Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sebang Global Battery Co., Ltd. (004490.KS)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$733,756.25 - $2,000,331.55$1,874,603.61
Multi-Stage$276,431.67 - $302,803.92$289,374.67
Blended Fair Value$1,081,989.14
Current Price$63,800.00
Upside1,595.91%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.75%8.53%721.30628.07633.88532.22523.87520.32416.24364.19364.19315.65
YoY Growth--14.84%-0.92%19.10%1.59%0.68%25.00%14.29%0.00%15.38%-0.76%
Dividend Yield--1.11%0.80%1.14%0.78%0.67%2.00%0.89%1.12%0.99%0.74%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)132,831.57
(-) Cash Dividends Paid (M)14,814.90
(=) Cash Retained (M)118,016.67
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26,566.3116,603.959,962.37
Cash Retained (M)118,016.67118,016.67118,016.67
(-) Cash Required (M)-26,566.31-16,603.95-9,962.37
(=) Excess Retained (M)91,450.36101,412.73108,054.31
(/) Shares Outstanding (M)13.2113.2113.21
(=) Excess Retained per Share6,924.787,679.158,182.06
LTM Dividend per Share1,121.811,121.811,121.81
(+) Excess Retained per Share6,924.787,679.158,182.06
(=) Adjusted Dividend8,046.598,800.969,303.87
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate5.50%6.50%7.50%
Fair Value$733,756.25$1,874,603.61$2,000,331.55
Upside / Downside1,050.09%2,838.25%3,035.32%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)132,831.57141,465.62150,660.89160,453.85170,883.35181,990.76187,450.49
Payout Ratio11.15%26.92%42.69%58.46%74.23%90.00%92.50%
Projected Dividends (M)14,814.9038,086.1064,319.9793,803.34126,847.78163,791.69173,391.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)35,373.6835,708.9836,044.27
Year 2 PV (M)55,484.7156,541.5357,608.33
Year 3 PV (M)75,155.2777,312.7179,511.04
Year 4 PV (M)94,392.5598,022.63101,756.40
Year 5 PV (M)113,203.65118,671.43124,348.47
PV of Terminal Value (M)3,277,015.833,435,296.923,599,635.80
Equity Value (M)3,650,625.693,821,554.193,998,904.32
Shares Outstanding (M)13.2113.2113.21
Fair Value$276,431.67$289,374.67$302,803.92
Upside / Downside333.28%353.57%374.61%

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