Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Kukje Pharma Co., Ltd. (002720.KS)

Company Dividend Discount ModelIndustry: Drug Manufacturers - Specialty & GenericSector: Healthcare

Valuation Snapshot

Stable Growth$5,877.94 - $11,890.65$8,203.65
Multi-Stage$12,465.39 - $13,728.93$13,084.86
Blended Fair Value$10,644.26
Current Price$4,370.00
Upside143.58%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.000.0025.318.117.760.007.26
YoY Growth--0.00%0.00%0.00%0.00%-100.00%211.95%4.61%0.00%-100.00%3.00%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%0.50%0.17%0.15%0.00%0.22%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)7,136.92
(-) Cash Dividends Paid (M)610.88
(=) Cash Retained (M)6,526.04
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,427.38892.11535.27
Cash Retained (M)6,526.046,526.046,526.04
(-) Cash Required (M)-1,427.38-892.11-535.27
(=) Excess Retained (M)5,098.665,633.935,990.77
(/) Shares Outstanding (M)20.3520.3520.35
(=) Excess Retained per Share250.51276.81294.34
LTM Dividend per Share30.0130.0130.01
(+) Excess Retained per Share250.51276.81294.34
(=) Adjusted Dividend280.53306.82324.36
WACC / Discount Rate5.28%5.28%5.28%
Growth Rate0.48%1.48%2.48%
Fair Value$5,877.94$8,203.65$11,890.65
Upside / Downside34.51%87.73%172.10%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)7,136.927,242.797,350.237,459.267,569.927,682.217,912.68
Payout Ratio8.56%24.85%41.14%57.42%73.71%90.00%92.50%
Projected Dividends (M)610.881,799.653,023.564,283.395,579.936,913.997,319.23

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.28%5.28%5.28%
Growth Rate0.48%1.48%2.48%
Year 1 PV (M)1,692.571,709.411,726.26
Year 2 PV (M)2,674.452,727.942,781.97
Year 3 PV (M)3,563.363,670.813,780.40
Year 4 PV (M)4,365.754,542.154,723.84
Year 5 PV (M)5,087.645,345.895,614.52
PV of Terminal Value (M)236,324.37248,320.14260,798.16
Equity Value (M)253,708.14266,316.35279,425.15
Shares Outstanding (M)20.3520.3520.35
Fair Value$12,465.39$13,084.86$13,728.93
Upside / Downside185.25%199.42%214.16%

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