Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Pyung Hwa Holdings Co., Ltd. (010770.KS)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$23,676.14 - $49,355.30$33,406.55
Multi-Stage$31,237.30 - $34,313.28$32,746.02
Blended Fair Value$33,076.29
Current Price$3,750.00
Upside782.03%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.77%1.08%149.97145.71144.47144.43144.40144.35144.31196.11148.01112.50
YoY Growth--2.93%0.86%0.03%0.02%0.03%0.03%-26.41%32.49%31.57%-16.46%
Dividend Yield--2.87%4.76%4.22%3.49%3.98%6.01%2.52%2.61%4.25%3.27%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)19,210.53
(-) Cash Dividends Paid (M)2,158.34
(=) Cash Retained (M)17,052.19
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3,842.112,401.321,440.79
Cash Retained (M)17,052.1917,052.1917,052.19
(-) Cash Required (M)-3,842.11-2,401.32-1,440.79
(=) Excess Retained (M)13,210.0814,650.8715,611.40
(/) Shares Outstanding (M)14.3914.3914.39
(=) Excess Retained per Share917.971,018.091,084.84
LTM Dividend per Share149.98149.98149.98
(+) Excess Retained per Share917.971,018.091,084.84
(=) Adjusted Dividend1,067.961,168.081,234.82
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate2.05%3.05%4.05%
Fair Value$23,676.14$33,406.55$49,355.30
Upside / Downside531.36%790.84%1,216.14%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)19,210.5319,797.2220,401.8321,024.9021,667.0022,328.7022,998.57
Payout Ratio11.24%26.99%42.74%58.49%74.25%90.00%92.50%
Projected Dividends (M)2,158.345,342.918,719.9712,298.3216,087.1020,095.8321,273.67

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate2.05%3.05%4.05%
Year 1 PV (M)4,960.805,009.415,058.02
Year 2 PV (M)7,517.347,665.387,814.87
Year 3 PV (M)9,843.9510,136.1710,434.11
Year 4 PV (M)11,955.7212,431.2612,920.84
Year 5 PV (M)13,866.8714,559.7015,279.96
PV of Terminal Value (M)401,375.67421,429.71442,277.44
Equity Value (M)449,520.35471,231.63493,785.24
Shares Outstanding (M)14.3914.3914.39
Fair Value$31,237.30$32,746.02$34,313.28
Upside / Downside732.99%773.23%815.02%

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