# Hyundai Autoever (307950.KO)

Canonical: https://gigainvestors.com/s/307950.KO

Analysis as of: 2026-10-16T07:36:58.926Z. Financial observations: FY2015–FY2025.

Listing currency: KRW. Reporting currency: KRW.

## Verdict

A wonderful business at too high a price

Quality tests for Buy: pass (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: KRW 306,000.00 per share; close as of 2026-10-15.

Estimated value: low KRW 118,224.70 per share, central KRW 131,636.55 per share, high KRW 149,490.57 per share. Buy at or below the central value KRW 131,636.55 per share. Valuation as of 2026-10-16T07:36:58.926Z; scenarios are not confidence intervals.

Expected annual return: 5.7% at the stated quote. About 5.7% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; KR 10-year bond 4.2% + 4 points).

## Checklist

### understandable: pass

- 2 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 2

- Years with a net loss: 0

- Operating margin variation: 0.09×

Chart: Operating margin; fiscal year observations.

- FY2016: 0.06×

- FY2017: 0.05×

- FY2018: 0.05×

- FY2019: 0.05×

- FY2020: 0.06×

- FY2021: 0.05×

- FY2022: 0.05×

- FY2023: 0.06×

- FY2024: 0.06×

- FY2025: 0.06×

### moat: pass

- ROIC, median of available years: 18.3%

- ROIC, second-lowest year: 15.6%

- Typical minus recent gross margin: 0.2 pp

- Typical gross margin (annual median): 10.7%

- Recent gross margin (lower of latest and 3-year median): 10.5%

- Years with nonpositive capital: 0

- Capital spending / revenue: 1.6%

- ROIC including acquisitions, ten-year median: 15.7%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: 48.6%

- FY2017: 36.8%

- FY2018: 27.9%

- FY2019: 15.6%

- FY2020: 17.5%

- FY2021: 12.0%

- FY2022: 16.6%

- FY2023: 19.1%

- FY2024: 19.7%

- FY2025: 15.9%

### economics: pass

- Owner earnings / net income, 5-yr: 1.05×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: KRW 706B

- Net income, five-year total: KRW 675B

- Working capital / revenue, annual change: 0.3 pp

- Working capital / revenue, change between three-year averages: 2.0 pp

- Working capital / revenue, final three-year average: 12.4%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.59×

- FY2022: 1.38×

- FY2023: 1.24×

- FY2024: 0.79×

- FY2025: 0.73×

### management: pass

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 36.8% vs 19.1%

- Per-share earnings: 2613.92 to 6228.00 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 5-year annual growth: 5.5%

- Diluted shares, 5-year annual growth: 5.5%

- Per-share value growth: 15.6%

- Per-share value change: KRW 4K

- Per-share value, starting three-year median: KRW 3K

- Per-share value, ending three-year median: KRW 6K

- Buybacks concentrated in cheaper years (correlation): 1.00

- Average buyback yield: 0.0%

- Buyback history: 2 years

- Debt-funded buybacks: No

- Cumulative net income, 10 years: KRW 962B

- ROIC, first three-year median: 36.8%

- ROIC, last three-year median: 19.1%

Chart: Earnings per share; fiscal year observations.

- FY2017: KRW 3K

- FY2018: KRW 3K

- FY2019: KRW 3K

- FY2020: KRW 3K

- FY2021: KRW 3K

- FY2022: KRW 4K

- FY2023: KRW 5K

- FY2024: KRW 6K

- FY2025: KRW 7K

### accounting: pass

- Sloan accruals: -6.7%

- Receivables to sales index (DSRI): 0.95×

- Restructuring years, last five: 0

- Earnings backed by cash: Yes

- Operating cash / earnings: 2.32×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 0.29×

Chart: Sloan accruals; fiscal year observations.

- FY2016: 2.4%

- FY2017: 1.0%

- FY2018: 1.0%

- FY2019: -2.4%

- FY2020: -5.3%

- FY2021: -6.4%

- FY2022: -3.3%

- FY2023: -2.5%

- FY2024: -2.5%

- FY2025: -6.7%

## Holders

## Price story

Down 67% since May 2026 · sales +14.5%

Story as of 2026-10-16T10:00:08.445Z; price observation 2026-10-15.

Price needs cash profits to grow 12.8% a year for ten years

### Sales · FY2024–2025

sales +14.5%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: KRW 1.34T 

- FY2017: KRW 1.47T 

- FY2018: KRW 1.42T 

- FY2019: KRW 1.57T 

- FY2020: KRW 1.56T 

- FY2021: KRW 2.07T 

- FY2022: KRW 2.75T 

- FY2023: KRW 3.07T 

- FY2024: KRW 3.71T 

- FY2025: KRW 4.25T 

### Gross margin · FY2025

gross margin 10.5%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: 10.7% 

- FY2017: 10.5% 

- FY2018: 10.2% 

- FY2019: 10.4% 

- FY2020: 10.9% 

- FY2021: 11.1% 

- FY2022: 10.9% 

- FY2023: 11.1% 

- FY2024: 10.6% 

- FY2025: 10.5% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in information technology services; annual sales are KRW 4.3 trillion.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2025-12-31 (filed 2026-10-16T07:36:58.926Z); FY2025: revenue 4252067261000; grossProfit 445535087000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 307950.KO: Hyundai Autoever Corporation provides information and communication technology services in South Korea and internationally. The company offers vehicle IT services, such as mobility SW and SW development environment platforms, edge cloud computing, digital cockpit, and high definition map. It also provides DT services, including intelligent factory, mobility as a service, and enterprise IT solutions. In addition, it offers various core technologies consisting of cloud, big data, artificial intelligence, and cyber and vehicle securities. The company was formerly known as Autoever Systems Co., Ltd. and changed its name to Hyundai Autoever Corporation in January 2011. Hyundai Autoever Corporation was founded in 2000 and is headquartered in Seoul, South Korea.

### Why customers stay

Margins ranged from 10.5% to 11.1% during 2023–25; it earns 18.3% on its capital.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2023-12-31 (filed 2026-10-16T07:36:58.926Z); FY2023: grossProfit / revenue = 11.1%.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2024-12-31 (filed 2026-10-16T07:36:58.926Z); FY2024: grossProfit / revenue = 10.6%.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2025-12-31 (filed 2026-10-16T07:36:58.926Z); FY2025: grossProfit / revenue = 10.5%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:58.926Z); 10-year return on capital observations [[2016,0.4861066032474053],[2017,0.3678526140124869],[2018,0.27902167053021204],[2019,0.1557703837893908],[2020,0.17519658155163706],[2021,0.1203114583339979],[2022,0.16575273062362825],[2023,0.19069072624347272],[2024,0.19726859191174076],[2025,0.15859271047072807]]; median 0.1829436538975549. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Can it raise prices

Kept about a 11% gross margin through 2022 cost inflation.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:58.926Z); Gross margin observations: [[2021,0.11072251717705997],[2022,0.108836332649816],[2023,0.1106740659245306]]; range within 2 percentage points.

### Where the cash goes

Spends 37.5% of cash earnings on expansion; paid dividends in 10 of 10 years.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2016-12-31 (filed 2026-10-16T07:36:58.926Z); FY2016: growth capex 0; upkeep 31710024150; owner earnings 46381241260. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2017-12-31 (filed 2026-10-16T07:36:58.926Z); FY2017: growth capex 0; upkeep 20806905160; owner earnings 24786131040. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2018-12-31 (filed 2026-10-16T07:36:58.926Z); FY2018: growth capex 0; upkeep 20806905160; owner earnings 47808410690. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2019-12-31 (filed 2026-10-16T07:36:58.926Z); FY2019: growth capex 0; upkeep 16449495990; owner earnings 61005679450. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2020-12-31 (filed 2026-10-16T07:36:58.926Z); FY2020: growth capex 0; upkeep 16623484470; owner earnings 76728268410. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2021-12-31 (filed 2026-10-16T07:36:58.926Z); FY2021: growth capex 0; upkeep 24804615420; owner earnings 110726287846. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2022-12-31 (filed 2026-10-16T07:36:58.926Z); FY2022: growth capex 0; upkeep 50113110490; owner earnings 157717281274. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2023-12-31 (filed 2026-10-16T07:36:58.926Z); FY2023: growth capex 0; upkeep 62589490000; owner earnings 170372027600. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2024-12-31 (filed 2026-10-16T07:36:58.926Z); FY2024: growth capex 1443184000; upkeep 141456196000; owner earnings 134924147800. Growth capex / owner earnings = 0.010696261740628167.

- Source: https://eodhd.com/api/fundamentals/307950.KO.json#2025-12-31 (filed 2026-10-16T07:36:58.926Z); FY2025: growth capex 49769100346.490875; upkeep 187306841653.50912; owner earnings 132638641146.49088. Growth capex / owner earnings = 0.3752232374841966.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:58.926Z); Dividend observations: [[2016,14473432300],[2017,14250169800],[2018,14250169800],[2019,15090772000],[2020,14910000000],[2021,16591949270],[2022,19196181200],[2023,33287567000],[2024,39215056000],[2025,49753235000]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 75.5% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 307950.KO SharesStats.PercentInsiders = 75.5 percentage points; cache date 2026-10-16.

### What the price says

The price assumes cash profits grow 12.8% yearly over ten years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:36:58.926Z); Ten-year compound average after fade. Initial solved rate 0.1722062701503314. Price 306000; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03.  Closing-price date 2026-10-15.

## Monthly share-price history (KRW per share)

- 2019-03: KRW 82,100.00 per share

- 2019-04: KRW 77,900.00 per share

- 2019-05: KRW 63,900.00 per share

- 2019-06: KRW 61,100.00 per share

- 2019-07: KRW 51,500.00 per share

- 2019-08: KRW 53,300.00 per share

- 2019-09: KRW 54,100.00 per share

- 2019-10: KRW 52,200.00 per share

- 2019-11: KRW 49,150.00 per share

- 2019-12: KRW 50,400.00 per share

- 2020-01: KRW 45,800.00 per share

- 2020-02: KRW 37,100.00 per share

- 2020-03: KRW 31,450.00 per share

- 2020-04: KRW 39,450.00 per share

- 2020-05: KRW 44,900.00 per share

- 2020-06: KRW 37,550.00 per share

- 2020-07: KRW 39,750.00 per share

- 2020-08: KRW 42,300.00 per share

- 2020-09: KRW 61,900.00 per share

- 2020-10: KRW 64,500.00 per share

- 2020-11: KRW 80,400.00 per share

- 2020-12: KRW 123,500.00 per share

- 2021-01: KRW 122,500.00 per share

- 2021-02: KRW 130,000.00 per share

- 2021-03: KRW 118,000.00 per share

- 2021-04: KRW 103,500.00 per share

- 2021-05: KRW 113,000.00 per share

- 2021-06: KRW 135,500.00 per share

- 2021-07: KRW 128,000.00 per share

- 2021-08: KRW 117,000.00 per share

- 2021-09: KRW 98,500.00 per share

- 2021-10: KRW 116,500.00 per share

- 2021-11: KRW 112,000.00 per share

- 2021-12: KRW 138,000.00 per share

- 2022-01: KRW 130,000.00 per share

- 2022-02: KRW 107,500.00 per share

- 2022-03: KRW 120,500.00 per share

- 2022-04: KRW 135,000.00 per share

- 2022-05: KRW 134,000.00 per share

- 2022-06: KRW 112,500.00 per share

- 2022-07: KRW 125,500.00 per share

- 2022-08: KRW 120,500.00 per share

- 2022-09: KRW 103,500.00 per share

- 2022-10: KRW 118,500.00 per share

- 2022-11: KRW 111,000.00 per share

- 2022-12: KRW 95,500.00 per share

- 2023-01: KRW 112,000.00 per share

- 2023-02: KRW 113,600.00 per share

- 2023-03: KRW 112,600.00 per share

- 2023-04: KRW 122,800.00 per share

- 2023-05: KRW 126,000.00 per share

- 2023-06: KRW 140,200.00 per share

- 2023-07: KRW 153,000.00 per share

- 2023-08: KRW 175,700.00 per share

- 2023-09: KRW 186,600.00 per share

- 2023-10: KRW 130,000.00 per share

- 2023-11: KRW 185,000.00 per share

- 2023-12: KRW 211,500.00 per share

- 2024-01: KRW 148,000.00 per share

- 2024-02: KRW 149,300.00 per share

- 2024-03: KRW 144,000.00 per share

- 2024-04: KRW 154,000.00 per share

- 2024-05: KRW 148,000.00 per share

- 2024-06: KRW 164,400.00 per share

- 2024-07: KRW 164,300.00 per share

- 2024-08: KRW 161,300.00 per share

- 2024-09: KRW 156,300.00 per share

- 2024-10: KRW 135,100.00 per share

- 2024-11: KRW 140,000.00 per share

- 2024-12: KRW 126,100.00 per share

- 2025-01: KRW 143,000.00 per share

- 2025-02: KRW 131,700.00 per share

- 2025-03: KRW 119,300.00 per share

- 2025-04: KRW 123,200.00 per share

- 2025-05: KRW 143,400.00 per share

- 2025-06: KRW 170,600.00 per share

- 2025-07: KRW 154,100.00 per share

- 2025-08: KRW 175,600.00 per share

- 2025-09: KRW 152,700.00 per share

- 2025-10: KRW 203,500.00 per share

- 2025-11: KRW 202,000.00 per share

- 2025-12: KRW 332,000.00 per share

- 2026-01: KRW 461,500.00 per share

- 2026-02: KRW 501,000.00 per share

- 2026-03: KRW 358,500.00 per share

- 2026-04: KRW 450,500.00 per share

- 2026-05: KRW 931,000.00 per share

- 2026-06: KRW 530,000.00 per share

- 2026-07: KRW 364,500.00 per share

- 2026-08: KRW 421,500.00 per share

- 2026-09: KRW 369,500.00 per share

- 2026-10: KRW 341,000.00 per share

## Annual estimated value (KRW per share)

- FY2020: low KRW 41,015.89 per share, central KRW 44,909.02 per share, high KRW 50,091.61 per share

- FY2021: low KRW 56,604.39 per share, central KRW 61,020.37 per share, high KRW 66,898.98 per share

- FY2022: low KRW 79,230.89 per share, central KRW 86,663.67 per share, high KRW 96,558.27 per share

- FY2023: low KRW 91,633.92 per share, central KRW 100,642.81 per share, high KRW 112,635.55 per share

- FY2024: low KRW 105,353.06 per share, central KRW 116,267.79 per share, high KRW 130,797.60 per share

- FY2025: low KRW 116,873.68 per share, central KRW 129,370.04 per share, high KRW 146,005.34 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.