Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Kyung Dong Navien Co., Ltd. (009450.KS)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$1,419,053.39 - $1,671,885.32$1,566,801.39
Multi-Stage$980,228.79 - $1,075,982.98$1,027,211.02
Blended Fair Value$1,297,006.20
Current Price$72,400.00
Upside1,691.45%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS20.29%20.20%550.03500.02450.02326.67262.05218.37174.70131.0287.3587.35
YoY Growth--10.00%11.11%37.76%24.66%20.00%25.00%33.33%50.00%0.00%0.00%
Dividend Yield--0.77%0.94%1.33%0.71%0.51%0.71%0.31%0.19%0.27%0.25%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)121,495.94
(-) Cash Dividends Paid (M)9,394.41
(=) Cash Retained (M)112,101.53
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)24,299.1915,186.999,112.20
Cash Retained (M)112,101.53112,101.53112,101.53
(-) Cash Required (M)-24,299.19-15,186.99-9,112.20
(=) Excess Retained (M)87,802.3496,914.54102,989.34
(/) Shares Outstanding (M)14.4514.4514.45
(=) Excess Retained per Share6,075.346,705.847,126.18
LTM Dividend per Share650.03650.03650.03
(+) Excess Retained per Share6,075.346,705.847,126.18
(=) Adjusted Dividend6,725.377,355.887,776.21
WACC / Discount Rate1.89%1.89%1.89%
Growth Rate5.50%6.50%7.50%
Fair Value$1,419,053.39$1,566,801.39$1,671,885.32
Upside / Downside1,860.02%2,064.09%2,209.23%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)121,495.94129,393.17137,803.73146,760.97156,300.44166,459.96171,453.76
Payout Ratio7.73%24.19%40.64%57.09%73.55%90.00%92.50%
Projected Dividends (M)9,394.4131,294.8156,002.5683,790.11114,953.43149,813.97158,594.73

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.89%1.89%1.89%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)30,424.4430,712.8231,001.20
Year 2 PV (M)52,930.8053,938.9954,956.68
Year 3 PV (M)76,991.6579,201.8081,453.85
Year 4 PV (M)102,688.79106,637.92110,699.86
Year 5 PV (M)130,107.91136,392.17142,916.94
PV of Terminal Value (M)13,773,367.8914,438,626.7115,129,346.55
Equity Value (M)14,166,511.4814,845,510.4015,550,375.09
Shares Outstanding (M)14.4514.4514.45
Fair Value$980,228.79$1,027,211.02$1,075,982.98
Upside / Downside1,253.91%1,318.80%1,386.16%

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