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CJ Corporation (001040.KS)

Company Dividend Discount ModelIndustry: ConglomeratesSector: Industrials

Valuation Snapshot

Stable Growth$1,152,861.13 - $2,289,495.21$2,145,592.31
Multi-Stage$356,586.52 - $390,207.22$373,088.30
Blended Fair Value$1,259,340.30
Current Price$183,500.00
Upside586.29%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS45.18%14.12%7,880.549,415.782,303.212,003.231,853.241,221.751,234.193,560.603,412.312,305.61
YoY Growth---16.30%308.81%14.97%8.09%51.69%-1.01%-65.34%4.35%48.00%9.56%
Dividend Yield--6.78%7.33%2.21%2.37%1.97%1.89%0.98%2.24%1.96%1.18%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)386,042.57
(-) Cash Dividends Paid (M)188,697.01
(=) Cash Retained (M)197,345.56
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)77,208.5148,255.3228,953.19
Cash Retained (M)197,345.56197,345.56197,345.56
(-) Cash Required (M)-77,208.51-48,255.32-28,953.19
(=) Excess Retained (M)120,137.04149,090.24168,392.36
(/) Shares Outstanding (M)33.5333.5333.53
(=) Excess Retained per Share3,582.624,446.045,021.65
LTM Dividend per Share5,627.165,627.165,627.16
(+) Excess Retained per Share3,582.624,446.045,021.65
(=) Adjusted Dividend9,209.7910,073.2010,648.81
WACC / Discount Rate6.34%6.34%6.34%
Growth Rate5.50%6.50%7.50%
Fair Value$1,152,861.13$2,145,592.31$2,289,495.21
Upside / Downside528.26%1,069.26%1,147.68%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)386,042.57411,135.33437,859.13466,319.97496,630.77528,911.77544,779.12
Payout Ratio48.88%57.10%65.33%73.55%81.78%90.00%92.50%
Projected Dividends (M)188,697.01234,774.21286,044.21342,987.38406,124.63476,020.59503,920.69

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.34%6.34%6.34%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)218,698.17220,771.14222,844.11
Year 2 PV (M)248,211.94252,939.68257,712.02
Year 3 PV (M)277,244.16285,202.85293,312.40
Year 4 PV (M)305,800.61317,560.84329,657.05
Year 5 PV (M)333,887.01350,013.88366,757.96
PV of Terminal Value (M)10,573,662.9711,084,374.8511,614,632.87
Equity Value (M)11,957,504.8712,510,863.2313,084,916.41
Shares Outstanding (M)33.5333.5333.53
Fair Value$356,586.52$373,088.30$390,207.22
Upside / Downside94.33%103.32%112.65%

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