Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hd Hyundai Heavy Industries Co., Ltd. (329180.KS)

Company Dividend Discount ModelIndustry: Aerospace & DefenseSector: Industrials

Valuation Snapshot

Stable Growth$123,024.74 - $185,035.66$152,351.38
Multi-Stage$240,961.25 - $265,238.73$252,861.73
Blended Fair Value$202,606.55
Current Price$515,000.00
Upside-60.66%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%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)1,292,479.71
(-) Cash Dividends Paid (M)333,875.69
(=) Cash Retained (M)958,604.02
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)258,495.94161,559.9696,935.98
Cash Retained (M)958,604.02958,604.02958,604.02
(-) Cash Required (M)-258,495.94-161,559.96-96,935.98
(=) Excess Retained (M)700,108.08797,044.06861,668.04
(/) Shares Outstanding (M)88.7788.7788.77
(=) Excess Retained per Share7,886.618,978.589,706.56
LTM Dividend per Share3,761.063,761.063,761.06
(+) Excess Retained per Share7,886.618,978.589,706.56
(=) Adjusted Dividend11,647.6712,739.6413,467.61
WACC / Discount Rate7.28%7.28%7.28%
Growth Rate-2.00%-1.00%0.00%
Fair Value$123,024.74$152,351.38$185,035.66
Upside / Downside-76.11%-70.42%-64.07%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,292,479.711,279,554.911,266,759.361,254,091.771,241,550.851,229,135.341,266,009.40
Payout Ratio25.83%38.67%51.50%64.33%77.17%90.00%92.50%
Projected Dividends (M)333,875.69494,749.43652,372.31806,793.25958,060.541,106,221.811,171,058.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.28%7.28%7.28%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)456,524.34461,182.76465,841.17
Year 2 PV (M)555,460.01566,853.76578,363.19
Year 3 PV (M)633,867.05653,469.82673,472.63
Year 4 PV (M)694,556.39723,342.51753,014.27
Year 5 PV (M)740,006.29778,540.13818,662.75
PV of Terminal Value (M)18,310,137.8819,263,589.2420,256,352.04
Equity Value (M)21,390,551.9622,446,978.2123,545,706.05
Shares Outstanding (M)88.7788.7788.77
Fair Value$240,961.25$252,861.73$265,238.73
Upside / Downside-53.21%-50.90%-48.50%

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