Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

RSUPPORT Co., Ltd. (131370.KQ)

Company Dividend Discount ModelIndustry: Software - ApplicationSector: Technology

Valuation Snapshot

Stable Growth$762.31 - $1,424.57$1,032.50
Multi-Stage$761.54 - $833.69$796.95
Blended Fair Value$914.72
Current Price$2,885.00
Upside-68.29%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.01%5.42%10.0420.0840.2130.1620.0510.040.000.000.000.00
YoY Growth---50.00%-50.05%33.33%50.37%99.79%0.00%0.00%0.00%0.00%-100.00%
Dividend Yield--0.35%0.51%0.93%0.48%0.25%0.17%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,588.35
(-) Cash Dividends Paid (M)520.88
(=) Cash Retained (M)2,067.47
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)517.67323.54194.13
Cash Retained (M)2,067.472,067.472,067.47
(-) Cash Required (M)-517.67-323.54-194.13
(=) Excess Retained (M)1,549.801,743.931,873.35
(/) Shares Outstanding (M)51.8751.8751.87
(=) Excess Retained per Share29.8833.6236.12
LTM Dividend per Share10.0410.0410.04
(+) Excess Retained per Share29.8833.6236.12
(=) Adjusted Dividend39.9243.6646.16
WACC / Discount Rate8.83%8.83%8.83%
Growth Rate3.42%4.42%5.42%
Fair Value$762.31$1,032.50$1,424.57
Upside / Downside-73.58%-64.21%-50.62%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,588.352,702.702,822.102,946.773,076.963,212.893,309.28
Payout Ratio20.12%34.10%48.07%62.05%76.02%90.00%92.50%
Projected Dividends (M)520.88921.601,356.711,828.462,339.252,891.603,061.08

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.83%8.83%8.83%
Growth Rate3.42%4.42%5.42%
Year 1 PV (M)838.69846.80854.91
Year 2 PV (M)1,123.581,145.411,167.46
Year 3 PV (M)1,378.041,418.401,459.54
Year 4 PV (M)1,604.391,667.351,732.15
Year 5 PV (M)1,804.811,893.771,986.21
PV of Terminal Value (M)32,752.7734,367.2136,044.69
Equity Value (M)39,502.2841,338.9543,244.96
Shares Outstanding (M)51.8751.8751.87
Fair Value$761.54$796.95$833.69
Upside / Downside-73.60%-72.38%-71.10%

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