Financials HDC Hyundai Development Company

Equities

A294870

KR7294870001

Construction & Engineering

End-of-day quote Korea S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
17,690 KRW -0.56% Intraday chart for HDC Hyundai Development Company +10.70% +21.16%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,126,772 1,719,934 1,509,061 658,979 936,872 1,135,155 - -
Enterprise Value (EV) 2 721.7 730.3 1,488 2,567 936.9 2,654 2,624 2,060
P/E ratio 2.72 x 7.21 x 8.55 x 13.1 x 5.45 x 6.16 x 4.88 x 3.44 x
Yield 1.95% 2.3% 2.62% 6% - 3.71% 3.49% 5.72%
Capitalization / Revenue 0.27 x 0.47 x 0.45 x 0.2 x 0.22 x 0.27 x 0.24 x 0.24 x
EV / Revenue 0.17 x 0.2 x 0.44 x 0.78 x 0.22 x 0.62 x 0.55 x 0.43 x
EV / EBITDA 1.25 x 1.17 x 4.77 x 15.8 x 3.67 x 9.26 x 7.55 x 4.42 x
EV / FCF -5.77 x -2.77 x 112 x -1.41 x - 12.4 x 9.35 x 6.9 x
FCF Yield -17.3% -36.1% 0.89% -70.8% - 8.06% 10.7% 14.5%
Price to Book 0.5 x 0.58 x 0.52 x 0.23 x - 0.37 x 0.35 x 0.32 x
Nbr of stocks (in thousands) 43,929 65,898 65,898 65,898 64,169 64,169 - -
Reference price 3 25,650 26,100 22,900 10,000 14,600 17,690 17,690 17,690
Announcement Date 1/31/20 2/2/21 2/9/22 2/9/23 1/25/24 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,216 3,670 3,369 3,298 4,191 4,262 4,731 4,810
EBITDA 1 577.4 622.1 311.9 162.5 255.1 286.5 347.5 466
EBIT 1 551.5 585.7 330.4 116.4 195.3 238.1 313.8 411.3
Operating Margin 13.08% 15.96% 9.81% 3.53% 4.66% 5.59% 6.63% 8.55%
Earnings before Tax (EBT) 1 558.9 347.6 351.4 120.9 238.7 262 329.1 462.5
Net income 1 413.7 220.2 206.1 50.37 174.3 189.1 239 339.3
Net margin 9.81% 6% 6.12% 1.53% 4.16% 4.44% 5.05% 7.05%
EPS 2 9,417 3,622 2,679 764.0 2,678 2,871 3,628 5,149
Free Cash Flow 3 -124,972 -263,507 13,318 -1,817,213 - 213,850 280,550 298,400
FCF margin -2,963.89% -7,179.6% 395.27% -55,095.44% - 5,017.33% 5,930.27% 6,203.1%
FCF Conversion (EBITDA) - - 4,269.76% - - 74,642.23% 80,733.81% 64,041.21%
FCF Conversion (Net income) - - 6,461.08% - - 113,088.31% 117,405.99% 87,937.13%
Dividend per Share 2 500.0 600.0 600.0 600.0 - 657.1 616.7 1,012
Announcement Date 1/31/20 2/2/21 2/9/22 2/9/23 1/25/24 - - -
1KRW in Billions2KRW3KRW in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 859.4 1,003 731.8 959.5 737.8 915.3 - 933.6 1,033 1,149 971.3 1,071 1,066 1,185
EBITDA 1 77.44 -6.601 -84 - - - - - - 90 58.1 72.8 81.3 -
EBIT 1 66.4 40.76 68.1 66.7 69.55 74.3 50.09 5.733 62.03 77.46 48.82 51.83 65.53 77.08
Operating Margin 7.73% 4.06% 9.31% 6.95% 9.43% 8.12% - 0.61% 6% 6.74% 5.03% 4.84% 6.15% 6.5%
Earnings before Tax (EBT) 1 89.98 15.8 60.4 91.16 55.52 - - - 82.62 74.46 53 58 75 106
Net income 1 43.8 -8.068 47.54 67.24 28.96 29.73 - - 62.2 56.46 44.7 51.6 58.97 62
Net margin 5.1% -0.8% 6.5% 7.01% 3.93% 3.25% - - 6.02% 4.91% 4.6% 4.82% 5.53% 5.23%
EPS - - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 10/28/21 2/9/22 4/28/22 7/28/22 10/28/22 2/9/23 4/25/23 7/25/23 10/23/23 1/25/24 - - - -
1KRW in Billions
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 1,908 - 1,519 1,489 924
Net Cash position 1 405 990 21 - - - - -
Leverage (Debt/EBITDA) - - - 11.74 x - 5.302 x 4.286 x 1.984 x
Free Cash Flow 2 -124,972 -263,507 13,318 -1,817,213 - 213,850 280,550 298,400
ROE (net income / shareholders' equity) 20.3% 8.85% 7.28% 1.75% - 6.41% 7.77% 9.95%
ROA (Net income/ Total Assets) 8.92% 4.18% 2.78% 0.72% - 2.88% 3.43% 4.53%
Assets 1 4,638 5,263 7,404 6,951 - 6,558 6,975 7,499
Book Value Per Share 3 50,803 45,119 43,665 43,919 - 47,335 50,408 55,957
Cash Flow per Share 3 -2,731 -4,259 462.0 -26,331 - 4,664 5,579 -
Capex 1 4.98 4.6 17.1 82.1 - 112 152 171
Capex / Sales 0.12% 0.13% 0.51% 2.49% - 2.62% 3.21% 3.55%
Announcement Date 1/31/20 2/2/21 2/9/22 2/9/23 1/25/24 - - -
1KRW in Billions2KRW in Million3KRW
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
17,690 KRW
Average target price
20,875 KRW
Spread / Average Target
+18.00%
Consensus

Quarterly revenue - Rate of surprise

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