005380 KR · Hyundai Motor Company Common StockMW GOBLIN RESEARCH

Hyundai Motor (005380): Margin and Cash Recovery Are Key

Analysis date

Published

Key Summaries

Neutral as of 2026-09-30. Hybrid expansion and shareholder returns are positive, but declining sales and investment burdens remain. The condition for making the current price more attractive is a concurrent improvement in automotive profitability and post-investment cash flow.

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What this report covers

  • Hybrid expansion must overcome weak sales
  • Confirm cash generation after investment
  • Distinguish the effects of dividend policy and treasury share cancellation