HD HyundaiHD현대

HD Hyundai is a holding company whose shares have fallen sharply over the past year, while its trailing profits have recovered from 2025 levels.

HD Hyundai owns stakes in shipbuilding, engine, refining, green energy and other subsidiaries. Trailing twelve-month revenue to H1 2026 was about ₩79.0T with operating income of ₩10.6T and net income of ₩2.7T, well above full-year 2025. The share price closed at ₩132,200 on 2026-10-26, down about 27% over one year and near its 52-week low of ₩132,100.

What stands out

• Trailing operating margin is 13.5% and net margin 3.5%, compared with 8.6% and 1.4% for full-year 2025 (net income ₩963B in 2025).
• Borrowings of ₩16.7T exceed cash of ₩14.0T, and liabilities are 160.1% of equity.
• Data shows a price-to-book of 0.9 and a price-to-earnings of 3.8, with a 3% dividend yield; the fair value model gives a base of ₩121,477, bear ₩80,985 and bull ₩170,068.
• Recent filings include a cash dividend decision, an exchangeable bond issue of about ₩588.7B tied to HD Hyundai Marine Solution shares, and a report of a serious accident at a consolidated subsidiary.
• Headlines report that HD Hyundai Heavy concluded wage talks with a ₩120,000 base pay raise, removing near-term strike risk.

What to watch

• Details of the cash dividend and record date, and the use of exchangeable bond proceeds for debt repayment.
• Follow-up filings and any financial impact from the serious accident at a consolidated subsidiary.
• Foreign ownership (26.5% now, down from 27.2% sixty days earlier) and 20-day flows, where institutions were net sellers and retail net buyers.