Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hyosung Heavy Industries Corporation (298040.KS)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$256,801.38 - $364,810.39$310,011.25
Multi-Stage$384,030.88 - $422,027.14$402,660.47
Blended Fair Value$356,335.86
Current Price$891,000.00
Upside-60.01%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS0.00%0.00%2,491.900.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.58%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)361,127.71
(-) Cash Dividends Paid (M)45,760.96
(=) Cash Retained (M)315,366.75
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)72,225.5445,140.9627,084.58
Cash Retained (M)315,366.75315,366.75315,366.75
(-) Cash Required (M)-72,225.54-45,140.96-27,084.58
(=) Excess Retained (M)243,141.21270,225.79288,282.17
(/) Shares Outstanding (M)9.349.349.34
(=) Excess Retained per Share26,026.6828,925.9030,858.72
LTM Dividend per Share4,898.414,898.414,898.41
(+) Excess Retained per Share26,026.6828,925.9030,858.72
(=) Adjusted Dividend30,925.0933,824.3135,757.13
WACC / Discount Rate9.80%9.80%9.80%
Growth Rate-2.00%-1.00%0.00%
Fair Value$256,801.38$310,011.25$364,810.39
Upside / Downside-71.18%-65.21%-59.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)361,127.71357,516.43353,941.26350,401.85346,897.83343,428.86353,731.72
Payout Ratio12.67%28.14%43.60%59.07%74.53%90.00%92.50%
Projected Dividends (M)45,760.96100,595.64154,329.04206,977.72258,558.00309,085.97327,201.84

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.80%9.80%9.80%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)90,690.4391,615.8592,541.26
Year 2 PV (M)125,433.16128,006.08130,605.12
Year 3 PV (M)151,659.86156,350.04161,135.94
Year 4 PV (M)170,799.80177,878.66185,175.30
Year 5 PV (M)184,073.39193,658.52203,638.85
PV of Terminal Value (M)2,864,959.843,014,144.953,169,481.06
Equity Value (M)3,587,616.493,761,654.103,942,577.53
Shares Outstanding (M)9.349.349.34
Fair Value$384,030.88$402,660.47$422,027.14
Upside / Downside-56.90%-54.81%-52.63%

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