Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

HD-Hyundai Marine Engine Co., Ltd. (071970.KS)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$17,410.69 - $24,665.97$20,992.15
Multi-Stage$25,191.59 - $27,712.00$26,427.24
Blended Fair Value$23,709.70
Current Price$50,300.00
Upside-52.86%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
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)90,108.28
(-) Cash Dividends Paid (M)11.11
(=) Cash Retained (M)90,097.16
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18,021.6611,263.536,758.12
Cash Retained (M)90,097.1690,097.1690,097.16
(-) Cash Required (M)-18,021.66-11,263.53-6,758.12
(=) Excess Retained (M)72,075.5178,833.6383,339.04
(/) Shares Outstanding (M)33.9233.9233.92
(=) Excess Retained per Share2,124.862,324.102,456.92
LTM Dividend per Share0.330.330.33
(+) Excess Retained per Share2,124.862,324.102,456.92
(=) Adjusted Dividend2,125.192,324.432,457.25
WACC / Discount Rate9.96%9.96%9.96%
Growth Rate-2.00%-1.00%0.00%
Fair Value$17,410.69$20,992.15$24,665.97
Upside / Downside-65.39%-58.27%-50.96%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)90,108.2889,207.1988,315.1287,431.9786,557.6585,692.0788,262.84
Payout Ratio0.01%18.01%36.01%54.00%72.00%90.00%92.50%
Projected Dividends (M)11.1116,066.1031,799.9847,217.5862,323.6477,122.8781,643.12

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.96%9.96%9.96%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)14,462.9914,610.5814,758.16
Year 2 PV (M)25,770.4826,299.0926,833.07
Year 3 PV (M)34,446.6635,511.9536,598.98
Year 4 PV (M)40,930.2242,626.5944,375.15
Year 5 PV (M)45,595.5347,969.8050,441.95
PV of Terminal Value (M)693,294.84729,396.31766,986.27
Equity Value (M)854,500.73896,414.32939,993.58
Shares Outstanding (M)33.9233.9233.92
Fair Value$25,191.59$26,427.24$27,712.00
Upside / Downside-49.92%-47.46%-44.91%

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