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HD Hyundai Marine Solution (443060) Fair Value & Analysis

Industrials · KR · Market cap 8.8T KRW (≈ $6.1B)

What is HD Hyundai Marine Solution really worth?

HH HD Hyundai Marine Solution 443060 · KO
Price210,500 KRW
Fair Value104,493 KRW
Upside−50.4%
Quality74/100

A solid business, but trading 101% above our fair value of 104,493 KRW.

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Strengths

Healthy Growth (revenue 3y +14.1 %/yr)
Solidly profitable · 14.7% net margin
Low debt · generates free cash flow
Ranks above peers (10/10)
Wide moat 76/100

Risks

!Evidence only medium, so the estimate is less certain

For context

·1.97% dividend yield
Evidence: Medium Range 78,190 KRW – 154,260 KRW

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Share price +9.5% over the past month.

What runs behind every stock

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

What matters now

  • A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (154,260 KRW). The favourable scenario is already priced in.
  • A fairly wide model range (78,190 KRW to 154,260 KRW) leaves room in how you read the outcome.

Price vs Fair Value (2 years)

278,282 KRW 95,169 KRW Fair Value 104,493 KRW May 2024 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

28‑month range 95,169 KRW – 278,282 KRW · fair‑value band 78,190 KRW – 154,260 KRW · the 210,500 KRW price screens above the 104,493 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

HD Hyundai Marine Solution (443060) currently trades at 210,500 KRW, while our model-based Fair Value estimate is 104,493 KRW, implying the stock looks roughly 101.5% overvalued today. The Quality Score stands at 74/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of 162,801 KRW per share, and 1 of the 26 models we run sit above the 210,500 KRW price. Bear case: the Asset-Based group reads lowest at 12,325 KRW, and 25 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, HD Hyundai Marine Solution generated revenue of 2.1T KRW at a net margin of 14.7%. Revenue grew 18.3% year over year. It earns a return on equity of 39.0%. Net debt stands at 32.2B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 78,190 KRW (bear case) to 154,260 KRW (bull case); at 210,500 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 26% below its 52-week high and 35% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −50%, 443060 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 108,185 KRW 204,373 KRW 415,025 KRW 72
EPV 69,464 KRW 80,353 KRW 90,032 KRW 71
Growth DCF 106,262 KRW 198,269 KRW 373,451 KRW 71
All 26 models by family
DCF Models
FCF DCF 108,185 KRW 204,373 KRW 415,025 KRW 72
Owner Earnings 94,445 KRW 183,947 KRW 359,303 KRW 69
5Y Revenue Exit 77,139 KRW 131,020 KRW 205,811 KRW 68
5Y EBITDA Exit 90,016 KRW 159,066 KRW 248,646 KRW 70
5Y P/E Exit 100,607 KRW 182,134 KRW 279,622 KRW 66
10Y Revenue Exit 84,077 KRW 141,096 KRW 232,998 KRW 62
10Y EBITDA Exit 95,150 KRW 162,801 KRW 271,725 KRW 64
10Y P/E Exit 102,499 KRW 180,654 KRW 299,730 KRW 59
Earnings-Based
Graham-Dodd 40,888 KRW 226,239 KRW 314,008 KRW 61
Lynch FV 63,095 KRW 90,135 KRW 117,176 KRW 58
PEG = 1.0 63,095 KRW 90,135 KRW 117,176 KRW 55
EPV 69,464 KRW 80,353 KRW 90,032 KRW 71
Dividend Discount
Gordon GGM 46,169 KRW 100,795 KRW 169,592 KRW 63
DDM Multi-Stage 46,169 KRW 82,568 KRW 105,045 KRW 64
Multiples
P/E Multiple 94,705 KRW 126,273 KRW 157,842 KRW 63
P/S Multiple 66,339 KRW 88,452 KRW 110,564 KRW 58
P/B Multiple 62,087 KRW 82,783 KRW 103,478 KRW 55
EV/EBIT 107,345 KRW 140,540 KRW 173,735 KRW 66
EV/EBITDA 86,670 KRW 112,973 KRW 139,276 KRW 67
EV/Revenue 63,485 KRW 87,367 KRW 111,249 KRW 54
Asset-Based
NCAV (Graham) 9,198 KRW 12,325 KRW 18,396 KRW 54
Growth DCF
Growth DCF 106,262 KRW 198,269 KRW 373,451 KRW 71
Rev-Margin DCF 77,139 KRW 129,503 KRW 201,241 KRW 68
Economic Profit
Residual Income 36,695 KRW 43,234 KRW 151,015 KRW 61
ROIC Compounder 76,061 KRW 96,433 KRW 120,880 KRW 69
Growth Earnings
Growth-Adj P/E 91,384 KRW 130,549 KRW 169,714 KRW 65

Widest divergence: DCF Models (162,801 KRW) versus Asset-Based (12,325 KRW). Highest evidence: FCF DCF (72).

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Key figures & financial health

P/S ratio 4.23 TTM
Dividend yield 2.0%
Net margin 13.6% FY2025
Return on equity 39.0% TTM
Return on assets (EBIT) 27.2% avg 5y
Operating margin 16.3% TTM
More key figures
Growth
Revenue (TTM) 2.1T KRW TTM
Revenue growth (YoY) +18.3% 3y avg +14.1%
EPS growth (YoY) +55.0%
Balance sheet & cash flow
Free cash flow 306B KRW FY2025
Net debt 32.2B KRW FY2023 · ≈ 0.1 yrs of FCF

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

Quality Score breakdown

Overall quality 74/100

Of which business quality 75 · Market factors (momentum, volatility) 49

Profitability 85
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 76
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 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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.0T KRW
Latest YoY
+13.6%
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.
+14.1%
Value creation/yr (5Y, in KRW) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
+26.4% (24.4 + 2.0)
Revenue +16.2%/yr
FY21 1.1T KRW
FY22 1.3T KRW
FY23 1.4T KRW
FY24 1.7T KRW
FY25 2.0T KRW
Net income +31.7%/yr
FY21 89.6B KRW
FY22 105B KRW
FY23 151B KRW
FY24 228B KRW
FY25 270B KRW

443060 screens 101% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "HD Hyundai Marine Solution Fair Value". https://www.fairvalue-calculator.com/stock/443060

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 74 · Top 25%
Fair Value upside −50% · Above median
Return on equity (TTM) 39% · Top 25%
Return on assets 17% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 16% · Above median
Revenue growth 18% · Above median
Dividend yield (TTM) 2.0% · Top 25%
Debt / equity 0.04× · 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
FUTURE92 · sector 50
PAST100 · sector 38
HEALTH98 · sector 93
DIVIDEND39 · 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).

Stock Price Fair Value vs Fair Value
General Electric Company GE $335.71 $116.71 −65%
RTX Corporation RTX $212.08 $88.37 −58%
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%
L3Harris Technologies, Inc LHX $262.82 $146.55 −44%
Thales S.A HO €243.70 €171.13 −30%

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Frequently asked questions

Is HD Hyundai Marine Solution (443060) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 104,493 KRW versus a price of 210,500 KRW, about −50% upside (overvalued).
What is the fair value of 443060?
Our model-based fair value for HD Hyundai Marine Solution is 104,493 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 210,500 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 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 Aug 13, 2026).
What is the net profit margin of 443060?
The net profit margin of HD Hyundai Marine Solution is about 14.7%, meaning it keeps roughly 14.7% of revenue as net income. Based on the latest reported figures.
Does HD Hyundai Marine Solution pay a dividend?
HD Hyundai Marine Solution currently shows a dividend yield of about 1.97% relative to its recent price (as of Aug 13, 2026).
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