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Hyundai Motor Co. logo
005380.KRX
Hyundai Motor Co.
Consumer Discretionary · Automobile Manufacturers

South Korean multinational automotive manufacturer and global automaker.

HQ: South KoreaListed: South Korea

Historical AI Opinions

Audit every published iPulse AI forecast batch and immutable historical research document for Hyundai Motor Co..

Historical AI ConsensusHistorical AI Opinions

Hyundai Motor Co. Ltd. (005380.KRX) AI OPINIONS & ADVISOR ANALYSIS

Read and compare the 14 individual AI Advisor deep-dive reports, including their forecast paths, ratings, price targets, and reasoning.

Updated on 20 September 2026Deep analysis 20 September 2026

PublisherRusslan Ramdowar
25 min readAudit All Past Forecasts

1. Investment Thesis — Base Case

The central tension is that Hyundai is priced as a permanently impaired exporter while its impairment has a scheduled expiry. Tariffs cost the group roughly $5bn in 2025 [15], but Metaplant America converts that cost into US capacity over 2027-2029, and hybrids — a record 18.9% of Q2 volume [9] — defend margin without battery-cost drag. Meanwhile the value-up contract retires stock below book. The base case is not a re-rating to glory: it is book-value compounding at mid-single digits plus modest multiple repair, delivering low-teens total return with high path volatility as tariff headlines and robotics narratives alternate.

  • Retained earnings at 8-9% and 35% payout compound roughly 5% annually from KRW 566,000 per share.
  • Multiple drifting from 0.68x toward 0.78x on that book path implies roughly KRW 555,000 by 2031.
  • Cross-check: USD 53.5bn capitalisation values 4.16m annual units at under USD 13,000 each.

Historical prices and published forecast

Historical prices and published forecastObserved prices and the selected advisor's published projection share a split-adjusted price basis. Prices after the forecast start are later observations, not information known at publication. Forecasts are uncertain. Values in KRW.95.26K267.28K439.3K611.32K783.34KSep 2021Mar 2024Sep 2026Mar 2029Sep 2031Forecast starts
  • Observed price
  • Published advisor forecast
Observed prices and the selected advisor's published projection share a split-adjusted price basis. Prices after the forecast start are later observations, not information known at publication. Forecasts are uncertain. Values in KRW.
View chart values
Historical prices and published forecast — published chart values
SeriesDateValue (KRW)
Observed price2021-09-14209,000
Observed price2021-10-04193,800
Observed price2021-10-08205,000
Observed price2021-10-28210,750
Observed price2021-11-17205,750
Observed price2021-11-21215,125
Observed price2021-11-29198,000
Observed price2021-12-15210,250
Observed price2021-12-19206,125
Observed price2021-12-27214,375
Observed price2022-01-12211,500
Observed price2022-01-28189,500
Observed price2022-02-05188,625
Observed price2022-02-25173,500
Observed price2022-03-01175,833
Observed price2022-03-13165,625
Observed price2022-03-25175,625
Observed price2022-04-10179,250
Observed price2022-04-18180,000
Observed price2022-04-30185,375
Observed price2022-05-12180,500
Observed price2022-06-01187,500
Observed price2022-06-05185,100
Observed price2022-06-17170,000
Observed price2022-07-07175,000
Observed price2022-07-19188,500
Observed price2022-07-23192,500
Observed price2022-08-04196,500
Observed price2022-08-28189,375
Observed price2022-09-05199,875
Observed price2022-09-17200,375
Observed price2022-09-29178,000
Observed price2022-10-03176,800
Observed price2022-10-23163,250
Observed price2022-10-27162,250
Observed price2022-11-12172,625
Observed price2022-12-02170,000
Observed price2022-12-10161,750
Observed price2022-12-14160,750
Observed price2022-12-30152,600
Observed price2023-01-07161,500
Observed price2023-01-27173,900
Observed price2023-01-31167,000
Observed price2023-02-16179,300
Observed price2023-02-24173,900
Observed price2023-02-28176,300
Observed price2023-03-20176,000
Observed price2023-04-09185,700
Observed price2023-04-21192,350
Observed price2023-05-03201,000
Observed price2023-05-07202,200
Observed price2023-05-11209,250
Observed price2023-06-08196,750
Observed price2023-06-20201,650
Observed price2023-06-24201,425
Observed price2023-07-02207,500
Observed price2023-07-18202,750
Observed price2023-08-07189,350
Observed price2023-08-19185,450
Observed price2023-08-31189,100
Observed price2023-09-08185,700
Observed price2023-09-20194,900
Observed price2023-10-06192,200
Observed price2023-10-14187,450
Observed price2023-10-22186,275
Observed price2023-10-30171,175
Observed price2023-11-15180,000
Observed price2023-11-27185,275
Observed price2023-12-13185,200
Observed price2023-12-29199,167
Observed price2024-01-02200,500
Observed price2024-01-22180,100
Observed price2024-01-26187,300
Observed price2024-02-11247,667
Observed price2024-02-19252,500
Observed price2024-02-27238,500
Observed price2024-03-22248,875
Observed price2024-04-03223,000
Observed price2024-04-07230,875
Observed price2024-04-27250,750
Observed price2024-05-09237,000
Observed price2024-05-21263,750
Observed price2024-05-29261,000
Observed price2024-06-14268,000
Observed price2024-06-26289,500
Observed price2024-07-04277,500
Observed price2024-07-16274,500
Observed price2024-07-28246,750
Observed price2024-08-05224,000
Observed price2024-08-17255,250
Observed price2024-08-29257,250
Observed price2024-09-10226,500
Observed price2024-09-26259,000
Observed price2024-10-04239,500
Observed price2024-10-16240,750
Observed price2024-11-05211,500
Observed price2024-11-13204,250
Observed price2024-11-25221,875
Observed price2024-12-07205,250
Observed price2024-12-23215,000
Observed price2025-01-04211,500
Observed price2025-01-12224,000
Observed price2025-01-20208,500
Observed price2025-02-09199,950
Observed price2025-02-13208,500
Observed price2025-03-05193,950
Observed price2025-03-09197,450
Observed price2025-03-25217,500
Observed price2025-04-02196,200
Observed price2025-04-10177,750
Observed price2025-05-08187,100
Observed price2025-05-12195,800
Observed price2025-05-24182,150
Observed price2025-06-09197,800
Observed price2025-06-13199,000
Observed price2025-06-25217,000
Observed price2025-07-11208,000
Observed price2025-07-23222,000
Observed price2025-08-04211,000
Observed price2025-08-20220,250
Observed price2025-08-28222,000
Observed price2025-09-09219,500
Observed price2025-09-29214,875
Observed price2025-10-03219,864
Observed price2025-10-11218,773
Observed price2025-10-31290,000
Observed price2025-11-04276,000
Observed price2025-11-24257,500
Observed price2025-11-28261,500
Observed price2025-12-10302,500
Observed price2025-12-22289,000
Observed price2026-01-11360,375
Observed price2026-01-15412,250
Observed price2026-01-23519,875
Observed price2026-02-08480,625
Observed price2026-02-28603,400
Observed price2026-03-04571,500
Observed price2026-03-24493,000
Observed price2026-04-01455,500
Observed price2026-04-17532,250
Observed price2026-04-25523,500
Observed price2026-05-11637,750
Observed price2026-05-19627,500
Observed price2026-05-31726,000
Observed price2026-06-08654,250
Observed price2026-06-28498,500
Observed price2026-07-06502,000
Observed price2026-07-18412,000
Observed price2026-07-30351,000
Observed price2026-08-15448,500
Observed price2026-08-23414,333
Observed price2026-09-04383,500
Observed price2026-09-12378,833
Observed price2026-09-21359,000
Observed price2026-09-23353,500
Published advisor forecast2026-09-18365,000
Published advisor forecast2026-12-18375,950
Published advisor forecast2027-03-18398,507
Published advisor forecast2027-06-18414,447
Published advisor forecast2027-09-18402,014
Published advisor forecast2027-12-18418,094
Published advisor forecast2028-03-18430,637
Published advisor forecast2028-06-18439,250
Published advisor forecast2028-09-18421,680
Published advisor forecast2028-12-18434,330
Published advisor forecast2029-03-18451,704
Published advisor forecast2029-06-18465,255
Published advisor forecast2029-09-18474,560
Published advisor forecast2029-12-18488,797
Published advisor forecast2030-03-18503,461
Published advisor forecast2030-06-18488,357
Published advisor forecast2030-09-18503,007
Published advisor forecast2030-12-18518,098
Published advisor forecast2031-03-18533,641
Published advisor forecast2031-06-18544,313
Published advisor forecast2031-09-18555,200

2. Scenarios & Signals

Bull case

Two clocks strike together: Metaplant reaches scale just as Boston Dynamics files to list. Localisation restores above 7%, earnings recover toward KRW 13tn, and a separately priced robotics asset forces analysts into sum-of-parts arithmetic that the 0.68x book multiple cannot survive. Korean Commercial Act reform and a holdco restructuring then remove the . Earnings recovery and compound, delivering returns far above the base path.

Bear case

Washington restores 25% duty while US consumer credit cracks. Tariff reversion removes roughly a fifth of operating profit [14], incentives escalate into weakening demand, and Hyundai Capital simultaneously absorbs rising credit losses — the double exposure that turns a margin problem into an earnings collapse. The KRW 17.8tn investment programme cannot be cut quickly, so buybacks are suspended, the value-up contract breaks, and the discount to book widens rather than narrows.

Current crowd narrative

The crowd has repriced Hyundai from tech story back to tariff victim. After the physical- round-tripped — records above KRW 700,000 in May [3] to KRW 365,000 in September — consensus treats 0.68x book and 9.7x trailing earnings as deserved, permanent chaebol discount. The anchoring bias is recency: the tariff shock and 20.8% Q2 profit decline [6] are extrapolated as structural rather than transitional.

Alpha-gap assessment

The crowd underestimates these shares. The decisive overlooked evidence is accounting, not narrative: the headline TTM free-cash-flow yield of minus 17.6% is dominated by Hyundai Capital's receivable origination, not industrial , so screens flag Hyundai as a cash incinerator when the manufacturing business self-funds. Layer on Metaplant localisation mechanically shrinking the dutiable base and a wholly owned robotics asset carried near cost, and 0.68x book prices where the evidence supports cyclical compression.

Convergence catalyst

The late-January 2027 FY print is the trigger: re-entering the guided 6.3%-7.3% band would falsify the structural-impairment thesis [6]. A Boston Dynamics listing filing in the same window would force sum-of-parts arithmetic. First repricing sign: foreign net buying in KRX auto names.

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