Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hyundai Construction Equipment Co., Ltd. (267270.KS)

Company Dividend Discount ModelIndustry: Agricultural - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$39,546.07 - $57,613.23$48,285.53
Multi-Stage$65,809.28 - $72,423.32$69,051.59
Blended Fair Value$58,668.56
Current Price$92,900.00
Upside-36.85%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172015
DPS-4.96%0.00%749.171,925.531,344.502,568.56979.03966.01141.900.000.000.00
YoY Growth---61.09%43.22%-47.66%162.36%1.35%580.75%0.00%0.00%0.00%0.00%
Dividend Yield--1.14%3.27%2.58%6.94%1.82%6.44%0.29%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)90,235.42
(-) Cash Dividends Paid (M)8,814.90
(=) Cash Retained (M)81,420.52
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18,047.0811,279.436,767.66
Cash Retained (M)81,420.5281,420.5281,420.52
(-) Cash Required (M)-18,047.08-11,279.43-6,767.66
(=) Excess Retained (M)63,373.4370,141.0974,652.86
(/) Shares Outstanding (M)17.0117.0117.01
(=) Excess Retained per Share3,726.154,124.074,389.34
LTM Dividend per Share518.29518.29518.29
(+) Excess Retained per Share3,726.154,124.074,389.34
(=) Adjusted Dividend4,244.444,642.354,907.63
WACC / Discount Rate8.52%8.52%8.52%
Growth Rate-2.00%-1.00%0.00%
Fair Value$39,546.07$48,285.53$57,613.23
Upside / Downside-57.43%-48.02%-37.98%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)90,235.4289,333.0688,439.7387,555.3386,679.7885,812.9888,387.37
Payout Ratio9.77%25.82%41.86%57.91%73.95%90.00%92.50%
Projected Dividends (M)8,814.9023,061.3537,021.9950,701.1264,102.9577,231.6981,758.32

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.52%8.52%8.52%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)21,036.4721,251.1321,465.79
Year 2 PV (M)30,806.0631,437.9632,076.28
Year 3 PV (M)38,484.1639,674.3140,888.74
Year 4 PV (M)44,384.4346,223.9648,120.08
Year 5 PV (M)48,779.3851,319.4453,964.22
PV of Terminal Value (M)935,777.34984,505.441,035,242.63
Equity Value (M)1,119,267.851,174,412.241,231,757.74
Shares Outstanding (M)17.0117.0117.01
Fair Value$65,809.28$69,051.59$72,423.32
Upside / Downside-29.16%-25.67%-22.04%

High-Yield Dividend Screener

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