Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hyundai Corporation (011760.KS)

Company Dividend Discount ModelIndustry: Industrial - DistributionSector: Industrials

Valuation Snapshot

Stable Growth$85,236.48 - $153,190.48$113,703.05
Multi-Stage$141,228.18 - $155,336.46$148,146.24
Blended Fair Value$130,924.65
Current Price$21,150.00
Upside519.03%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-1.05%-4.28%585.96585.96590.41585.96617.57617.57617.57524.17806.44907.81
YoY Growth--0.00%-0.75%0.76%-5.12%0.00%0.00%17.82%-35.00%-11.17%0.00%
Dividend Yield--2.68%3.28%3.61%3.57%3.16%5.77%2.46%2.87%3.75%3.95%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)75,693.50
(-) Cash Dividends Paid (M)8,407.68
(=) Cash Retained (M)67,285.82
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15,138.709,461.695,677.01
Cash Retained (M)67,285.8267,285.8267,285.82
(-) Cash Required (M)-15,138.70-9,461.69-5,677.01
(=) Excess Retained (M)52,147.1257,824.1461,608.81
(/) Shares Outstanding (M)12.3012.3012.30
(=) Excess Retained per Share4,240.044,701.635,009.36
LTM Dividend per Share683.62683.62683.62
(+) Excess Retained per Share4,240.044,701.635,009.36
(=) Adjusted Dividend4,923.665,385.255,692.98
WACC / Discount Rate6.50%6.50%6.50%
Growth Rate0.69%1.69%2.69%
Fair Value$85,236.48$113,703.05$153,190.48
Upside / Downside303.01%437.60%624.30%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)75,693.5076,969.6978,267.4079,586.9880,928.8282,293.2884,762.07
Payout Ratio11.11%26.89%42.66%58.44%74.22%90.00%92.50%
Projected Dividends (M)8,407.6820,694.0933,392.4146,513.0360,066.5974,063.9578,404.92

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.50%6.50%6.50%
Growth Rate0.69%1.69%2.69%
Year 1 PV (M)19,239.6019,430.6919,621.77
Year 2 PV (M)28,863.3929,439.5730,021.44
Year 3 PV (M)37,378.6838,503.5039,650.66
Year 4 PV (M)44,877.8646,687.4848,551.28
Year 5 PV (M)51,446.4954,052.5556,763.16
PV of Terminal Value (M)1,555,122.841,633,898.531,715,834.70
Equity Value (M)1,736,928.861,822,012.311,910,443.01
Shares Outstanding (M)12.3012.3012.30
Fair Value$141,228.18$148,146.24$155,336.46
Upside / Downside567.75%600.46%634.45%

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