Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Doosan Bobcat Inc. (241560.KS)

Company Dividend Discount ModelIndustry: Agricultural - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$281,239.45 - $916,444.35$858,842.57
Multi-Stage$121,346.60 - $132,756.16$126,946.87
Blended Fair Value$492,894.72
Current Price$55,500.00
Upside788.10%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.27%0.00%1,790.601,611.011,944.750.00575.761,149.441,260.48696.570.00176.39
YoY Growth--11.15%-17.16%0.00%-100.00%-49.91%-8.81%80.95%0.00%-100.00%0.00%
Dividend Yield--3.58%2.99%4.45%0.00%1.37%6.40%4.05%2.22%0.00%0.49%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)445,641.95
(-) Cash Dividends Paid (M)175,720.87
(=) Cash Retained (M)269,921.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)89,128.3955,705.2433,423.15
Cash Retained (M)269,921.08269,921.08269,921.08
(-) Cash Required (M)-89,128.39-55,705.24-33,423.15
(=) Excess Retained (M)180,792.69214,215.84236,497.93
(/) Shares Outstanding (M)96.7196.7196.71
(=) Excess Retained per Share1,869.482,215.092,445.50
LTM Dividend per Share1,817.031,817.031,817.03
(+) Excess Retained per Share1,869.482,215.092,445.50
(=) Adjusted Dividend3,686.514,032.124,262.53
WACC / Discount Rate6.88%6.88%6.88%
Growth Rate5.50%6.50%7.50%
Fair Value$281,239.45$858,842.57$916,444.35
Upside / Downside406.74%1,447.46%1,551.25%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)445,641.95474,608.67505,458.24538,313.02573,303.37610,568.09628,885.13
Payout Ratio39.43%49.54%59.66%69.77%79.89%90.00%92.50%
Projected Dividends (M)175,720.87235,143.74301,549.17375,593.82457,990.22549,511.28581,718.75

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.88%6.88%6.88%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)217,935.52220,001.26222,067.00
Year 2 PV (M)259,028.38263,962.14268,942.45
Year 3 PV (M)299,021.39307,605.21316,351.77
Year 4 PV (M)337,936.13350,932.20364,299.56
Year 5 PV (M)375,793.83393,944.81412,790.47
PV of Terminal Value (M)10,245,411.5510,740,268.7611,254,065.32
Equity Value (M)11,735,126.8012,276,714.3912,838,516.57
Shares Outstanding (M)96.7196.7196.71
Fair Value$121,346.60$126,946.87$132,756.16
Upside / Downside118.64%128.73%139.20%

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