GuruFocus Report 0P0000BK9A

GuruFocus Manual of Stocks™ | Oct 08, 2020
Hyundai Department Store Co Ltd (XKRX:069960) www.gurufocus.com/stock/XKRX:069960
Hyundai Department Store Co Ltd (XKRX:069960) Ratios Valuation Analysis Dividend & Ownership
Industry Historical % of Price Dividend Yield(ttm) % 1.75
Current
[1] 57,000.00 Median Median NCAV -121818 -214 Dividend Yield(forward) % 1.75
Retail - Cyclical - Department Stores P/E (ttm) 10.08 21.90 10.23 Price 57000.00 Payout 0.18
Market Cap: 1,259,084 Mil Forward P/E 5.88 20.88 N/A Median P/S 130337 229 Dividend Growth(5y) % 7.9
Hyundai Department Store Co Ltd is engaged in the department store P/B 0.29 1.48 0.96 Graham Number 155134 272 Yield on Cost(5y) % 2.56
business. Through its department stores, the company provides upscale
P/S 0.61 0.63 1.35 Tangible Book 189180 332 Continuous Div. since 2016
apparels, fashion goods, and accessories, home furnishings and foods, among
P/FCF N/A 10.03 17.03 Insider Ownership % N/A
others.
Shiller P/E 4.36 16.27 6.7 Institution Ownership % 16.23
PEG 3.65 1.96 4.48
As of 10-08-2020 * All financial numbers are in billions except for per share data, ratios and percentage change.
Financial Strength
Industry Historical 200000
Score: 5 /10 Current
Median Median
Cash-to-Debt 0.53 0.49 0.50 Gain(%) SP500(%)
73500
Equity-to-Asset 0.51 0.40 0.56 1W 1.24 1.8
Interest Coverage 8.18 7.71 31.08 1M 1.24 0.3
F-Score 5 4 5
3M
53000 -7.77 5.9
Profitability 6M -9.38 22.1
Industry Historical YTD -31.41 5.9
Score: 7 /10 Current 242848
Median Median
1Y -22.87 18.1
Operating Margin (%) 8.98 2.05 21.60
Net Margin (%) 5.99 0.92 14.80 3Y -12.26
ROE (%) 3.00 2.66 8.15 5Y
121424 -14.54
ROA (%) 1.63 1.00 4.55
ROC (Joel Greenblatt) (%) 4.71 6.13 10.15
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Current Performance
Growth (per share)
10 Yr 5 Yr 1 Yr 148000 200000 184500 174000 167000 166500 147500 118500 119500 106000 90000 Annual Price High
Revenue Growth (%) -2.7 6.7 5.5 93200 121500 119000 146500 119500 116000 108000 85700 84200 68700 53000 Annual Price Low
EBITDA Growth (%) -4.6 2.6 -14.9 3157 3755 3663 3709 2833 2883 2477 2357 2039 1855 1259 Market Cap
EBIT Growth (%) -6.3 -2.7 -37.2 Sh. Outstanding-
19 23 23 23 23 23 23 23 23 22 22
EPS without NRI Growth diluted(Mil)
-4.3 -4.4 -40.1
(%) 9 10.7 11.4 12.4 10.6 12 9 9.3 8.5 9.6 10.1 Year End P/E
Free Cash Flow Growth 1.6 1.5 1.3 1.2 0.9 0.8 0.7 0.6 0.5 0.4 0.3 P/B
N/A N/A -244.3 1 2.6 2.4 2.4 1.8 1.7 1.4 1.3 1.1 0.9 0.6 P/S
(%)
Book Value Growth (%) 8.4 6.3 3.2 4.6 7 7.3 7.8 7.1 7.5 5.9 5.6 4.9 5.3 5.9 EV/EBITDA
Quarterly 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 TTM Per Share Data
Jun19 Sep19 Dec19 Mar20 Jun20 151043 63076 65983 66586 67367 72591 80377 81892 82556 97844 94550 Revenue Per Share
Revenue 533391.9 532155.82 612380.61 449563.99 516608.06 15476 15183 13974 12975 11652 10554 12101 11242 10594 8639 5654 EPS
Net Income 37882.28 40691.98 61152.57 16189.01 8484.64 18889 -16904 5111.1 -874.7 1065.1 -4408.8 4737.5 5439.9 9488.2 4560.1 -8492.6 Free Cashflow Per Share
EPS 1679 1812 2735 725 382 600 650 650 650 700 700 700 800 900 1000 1000 Dividends Per Share
Revenue 78993 104366 117595 128855 138589 149306 160571 173401 181324 188197 189180 Tang. Book Per Share
20.59 21.77 15.33 -13.71 -3.15 -- -- -- -- -- -- -- 112341 113953 134903 130337 Median P/S Value
(YoY) %
Net Income 165850 188821 192285 193953 190614 188295 209091 209430 207898 191262 155134 Graham Number
-4.54 -25.27 -7.53 -70.25 -77.6
(YoY) % 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 TTM Income Statement
EPS (YoY)
-4.55 -24.94 -6.72 -69.94 -77.25 2849k 1439k 1520k 1534k 1552k 1657k 1832k 1848k 1862k 2199k 2111k Revenue
%
63.6 82.8 83.5 84.2 83.4 84.1 82.8 83.1 81.2 74 71.6 Gross Margin %
Free Cash
-34278 76549 1655 -229155 -37932 576373 452394 426288 393231 363655 362826 383166 393669 356659 292245 189483 Operating Income
Flow
20.2 31.4 28.1 25.6 23.4 21.9 20.9 21.3 19.2 13.3 9 Operating Margin %
Cash 458757 595796 526726 703643 900282
291884 346414 321902 298870 268416 240907 275776 253707 238964 194143 126518 Net Income
Current
1177k 1358k 1365k 1472k 1789k 10.3 24.1 21.2 19.5 17.3 14.5 15.1 13.7 12.8 8.8 6 Net Margin %
Assets
15.6 15.5 12.4 10.4 8.6 7.2 7.7 6.6 5.9 4.6 3 ROE %
Short-Term
134946 230262 61185 569528 797377 5.5 6.5 6.4 5.4 4.8 4.1 4.3 3.8 3.5 2.7 1.6 ROA %
Debt
Current 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Jun20 Balance Sheet
1311k 1522k 1443k 1706k 2117k
Liabilities 200354 8907.6 74463 79465 17581 43935 69960 86391 241013 53663 428731 Cash & Equivalents
Total 5963k 4720k 5400k 5601k 5684k 6161k 6587k 6777k 6989k 7623k 8324k Total Assets
2477k 2670k 2644k 2901k 3358k
Liabilities 125724 398593 598213 429399 130000 678511 579174 -- 499133 871397 891985 Long-term Debt
Total 2087k 1828k 2164k 2055k 1895k 2130k 2277k 2160k 2159k 2644k 3358k Total Liabilities
Stockholders 4177k 4196k 4242k 4228k 4221k 2024k 2443k 2749k 3021k 3244k 3450k 3694k 3955k 4132k 4242k 4221k Total Stockholders Equity
Equity
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 TTM Cashflow Statement
712347 346923 431781 346347 398516 401136 442017 437234 435325 377485 203451 Cashflow from Operations
Warning Signs -855065 -678045 -692039 -215335 -193422 -542117 -524367 -145748 -134130 -501959 -402536 Cashflow from Investing
SEVERE Altman Z-Score: Distress -22.1 -294.6 -- -- -- -32232 -7767.2 -16358 -- -17002 -- Repurchase of Stock
SEVERE Gross Margin %: Declined -65828 212853 343828 -109500 -249243 218456 139000 -240000 -121070 22000 600630 Net Issuance of Debt
SEVERE Operating Margin %: Declined 220458 254895 325817 -126011 -266977 167337 108375 -275055 -146546 -62881 499780 Cashflow from Financing
77739 -76227 65556 5001.6 -61884 26356 26024 16431 154623 -187351 300700 Net Change in Cash
SEVERE Days Inventory: Building up
356238 -385690 117740 -20148 24535 -100636 107968 122767 214025 102484 -188883 Free Cash Flow
Good Signs Competitor
GOOD Dividend Yield %: Close to 10-year high Financial Operating
Ticker Company
Strength
Profitability Market Cap($M) P/E P/S
Margin(%)
ROA(%) ROE(%)
XKRX:023530 Lotte Shopping Co Ltd 4 4 1,968 0.00 0.13 1.10 -4.00 -12.35
XKRX:004170 Shinsegae Co Ltd 4 7 1,767 0.00 0.37 4.39 -2.05 -7.07
XKRX:069960 Hyundai Department Store Co Ltd 5 7 1,088 10.08 0.61 8.98 1.63 3.00
XKRX:027410 BGF Co Ltd 8 5 351 21.62 1.80 9.79 1.14 1.25
XKRX:037710 Gwangju Shinsegae Co Ltd 9 7 230 5.89 1.72 34.40 6.10 6.86
1/14
Financial Strength[2] (Quarterly data, as of Jun. 2020) : Fair (5/10) 0 1 2 3 4 5 6 7 8 9
Cash to Debt : 0.53 Piotroski F-Score : 5
Cash to Debt Ratio measures the financial strength of a company. It is The Piotroski score is used to determine the strength of a firm's financial
calculated as a company's cash, cash equivalents, and marketable position, with 9 being the best and 0 being the worst.
securities divide by its debt. A high ratio indicates that a company is better
0 1 2 3 4 5 6 7 8 9
able to pay back its debt, and is thus able to take on more debt if necessary.
Equity to Asset : 0.51 WACC : 5.06% vs ROIC : 1.88%
Equity to Asset ratio is calculated as shareholder's tangible equity divided by The weighted average cost of capital (WACC) is the rate that a company is
its total asset. Equity to Asset ratio can vary greatly across different expected to pay on average to all its security holders to finance its assets.
industries, as they have different capital structure. A company with smaller Return on invested capital (ROIC) measures how well a company generates
Equity to Asset ratio (more leveraged) may have higher ROE % because of cash flow relative to the capital it has invested in its business.
the leverage.
Dividend Yield : 1.78%

Debt to Equity : 0.40
Dividend yield is a way to measure how much cash flow you are getting for
Debt to Equity measures the financial leverage a company has. A high debt each dollar invested in an equity position.
to equity ratio generally means that a company has been aggressive in
financing its growth with debt. This can result in volatile earnings as a result
of the additional interest expense.
2/14
Profitability[3] (Annual data, as of Dec. 2019) : Good (7/10) 0 1 2 3 4 5 6 7 8 9
Revenue : 516,608 Mil vs Net Income : 8,485 Mil EPS without NRI : 382.00
Revenue is the amount of money that a company actually receives during a Earnings Per Share without Non-Recurring Items is the amount of earnings
specific period, including discounts and deductions for returned without non-recurring items per outstanding share of the company's stock. In
merchandise. Net Income is a company's total profit. Net income is calculating earnings per share without non-recurring items, the dividends of
calculated by taking revenues and adjusting for the cost of doing business, preferred stocks and Non Operating Income need to subtracted from the total
depreciation, interest, taxes and other expenses. net income first.
Cash & Equivalents : 428,731 Mil vs Long-Term Debt : 891,985 Mil Dividend per Share : 0.00
Cash equivalents are investments securities that are for short-term investing, Dividend per Share is the amount of dividends that the shareholders of a
and they have high credit quality and are highly liquid. Long-term debt company receive on a per-share basis. It is calculated using the total
consists of loans and financial obligations lasting over one year. dividends paid out to shareholders over one fiscal year and the number of
shares outstanding.
Operating Margin : 1.57%

Free Cash Flow Per Share : -1,709.56
Operating margin measures how much profit a company makes on a dollar
of sales. Operating Margin % is calculated as Operating Income divided by Free Cashflow per Share is the amount of Free Cashflow per outstanding
its Revenue. share of the company's stock.
3/14
Valuation (Quarterly data, as of Jun. 2020)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing
over time.
Valuation Chart (Current stock price : 57000.00) PS Ratio : 0.60
The price-to-sales ratio is a valuation ratio that compares a company’s stock

price to its revenues. The price-to-sales ratio is an indicator of the value
placed on each dollar of a company’s sales or revenues.
PE Ratio without NRI : 9.96
The price-to-earnings ratio can be affected by Non Operating Income such

as the sale of part of businesses. This may increase for the current year or Price-to-Free-Cash-Flow : 0.00
quarter dramatically. But it cannot be repeated over and over. Therefore P/E
(NRI) is a more accurate indication of valuation than Non Operating Income Price to free cash flow is very similar to the valuation metric of price to cash
PE Ratio. flow but is considered a more exact measure, owing to the fact that it uses
free cash flow, which subtracts capital expenditures from a company's total
operating cash flow, thereby reflecting the actual cash flow available to fund
non-asset-related growth.
PB Ratio : 0.29
The Price-to-Book Ratio measures the valuation of the stock relative to the
underlying asset of the company. EV-to-EBIT : 10.91
Enterprise value of a company divided by its Earnings Before Interest Taxes

(TTM).
4/14
Valuation Bands
In these charts the 15-year valuation bands of the price/earnings ratio (PE), price/book ratio (PB), price/sales ratio (PS) and price/operating-cash-flow ratio
(POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were
always traded at the maximum PE ratio of the past 15 years. The lower line of the PE band is where the stock price would have been if it were always traded
at the lowest PE ratio of the past 15 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.
Historical Price and PE Band Historical Price and PB Band
Historical Price and PS Band Historical Price and Price-to-Operating-Cash-Flow Band
5/14
Warning Signs
GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each
company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These
warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.
Severe Warning Signs Medium Warning Signs
Altman Z-Score : Distress Long-Term Debt : Issuing new debt

Altman Z-score of 1.13 is in distress zone. Hyundai Department Store Co Ltd has
This implies bankrupcy possibility in the been issuing new debt. Over the past 3
next two years. years, it issued KRW 453.4 billion of debt.
But overall, its debt level is acceptable.
Gross Margin % : Declined ROIC vs. WACC : Return on invested capital is less than weighted
average cost of capital.
Hyundai Department Store Co Ltd gross
margin has been in long term decline. The Companys's return on invested capital is
average rate of decline per year is -2%. less than weighted average cost of capital.
It might not be capital efficient
Operating Margin % : Declined

Hyundai Department Store Co Ltd
operating margin has been in 5-year
decline. The average rate of decline per
year is -8.8%.
Good Signs
Dividend Yield % : Close to 10-year high

Hyundai Department Store Co Ltd stock
dividend yield is close to 10-year high.
Price : Close to 10-year low

Price is close to 10-year low
PB Ratio : Close to 10-year low

PB Ratio (=0.28) is close to 10-year low of
0.28
6/14
Competitive Comparison
5 Year Price Change Comparison
Financial Strength
Financial Interest Piotroski F- Beneish M-
Company Cash-to-Debt Equity-to-Asset Debt-to-Equity Altman Z-Score WACC% ROIC%
Strength Coverage Score Score
XKRX:037710 Gwangju Shinsegae Co Ltd 9/10 597.17 0.90 0.00 183.50 6 3.49 -2.72 6.98 5.86
XKRX:027410 BGF Co Ltd 8/10 12.14 0.91 0.02 12.33 5 2.76 -2.46 8.96 0.70
XKRX:067830 Savezone I&C Corp 7/10 2.28 0.79 0.07 22.25 3 1.66 -2.45 5.77 2.73
XKRX:007070 GS Retail Co Ltd 5/10 0.15 0.31 1.40 3.86 7 1.93 -3.08 3.97 2.87
XKRX:069960 Hyundai Department Store Co Ltd 5/10 0.53 0.51 0.40 8.18 5 1.13 -2.71 5.06 1.88
XKRX:950170 JTC Inc 4/10 0.29 0.41 1.28 0.00 5 1.24 -4.21 0.00 -2.77
XKRX:023530 Lotte Shopping Co Ltd 4/10 0.19 0.31 1.62 0.38 5 0.75 -2.80 7.37 0.42
XKRX:004170 Shinsegae Co Ltd 4/10 0.09 0.26 1.60 1.92 5 0.70 -2.99 4.82 1.48
XKRX:019010 VenueG Co Ltd 4/10 0.39 0.44 0.82 1.05 7 0.42 -3.18 3.23 0.73
XKRX:006370 Daegu Department Store 3/10 0.11 0.39 0.70 0.00 2 0.21 -3.10 4.78 -1.52
Profitability
3-Year EPS
Operating Price-to-Free- ROC% (Joel 3-Year Revenue 3-Year EBITDA
Company Profitability Net Margin ROE% ROA% without NRI
Margin Cash-Flow Greenblatt) Growth% Growth%
Growth%
XKRX:037710 Gwangju Shinsegae Co Ltd 7/10 34.40 29.18 6.86 6.10 7.07 23.59 -9.50 5.90 1.70
XKRX:069960 Hyundai Department Store Co Ltd 7/10 8.98 5.99 3.00 1.63 0.00 4.71 6.80 -1.10 -10.60
XKRX:004170 Shinsegae Co Ltd 7/10 4.39 -4.87 -7.07 -2.05 4.51 -1.62 29.50 32.60 31.60
XKRX:007070 GS Retail Co Ltd 6/10 3.22 1.86 7.69 2.38 5.95 9.19 6.80 12.90 -21.40
XKRX:067830 Savezone I&C Corp 6/10 14.24 10.82 3.54 2.75 0.00 6.00 -4.50 -6.40 -6.30
XKRX:027410 BGF Co Ltd 5/10 9.79 8.28 1.25 1.14 33.81 9.92 -1.90 -51.90 -16.30
XKRX:950170 JTC Inc 4/10 -3.71 -8.02 -12.19 -4.95 6.20 -9.22 -9.10 -4.10 0.00
XKRX:023530 Lotte Shopping Co Ltd 4/10 1.10 -8.04 -12.35 -4.00 3.04 -6.31 -6.10 -13.90 0.00
XKRX:019010 VenueG Co Ltd 4/10 11.13 11.40 2.47 1.10 26.33 3.08 -5.40 -10.00 -35.80
XKRX:006370 Daegu Department Store 3/10 -11.61 -22.13 -7.88 -3.20 0.00 -3.54 -12.10 0.00 0.00
Valuation
Price-to-
Price-to- Price-to- Price-to-Peter- Price-to- Forward Rate of
Price-to- Intrinsic-Value- Earnings Yield
Company PE Ratio PB Ratio Intrinsic-Value- Median-PS- Lynch-Fair- Graham- Return
Tangible-Book DCF (Earnings (Greenblatt) %
Projected-FCF Value Value Number (Yacktman) %
Based)
XKRX:006370 Daegu Department Store 0.00 0.24 0.24 0.00 0.00 0.88 0.00 0.00 -6.56 -58.10
XKRX:950170 JTC Inc 0.00 0.62 0.63 0.00 0.00 0.00 0.00 0.00 -10.36 0.00
XKRX:023530 Lotte Shopping Co Ltd 0.00 0.21 0.27 0.25 0.00 0.40 0.00 0.00 -7.28 0.19
XKRX:004170 Shinsegae Co Ltd 0.00 0.60 0.69 6.94 0.00 0.50 0.00 0.00 -1.57 -0.82
XKRX:037710 Gwangju Shinsegae Co Ltd 5.89 0.40 0.39 0.27 0.00 0.90 0.00 0.32 35.79 22.96
XKRX:067830 Savezone I&C Corp 7.35 0.27 0.26 0.21 0.00 0.92 0.00 0.29 31.07 15.89
XKRX:019010 VenueG Co Ltd 9.72 0.22 0.24 0.61 0.00 2.05 0.66 0.32 5.80 -21.39
XKRX:069960 Hyundai Department Store Co Ltd 10.08 0.29 0.30 0.35 0.00 0.44 0.00 0.37 9.12 3.27
XKRX:007070 GS Retail Co Ltd 15.34 1.16 1.23 0.57 0.00 0.00 1.07 0.92 5.33 22.67
XKRX:027410 BGF Co Ltd 21.62 0.26 0.28 0.18 0.00 0.00 0.00 0.52 13.96 21.34
7/14
Peter Lynch Chart[4]
8/14
Per Share Data
Per Share Data
Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 TTM Fiscal Period
129,462 134,245 143,246 151,043 63,076 65,983 66,586 67,367 72,591 80,377 81,892 82,556 97,844 94,550 Revenue per Share
32,109 35,956 39,888 47,851 28,602 26,121 25,267 22,430 22,965 26,133 26,617 25,178 25,302 21,365 EBITDA per Share
26,145 29,524 31,598 38,915 25,201 21,886 20,443 17,448 17,423 19,837 20,290 18,307 15,864 11,392 EBIT per Share
9,709 11,748 12,578 15,476 15,183 13,974 12,975 11,652 10,554 12,101 11,242 10,594 8,639 5,654 Earnings per Share (diluted)
9,709 11,748 12,578 15,476 15,183 13,974 12,975 11,652 10,554 12,101 11,242 10,594 8,639 5,654 eps without NRI
-- -- -- -- 4,952 4,556 232 3,609 820 5,227 5,680 6,146 6,355 -3,823 Owner Earnings per Share (TTM)
10,075 12,212 2,722 18,889 -16,904 5,111 -875 1,065 -4,409 4,738 5,440 9,488 4,560 -8,493 Free Cashflow per Share
600 600 600 600 650 650 650 700 700 700 800 900 1,000 1,000 Dividends per Share
58,012 66,208 90,898 89,430 106,076 119,328 131,150 140,843 151,369 162,572 175,349 183,201 190,027 191,098 Book Value per Share
51,028 62,940 80,460 78,993 104,366 117,595 128,855 138,589 149,306 160,571 173,401 181,324 188,197 189,180 Tangible Book per Share
15,512 20,056 27,239 20,362 22,286 37,233 32,519 21,732 31,570 37,810 27,471 22,127 41,776 76,479 Total Debt per Share
116,000 63,400 112,500 139,500 163,000 159,000 161,000 123,000 126,500 109,000 104,500 90,400 83,100 57,000 Month End Stock Price
Ratios
13.95 15.80 14.77 15.62 15.51 12.40 10.36 8.57 7.20 7.72 6.63 5.91 4.64 3.00 Return on Equity %
4.75 5.51 5.32 5.47 6.49 6.36 5.43 4.76 4.07 4.33 3.80 3.47 2.66 1.63 Return on Assets %
22.22 24.48 23.10 25.00 18.22 14.99 13.04 10.21 9.34 10.08 9.76 8.51 6.89 4.71 Return on Capital %
8.81 9.93 10.43 9.97 7.45 7.31 6.07 5.17 4.81 4.95 4.26 4.00 3.17 1.88 Return on Invested Capital %
-- 11.61 11.52 11.06 8.71 7.65 7.24 8.39 5.47 5.23 3.74 5.46 5.09 5.06 Weighted Average Cost Of Capital (WACC) %
4.89 5.25 5.94 4.68 2.95 2.03 1.13 0.88 1.47 2.05 1.66 2.62 2.50 1.93 Effective Interest Rate on Debt %
59.89 58.85 60.26 63.55 82.80 83.47 84.17 83.43 84.11 82.79 83.12 81.18 73.98 71.58 Gross Margin %
18.37 18.78 19.48 20.23 31.43 28.05 25.64 23.43 21.90 20.92 21.30 19.15 13.29 8.98 Operating Margin %
7.50 8.75 8.78 10.25 24.07 21.18 19.49 17.30 14.54 15.05 13.73 12.83 8.83 5.99 Net Margin %
7.78 9.10 1.90 12.51 -26.80 7.75 -1.31 1.58 -6.07 5.89 6.64 11.49 4.66 -8.95 FCF Margin %
0.27 0.30 0.30 0.23 0.21 0.31 0.25 0.15 0.21 0.23 0.16 0.12 0.22 0.40 Debt to Equity
0.34 0.36 0.36 0.34 0.52 0.51 0.54 0.57 0.56 0.56 0.58 0.59 0.56 0.51 Total Equity to Total Asset
0.09 0.11 0.11 0.08 0.11 0.16 0.13 0.09 0.12 0.13 0.09 0.07 0.12 0.20 Total Debt to Total Asset
37.96 37.03 36.48 33.93 22.31 25.07 23.47 22.95 23.53 23.79 22.99 21.96 22.27 19.48 Gross Profit to Total Asset %
0.63 0.63 0.61 0.53 0.27 0.30 0.28 0.28 0.28 0.29 0.28 0.27 0.30 0.27 Asset Turnover
0.06 0.05 0.05 0.04 0.04 0.05 0.05 0.06 0.07 0.06 0.07 0.09 0.12 0.18 Dividend Payout Ratio
78.40 74.31 71.92 79.89 138 134 135 127 123 119 121 121 96.98 86.21 Days Sales Outstanding
163 150 161 189 828 836 813 739 609 521 534 503 263 211
Days Accounts Payable
25.76 24.44 20.82 20.34 77.46 58.53 63.45 70.80 79.47 69.11 70.24 91.17 95.14 126 Days Inventory
-58.45 -51.35 -68.20 -88.31 -613 -644 -615 -540 -407 -333 -343 -291 -71.22 0.95 Cash Conversion Cycle
14.17 14.93 17.54 17.95 4.71 6.24 5.75 5.16 4.59 5.28 5.20 4.00 3.84 2.89 Inventory Turnover
0.40 0.41 0.40 0.36 0.17 0.17 0.16 0.17 0.16 0.17 0.17 0.19 0.26 0.28 COGS to Revenue
0.03 0.03 0.02 0.02 0.04 0.03 0.03 0.03 0.04 0.03 0.03 0.05 0.07 0.10 Inventory to Revenue
9/14
Financial Satement
Income Statement
2,447,086 2,540,578 2,701,480 2,848,676 1,439,148 1,519,973 1,533,735 1,551,861 1,656,960 1,831,802 1,848,140 1,862,206 2,198,950 2,110,708 Revenue
981,595 1,045,425 1,073,638 1,038,324 247,506 251,326 242,831 257,090 263,315 315,229 311,902 350,466 572,131 599,836 Cost of Goods Sold
1,465,491 1,495,153 1,627,842 1,810,352 1,191,643 1,268,647 1,290,904 1,294,771 1,393,645 1,516,573 1,536,238 1,511,740 1,626,818 1,510,873 Gross Profit
59.89 58.85 60.26 63.55 82.80 83.47 84.17 83.43 84.11 82.79 83.12 81.18 73.98 71.58 Gross Margin %
604,667 596,906 655,475 807,002 475,285 516,136 546,262 550,249 619,989 674,662 653,117 615,631 752,651 713,921 Selling, General, & Admin. Expense
-- -- -- -- 148 144 144 141 141 139 139 244 332 350 Research & Development
411,279 421,252 446,250 426,977 263,816 326,079 351,267 380,726 410,689 458,605 489,315 539,206 581,591 607,119 Other Operating Expense
449,545 476,995 526,116 576,373 452,394 426,288 393,231 363,655 362,826 383,166 393,669 356,659 292,245 189,483 Operating Income
18.37 18.78 19.48 20.23 31.43 28.05 25.64 23.43 21.90 20.92 21.30 19.15 13.29 8.98 Operating Margin %
20,811 33,195 37,701 42,875 7,304 18,440 15,107 12,427 7,112 9,062 7,425 13,241 11,552 12,596 Interest Income
-17,208 -21,128 -28,711 -22,805 -14,380 -13,885 -9,084 -5,519 -8,977 -16,219 -12,299 -14,668 -17,916 -23,166 Interest Expense
3,603 12,067 8,990 20,069 -7,075 4,555 6,023 6,908 -1,865 -7,157 -4,873 -1,428 -5,663 -10,019 Net Interest Income
23,842 48,553 32,082 114,681 115,278 59,435 62,545 25,840 27,768 59,859 56,802 43,054 52,032 51,968 Other Income (Expense)
-129,212 -156,029 -175,081 -220,624 -48,095 -42,499 -38,696 -22,608 -39,355 -45,336 -48,543 -48,455 -48,868 -39,963 Other Income (Minority Interest)
476,990 537,614 567,188 711,123 560,597 490,278 461,799 396,403 388,730 435,869 445,598 398,285 338,613 231,432 Pre-Tax Income
-164,257 -159,259 -154,901 -198,615 -166,087 -125,877 -124,232 -105,379 -108,468 -114,757 -143,348 -110,866 -95,603 -64,951 Tax Provision
34.44 29.62 27.31 27.93 29.63 25.67 26.90 26.58 27.90 26.33 32.17 27.84 28.23 28.06 Tax Rate %
312,734 378,355 412,288 512,508 394,510 364,401 337,566 291,024 280,262 321,112 302,250 287,419 243,011 166,481 Net Income (Continuing Operations)
183,522 222,326 237,207 291,884 346,414 321,902 298,870 268,416 240,907 275,776 253,707 238,964 194,143 126,518 Net Income
7.50 8.75 8.78 10.25 24.07 21.18 19.49 17.30 14.54 15.05 13.73 12.83 8.83 5.99 Net Margin %
9,709 11,755 12,579 15,476 15,183 13,974 12,975 11,652 10,554 12,101 11,242 10,594 8,639 5,654 EPS (Basic)
9,709 11,748 12,578 15,476 15,183 13,974 12,975 11,652 10,554 12,101 11,242 10,594 8,639 5,654 EPS (Diluted)
18.90 18.93 18.86 18.86 22.82 23.04 23.03 23.04 22.83 22.79 22.57 22.56 22.47 22.19 Shares Outstanding (Diluted Average)
112,720 121,733 156,344 168,548 77,609 97,553 111,107 114,769 126,485 143,485 142,796 154,976 212,101 222,602 Depreciation, Depletion and Amortization
606,918 680,475 752,243 902,477 652,585 601,716 581,990 516,692 524,192 595,573 600,692 567,930 568,631 477,201 EBITDA
Cashflow Statement
312,734 378,355 412,288 512,508 394,510 364,401 337,566 291,024 280,262 321,112 302,250 287,419 243,011 166,481 Net Income
-17.63 54,073 -26,396 1,922 -6,297 5.73 -3.31 -1.14 -- -- -- -13.30 -249 -545 Net Foreign Currency Exchange Gain
312,734 378,355 412,288 512,508 394,510 364,401 337,566 291,024 280,262 321,112 302,250 287,419 243,011 166,481 Net Income From Continuing Operations
112,720 121,733 156,344 168,548 77,609 97,553 111,107 114,769 126,485 143,485 142,796 154,976 212,101 222,602 Depreciation, Depletion and Amortization
-40,493 29,489 -63,067 -93,158 -3,988 -41,864 -43,982 19,794 -25,678 -33,724 -22,775 -14,928 20,899 12,177 Change In Receivables
-15,724 -2,105 18,565 -11,650 -13,998 1,539 -5,360 -9,944 -4,984 264 -932 -54,130 -71,013 -140,551 Change In Inventory
22,188 -34,706 24,397 4,007 -- -- -- -- -- -- -- -- -- -- Change In Prepaid Assets
-42,901 -36,013 39,518 81,772 -76,468 -23,907 -87,308 -10,672 -38,655 -42,370 -41,768 -25,307 -45,356 -170,975 Change In Working Capital
-- -- -- -- 166,087 125,877 124,232 105,379 108,468 114,757 143,348 110,866 95,603 64,951 Change In DeferredTax
37,304 8,057 52,424 -50,482 -214,814 -132,143 -139,250 -101,985 -75,424 -94,966 -109,391 -92,630 -127,874 -79,610 Cash Flow from Others
419,856 472,132 660,574 712,347 346,923 431,781 346,347 398,516 401,136 442,017 437,234 435,325 377,485 203,451 Cash Flow from Operations
-222,677 -240,629 -466,452 -355,560 -732,613 -312,582 -363,422 -371,720 -501,231 -333,503 -314,398 -221,300 -273,468 -388,512 Purchase Of Property, Plant, Equipment
29,777 50,941 2,512 18,261 70,225 1,205 376 1,250 1,084 344 18.90 59.06 992 1,621 Sale Of Property, Plant, Equipment
-700 -20.86 -2,894 -2,600 -2,940 -- -- -16.64 -- -2,399 -- -2,438 -- -- Purchase Of Business
5,313 -- 82,919 19,708 10,228 -- -- -- -- -- -- 141,680 -- -- Sale Of Business
-385,131 -417,329 -671,366 -663,266 -206,196 -658,828 -364,927 -757,244 -971,372 -733,029 -779,273 -1,472,613 -658,957 -745,001 Purchase Of Investment
280,635 266,427 389,245 200,071 190,379 277,481 517,724 937,064 951,492 544,981 965,744 1,435,087 432,003 738,598 Sale Of Investment
-6,749 -386 -142,782 -549 107 -1,458 -2,823 -1,260 -312 288 -69.32 -- -143 -2,289 Net Intangibles Purchase And Sale
-47,644 -51,879 55,776 -71,131 -7,235 2,144 -2,262 -1,494 -21,779 -1,049 -17,772 -14,606 -2,386 -6,954 Cash From Other Investing Activities
-347,177 -392,876 -753,042 -855,065 -678,045 -692,039 -215,335 -193,422 -542,117 -524,367 -145,748 -134,130 -501,959 -402,536 Cash Flow from Investing
690 1,076 53.27 1,488 -- -- 1,500 -- -- -- -- -- -- -- Issuance of Stock
-- -4,116 -1,002 -22.05 -295 -- -- -- -32,232 -7,767 -16,358 -- -17,002 -- Repurchase of Stock
-9,442 48,018 32,345 -65,828 212,853 343,828 -109,500 -249,243 218,456 139,000 -240,000 -121,070 22,000 600,630 Net Issuance of Debt
-21,353 -21,923 -25,565 -26,223 -16,616 -18,011 -18,011 -17,735 -18,886 -15,954 -15,905 -18,046 -20,301 -- Cash Flow for Dividends
-83,375 -27,873 59,090 311,043 58,952 -- -- -- -- -6,904 -2,792 -7,430 -47,578 -100,850 Other Financing
-113,480 -4,817 64,921 220,458 254,895 325,817 -126,011 -266,977 167,337 108,375 -275,055 -146,546 -62,881 499,780 Cash Flow from Financing
-40,801 74,439 -27,547 77,739 -76,227 65,556 5,002 -61,884 26,356 26,024 16,431 154,623 -187,351 300,700 Net Change in Cash
-229,426 -241,015 -609,234 -356,108 -732,613 -314,041 -366,496 -373,981 -501,772 -334,049 -314,467 -221,300 -275,001 -392,333 Capital Expenditure
10/14
190,430 231,117 51,340 356,238 -385,690 117,740 -20,148 24,535 -100,636 107,968 122,767 214,025 102,484 -188,883 Free Cash Flow
11/14
Financial Satement
Balance Sheet
79,659 151,945 122,746 200,354 8,908 74,463 79,465 17,581 43,935 69,960 86,391 241,013 53,663 428,731 Cash And Cash Equivalents
219,624 352,190 494,630 1,131,569 150,089 525,054 392,814 173,012 195,617 383,924 194,893 229,441 473,064 471,552 Marketable Securities
299,283 504,135 617,376 1,331,923 158,996 599,517 472,279 190,593 239,552 453,884 281,283 470,455 526,726 900,282 Cash, Cash Equivalents, Marketable Securities
525,634 517,201 532,321 623,486 544,306 556,154 567,030 541,890 560,128 596,553 611,560 617,166 584,276 498,534 Accounts Receivable
4,501 3,050 6,519 8,980 920 757 611 698 961 990 789 1,257 1,103 1,445 Inventories, Raw Materials & Components
12,230 29,579 847 692 -- -- -- -- -- -- -- -- -- -- Inventories, Work In Process
-1,044 -970 -916 -916 -- -- -- -- -- -- -- -- -628 -939 Inventories, Inventories Adjustments
29,761 33,334 40,057 50,003 40,153 38,776 44,283 54,140 58,862 58,569 59,702 113,325 183,203 275,367 Inventories, Finished Goods
23,822 5,745 5,210 5,221 -- -- -- -- -- -- -- -- -- -0.00 Inventories, Other
69,270 70,738 51,717 63,981 41,072 39,534 44,894 54,838 59,822 59,559 60,491 114,582 183,678 275,874 Total Inventories
42,969 61,521 47,241 88,233 104,292 72,011 65,572 28,488 51,141 40,024 49,463 56,594 70,636 114,583 Other Current Assets
937,157 1,153,595 1,248,654 2,107,623 848,666 1,267,215 1,149,775 815,809 910,643 1,150,019 1,002,797 1,258,796 1,365,316 1,789,274 Total Current Assets
969,886 1,040,240 1,154,694 1,217,742 1,166,417 1,174,913 1,423,335 1,529,217 1,991,141 2,040,201 2,123,459 2,134,739 2,263,171 2,258,831 Land And Improvements
1,149,893 1,150,918 1,412,122 1,594,737 1,572,064 1,822,234 1,870,166 1,902,598 2,440,777 2,690,593 2,798,286 2,889,362 2,909,984 2,479,804 Buildings And Improvements
592,771 609,681 691,766 783,952 164,893 514,684 529,557 546,542 684,899 739,761 813,530 946,603 1,015,724 98,238 Machinery, Furniture, Equipment
76,537 139,890 229,813 216,619 571,956 549,921 584,376 900,389 157,526 100,847 185,617 157,871 253,960 169,021 Construction In Progress
2,830,075 2,982,336 3,509,607 3,834,679 3,805,994 4,084,880 4,421,801 4,891,556 5,292,402 5,591,031 5,940,889 6,150,541 6,865,682 5,716,643 Gross Property, Plant and Equipment
- - - -
-605,574 -641,524 -692,009 -780,620 -548,173 -617,010 -669,517 -774,543 -895,598 -- Accumulated Depreciation
1,014,244 1,130,276 1,256,859 1,405,495
2,224,502 2,340,811 2,817,598 3,054,060 3,257,821 3,467,870 3,752,284 4,117,013 4,396,804 4,576,787 4,810,613 4,893,682 5,460,186 5,716,643 Property, Plant and Equipment
158,390 73,935 196,853 236,180 39,401 39,938 52,849 51,923 47,026 45,481 43,943 42,330 40,851 42,360 Intangible Assets
151,319 67,275 190,693 253,108 17,606 17,606 17,606 16,915 16,915 16,915 16,915 16,915 16,915 16,915 Goodwill
540,811 646,744 445,959 565,478 574,175 625,052 645,799 699,177 806,374 814,975 919,928 793,754 756,740 775,894 Other Long Term Assets
3,860,860 4,215,086 4,709,064 5,963,340 4,720,063 5,400,076 5,600,706 5,683,921 6,160,847 6,587,262 6,777,282 6,988,562 7,623,094 8,324,172 Total Assets
437,311 429,919 473,400 536,337 561,670 575,855 541,124 520,179 439,662 450,299 456,115 483,141 412,776 347,406 Accounts Payable
117,209 119,428 103,405 139,771 79,047 73,021 74,063 59,146 71,156 84,866 78,448 104,766 46,118 40,734 Total Tax Payable
822,065 816,204 890,220 1,084,804 878,131 838,285 813,765 893,625 856,966 846,073 910,999 777,339 733,279 675,892 Accounts Payable & Accrued Expense
281,829 197,702 278,192 335,059 114,759 259,447 319,689 370,600 41,000 279,917 619,668 -- 61,185 797,377 Current Portion of Long-Term Debt
139,716 158,841 174,845 228,521 139,460 147,326 156,265 167,378 188,892 199,556 214,387 515,864 648,963 644,220 Other Current Liabilities
1,243,611 1,172,747 1,343,257 1,648,384 1,132,350 1,245,058 1,289,719 1,431,603 1,086,859 1,325,546 1,745,055 1,293,203 1,443,427 2,117,489 Total Current Liabilities
69,928 256,033 232,412 124,623 398,593 598,213 429,399 130,000 678,511 579,174 -- 499,133 499,428 455,224 Long-Term Debt
-- -- 3,096 1,101 -- -- -- -- -- -- -- -- 371,969 436,762 Capital Lease Obligation
69,928 256,033 235,508 125,724 398,593 598,213 429,399 130,000 678,511 579,174 -- 499,133 871,397 891,985 Long-Term Debt & Capital Lease Obligation
0.27 0.30 0.30 0.23 0.21 0.31 0.25 0.15 0.21 0.23 0.16 0.12 0.22 0.40 Debt to Equity
65,946 63,015 37,698 30,768 22,385 24,404 24,147 25,142 28,431 20,753 3,156 5,851 5,605 38,644 PensionAndRetirementBenefit
991,202 1,100,801 1,152,945 1,852,592 448,903 487,785 525,044 544,632 581,000 616,758 662,341 696,594 737,279 745,054 Minority Interest
174,639 124,618 225,404 282,110 274,341 295,865 311,340 308,204 336,166 351,194 411,342 361,283 323,379 309,800 Other Long-Term Liabilities
1,554,124 1,616,413 1,841,868 2,086,986 1,827,670 2,163,540 2,054,604 1,894,949 2,129,967 2,276,668 2,159,552 2,159,470 2,643,808 3,357,918 Total Liabilities
113,384 113,529 113,549 113,559 117,012 117,012 117,012 117,012 117,012 117,012 117,012 117,012 117,012 117,012 Common Stock
646,835 854,897 1,080,509 1,358,590 1,707,595 2,014,430 2,298,377 2,547,107 2,769,487 3,034,980 3,287,137 3,477,840 3,623,330 3,623,365 Retained Earnings
497,573 528,525 528,536 528,649 612,116 612,116 612,116 612,116 612,116 612,116 612,116 612,116 612,116 612,116 Additional Paid-In Capital
-- -57,590 -12,880 -12,731 -53,596 -53,596 -53,596 -53,596 -85,829 -93,596 -109,954 -109,954 -126,956 -143,166 Treasury Stock
1,315,534 1,497,872 1,714,252 2,023,763 2,443,490 2,748,751 3,021,058 3,244,341 3,449,880 3,693,836 3,955,389 4,132,499 4,242,007 4,221,199 Total Equity
0.34 0.36 0.36 0.34 0.52 0.51 0.54 0.57 0.56 0.56 0.58 0.59 0.56 0.51 Total Equity to Total Asset
12/14
Valuation Ratios
Valuation Ratios
11.95 5.40 8.94 9.01 10.74 11.38 12.41 10.56 11.99 9.01 9.30 8.53 9.62 10.08 PE Ratio(TTM)
-- -- -- -- 32.91 34.90 694 34.09 154 20.85 18.40 14.71 13.08 -- Price to Owner Earnings (TTM)
2.00 0.96 1.24 1.56 1.54 1.33 1.23 0.87 0.84 0.67 0.60 0.49 0.44 0.29 Price to Book
2.27 1.01 1.40 1.77 1.56 1.35 1.25 0.89 0.85 0.68 0.60 0.50 0.44 0.30 Price to Tangible Book
11.51 5.45 30.70 7.80 -- 31.11 -- 116 -- 23.01 19.21 9.53 18.23 -- Price-to-Free-Cash-Flow Ratio
5.22 2.66 3.35 3.88 10.72 8.48 10.71 7.11 7.19 5.62 5.40 4.68 4.95 6.27 Price-to-Operating-Cash-Flow Ratio
0.90 0.49 0.82 0.96 2.59 2.41 2.42 1.83 1.74 1.36 1.28 1.10 0.85 0.61 PS Ratio
-- -- -- -- -- 23.71 -- -- -- -- 5.92 3.15 3.83 3.65 PEG Ratio
1.50 0.98 1.17 1.45 3.17 2.90 2.94 2.38 2.38 1.92 1.82 1.48 1.36 1.33 EV-to-Revenue
6.05 3.65 4.22 4.59 6.98 7.33 7.75 7.14 7.52 5.87 5.59 4.87 5.27 5.85 EV-to-EBITDA
7.43 4.45 5.32 5.64 7.93 8.74 9.58 9.18 9.92 7.74 7.33 6.69 8.41 10.97 EV-to-EBIT
13.46 22.47 18.80 17.73 12.61 11.44 10.44 10.89 10.08 12.92 13.64 14.95 11.89 9.12 Return on Capital %
-- -- -- -- -- 3.76 -6.32 -11.64 -15.07 -5.74 2.92 5.69 6.45 3.27 Forward Rate of Return
-- -- -- -- -- -- -- -- -- 7.93 7.59 6.68 6.34 4.36 Shiller PE Ratio
-- 0.95 0.53 0.43 0.40 0.41 0.40 0.57 0.55 0.64 0.77 0.88 1.08 1.75 Dividend Yield %
Valuation and Quality
2,630,509 1,434,336 2,121,638 3,156,829 3,754,738 3,662,597 3,708,667 2,833,330 2,883,087 2,476,611 2,357,227 2,039,171 1,855,058 1,259,084 Market Cap
3,674,185 2,484,737 3,170,907 4,138,282 4,557,997 4,408,524 4,510,520 3,687,968 3,944,046 3,498,576 3,357,953 2,764,442 2,998,193 2,793,218 Enterprise Value
116,000 63,400 112,500 139,500 163,000 159,000 161,000 123,000 126,500 109,000 104,500 90,400 83,100 57,000 Month End Stock Price
-99,046 -97,822 -126,064 -115,232 -91,928 -89,073 -91,485 -97,633 -108,437 -107,369 -112,630 -105,758 -127,865 -144,989 Net Cash (per share)
-70,917 -69,115 -92,590 -80,954 -61,988 -60,087 -62,073 -70,491 -78,992 -76,730 -80,644 -70,810 -90,299 -104,743 Net Current Asset Value (per share)
-80,134 -79,112 -103,523 -93,155 -73,314 -70,107 -72,048 -78,799 -88,692 -86,366 -90,955 -82,698 -104,121 -121,818 Net-Net Working Capital (per share)
-- -- -- -- -- 134,102 130,432 122,595 120,553 111,865 158,103 172,129 189,658 162,843 Projected FCF (per share)
-- -- -- -- -- -- -- -- -- -- 112,341 113,953 134,903 130,337 Median PS (per share)
-- -- -- -- -- 80,745 -- -- -- -- -- -- -- -- Peter Lynch Fair Value (per share)
105,580 128,985 150,899 165,850 188,821 192,285 193,953 190,614 188,295 209,091 209,430 207,898 191,262 155,134 Graham Number (per share)
-- -- -- -- 62,194 54,776 26,531 22,455 -28,097 -1,607 -223 26,697 23,245 -8,982 Earnings Power Value (EPV)
2.21 1.85 1.98 2.20 2.37 2.13 2.18 1.90 1.89 1.77 1.70 1.72 1.52 1.13 Altman Z-Score
9,999 9,999 6.00 7.00 4.00 8.00 6.00 5.00 7.00 8.00 5.00 5.00 5.00 5.00 Piotroski F-Score
-- -- -2.98 -2.68 -2.30 -2.62 -2.48 -2.56 -2.58 -2.57 -2.50 -2.65 -2.70 -2.71 Beneish M-Score
0.61 0.66 0.66 0.64 0.54 0.74 0.71 0.73 0.79 0.77 0.75 0.72 0.77 0.73 Scaled Net Operating Assets
2.87 3.39 7.00 7.29 14.35 10.78 3.00 1.11 6.20 5.44 -0.56 -0.89 4.18 3.91 Sloan Ratio (%)
0.75 0.98 0.93 1.28 0.75 1.02 0.89 0.57 0.84 0.87 0.57 0.97 0.95 0.84 Current Ratio
0.70 0.92 0.89 1.24 0.71 0.99 0.86 0.53 0.78 0.82 0.54 0.88 0.82 0.71 Quick Ratio
128,000 123,000 124,000 148,000 200,000 184,500 174,000 167,000 166,500 147,500 118,500 119,500 106,000 91,300 Highest Stock Price
72,900 46,300 55,800 93,200 121,500 119,000 146,500 119,500 116,000 108,000 85,700 84,200 68,700 52,600 Lowest Stock Price
-- 0.23 16.64 -19.99 -1.79 -- -- -- 1.06 0.31 0.72 -- 1.04 2.07 Shares Buyback Ratio (%)
-- 3.69 6.71 5.44 -58.24 4.61 0.91 1.17 7.75 10.73 1.88 0.81 18.52 5.46 YoY Rev. per Sh. Growth (%)
-- 21.00 7.07 23.04 -1.89 -7.96 -7.15 -10.20 -9.42 14.66 -7.10 -5.76 -18.45 -40.09 YoY EPS Growth (%)
-- 11.98 10.93 19.97 -40.23 -8.68 -3.27 -11.23 2.38 13.80 1.85 -5.41 0.49 -14.93 YoY EBITDA Growth (%)
-- -- -- -- -- 0.48 -8.43 -13.94 -14.62 -3.26 1.57 2.71 2.51 2.60 EBITDA 5-Y Growth (%)
18.90 18.91 18.86 18.86 22.82 23.04 23.03 23.04 22.83 22.79 22.57 22.56 22.47 22.19 Shares Outstanding (Basic Average)
22.68 22.62 18.86 22.63 23.04 23.04 23.04 23.04 22.79 22.72 22.56 22.56 22.32 22.09 Shares Outstanding (EOP)
0.96 1.32 1.23 1.25 0.91 0.91 0.82 1.26 0.73 0.71 0.36 0.83 0.85 0.96 Beta
13/14
Explanation
1. Predictability Rank
GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of
their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found
that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability
also have better stock performance.
The rank is from 1-star to 5-star, with 5-star as the best.
2. Financial Strength
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3. Altman Z-Score.
The rank is from 1 to 10, with 10 as the highest.
A Financial Strength rank of 7 or above indicates good financial strength; between 4-6 indicates fair financial strength; 3 or below means poor financial
strength.
3. Profitability Rank
GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these
factors:
1. Operating Margin percentage

2. Piotroski F-Score.
3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
4. Consistency of the profitability.
5. Predictability Rank.
The rank is from 1 to 10, with 10 as the highest.
A Profitability Rank of 7 or above indicates good financial strength; between 4-6 indicates fair financial strength; 3 or below means poor financial strength.
4. Peter Lynch Chart
In his excellent book, "One Up on Wall Street," Peter Lynch used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced
is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price
fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”
The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the
stock price and earnings line coincide, the price/earnings ratio is always 15 times. Instead of using the fixed P/E ratio 15, our approach is using 15-year
historical median P/E ratio for each stock.
The peter Lynch Chart with earnings line at median P/E ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as
coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or
service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and
so forth.
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GuruFocus Manual of Stocks™ | Oct 08, 2020

Hyundai Department Store Co Ltd (XKRX:069960) www.gurufocus.com/stock/XKRX:069960

Financial Strength[2] (Quarterly data, as of Jun. 2020) : Fair (5/10) 0 1 2 3 4 5 6 7 8 9

Cash to Debt : 0.53 Piotroski F-Score : 5

Equity to Asset : 0.51 WACC : 5.06% vs ROIC : 1.88%

Dividend Yield : 1.78%

Profitability[3] (Annual data, as of Dec. 2019) : Good (7/10) 0 1 2 3 4 5 6 7 8 9

Operating Margin : 1.57%

Valuation (Quarterly data, as of Jun. 2020)

Valuation Chart (Current stock price : 57000.00) PS Ratio : 0.60

The price-to-sales ratio is a valuation ratio that compares a company’s stock

PE Ratio without NRI : 9.96

The price-to-earnings ratio can be affected by Non Operating Income such

Enterprise value of a company divided by its Earnings Before Interest Taxes

Historical Price and PE Band Historical Price and PB Band

Historical Price and PS Band Historical Price and Price-to-Operating-Cash-Flow Band

Severe Warning Signs Medium Warning Signs

Altman Z-Score : Distress Long-Term Debt : Issuing new debt

Operating Margin % : Declined

Dividend Yield % : Close to 10-year high

Price : Close to 10-year low

PB Ratio : Close to 10-year low

5 Year Price Change Comparison

Peter Lynch Chart[4]

Per Share Data

Per Share Data

Valuation and Quality

The rank is from 1-star to 5-star, with 5-star as the best.

The rank is from 1 to 10, with 10 as the highest.

1. Operating Margin percentage

The rank is from 1 to 10, with 10 as the highest.

4. Peter Lynch Chart

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