Definitive Analysis
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Definitive Analysis

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Ticker

Industry

Sector

HDC Hyundai Engineering Plastics Co., Ltd. (089470.KS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$19,427.08 - $37,854.80$26,737.27
Multi-Stage$28,581.23 - $31,413.84$29,970.42
Blended Fair Value$28,353.85
Current Price$4,060.00
Upside598.37%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.85%3.97%144.63133.19155.39155.39133.1972.38142.41170.37159.27122.51
YoY Growth--8.59%-14.29%0.00%16.67%84.02%-49.18%-16.41%6.97%30.00%25.00%
Dividend Yield--4.25%2.91%3.59%3.27%2.12%2.60%3.24%2.62%1.89%1.24%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)31,557.14
(-) Cash Dividends Paid (M)3,626.00
(=) Cash Retained (M)27,931.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6,311.433,944.642,366.79
Cash Retained (M)27,931.1427,931.1427,931.14
(-) Cash Required (M)-6,311.43-3,944.64-2,366.79
(=) Excess Retained (M)21,619.7123,986.4925,564.35
(/) Shares Outstanding (M)26.0426.0426.04
(=) Excess Retained per Share830.31921.21981.81
LTM Dividend per Share139.26139.26139.26
(+) Excess Retained per Share830.31921.21981.81
(=) Adjusted Dividend969.571,060.471,121.07
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate1.47%2.47%3.47%
Fair Value$19,427.08$26,737.27$37,854.80
Upside / Downside378.50%558.55%832.38%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)31,557.1432,337.6233,137.4233,956.9934,796.8335,657.4536,727.17
Payout Ratio11.49%27.19%42.89%58.60%74.30%90.00%92.50%
Projected Dividends (M)3,626.008,793.3214,214.0219,897.4725,853.3732,091.7033,972.63

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate1.47%2.47%3.47%
Year 1 PV (M)8,173.188,253.728,334.27
Year 2 PV (M)12,279.8512,523.0712,768.68
Year 3 PV (M)15,977.6316,454.6716,941.11
Year 4 PV (M)19,296.1020,068.0620,862.95
Year 5 PV (M)22,262.9823,381.8124,545.16
PV of Terminal Value (M)666,208.35699,688.55734,501.47
Equity Value (M)744,198.09780,369.88817,953.64
Shares Outstanding (M)26.0426.0426.04
Fair Value$28,581.23$29,970.42$31,413.84
Upside / Downside603.97%638.19%673.74%

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