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

Industrials · KR · Market cap 51.2T KRW (≈ $35.8B) · ISIN KR7329180004

What is Hyundai Heavy Industries Co Ltd really worth?

HH Hyundai Heavy Industries Co Ltd 329180 · KO
Price436,500 KRW
Fair Value232,021 KRW
Upside−46.9%
Quality54/100

A solid business, but trading 88% above our fair value of 232,021 KRW.

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Strengths

Healthy Growth (revenue 5y +16.2 %/yr)
Low debt · generates free cash flow
Ranks above peers (10/10)

Risks

!Thin margins · 9.7% net margin
!Moderate moat 61/100
!Evidence only medium, so the estimate is less certain

For context

·1.78% dividend yield
Evidence: Medium Range 169,559 KRW – 294,675 KRW

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Share price −7.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (294,675 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

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

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 89,883 KRW – 745,000 KRW · fair‑value band 169,559 KRW – 294,675 KRW · the 436,500 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 Aug 13, 2026.

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Analysis

Hyundai Heavy Industries Co Ltd (329180) currently trades at 436,500 KRW, while our model-based Fair Value estimate is 232,021 KRW, implying the stock looks roughly 88.1% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of 554,092 KRW per share, and 11 of the 26 models we run sit above the 436,500 KRW price. Bear case: the Dividend Discount group reads lowest at 54,735 KRW, and 15 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Hyundai Heavy Industries Co Ltd 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 Aug 13, 2026

Our scenario range runs from 169,559 KRW (bear case) to 294,675 KRW (bull case); at 436,500 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 43% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −47%, 329180 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Highest evidence
FCF DCF 495,140 KRW 827,863 KRW 1,839,632 KRW 75
EPV 188,067 KRW 218,932 KRW 246,367 KRW 74
Growth DCF 471,920 KRW 934,526 KRW 1,872,792 KRW 74
All 26 models by family
DCF Models
FCF DCF 495,140 KRW 827,863 KRW 1,839,632 KRW 75
Owner Earnings 204,629 KRW 461,780 KRW 1,025,767 KRW 70
5Y Revenue Exit 279,223 KRW 465,024 KRW 825,367 KRW 70
5Y EBITDA Exit 301,834 KRW 513,436 KRW 900,124 KRW 72
5Y P/E Exit 295,997 KRW 554,092 KRW 881,427 KRW 69
10Y Revenue Exit 332,080 KRW 605,251 KRW 880,872 KRW 66
10Y EBITDA Exit 356,179 KRW 650,041 KRW 1,169,416 KRW 65
10Y P/E Exit 351,948 KRW 638,479 KRW 1,117,850 KRW 61
Earnings-Based
Graham-Dodd 91,728 KRW 639,699 KRW 897,723 KRW 63
Lynch FV 197,823 KRW 282,604 KRW 367,385 KRW 61
PEG = 1.0 197,823 KRW 282,604 KRW 367,385 KRW 57
EPV 188,067 KRW 218,932 KRW 246,367 KRW 74
Dividend Discount
Gordon GGM 30,606 KRW 66,818 KRW 112,424 KRW 65
DDM Multi-Stage 30,606 KRW 54,735 KRW 69,635 KRW 66
Multiples
P/E Multiple 212,459 KRW 283,278 KRW 354,098 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 260,943 KRW 343,535 KRW 426,127 KRW 66
EV/EBITDA 233,621 KRW 307,107 KRW 380,592 KRW 67
EV/Revenue 190,010 KRW 265,801 KRW 341,591 KRW 54
Asset-Based
NCAV (Graham) 44,512 KRW 59,647 KRW 89,025 KRW 54
Growth DCF
Growth DCF 471,920 KRW 934,526 KRW 1,872,792 KRW 74
Rev-Margin DCF 279,223 KRW 504,127 KRW 842,642 KRW 70
Economic Profit
Residual Income 93,563 KRW 125,269 KRW 411,754 KRW 64
ROIC Compounder 236,526 KRW 349,367 KRW 511,883 KRW 70
Growth Earnings
Growth-Adj P/E 266,854 KRW 381,220 KRW 495,586 KRW 67

Widest divergence: DCF Models (554,092 KRW) versus Dividend Discount (54,735 KRW). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/S ratio 3.54 TTM
Dividend yield 1.8%
Net margin 8.1% FY2025
Return on equity 24.6% TTM
Return on assets (EBIT) 1.1% avg 5y
Operating margin 15.3% TTM
More key figures
Growth
Revenue (TTM) 19.7T KRW TTM
Revenue growth (YoY) +54.8% 3y avg +24.8%
EPS growth (YoY) +130%
Balance sheet & cash flow
Free cash flow 3.0T KRW FY2025
Net debt 2.2T KRW FY2023 · ≈ 0.7 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 56 · Market factors (momentum, volatility) 19

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 29
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 20
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

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

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.

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. revenue growth/yr (3Y) 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.
+24.8%
Avg. revenue growth/yr (5Y) 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.
+16.2%
Avg. revenue growth/yr (6Y) 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.
+21.5%
Value creation/yr We only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
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 88% overvalued. Compare with General Electric Company →

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

Peer Group

Aerospace & Defense · 229 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 54 · Above median
Fair Value upside −47% · Above 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) 1.8% · 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

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 50
PAST98 · sector 38
HEALTH97 · sector 93
DIVIDEND36 · sector 16

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

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Airbus SE AIR €213.00 €117.01 −45%
Lockheed Martin Corporation LMT $565.89 $419.01 −26%
Howmet Aerospace Inc HWM $264.85 $50.43 −81%
General Dynamics Corporation GD $379.32 $274.32 −28%
Northrop Grumman Corporation NOC $545.57 $356.59 −35%
TransDigm Group TDG $1,235 $571.03 −54%
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Frequently asked questions

Is Hyundai Heavy Industries Co Ltd (329180) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 232,021 KRW versus a price of 436,500 KRW, about −47% upside (overvalued).
What is the fair value of 329180?
Our model-based fair value for Hyundai Heavy Industries Co Ltd is 232,021 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 436,500 KRW.
What is the quality score of 329180?
Hyundai Heavy Industries Co Ltd has a Quality Score of 54/100. 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 revenue of Hyundai Heavy Industries Co Ltd (329180)?
Hyundai Heavy Industries Co Ltd reported trailing-twelve-month revenue of about 19.7T KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 329180?
The net profit margin of Hyundai Heavy Industries Co Ltd is about 9.7%, meaning it keeps roughly 9.7% of revenue as net income. Based on the latest reported figures.
Does Hyundai Heavy Industries Co Ltd pay a dividend?
Hyundai Heavy Industries Co Ltd currently shows a dividend yield of about 1.78% relative to its recent price (as of Aug 13, 2026).
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