Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

HD Hyundai Co., Ltd. (267250.KS)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$458,329.31 - $1,385,230.06$1,297,722.35
Multi-Stage$671,549.84 - $739,232.02$704,737.04
Blended Fair Value$1,001,229.69
Current Price$129,500.00
Upside673.15%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172015
DPS3.75%0.00%4,600.035,499.584,599.685,549.563,827.463,827.430.000.000.000.00
YoY Growth---16.36%19.56%-17.12%44.99%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--6.34%7.80%7.92%10.32%6.57%9.69%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)510,037.81
(-) Cash Dividends Paid (M)254,395.71
(=) Cash Retained (M)255,642.10
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)102,007.5663,754.7338,252.84
Cash Retained (M)255,642.10255,642.10255,642.10
(-) Cash Required (M)-102,007.56-63,754.73-38,252.84
(=) Excess Retained (M)153,634.53191,887.37217,389.26
(/) Shares Outstanding (M)70.6770.6770.67
(=) Excess Retained per Share2,174.032,715.343,076.21
LTM Dividend per Share3,599.873,599.873,599.87
(+) Excess Retained per Share2,174.032,715.343,076.21
(=) Adjusted Dividend5,773.906,315.216,676.08
WACC / Discount Rate3.03%3.03%3.03%
Growth Rate1.75%2.75%3.75%
Fair Value$458,329.31$1,297,722.35$1,385,230.06
Upside / Downside253.92%902.10%969.68%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)510,037.81524,042.53538,431.80553,216.17568,406.49584,013.91601,534.33
Payout Ratio49.88%57.90%65.93%73.95%81.98%90.00%92.50%
Projected Dividends (M)254,395.71303,432.43354,970.26409,109.58465,954.42525,612.52556,419.25

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate3.03%3.03%3.03%
Growth Rate1.75%2.75%3.75%
Year 1 PV (M)291,649.26294,515.71297,382.16
Year 2 PV (M)327,936.49334,414.36340,955.59
Year 3 PV (M)363,275.68374,092.57385,122.08
Year 4 PV (M)397,684.81413,551.26429,887.81
Year 5 PV (M)431,181.54452,791.31475,258.96
PV of Terminal Value (M)45,645,356.6247,932,991.6950,311,441.59
Equity Value (M)47,457,084.4049,802,356.9152,240,048.19
Shares Outstanding (M)70.6770.6770.67
Fair Value$671,549.84$704,737.04$739,232.02
Upside / Downside418.57%444.20%470.84%

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