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$100,914.46 - $144,637.69$122,315.02
Multi-Stage$159,966.79 - $175,688.11$167,675.27
Blended Fair Value$144,995.14
Current Price$515,000.00
Upside-71.85%
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 Rate9.31%9.31%9.31%
Growth Rate-2.00%-1.00%0.00%
Fair Value$100,914.46$122,315.02$144,637.69
Upside / Downside-80.40%-76.25%-71.92%

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 Rate9.31%9.31%9.31%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)448,034.26452,606.03457,177.81
Year 2 PV (M)534,992.08545,965.99557,051.31
Year 3 PV (M)599,156.14617,685.44636,592.89
Year 4 PV (M)644,312.60671,016.35698,541.68
Year 5 PV (M)673,708.15708,789.70745,317.68
PV of Terminal Value (M)11,300,329.0011,888,763.3412,501,459.24
Equity Value (M)14,200,532.2214,884,826.8615,596,140.61
Shares Outstanding (M)88.7788.7788.77
Fair Value$159,966.79$167,675.27$175,688.11
Upside / Downside-68.94%-67.44%-65.89%

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