HD Hyundai Marine Solution (443060) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of HD Hyundai Marine Solution KRW 261,098, price KRW 239,000, upside +9.3%, quality 74 out of 100. 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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
29‑month range 95,169 KRW – 278,282 KRW · fair‑value band 181,797 KRW – 339,428 KRW · the 239,000 KRW price screens below the 261,098 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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HD Hyundai Marine Solution Co., Ltd. provides integrated engineering-based services to Hyundai brand ships. The company also supplies genuine spare parts, and customized parts and services; and provides related technical services, including maintenance and repair, and workshop services.
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HD Hyundai Marine Solution Co., Ltd. provides integrated engineering-based services to Hyundai brand ships. The company also supplies genuine spare parts, and customized parts and services; and provides related technical services, including maintenance and repair, and workshop services. In addition, it offers genuine parts, technical support, and operation and maintenance services for stationary engine power plants. Further, the company engages in the design, installation, and commissioning of retrofit parts, such as scrubbers, BWTS, etc., as well as provides digital control and marine automation solutions, and bunkering and warranty services. Additionally, it offers performance improvement services, such as ship bow/propeller modification, slow steaming, and ship optimization; and education services in the areas of engine performance, operation, maintenance, engine components, electric systems, and engine control systems. The company was founded in 1972 and is headquartered in Busan, South Korea. HD HYUNDAI Marine Solution CO.,LTD. operates as a subsidiary of HD Hyundai Co., Ltd.
Stock analysis
HD Hyundai Marine Solution (443060) currently trades at 239,000 KRW, while our model-based Fair Value estimate is 261,098 KRW, implying the stock looks roughly 8.5% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 153,007 KRW per share, and 0 of the 26 models we run sit above the 239,000 KRW price.
Bear case: the Economic Profit group reads lowest at 40,283 KRW, and 26 of the 26 models stay below the price. Evidence for this calculation is medium.
Scenario range: 181,797 KRW (bear) to 339,428 KRW (bull), the price of 239,000 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 74/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
HD Hyundai Marine Solution reported revenue of 2.0T KRW in FY2025 versus 1.1T KRW in FY2021, a compound +16.2%/yr. Reported net income was 270B KRW in FY2025, compounding +31.7%/yr from FY2021.
Key figures
Market cap 10.7T KRW (≈ $7.5B) · P/S ratio 4.23 · Dividend yield 1.7% · Net margin 13.6% · Return on equity 39.0% · Return on assets (EBIT) 27.2% · Operating margin 16.3% · Revenue (TTM) 2.1T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 51% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at 9%, 443060 screens cheaper than that median.
Fair Value models
Bear 181,797 KRWFair Value 261,098 KRWBull 339,428 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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
+13.6%
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.
+14.1%
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+36.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+34.7%
Dividend (yield on the price)1.7%
Profit margin 2021 to 2025 ⓘ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.10% → 18%
2025 sits 77% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more 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).
+18.5%
Yearly growth needed for the next five years to justify today's price.
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.
+12.5%
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 +16.1% a year for the price and +10.3% for the forecasts.
Compare HD Hyundai Marine Solution with another stock
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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 · 228 stocks
Beats the industry median on 10/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score74 · Top 25%
Fair Value upside+9% · Top 25%
Profitability
Return on equity (TTM)39% · Top 25%
Return on assets17% · Top 25%
Net margin (TTM)15% · Top 25%
Operating margin (TTM)16% · Above median
Growth and dividend
Revenue growth18% · Above median
Dividend yield (TTM)1.7% · Top 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
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Is HD Hyundai Marine Solution (443060) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 261,098 KRW versus a price of 239,000 KRW, about +9% upside (fairly valued).
What is the fair value of 443060?
Our model-based fair value for HD Hyundai Marine Solution is 261,098 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 239,000 KRW.
What is the quality score of 443060?
HD Hyundai Marine Solution has a Quality Score of 74/100. 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 HD Hyundai Marine Solution (443060)?
Our model-based price target is the fair value of 261,098 KRW (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 181,797 KRW, optimistic scenario 339,428 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the HD Hyundai Marine Solution stock forecast for 2026?
Our models put fair value at 261,098 KRW, about +9% upside versus a price of 239,000 KRW (fairly valued). Cautious scenario 181,797 KRW, optimistic scenario 339,428 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of HD Hyundai Marine Solution (443060)?
HD Hyundai Marine Solution reported trailing-twelve-month revenue of about 2.1T KRW (latest available figure, as of Sep 24, 2026).
Does HD Hyundai Marine Solution pay a dividend?
HD Hyundai Marine Solution currently shows a dividend yield of about 1.74% relative to its recent price (as of Sep 24, 2026).
What growth is priced into HD Hyundai Marine Solution (443060)?
For today's price to be fair in a discounted-cash-flow model, HD Hyundai Marine Solution would have to grow free cash flow by +18.5 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +16.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 443060 use?
Our models discount HD Hyundai Marine Solution at 9.3 %: a base by market capitalisation (mid), damped by beta 0.67, 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 HD Hyundai Marine Solution that is +18.5 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has HD Hyundai Marine Solution (443060) delivered so far?
Over the past 4 years revenue at HD Hyundai Marine Solution grew +16.2 % a year. The price currently implies +18.5 % 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 HD Hyundai Marine Solution (443060) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into HD Hyundai Marine Solution (+18.5 % 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 HD Hyundai Marine Solution (443060)?
The free-cash-flow yield on the price is 2.86 %: that much free cash flow HD Hyundai Marine Solution produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of HD Hyundai Marine Solution (443060)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HD Hyundai Marine Solution it is 261,098 KRW per share (as of Sep 24, 2026), against a price of 239,000 KRW. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is HD Hyundai Marine Solution stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 443060 trades below its calculated fair value: price 239,000 KRW, fair value 261,098 KRW, a gap of about +9% (fairly valued). 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 443060?
No. The price is what the market pays today (239,000 KRW); the fair value is what the company's own numbers justify (261,098 KRW). For HD Hyundai Marine Solution the two are 22,098 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is HD Hyundai Marine Solution worth?
The market values HD Hyundai Marine Solution at about 10.7T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 239,000 KRW; our models calculate a fair value of 261,098 KRW per share.
What do the bullish and bearish scenarios say about 443060?
Our models span a range for HD Hyundai Marine Solution: cautious scenario 181,797 KRW, base 261,098 KRW, optimistic 339,428 KRW per share (as of Sep 24, 2026, price 239,000 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of HD Hyundai Marine Solution (443060)?
Balance-sheet figures for HD Hyundai Marine Solution (as of Sep 24, 2026): return on equity 39.0%, debt of 0.04 per unit of equity. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is 443060 from its 52-week high?
HD Hyundai Marine Solution trades at 239,000 KRW, about 14% below its 52-week high of 278,282 KRW and 51% above the low of 157,842 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 261,098 KRW is for.
Which stocks are comparable to HD Hyundai Marine Solution?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Safran SA, 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 HD Hyundai Marine Solution stock attractive at the current price?
The data as of Sep 24, 2026: price 239,000 KRW, calculated fair value 261,098 KRW (+9%), Quality Score 74/100, 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 443060 calculated?
We run HD Hyundai Marine Solution 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 261,098 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 14.1 % above its aggregate fair value. HD Hyundai Marine Solution currently trades 9 % 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 HD Hyundai Marine Solution (443060)?
The closing price on Sep 23, 2026 was 239,000 KRW. Our model-based fair value is 261,098 KRW, about +9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HD Hyundai Marine Solution right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (181,797 KRW to 339,428 KRW) leaves room in how you read the outcome.
Key figures of HD Hyundai Marine Solution
How large is the market capitalisation of HD Hyundai Marine Solution (443060)?
The market capitalisation of HD Hyundai Marine Solution is 10.7T KRW (≈ $7.5B). 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 HD Hyundai Marine Solution (443060)?
The price-to-sales ratio of HD Hyundai Marine Solution is 4.23 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of HD Hyundai Marine Solution (443060)?
The dividend yield of HD Hyundai Marine Solution is 1.7%. 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 HD Hyundai Marine Solution (443060)?
The net margin of HD Hyundai Marine Solution is 13.6% (fiscal year 2025). 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 HD Hyundai Marine Solution (443060)?
The return on equity (ROE) of HD Hyundai Marine Solution is 39.0% (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 HD Hyundai Marine Solution (443060)?
On an EBIT basis the return on assets of HD Hyundai Marine Solution is 27.2% (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 HD Hyundai Marine Solution (443060)?
The operating margin of HD Hyundai Marine Solution is 16.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HD Hyundai Marine Solution (443060)?
Revenue at HD Hyundai Marine Solution is growing +18.3% versus a year earlier (3y avg +14.1%). 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 HD Hyundai Marine Solution (443060)?
Earnings per share at HD Hyundai Marine Solution are growing +55.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does HD Hyundai Marine Solution (443060) carry?
The net debt of HD Hyundai Marine Solution is 32.2B KRW (fiscal year 2023, ≈ 0.1 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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