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sindoh Co.,Ltd. (029530.KS)

Company Dividend Discount ModelIndustry: Business Equipment & SuppliesSector: Industrials

Valuation Snapshot

Stable Growth$31,394.80 - $44,387.60$37,819.61
Multi-Stage$91,028.36 - $100,640.97$95,736.16
Blended Fair Value$66,777.88
Current Price$44,250.00
Upside50.91%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-3.84%-5.23%1,500.271,509.181,652.420.001,140.461,824.741,881.761,710.691,368.551,710.69
YoY Growth---0.59%-8.67%0.00%-100.00%-37.50%-3.03%10.00%25.00%-20.00%-33.33%
Dividend Yield--3.99%3.81%4.90%0.00%3.80%8.18%3.95%2.57%2.69%3.39%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)43,598.46
(-) Cash Dividends Paid (M)12,934.17
(=) Cash Retained (M)30,664.29
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8,719.695,449.813,269.88
Cash Retained (M)30,664.2930,664.2930,664.29
(-) Cash Required (M)-8,719.69-5,449.81-3,269.88
(=) Excess Retained (M)21,944.6025,214.4827,394.40
(/) Shares Outstanding (M)8.628.628.62
(=) Excess Retained per Share2,545.412,924.693,177.54
LTM Dividend per Share1,500.271,500.271,500.27
(+) Excess Retained per Share2,545.412,924.693,177.54
(=) Adjusted Dividend4,045.674,424.964,677.81
WACC / Discount Rate6.29%6.29%6.29%
Growth Rate-5.84%-4.84%-3.84%
Fair Value$31,394.80$37,819.61$44,387.60
Upside / Downside-29.05%-14.53%0.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)43,598.4641,488.2039,480.0837,569.1635,750.7334,020.3235,040.93
Payout Ratio29.67%41.73%53.80%65.87%77.93%90.00%92.50%
Projected Dividends (M)12,934.1717,314.3821,240.2624,745.5427,861.7330,618.2932,412.86

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.29%6.29%6.29%
Growth Rate-5.84%-4.84%-3.84%
Year 1 PV (M)16,118.0216,289.1916,460.37
Year 2 PV (M)18,406.4218,799.4619,196.65
Year 3 PV (M)19,962.3320,605.1221,261.57
Year 4 PV (M)20,923.1521,826.2522,758.27
Year 5 PV (M)21,404.4822,565.4823,776.33
PV of Terminal Value (M)687,963.87725,279.83764,197.76
Equity Value (M)784,778.26825,365.33867,650.93
Shares Outstanding (M)8.628.628.62
Fair Value$91,028.36$95,736.16$100,640.97
Upside / Downside105.71%116.35%127.44%

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