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HD Hyundai Heavy Industries Co (329180) Fair Value & Analysis

Industrials · KR · Market cap 51.2T KRW

HH HD Hyundai Heavy Industries Co 329180 · KO
Price507,000 KRW
Fair Value232,021 KRW
Upside-54.2%
Quality49/100
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Healthy Growth
Thin margins · 9.7% net margin
Low debt · generates free cash flow
1.54% dividend yield
Ranks above peers (8/10)
Moderate moat 61/100
Evidence: High Range 169,559 KRW – 343,561 KRW Share as image

Fair value as of: Jul 14, 2026

From 26 valuation models · updated 24 days ago

Share price −8.2% over the past month.

Below-average quality, and screening another 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (343,561 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (169,559 KRW to 343,561 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

745,000 KRW 89,883 KRW Fair Value 232,021 KRW Sep 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

59‑month range 89,883 KRW – 745,000 KRW · fair‑value band 169,559 KRW – 343,561 KRW · the 507,000 KRW price screens above the 232,021 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

HD Hyundai Heavy Industries Co (329180) currently trades at 507,000 KRW, while our model-based Fair Value estimate is 232,021 KRW, implying the stock looks roughly 54.2% overvalued today. We read business quality at 49/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, HD Hyundai Heavy Industries Co generated revenue of 19.7T KRW at a net margin of 9.7%. Revenue grew 54.8% year over year. It earns a return on equity of 24.6%. Net debt stands at 2.2T KRW. Fundamentals as of Jul 14, 2026

Our scenario range runs from 169,559 KRW (bear case) to 343,561 KRW (bull case); at 507,000 KRW, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 38% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -55% fair-value upside, at -54%, 329180 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 471,920 KRW 934,526 KRW 1,872,792 KRW 80
Residual Income 93,563 KRW 125,269 KRW 411,754 KRW 76
Rev-Margin DCF 279,223 KRW 504,127 KRW 842,642 KRW 74
All 26 models by family
DCF Models
FCF DCF 495,140 KRW 827,863 KRW 1,839,632 KRW 38
Owner Earnings 204,629 KRW 461,780 KRW 1,025,767 KRW 31
5Y Revenue Exit 279,223 KRW 465,024 KRW 825,367 KRW 39
5Y EBITDA Exit 301,834 KRW 513,436 KRW 900,124 KRW 41
5Y P/E Exit 288,613 KRW 536,310 KRW 849,810 KRW 38
10Y Revenue Exit 332,080 KRW 605,251 KRW 880,872 KRW 36
10Y EBITDA Exit 356,179 KRW 650,041 KRW 1,169,416 KRW 37
10Y P/E Exit 346,596 KRW 623,852 KRW 1,086,185 KRW 35
Earnings-Based
Graham-Dodd 91,728 KRW 639,699 KRW 897,723 KRW 54
Lynch FV 197,823 KRW 282,604 KRW 367,385 KRW 50
PEG = 1.0 197,823 KRW 282,604 KRW 367,385 KRW 46
EPV 188,067 KRW 218,932 KRW 246,367 KRW 59
Dividend Discount
Gordon GGM 30,606 KRW 66,818 KRW 112,424 KRW 70
DDM Multi-Stage 30,606 KRW 54,735 KRW 69,635 KRW 61
Multiples
P/E Multiple 202,342 KRW 269,789 KRW 337,236 KRW 63
P/S Multiple 171,990 KRW 229,321 KRW 286,651 KRW 58
P/B Multiple 171,990 KRW 229,321 KRW 286,651 KRW 55
EV/EBIT 275,518 KRW 362,968 KRW 450,419 KRW 53
EV/EBITDA 233,621 KRW 307,107 KRW 380,592 KRW 54
EV/Revenue 190,010 KRW 265,801 KRW 341,591 KRW 43
Asset-Based
NCAV (Graham) 44,512 KRW 59,647 KRW 89,025 KRW 50
Growth DCF
Growth DCF 471,920 KRW 934,526 KRW 1,872,792 KRW 80
Rev-Margin DCF 279,223 KRW 504,127 KRW 842,642 KRW 74
Economic Profit
Residual Income 93,563 KRW 125,269 KRW 411,754 KRW 76
ROIC Compounder 236,526 KRW 349,367 KRW 511,883 KRW 72
Growth Earnings
Growth-Adj P/E 261,494 KRW 373,563 KRW 485,632 KRW 68

Widest divergence: DCF Models (536,310 KRW) versus Dividend Discount (54,735 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 19.7T KRW
Revenue growth (YoY) +54.8%
Net margin 9.7%
Return on equity 24.6%
Free cash flow 3.0T KRW FY2025
Operating margin 15.3%
More key figures
Dividend yield 1.2%
EPS growth (YoY) +130%
Net debt 2.2T KRW FY2023

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 56 · Market factors (momentum, volatility) 39

Profitability 42
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 11
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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. 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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HD Hyundai Heavy Industries Co 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.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
17.6T KRW
Latest YoY
+21.4%
Avg. growth/yr (3Y)
+24.8%
Avg. growth/yr (5Y)
+16.2%
Avg. growth/yr (6Y)
+21.5%
Revenue +20.6%/yr
FY21 8.3T KRW
FY22 9.0T KRW
FY23 12.0T KRW
FY24 14.5T KRW
FY25 17.6T KRW
Net income
FY21 −814B KRW
FY22 −352B KRW
FY23 24.7B KRW
FY24 622B KRW
FY25 1.4T KRW

329180 screens 54% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "HD Hyundai Heavy Industries Co Fair Value". https://www.fairvalue-calculator.com/stock/329180

Peer Group

Aerospace & Defense · 227 stocks

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.

Quality Score 49 · Below median
Fair Value upside −54% · Below median
Return on equity (TTM) 25% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 10% · Above median
Operating margin (TTM) 15% · Above median
Revenue growth 55% · Top 25%
Dividend yield (TTM) 1.5% · Top 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 47
PAST 98 · sector 39
HEALTH 97 · sector 93
DIVIDEND 31 · sector 15

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $381.22 $116.71 -69%
RTX Corporation RTX $195.93 $88.37 -55%
Airbus SE 1AIR €206.30 €92.85 -55%
The Boeing Company BA $217.11 $48.20 -78%
China CSSC Holdings 600150 ¥34.31 ¥21.90 -36%
Hanwha Aerospace Co 012450 967,000 KRW 573,468 KRW -41%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 337.50 TRY 130.70 TRY -61%
Saab AB SAABB kr 520.40 kr 212.84 -59%
Kongsberg Gruppen ASA KOG kr 277.50 kr 106.93 -61%
HD Korea Shipbuilding & Offshore Engineering Co 009540 354,000 KRW 643,950 KRW +82%

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Frequently asked questions

Is HD Hyundai Heavy Industries Co (329180) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 232,021 KRW versus a price of 507,000 KRW, about −54% (overvalued).
What is the fair value of 329180?
Our model-based fair value for HD Hyundai Heavy Industries Co is 232,021 KRW (as of Jul 14, 2026), built from audited fundamentals. The current price is 507,000 KRW.
What is the quality score of 329180?
HD Hyundai Heavy Industries Co has a Quality Score of 49/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of HD Hyundai Heavy Industries Co (329180)?
HD Hyundai Heavy Industries Co reported trailing-twelve-month revenue of about 19.7T KRW (latest available figure, as of Jul 14, 2026).
What is the net profit margin of 329180?
The net profit margin of HD Hyundai Heavy Industries Co is about 9.7%, meaning it keeps roughly 9.7% of revenue as net income. Based on the latest reported figures.
Does HD Hyundai Heavy Industries Co pay a dividend?
HD Hyundai Heavy Industries Co currently shows a dividend yield of about 1.17% relative to its recent price (as of Jul 14, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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