SUPER HI INTERNATIONAL HOLDING LTD.
HDLdata completeness 88%3 fiscal years on fileData notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'
SUPER HI INTERNATIONAL HOLDING LTD. earns about 8% on invested capital, below its ~9% cost of capital, but has diluted owners by 17% over 3 years — no moat visible in the numbers. The estimate methods put fair value between $0.35 and $2.8 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenue | $558.2M1 | $686.4M1 | $778.3M1 |
| Net income | −$41.2M2 | $25.7M2 | $21.8M2 |
| Operating cash flow | $68.3M3 | $114M3 | $119.7M3 |
| Capital expenditure | $60.5M4 | $32.8M4 | $34.7M4 |
| Free cash flow (derived) | $7.85M3 | $81.2M3 | $85M3 |
| Total debt | — | — | — |
| Cash & equivalents | $93.9M5 | $152.9M5 | $254.7M5 |
| Diluted shares | 557.4M | 557.4M | 650.3M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $5.54 of net worth that earned you $0.34 and generated $1.31 of cash last year.
It earned about 8% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.
seeing a moat in the numbers →Share count is up 17% over 3 years — owners have been diluted. Worth asking what they got for it.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $0.35 and $2.8 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$81.2M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$81.2M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$21.8M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $2.18 |
| Base | 5.0% | $2.61 |
| Bull | 10.0% | $3.13 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 20-F · period ending 2022-12-31 · accession 0001410578-25-000859 (RevenueFromContractsWithCustomers)
- 20-F · period ending 2022-12-31 · accession 0001410578-25-000859 (ProfitLossAttributableToOwnersOfParent)
- 20-F · period ending 2022-12-31 · accession 0001410578-25-000859 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2022-12-31 · accession 0001410578-25-000859 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2022-12-31 · accession 0001410578-25-000859 (CashAndCashEquivalents)