Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Iljin Electric Co.,Ltd (103590.KS)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$130,398.59 - $355,538.03$333,191.20
Multi-Stage$49,905.30 - $54,622.10$52,220.38
Blended Fair Value$192,705.79
Current Price$35,300.00
Upside445.91%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%12.13%169.74100.3077.1546.290.000.0046.2946.2961.7261.72
YoY Growth--69.23%30.00%66.67%0.00%0.00%-100.00%0.00%-25.01%0.01%14.29%
Dividend Yield--0.68%0.51%1.33%0.87%0.00%0.00%1.49%1.00%1.37%1.28%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)85,901.65
(-) Cash Dividends Paid (M)28,606.36
(=) Cash Retained (M)57,295.29
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)17,180.3310,737.716,442.62
Cash Retained (M)57,295.2957,295.2957,295.29
(-) Cash Required (M)-17,180.33-10,737.71-6,442.62
(=) Excess Retained (M)40,114.9646,557.5850,852.67
(/) Shares Outstanding (M)48.0548.0548.05
(=) Excess Retained per Share834.85968.941,058.32
LTM Dividend per Share595.34595.34595.34
(+) Excess Retained per Share834.85968.941,058.32
(=) Adjusted Dividend1,430.201,564.281,653.67
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate5.50%6.50%7.50%
Fair Value$130,398.59$333,191.20$355,538.03
Upside / Downside269.40%843.88%907.19%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)85,901.6591,485.2697,431.80103,764.87110,509.58117,692.71121,223.49
Payout Ratio33.30%44.64%55.98%67.32%78.66%90.00%92.50%
Projected Dividends (M)28,606.3640,839.9754,543.0869,855.0586,927.13105,923.44112,131.73

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)37,931.3638,290.9038,650.44
Year 2 PV (M)47,050.6647,946.8448,851.48
Year 3 PV (M)55,967.6357,574.2559,211.34
Year 4 PV (M)64,685.5867,173.2069,731.89
Year 5 PV (M)73,207.7876,743.7480,415.03
PV of Terminal Value (M)2,119,119.302,221,473.552,327,745.15
Equity Value (M)2,397,962.302,509,202.492,624,605.33
Shares Outstanding (M)48.0548.0548.05
Fair Value$49,905.30$52,220.38$54,622.10
Upside / Downside41.37%47.93%54.74%

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