Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hankuk Carbon Co., Ltd. (017960.KS)

Company Dividend Discount ModelIndustry: ChemicalsSector: Basic Materials

Valuation Snapshot

Stable Growth$225,828.03 - $266,063.68$249,340.63
Multi-Stage$464,666.68 - $510,198.43$487,006.37
Blended Fair Value$368,173.50
Current Price$32,700.00
Upside1,025.91%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.71%4.33%109.34112.96130.33156.4099.4282.8582.85107.70100.0599.36
YoY Growth---3.20%-13.33%-16.67%57.31%20.00%0.00%-23.08%7.65%0.70%38.83%
Dividend Yield--0.81%1.05%1.06%1.33%0.81%1.49%1.01%1.72%1.50%1.40%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)66,242.00
(-) Cash Dividends Paid (M)6,398.31
(=) Cash Retained (M)59,843.69
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13,248.408,280.254,968.15
Cash Retained (M)59,843.6959,843.6959,843.69
(-) Cash Required (M)-13,248.40-8,280.25-4,968.15
(=) Excess Retained (M)46,595.2951,563.4454,875.54
(/) Shares Outstanding (M)49.5149.5149.51
(=) Excess Retained per Share941.051,041.391,108.28
LTM Dividend per Share129.22129.22129.22
(+) Excess Retained per Share941.051,041.391,108.28
(=) Adjusted Dividend1,070.281,170.611,237.51
WACC / Discount Rate-18.19%-18.19%-18.19%
Growth Rate5.50%6.50%7.50%
Fair Value$225,828.03$249,340.63$266,063.68
Upside / Downside590.61%662.51%713.65%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)66,242.0070,547.7375,133.3380,017.0085,218.1090,757.2893,479.99
Payout Ratio9.66%25.73%41.80%57.86%73.93%90.00%92.50%
Projected Dividends (M)6,398.3118,149.9531,402.2746,300.7163,003.2781,681.5586,469.00

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-18.19%-18.19%-18.19%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)21,977.3522,185.6722,393.98
Year 2 PV (M)46,042.7246,919.7047,804.96
Year 3 PV (M)82,202.9884,562.7386,967.21
Year 4 PV (M)135,445.00140,653.83146,011.47
Year 5 PV (M)212,629.63222,899.72233,562.87
PV of Terminal Value (M)22,509,208.4323,596,411.6224,725,224.62
Equity Value (M)23,007,506.1024,113,633.2625,261,965.12
Shares Outstanding (M)49.5149.5149.51
Fair Value$464,666.68$487,006.37$510,198.43
Upside / Downside1,321.00%1,389.32%1,460.24%

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