Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hanwha General Insurance Co., Ltd. (000370.KS)

Company Dividend Discount ModelIndustry: Insurance - Property & CasualtySector: Financial Services

Valuation Snapshot

Stable Growth$14,272.07 - $21,652.08$17,741.30
Multi-Stage$28,518.71 - $31,437.86$29,949.44
Blended Fair Value$23,845.37
Current Price$5,610.00
Upside325.05%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-1.08%0.00%91.19141.81106.9978.1572.5396.27111.0865.5540.290.00
YoY Growth---35.70%32.54%36.90%7.76%-24.66%-13.33%69.45%62.69%0.00%0.00%
Dividend Yield--2.30%3.22%2.52%1.55%1.49%5.68%2.12%0.76%0.58%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)258,192.15
(-) Cash Dividends Paid (M)12,147.37
(=) Cash Retained (M)246,044.79
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)51,638.4332,274.0219,364.41
Cash Retained (M)246,044.79246,044.79246,044.79
(-) Cash Required (M)-51,638.43-32,274.02-19,364.41
(=) Excess Retained (M)194,406.36213,770.77226,680.37
(/) Shares Outstanding (M)157.64157.64157.64
(=) Excess Retained per Share1,233.201,356.031,437.92
LTM Dividend per Share77.0677.0677.06
(+) Excess Retained per Share1,233.201,356.031,437.92
(=) Adjusted Dividend1,310.251,433.091,514.98
WACC / Discount Rate7.00%7.00%7.00%
Growth Rate-2.00%-1.00%0.00%
Fair Value$14,272.07$17,741.30$21,652.08
Upside / Downside154.40%216.24%285.96%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)258,192.15255,610.23253,054.13250,523.58248,018.35245,538.17252,904.31
Payout Ratio4.70%21.76%38.82%55.88%72.94%90.00%92.50%
Projected Dividends (M)12,147.3755,630.5598,242.86139,997.37180,906.95220,984.35233,936.49

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.00%7.00%7.00%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)51,467.4951,992.6752,517.85
Year 2 PV (M)84,089.2085,814.0687,556.44
Year 3 PV (M)110,860.97114,289.42117,787.84
Year 4 PV (M)132,535.94138,028.94143,690.93
Year 5 PV (M)149,781.97157,581.46165,702.53
PV of Terminal Value (M)3,967,075.344,173,650.164,388,742.19
Equity Value (M)4,495,810.914,721,356.714,955,997.78
Shares Outstanding (M)157.64157.64157.64
Fair Value$28,518.71$29,949.44$31,437.86
Upside / Downside408.35%433.86%460.39%

High-Yield Dividend Screener

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