Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Dongwoon Anatech Co., Ltd. (094170.KQ)

Company Dividend Discount ModelIndustry: Sector:

Valuation Snapshot

Stable Growth$8,594.95 - $23,290.68$13,228.28
Multi-Stage$5,834.96 - $6,376.16$6,100.64
Blended Fair Value$9,664.46
Current Price$17,500.00
Upside-44.77%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS40.22%0.00%82.960.0020.3617.7142.2315.310.000.000.000.00
YoY Growth--0.00%-100.00%14.94%-58.05%175.90%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.40%0.00%0.25%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)5,758.05
(-) Cash Dividends Paid (M)1,289.91
(=) Cash Retained (M)4,468.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,151.61719.76431.85
Cash Retained (M)4,468.144,468.144,468.14
(-) Cash Required (M)-1,151.61-719.76-431.85
(=) Excess Retained (M)3,316.533,748.384,036.29
(/) Shares Outstanding (M)15.9815.9815.98
(=) Excess Retained per Share207.55234.57252.59
LTM Dividend per Share80.7280.7280.72
(+) Excess Retained per Share207.55234.57252.59
(=) Adjusted Dividend288.27315.30333.31
WACC / Discount Rate9.04%9.04%9.04%
Growth Rate5.50%6.50%7.50%
Fair Value$8,594.95$13,228.28$23,290.68
Upside / Downside-50.89%-24.41%33.09%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)5,758.056,132.326,530.936,955.447,407.547,889.038,125.70
Payout Ratio22.40%35.92%49.44%62.96%76.48%90.00%92.50%
Projected Dividends (M)1,289.912,202.823,228.964,379.195,665.317,100.137,516.27

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.04%9.04%9.04%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)2,001.262,020.222,039.19
Year 2 PV (M)2,665.072,715.842,767.08
Year 3 PV (M)3,283.703,377.973,474.02
Year 4 PV (M)3,859.374,007.794,160.45
Year 5 PV (M)4,394.224,606.474,826.83
PV of Terminal Value (M)77,036.0280,756.8984,620.17
Equity Value (M)93,239.6597,485.18101,887.74
Shares Outstanding (M)15.9815.9815.98
Fair Value$5,834.96$6,100.64$6,376.16
Upside / Downside-66.66%-65.14%-63.56%

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