Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Korea United Pharm Inc. (033270.KS)

Company Dividend Discount ModelIndustry: Drug Manufacturers - Specialty & GenericSector: Healthcare

Valuation Snapshot

Stable Growth$74,714.03 - $252,341.89$122,328.48
Multi-Stage$72,167.37 - $79,175.45$75,605.61
Blended Fair Value$98,967.04
Current Price$18,820.00
Upside425.86%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS4.68%23.25%407.61390.48364.52344.81324.82324.29294.81245.67224.95211.14
YoY Growth--4.39%7.12%5.71%6.15%0.17%10.00%20.00%9.21%6.54%318.99%
Dividend Yield--2.10%1.60%1.75%0.78%0.66%1.65%1.16%0.89%1.23%1.07%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)41,780.69
(-) Cash Dividends Paid (M)6,620.07
(=) Cash Retained (M)35,160.62
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8,356.145,222.593,133.55
Cash Retained (M)35,160.6235,160.6235,160.62
(-) Cash Required (M)-8,356.14-5,222.59-3,133.55
(=) Excess Retained (M)26,804.4829,938.0332,027.07
(/) Shares Outstanding (M)15.0715.0715.07
(=) Excess Retained per Share1,779.071,987.052,125.70
LTM Dividend per Share439.39439.39439.39
(+) Excess Retained per Share1,779.071,987.052,125.70
(=) Adjusted Dividend2,218.462,426.442,565.09
WACC / Discount Rate6.53%6.53%6.53%
Growth Rate3.46%4.46%5.46%
Fair Value$74,714.03$122,328.48$252,341.89
Upside / Downside296.99%549.99%1,240.82%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)41,780.6943,644.4245,591.2947,625.0049,749.4351,968.6253,527.68
Payout Ratio15.84%30.68%45.51%60.34%75.17%90.00%92.50%
Projected Dividends (M)6,620.0713,388.3020,747.1828,735.9437,396.1346,771.7649,513.10

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.53%6.53%6.53%
Growth Rate3.46%4.46%5.46%
Year 1 PV (M)12,447.0012,567.3012,687.61
Year 2 PV (M)17,932.3618,280.6918,632.37
Year 3 PV (M)23,091.0223,767.0724,456.19
Year 4 PV (M)27,937.2629,033.1330,160.93
Year 5 PV (M)32,484.7934,085.3435,748.37
PV of Terminal Value (M)973,422.731,021,384.051,071,217.48
Equity Value (M)1,087,315.161,139,117.591,192,902.95
Shares Outstanding (M)15.0715.0715.07
Fair Value$72,167.37$75,605.61$79,175.45
Upside / Downside283.46%301.73%320.70%

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