Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wooshin Systems Co., Ltd. (017370.KS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$316,495.54 - $372,885.37$349,448.20
Multi-Stage$224,020.40 - $245,918.19$234,764.59
Blended Fair Value$292,106.40
Current Price$7,970.00
Upside3,565.07%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS36.10%11.55%50.2130.600.000.000.0010.7521.5132.6128.7717.66
YoY Growth--64.06%0.00%0.00%0.00%-100.00%-50.00%-34.05%13.33%62.92%4.90%
Dividend Yield--0.88%0.36%0.00%0.00%0.00%0.29%0.37%0.42%0.50%0.43%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)29,030.69
(-) Cash Dividends Paid (M)771.02
(=) Cash Retained (M)28,259.67
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5,806.143,628.842,177.30
Cash Retained (M)28,259.6728,259.6728,259.67
(-) Cash Required (M)-5,806.14-3,628.84-2,177.30
(=) Excess Retained (M)22,453.5324,630.8326,082.36
(/) Shares Outstanding (M)15.4815.4815.48
(=) Excess Retained per Share1,450.181,590.801,684.55
LTM Dividend per Share49.8049.8049.80
(+) Excess Retained per Share1,450.181,590.801,684.55
(=) Adjusted Dividend1,499.981,640.601,734.35
WACC / Discount Rate1.38%1.38%1.38%
Growth Rate5.50%6.50%7.50%
Fair Value$316,495.54$349,448.20$372,885.37
Upside / Downside3,871.09%4,284.54%4,578.61%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)29,030.6930,917.6832,927.3335,067.6137,347.0039,774.5540,967.79
Payout Ratio2.66%20.12%37.59%55.06%72.53%90.00%92.50%
Projected Dividends (M)771.026,222.0912,378.5419,309.0527,088.2235,797.1037,895.21

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.38%1.38%1.38%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)6,079.976,137.606,195.23
Year 2 PV (M)11,819.5212,044.6512,271.90
Year 3 PV (M)18,015.9218,533.0919,060.07
Year 4 PV (M)24,696.8325,646.6026,623.50
Year 5 PV (M)31,891.4133,431.7835,031.10
PV of Terminal Value (M)3,376,060.183,539,125.153,708,431.00
Equity Value (M)3,468,563.833,634,918.873,807,612.80
Shares Outstanding (M)15.4815.4815.48
Fair Value$224,020.40$234,764.59$245,918.19
Upside / Downside2,710.80%2,845.60%2,985.55%

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