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$717,797.15 - $1,609,111.82$1,039,241.10
Multi-Stage$3,081,221.07 - $3,405,405.66$3,240,057.78
Blended Fair Value$2,139,649.44
Current Price$891,000.00
Upside140.14%
DecisionBuy

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 Rate2.22%2.22%2.22%
Growth Rate-2.00%-1.00%0.00%
Fair Value$717,797.15$1,039,241.10$1,609,111.82
Upside / Downside-19.44%16.64%80.60%

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 Rate2.22%2.22%2.22%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)97,414.8098,408.8399,402.86
Year 2 PV (M)144,723.57147,692.18150,690.93
Year 3 PV (M)187,958.09193,770.82199,702.17
Year 4 PV (M)227,374.20236,797.80246,511.33
Year 5 PV (M)263,213.59276,919.73291,190.99
PV of Terminal Value (M)27,864,082.9829,315,030.4330,825,801.42
Equity Value (M)28,784,767.2330,268,619.7931,813,299.70
Shares Outstanding (M)9.349.349.34
Fair Value$3,081,221.07$3,240,057.78$3,405,405.66
Upside / Downside245.82%263.64%282.20%

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