Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Woori Financial Group Inc. (316140.KS)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$236,868.26 - $856,447.13$750,864.86
Multi-Stage$106,568.83 - $116,703.37$111,542.85
Blended Fair Value$431,203.85
Current Price$22,450.00
Upside1,820.73%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.95%0.00%1,173.931,307.65875.44492.33675.74584.91449.93449.93224.96674.89
YoY Growth---10.23%49.37%77.82%-27.14%15.53%30.00%0.00%100.00%-66.67%0.00%
Dividend Yield--7.11%9.29%7.67%3.21%6.69%7.65%3.18%2.94%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,222,065.00
(-) Cash Dividends Paid (M)356,011.00
(=) Cash Retained (M)2,866,054.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)644,413.00402,758.13241,654.88
Cash Retained (M)2,866,054.002,866,054.002,866,054.00
(-) Cash Required (M)-644,413.00-402,758.13-241,654.88
(=) Excess Retained (M)2,221,641.002,463,295.882,624,399.13
(/) Shares Outstanding (M)748.19748.19748.19
(=) Excess Retained per Share2,969.343,292.323,507.65
LTM Dividend per Share475.83475.83475.83
(+) Excess Retained per Share2,969.343,292.323,507.65
(=) Adjusted Dividend3,445.173,768.153,983.48
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate5.50%6.50%7.50%
Fair Value$236,868.26$750,864.86$856,447.13
Upside / Downside955.09%3,244.61%3,714.91%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,222,065.003,431,499.233,654,546.673,892,092.214,145,078.204,414,508.294,546,943.53
Payout Ratio11.05%26.84%42.63%58.42%74.21%90.00%92.50%
Projected Dividends (M)356,011.00920,991.231,557,914.752,273,747.133,076,055.543,973,057.464,205,922.77

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)852,382.88860,462.34868,541.80
Year 2 PV (M)1,334,449.481,359,867.001,385,524.30
Year 3 PV (M)1,802,518.941,854,262.781,906,987.52
Year 4 PV (M)2,256,893.522,343,687.282,432,960.67
Year 5 PV (M)2,697,869.682,828,177.792,963,473.11
PV of Terminal Value (M)70,789,992.0474,209,175.1377,759,218.40
Equity Value (M)79,734,106.5583,455,632.3287,316,705.80
Shares Outstanding (M)748.19748.19748.19
Fair Value$106,568.83$111,542.85$116,703.37
Upside / Downside374.69%396.85%419.84%

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