Posco Holdings Inc. (PKX) intrinsic value & 10-year financials
Posco Holdings Inc. (PKX) has a Graham intrinsic value of $87,022.68 per share. Over the last 10 fiscal years revenue grew 2.6% a year to $73.5T, with an average return on invested capital of 3.7%.
- Graham intrinsic value
- $87,022.68
- Revenue (FY2024)
- $73.5T
- Revenue growth (10-yr CAGR)
- 2.6%
- ROIC (10-yr avg)
- 3.7%
- Free cash flow (FY2024)
- -$1.0T
PKX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2024 | $73.5T | $1.0T | $12,640.00 | -$1.0T | 2.0% | 1.4% |
| FY2023 | $77.1T | $1.8T | $22,383.00 | -$565.6B | 3.6% | 2.5% |
| FY2022 | $85.0T | $3.6T | $39,296.00 | $1.3T | 5.1% | 5.3% |
| FY2021 | $76.0T | $7.2T | $85,240.00 | $3.2T | 11.5% | 9.9% |
| FY2020 | $57.5T | $1.7T | $19,900.00 | $5.5T | 3.6% | 2.8% |
| FY2019 | $64.8T | $2.0T | $23,189.00 | $3.5T | 5.0% | 3.3% |
| FY2018 | $65.2T | $1.9T | $21,177.00 | $3.7T | 6.2% | 3.3% |
| FY2017 | $60.2T | $2.9T | — | $3.3T | 7.0% | 4.5% |
| FY2016 | $52.9T | $1.0T | — | $2.9T | 4.3% | 2.5% |
| FY2015 | $58.5T | -$116.2B | — | $5.0T | 2.5% | 1.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
POSCO HOLDINGS INC. has demonstrated mature, steady growth, with revenue compounding at 2.6% annually over the past decade.
POSCO HOLDINGS INC. has historically struggled to out-earn its cost of capital, averaging just 4.0% ROIC.
POSCO HOLDINGS INC. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, POSCO HOLDINGS INC. is modeled at -0.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $87022.68 per share.