Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sejin Heavy Industries Co., Ltd. (075580.KS)

Company Dividend Discount ModelIndustry: Marine ShippingSector: Industrials

Valuation Snapshot

Stable Growth$58,065.72 - $137,815.74$129,153.53
Multi-Stage$20,150.94 - $22,062.07$21,088.92
Blended Fair Value$75,121.23
Current Price$21,600.00
Upside247.78%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS66.88%84.52%193.16144.87144.66146.5116.7114.9320.2567.4272.033.97
YoY Growth--33.33%0.14%-1.26%776.97%11.93%-26.30%-69.96%-6.40%1,716.47%839.14%
Dividend Yield--2.94%2.25%2.49%2.14%0.26%0.85%0.61%2.19%3.19%0.18%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)39,390.53
(-) Cash Dividends Paid (M)11,369.89
(=) Cash Retained (M)28,020.64
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7,878.114,923.822,954.29
Cash Retained (M)28,020.6428,020.6428,020.64
(-) Cash Required (M)-7,878.11-4,923.82-2,954.29
(=) Excess Retained (M)20,142.5323,096.8225,066.35
(/) Shares Outstanding (M)56.8456.8456.84
(=) Excess Retained per Share354.36406.33440.98
LTM Dividend per Share200.02200.02200.02
(+) Excess Retained per Share354.36406.33440.98
(=) Adjusted Dividend554.38606.35641.00
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate5.50%6.50%7.50%
Fair Value$58,065.72$129,153.53$137,815.74
Upside / Downside168.82%497.93%538.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)39,390.5341,950.9144,677.7247,581.7750,674.5953,968.4455,587.49
Payout Ratio28.86%41.09%53.32%65.55%77.77%90.00%92.50%
Projected Dividends (M)11,369.8917,238.3123,821.5931,187.8639,411.1048,571.5951,418.43

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)16,033.1316,185.1016,337.08
Year 2 PV (M)20,607.1520,999.6621,395.87
Year 3 PV (M)25,093.2325,813.5626,547.55
Year 4 PV (M)29,492.6030,626.8131,793.41
Year 5 PV (M)33,806.5335,439.4037,134.76
PV of Terminal Value (M)1,020,396.921,069,682.471,120,854.30
Equity Value (M)1,145,429.561,198,747.001,254,062.97
Shares Outstanding (M)56.8456.8456.84
Fair Value$20,150.94$21,088.92$22,062.07
Upside / Downside-6.71%-2.37%2.14%

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