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Kolon Industries, Inc. (120110.KS)

Company Dividend Discount ModelIndustry: ChemicalsSector: Basic Materials

Valuation Snapshot

Stable Growth$44,817.16 - $82,293.64$60,291.66
Multi-Stage$80,194.11 - $87,916.70$83,982.05
Blended Fair Value$72,136.85
Current Price$34,000.00
Upside112.17%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.87%9.27%1,335.501,343.641,329.39967.68893.90914.251,061.631,043.31477.67470.20
YoY Growth---0.61%1.07%37.38%8.25%-2.23%-13.88%1.76%118.42%1.59%-14.57%
Dividend Yield--4.57%3.53%2.99%1.53%1.49%3.05%2.09%1.55%0.67%0.65%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)96,637.28
(-) Cash Dividends Paid (M)95,211.20
(=) Cash Retained (M)1,426.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)19,327.4612,079.667,247.80
Cash Retained (M)1,426.081,426.081,426.08
(-) Cash Required (M)-19,327.46-12,079.66-7,247.80
(=) Excess Retained (M)-17,901.37-10,653.58-5,821.71
(/) Shares Outstanding (M)31.0931.0931.09
(=) Excess Retained per Share-575.78-342.66-187.25
LTM Dividend per Share3,062.363,062.363,062.36
(+) Excess Retained per Share-575.78-342.66-187.25
(=) Adjusted Dividend2,486.592,719.702,875.12
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate0.75%1.75%2.75%
Fair Value$44,817.16$60,291.66$82,293.64
Upside / Downside31.82%77.33%142.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)96,637.2898,323.87100,039.89101,785.86103,562.31105,369.75108,530.85
Payout Ratio98.52%96.82%95.11%93.41%91.70%90.00%92.50%
Projected Dividends (M)95,211.2095,196.6195,152.5295,077.8994,971.6794,832.78100,391.03

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate0.75%1.75%2.75%
Year 1 PV (M)88,645.3789,525.2690,405.16
Year 2 PV (M)82,506.7384,152.7985,815.10
Year 3 PV (M)76,768.5279,077.3081,431.92
Year 4 PV (M)71,405.6074,283.1877,246.88
Year 5 PV (M)66,394.3669,755.5973,251.59
PV of Terminal Value (M)2,107,574.442,214,270.832,325,245.35
Equity Value (M)2,493,295.022,611,064.962,733,396.00
Shares Outstanding (M)31.0931.0931.09
Fair Value$80,194.11$83,982.05$87,916.70
Upside / Downside135.87%147.01%158.58%

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