Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

SM Entertainment Co., Ltd. (041510.KQ)

Company Dividend Discount ModelIndustry: EntertainmentSector: Communication Services

Valuation Snapshot

Stable Growth$120,705.68 - $184,339.15$150,481.25
Multi-Stage$249,039.76 - $274,587.67$261,560.94
Blended Fair Value$206,021.09
Current Price$130,000.00
Upside58.48%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%1,228.521,239.30204.430.000.000.000.000.000.000.00
YoY Growth---0.87%506.23%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.14%1.49%0.22%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)309,968.88
(-) Cash Dividends Paid (M)12,888.06
(=) Cash Retained (M)297,080.82
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)61,993.7838,746.1123,247.67
Cash Retained (M)297,080.82297,080.82297,080.82
(-) Cash Required (M)-61,993.78-38,746.11-23,247.67
(=) Excess Retained (M)235,087.04258,334.71273,833.15
(/) Shares Outstanding (M)22.8922.8922.89
(=) Excess Retained per Share10,268.2811,283.7011,960.65
LTM Dividend per Share562.93562.93562.93
(+) Excess Retained per Share10,268.2811,283.7011,960.65
(=) Adjusted Dividend10,831.2111,846.6312,523.59
WACC / Discount Rate6.79%6.79%6.79%
Growth Rate-2.00%-1.00%0.00%
Fair Value$120,705.68$150,481.25$184,339.15
Upside / Downside-7.15%15.75%41.80%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)309,968.88306,869.20303,800.50300,762.50297,754.87294,777.32303,620.64
Payout Ratio4.16%21.33%38.49%55.66%72.83%90.00%92.50%
Projected Dividends (M)12,888.0665,443.80116,947.14167,413.86216,859.55265,299.59280,849.10

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.79%6.79%6.79%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)60,661.5461,280.5461,899.54
Year 2 PV (M)100,479.97102,541.04104,623.04
Year 3 PV (M)133,329.50137,452.80141,660.26
Year 4 PV (M)160,087.84166,722.73173,561.76
Year 5 PV (M)181,535.40190,988.37200,831.09
PV of Terminal Value (M)5,065,546.625,329,321.395,603,971.76
Equity Value (M)5,701,640.875,988,306.876,286,547.44
Shares Outstanding (M)22.8922.8922.89
Fair Value$249,039.76$261,560.94$274,587.67
Upside / Downside91.57%101.20%111.22%

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