Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Myoung Shin Industrial Co.,Ltd (009900.KS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$133,964.64 - $327,464.56$306,882.25
Multi-Stage$46,814.57 - $51,289.18$49,010.58
Blended Fair Value$177,946.42
Current Price$8,200.00
Upside2,070.08%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%31.86%99.890.000.000.000.000.006.2912.586.2912.58
YoY Growth--0.00%0.00%0.00%0.00%0.00%-100.00%-50.00%100.00%-50.00%100.00%
Dividend Yield--1.19%0.00%0.00%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)86,489.75
(-) Cash Dividends Paid (M)7,870.52
(=) Cash Retained (M)78,619.23
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)17,297.9510,811.226,486.73
Cash Retained (M)78,619.2378,619.2378,619.23
(-) Cash Required (M)-17,297.95-10,811.22-6,486.73
(=) Excess Retained (M)61,321.2867,808.0172,132.50
(/) Shares Outstanding (M)52.5352.5352.53
(=) Excess Retained per Share1,167.431,290.921,373.25
LTM Dividend per Share149.84149.84149.84
(+) Excess Retained per Share1,167.431,290.921,373.25
(=) Adjusted Dividend1,317.271,440.761,523.09
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate5.50%6.50%7.50%
Fair Value$133,964.64$306,882.25$327,464.56
Upside / Downside1,533.72%3,642.47%3,893.47%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)86,489.7592,111.5898,098.84104,475.26111,266.15118,498.45122,053.41
Payout Ratio9.10%25.28%41.46%57.64%73.82%90.00%92.50%
Projected Dividends (M)7,870.5223,285.7740,671.7560,219.5282,136.66106,648.61112,899.40

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)21,651.6721,856.9022,062.13
Year 2 PV (M)35,163.7035,833.4736,509.55
Year 3 PV (M)48,410.5349,800.2251,216.26
Year 4 PV (M)61,396.0663,757.1766,185.75
Year 5 PV (M)74,124.1177,704.3381,421.57
PV of Terminal Value (M)2,218,271.152,325,414.472,436,658.43
Equity Value (M)2,459,017.212,574,366.562,694,053.69
Shares Outstanding (M)52.5352.5352.53
Fair Value$46,814.57$49,010.58$51,289.18
Upside / Downside470.91%497.69%525.48%

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