Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hansol Chemical Co., Ltd. (014680.KS)

Company Dividend Discount ModelIndustry: ChemicalsSector: Basic Materials

Valuation Snapshot

Stable Growth$2,337,434.93 - $2,753,894.38$2,580,802.34
Multi-Stage$4,274,932.48 - $4,693,568.50$4,480,333.09
Blended Fair Value$3,530,567.72
Current Price$209,000.00
Upside1,589.27%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.18%15.60%2,124.832,237.362,263.441,910.421,495.521,196.04997.001,086.63911.50598.20
YoY Growth---5.03%-1.15%18.48%27.74%25.04%19.96%-8.25%19.21%52.37%20.00%
Dividend Yield--1.80%1.10%0.95%0.78%0.62%1.52%1.21%1.54%1.19%0.87%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)154,003.45
(-) Cash Dividends Paid (M)23,858.96
(=) Cash Retained (M)130,144.49
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)30,800.6919,250.4311,550.26
Cash Retained (M)130,144.49130,144.49130,144.49
(-) Cash Required (M)-30,800.69-19,250.43-11,550.26
(=) Excess Retained (M)99,343.80110,894.06118,594.23
(/) Shares Outstanding (M)11.1211.1211.12
(=) Excess Retained per Share8,932.599,971.1410,663.51
LTM Dividend per Share2,145.302,145.302,145.30
(+) Excess Retained per Share8,932.599,971.1410,663.51
(=) Adjusted Dividend11,077.8912,116.4412,808.81
WACC / Discount Rate-16.22%-16.22%-16.22%
Growth Rate5.50%6.50%7.50%
Fair Value$2,337,434.93$2,580,802.34$2,753,894.38
Upside / Downside1,018.39%1,134.83%1,217.65%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)154,003.45164,013.68174,674.56186,028.41198,120.26210,998.07217,328.02
Payout Ratio15.49%30.39%45.30%60.20%75.10%90.00%92.50%
Projected Dividends (M)23,858.9649,850.2979,119.70111,983.51148,785.33189,898.27201,028.42

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-16.22%-16.22%-16.22%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)58,942.8059,501.5060,060.20
Year 2 PV (M)110,614.16112,721.05114,847.82
Year 3 PV (M)185,115.69190,429.70195,844.44
Year 4 PV (M)290,812.02301,995.82313,499.15
Year 5 PV (M)438,870.38460,067.99482,076.87
PV of Terminal Value (M)46,459,306.5648,703,308.4451,033,193.55
Equity Value (M)47,543,661.6249,828,024.5152,199,522.04
Shares Outstanding (M)11.1211.1211.12
Fair Value$4,274,932.48$4,480,333.09$4,693,568.50
Upside / Downside1,945.42%2,043.70%2,145.73%

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