Hyundai Heavy Industries Co Ltd (329180) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Hyundai Heavy Industries Co Ltd stock KRW 324,037, price KRW 271,000, upside +19.6%, quality 53 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 88,795 KRW – 735,980 KRW · fair‑value band 226,826 KRW – 421,248 KRW · the 271,000 KRW price screens below the 324,037 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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HD Hyundai Heavy Industries Co., Ltd., together with its subsidiaries, engages in the shipbuilding business in South Korea, North America, Asia, Europe, and internationally. It operates through four segments: Shipbuilding, Offshore Plants, Engine Machinery, and Others.
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The company manufactures and sells general merchant ships, including container ships, tankers, ro-pax, ro-ro, and LNG bunkering vessels, as well as LNG, LPG, LEG, bulk, car, and petrochemical product carriers; special merchant ships, such as drillships, semi-submersible drilling rigs, and offshore support vessels; and naval and medium size ships comprising destroyer, frigate, submarine, patrol vessel, minelayer, and landing, combat support, and training ships.
It also engages in the manufacturing and installation of fixed and floating offshore equipment, offshore wind power floaters and substation equipment, small modular reactor, and carbon capture and storage.
In addition, the company offers marine solutions, which include low and medium-speed HiMSEN engine, HiMSEN propulsion engine, engine components, NOx reduction system, and marine pump, as well as propeller and ship propulsion and rudder system; and energy solutions, such as diesel engine power plant, modular power plant and PPS, emergency generator, emergency generator for nuclear power plants, and combined heat and power and hybrid power plant.
Further, it is involved in the operation of leisure sports facilities, performance halls, and other facilities. The company was founded in 1972 and is headquartered in Ulsan, South Korea.
HD Hyundai Heavy Industries Co., Ltd. operates as a subsidiary of HD Korea Shipbuilding & Offshore Engineering Co., Ltd.
Stock analysis
Hyundai Heavy Industries Co Ltd (329180) currently trades at 271,000 KRW, while our model-based Fair Value estimate is 324,037 KRW, implying the stock looks roughly 16% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 549,596 KRW per share, and 18 of the 26 models we run sit above the 271,000 KRW price.
Bear case: the Dividend Discount group reads lowest at 44,512 KRW, and 8 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 226,826 KRW (bear) to 421,248 KRW (bull), the price of 271,000 KRW sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Hyundai Heavy Industries Co Ltd reported revenue of 17.6T KRW in FY2025 versus 8.3T KRW in FY2021, a compound +20.6%/yr. Reported net income was 1.4T KRW in FY2025.
Key figures
Market cap 28.4T KRW (≈ $20.9B) Large · P/E ratio 11.3 · P/S ratio 1.30 · EPS (TTM) 23,980 KRW · Dividend yield 3.7% · Net margin 11.5% · Return on equity 30.1% · Return on assets (EBIT) 1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 64 out of 100 (low confidence).
What moves the price
The share trades about 63% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at 20%, 329180 screens cheaper than that median.
Fair Value models
Bear226,826 KRWFair Value 324,037 KRWBull421,248 KRW
Price 271,000 KRW · Upside +19.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (11,806 KRW per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+21.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.2%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.5%
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
2.4% (2019) → 11.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−3.6%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+12.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −5.6% a year for the price and +10.0% for the forecasts.
AI conclusion: The business draws strength from rising profits on high-value ships and engines plus a US naval shipyard venture, yet its main weakness is the absence of clear durable competitive signals in the data.
Main risk: Chinese yards such as those under CSSC could win more commercial orders with lower prices and erode Hyundai Heavy Industries' market share and margins in high-volume segments.
Bull case: The company could leverage its US joint venture and defense focus plus AI-driven automation in Korean yards to secure stable naval and data-center engine orders while differentiating on quality and delivery reliability against Chinese rivals.
Bear case: If Chinese yards continue capturing the bulk of orders and the US expansion encounters persistent labor and cost issues, Hyundai Heavy Industries could face prolonged margin pressure on commercial work and underutilized investments in new capacity.
HD Hyundai Heavy Industries settled its latest wage talks after a brief high-altitude protest and posted a sharp rise in third-quarter operating profit from high-value ships and engines. It is also advancing a US shipyard joint venture aimed at Navy auxiliary vessels while discussing order volumes. Will defense work and power-equipment demand for data centers provide more stable growth than the commercial ship cycle alone?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aerospace & Defense · 241 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+19.6% · Top 25%
Profitability
Return on equity (12 months)30.1% · Top 25%
Return on assets5.4% · Above median
Net margin (12 months)11.5% · Above median
Operating margin (12 months)16.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)52.7% · Top 25%
Dividend yield (12 months)3.7% · Top 25%
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Hyundai Heavy Industries Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/329180
Frequently asked questions
Is Hyundai Heavy Industries Co Ltd (329180) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 324,037 KRW versus a price of 271,000 KRW, about +20% upside (undervalued).
What is the fair value of 329180?
Our model-based fair value for Hyundai Heavy Industries Co Ltd is 324,037 KRW (as of Nov 3, 2026), built from audited fundamentals. The current price: 271,000 KRW.
What is the quality score of 329180?
Hyundai Heavy Industries Co Ltd has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Hyundai Heavy Industries Co Ltd (329180)?
Our model-based price target is the fair value of 324,037 KRW (as of Nov 3, 2026) from 26 valuation models. Cautious scenario 226,826 KRW, optimistic scenario 421,248 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hyundai Heavy Industries Co Ltd stock forecast for 2026?
Our models put fair value at 324,037 KRW, about +20% upside versus a price of 271,000 KRW (undervalued). Cautious scenario 226,826 KRW, optimistic scenario 421,248 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hyundai Heavy Industries Co Ltd (329180)?
Hyundai Heavy Industries Co Ltd reported trailing-twelve-month revenue of about 21.9T KRW (latest available figure, as of Nov 3, 2026).
Does Hyundai Heavy Industries Co Ltd pay a dividend?
Hyundai Heavy Industries Co Ltd currently shows a dividend yield of 3.72% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Hyundai Heavy Industries Co Ltd (329180)?
For today's price to be fair in a discounted-cash-flow model, Hyundai Heavy Industries Co Ltd would have to grow free cash flow by -3.6 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.2 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 329180 use?
Our models discount Hyundai Heavy Industries Co Ltd at 10.2 %: a base by market capitalisation (large), damped by beta 1.22, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Hyundai Heavy Industries Co Ltd that is -3.6 % per year a year over ten years, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Hyundai Heavy Industries Co Ltd (329180) delivered so far?
Over the past 5 years revenue at Hyundai Heavy Industries Co Ltd grew +16.2 % a year. The price currently implies -3.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Hyundai Heavy Industries Co Ltd (329180) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Hyundai Heavy Industries Co Ltd (-3.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hyundai Heavy Industries Co Ltd (329180)?
The free-cash-flow yield on the price is 10.44 %: that much free cash flow Hyundai Heavy Industries Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hyundai Heavy Industries Co Ltd (329180)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hyundai Heavy Industries Co Ltd it is 324,037 KRW per share (as of Nov 3, 2026), against a price of 271,000 KRW. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hyundai Heavy Industries Co Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 329180 trades below its calculated fair value: price 271,000 KRW, fair value 324,037 KRW, a gap of about +20% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 329180?
No. The price is what the market pays today (271,000 KRW); the fair value is what the company's own numbers justify (324,037 KRW). For Hyundai Heavy Industries Co Ltd the two are 53,037 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hyundai Heavy Industries Co Ltd worth?
The market values Hyundai Heavy Industries Co Ltd at about 28.4T KRW (market capitalisation, as of Nov 3, 2026). Per share that is 271,000 KRW; our models calculate a fair value of 324,037 KRW per share.
What do the bullish and bearish scenarios say about 329180?
Our models span a range for Hyundai Heavy Industries Co Ltd: cautious scenario 226,826 KRW, base 324,037 KRW, optimistic 421,248 KRW per share (as of Nov 3, 2026, price 271,000 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 329180?
Hyundai Heavy Industries Co Ltd trades at a price-to-earnings ratio of 11.3 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 324,037 KRW is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 17.3 (reported for FY2025: 20.1). Other multiples: P/B 3.0, P/S 1.3, EV/EBITDA 7.8.
How solid is the balance sheet of Hyundai Heavy Industries Co Ltd (329180)?
Balance-sheet figures for Hyundai Heavy Industries Co Ltd (as of Nov 3, 2026): return on equity 30.1%, debt of 0.05 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 329180 from its 52-week high?
Hyundai Heavy Industries Co Ltd trades at 271,000 KRW, about 63% below its 52-week high of 735,980 KRW and at the low of 271,000 KRW (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 324,037 KRW is for.
Which stocks are comparable to Hyundai Heavy Industries Co Ltd?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Hyundai Heavy Industries Co Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price 271,000 KRW, calculated fair value 324,037 KRW (+20%), Quality Score 53/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 329180 calculated?
We run Hyundai Heavy Industries Co Ltd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 324,037 KRW, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Hyundai Heavy Industries Co Ltd currently trades 16% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Hyundai Heavy Industries Co Ltd (329180)?
The closing price on Nov 5, 2026 was 271,000 KRW. Our model-based fair value is 324,037 KRW, about +20% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hyundai Heavy Industries Co Ltd right now?
A fairly wide model range (226,826 KRW to 421,248 KRW) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Hyundai Heavy Industries Co Ltd
How large is the market capitalisation of Hyundai Heavy Industries Co Ltd (329180)?
The market capitalisation of Hyundai Heavy Industries Co Ltd is 28.4T KRW (≈ $20.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Hyundai Heavy Industries Co Ltd (329180)?
The price-to-sales ratio of Hyundai Heavy Industries Co Ltd is 1.30 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hyundai Heavy Industries Co Ltd (329180)?
Earnings per share at Hyundai Heavy Industries Co Ltd are 23,980 KRW (price ÷ EPS = P/E 11.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hyundai Heavy Industries Co Ltd (329180)?
The dividend yield of Hyundai Heavy Industries Co Ltd is 3.7% (payout 36.1%, on adjusted earnings, reported 42.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hyundai Heavy Industries Co Ltd (329180)?
The net margin of Hyundai Heavy Industries Co Ltd is 11.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Hyundai Heavy Industries Co Ltd (329180)?
The return on equity (ROE) of Hyundai Heavy Industries Co Ltd is 30.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Hyundai Heavy Industries Co Ltd (329180)?
On an EBIT basis the return on assets of Hyundai Heavy Industries Co Ltd is 1.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Hyundai Heavy Industries Co Ltd (329180)?
The operating margin of Hyundai Heavy Industries Co Ltd is 16.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hyundai Heavy Industries Co Ltd (329180)?
Revenue at Hyundai Heavy Industries Co Ltd is growing +52.7% versus a year earlier (3y avg +24.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Hyundai Heavy Industries Co Ltd (329180)?
Earnings per share at Hyundai Heavy Industries Co Ltd are growing +230% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hyundai Heavy Industries Co Ltd (329180) carry?
The net debt of Hyundai Heavy Industries Co Ltd is 2.2T KRW (fiscal year 2023, ≈ 0.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 3, 2026