Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

HD Hyundai Infracore Co., Ltd. (042670.KS)

Company Dividend Discount ModelIndustry: Agricultural - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$707.38 - $918.85$819.22
Multi-Stage$1,857.86 - $2,067.17$1,960.19
Blended Fair Value$1,389.71
Current Price$12,640.00
Upside-89.01%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-16.47%2.46%113.94248.590.000.00152.84280.21278.90243.5094.94181.51
YoY Growth---54.17%0.00%0.00%-100.00%-45.45%0.47%14.54%156.49%-47.70%103.07%
Dividend Yield--1.35%2.97%0.00%0.00%0.54%3.55%1.52%1.00%0.40%1.11%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)44,980.37
(-) Cash Dividends Paid (M)13,447.00
(=) Cash Retained (M)31,533.37
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8,996.075,622.553,373.53
Cash Retained (M)31,533.3731,533.3731,533.37
(-) Cash Required (M)-8,996.07-5,622.55-3,373.53
(=) Excess Retained (M)22,537.2925,910.8228,159.84
(/) Shares Outstanding (M)192.64192.64192.64
(=) Excess Retained per Share116.99134.50146.18
LTM Dividend per Share69.8069.8069.80
(+) Excess Retained per Share116.99134.50146.18
(=) Adjusted Dividend186.80204.31215.98
WACC / Discount Rate7.63%7.63%7.63%
Growth Rate-14.85%-13.85%-12.85%
Fair Value$707.38$819.22$918.85
Upside / Downside-94.40%-93.52%-92.73%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)44,980.3738,748.5033,380.0328,755.3424,771.3921,339.4021,979.58
Payout Ratio29.90%41.92%53.94%65.96%77.98%90.00%92.50%
Projected Dividends (M)13,447.0016,241.9018,004.2418,966.4819,316.5019,205.4620,331.11

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.63%7.63%7.63%
Growth Rate-14.85%-13.85%-12.85%
Year 1 PV (M)14,915.4015,090.5815,265.75
Year 2 PV (M)15,183.4715,542.2115,905.14
Year 3 PV (M)14,688.6215,212.2615,748.19
Year 4 PV (M)13,737.9114,394.7515,074.88
Year 5 PV (M)12,543.3913,297.4914,087.42
PV of Terminal Value (M)286,829.75304,073.60322,137.00
Equity Value (M)357,898.54377,610.88398,218.38
Shares Outstanding (M)192.64192.64192.64
Fair Value$1,857.86$1,960.19$2,067.17
Upside / Downside-85.30%-84.49%-83.65%

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