Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Value Added Technology Co., Ltd. (043150.KQ)

Company Dividend Discount ModelIndustry: Medical - DevicesSector: Healthcare

Valuation Snapshot

Stable Growth$67,694.47 - $154,473.82$98,586.02
Multi-Stage$49,034.96 - $53,644.21$51,297.46
Blended Fair Value$74,941.74
Current Price$22,150.00
Upside238.34%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.51%3.83%143.65100.01100.01100.01100.01100.01100.01100.01100.01100.01
YoY Growth--43.64%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%1.36%
Dividend Yield--0.71%0.32%0.31%0.25%0.33%0.46%0.40%0.25%0.36%0.23%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)49,389.18
(-) Cash Dividends Paid (M)1,485.43
(=) Cash Retained (M)47,903.75
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9,877.846,173.653,704.19
Cash Retained (M)47,903.7547,903.7547,903.75
(-) Cash Required (M)-9,877.84-6,173.65-3,704.19
(=) Excess Retained (M)38,025.9241,730.1044,199.56
(/) Shares Outstanding (M)14.8514.8514.85
(=) Excess Retained per Share2,560.062,809.452,975.70
LTM Dividend per Share100.01100.01100.01
(+) Excess Retained per Share2,560.062,809.452,975.70
(=) Adjusted Dividend2,660.072,909.453,075.71
WACC / Discount Rate9.37%9.37%9.37%
Growth Rate5.23%6.23%7.23%
Fair Value$67,694.47$98,586.02$154,473.82
Upside / Downside205.62%345.08%597.40%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49,389.1852,466.2355,734.9959,207.4062,896.1566,814.7268,819.16
Payout Ratio3.01%20.41%37.80%55.20%72.60%90.00%92.50%
Projected Dividends (M)1,485.4310,706.3021,070.3732,684.2845,663.5660,133.2563,657.72

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.37%9.37%9.37%
Growth Rate5.23%6.23%7.23%
Year 1 PV (M)9,697.339,789.499,881.64
Year 2 PV (M)17,286.1417,616.2417,949.47
Year 3 PV (M)24,287.2324,986.2325,698.52
Year 4 PV (M)30,734.1931,919.2133,138.18
Year 5 PV (M)36,658.9238,434.1840,277.57
PV of Terminal Value (M)609,676.93639,201.49669,858.94
Equity Value (M)728,340.75761,946.85796,804.31
Shares Outstanding (M)14.8514.8514.85
Fair Value$49,034.96$51,297.46$53,644.21
Upside / Downside121.38%131.59%142.19%

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