Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

GAON CABLE Co., Ltd. (000500.KS)

Company Dividend Discount ModelIndustry: Communication EquipmentSector: Technology

Valuation Snapshot

Stable Growth$123,963.92 - $658,935.98$245,892.96
Multi-Stage$79,088.56 - $86,597.27$82,773.65
Blended Fair Value$164,333.31
Current Price$55,400.00
Upside196.63%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.0010.49111.43159.18159.20159.07159.07159.07159.07159.07
YoY Growth---100.00%-90.59%-30.00%-0.01%0.08%0.00%0.00%0.00%0.00%-40.00%
Dividend Yield--0.00%0.04%0.73%0.73%0.68%1.45%1.16%0.87%0.89%1.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)49,368.56
(-) Cash Dividends Paid (M)12,113.22
(=) Cash Retained (M)37,255.34
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9,873.716,171.073,702.64
Cash Retained (M)37,255.3437,255.3437,255.34
(-) Cash Required (M)-9,873.71-6,171.07-3,702.64
(=) Excess Retained (M)27,381.6331,084.2733,552.70
(/) Shares Outstanding (M)14.8114.8114.81
(=) Excess Retained per Share1,848.522,098.482,265.12
LTM Dividend per Share817.76817.76817.76
(+) Excess Retained per Share1,848.522,098.482,265.12
(=) Adjusted Dividend2,666.272,916.243,082.88
WACC / Discount Rate7.13%7.13%7.13%
Growth Rate4.87%5.87%6.87%
Fair Value$123,963.92$245,892.96$658,935.98
Upside / Downside123.76%343.85%1,089.42%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49,368.5652,266.6155,334.7858,583.0662,022.0265,662.8567,632.74
Payout Ratio24.54%37.63%50.72%63.81%76.91%90.00%92.50%
Projected Dividends (M)12,113.2219,667.4228,066.7937,384.5047,699.4359,096.5762,560.28

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.13%7.13%7.13%
Growth Rate4.87%5.87%6.87%
Year 1 PV (M)18,185.7718,359.1818,532.59
Year 2 PV (M)23,997.2224,457.0624,921.26
Year 3 PV (M)29,555.8930,409.4831,279.34
Year 4 PV (M)34,869.8436,219.0037,606.94
Year 5 PV (M)39,946.9041,888.1643,904.16
PV of Terminal Value (M)1,024,963.421,074,772.501,126,499.44
Equity Value (M)1,171,519.041,226,105.381,282,743.75
Shares Outstanding (M)14.8114.8114.81
Fair Value$79,088.56$82,773.65$86,597.27
Upside / Downside42.76%49.41%56.31%

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