9934,796.8335,657.4536,727.17
Payout Ratio11.49%27.19%42.89%58.60%74.30%90.00%92.50%
Projected Dividends (M)3,626.008,793.3214,214.0219,897.4725,853.3732,091.7033,972.63

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate1.47%2.47%3.47%
Year 1 PV (M)8,173.118,253.668,334.20
Year 2 PV (M)12,279.6612,522.8812,768.49
Year 3 PV (M)15,977.2616,454.2916,940.72
Year 4 PV (M)19,295.5220,067.4520,862.32
Year 5 PV (M)22,262.1423,380.9224,544.23
PV of Terminal Value (M)666,031.02699,502.31734,305.96
Equity Value (M)744,018.72780,181.52817,755.92
Shares Outstanding (M)26.0426.0426.04
Fair Value$28,574.34$29,963.19$31,406.25
Upside / Downside603.80%638.01%673.55%

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