Hyundai

On valuation, the picture is attractive. The owner-earnings multiple stands at 7.3×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around -8% a year, against analyst forecasts of 12%. The price, in other words, assumes less than the experts do.

Growth is moderate; the safety picture is stretched. The company scores 10/20 on our value-creation score: creating some value.

Flags to be aware of: Some accounting patterns deserve a closer look. As always: this describes the company's numbers; it is not a recommendation.