Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Woori Financial Group Inc. (316140.KS)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$236,796.06 - $856,447.13$750,208.11
Multi-Stage$106,555.61 - $116,688.85$111,528.99
Blended Fair Value$430,868.55
Current Price$22,450.00
Upside1,819.24%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.95%0.00%1,173.931,307.65875.44492.33675.74584.91449.93449.93224.96674.89
YoY Growth---10.23%49.37%77.82%-27.14%15.53%30.00%0.00%100.00%-66.67%0.00%
Dividend Yield--7.11%9.29%7.67%3.21%6.69%7.65%3.18%2.94%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,222,065.00
(-) Cash Dividends Paid (M)356,011.00
(=) Cash Retained (M)2,866,054.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)644,413.00402,758.13241,654.88
Cash Retained (M)2,866,054.002,866,054.002,866,054.00
(-) Cash Required (M)-644,413.00-402,758.13-241,654.88
(=) Excess Retained (M)2,221,641.002,463,295.882,624,399.13
(/) Shares Outstanding (M)748.19748.19748.19
(=) Excess Retained per Share2,969.343,292.323,507.65
LTM Dividend per Share475.83475.83475.83
(+) Excess Retained per Share2,969.343,292.323,507.65
(=) Adjusted Dividend3,445.173,768.153,983.48
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate5.50%6.50%7.50%
Fair Value$236,796.06$750,208.11$856,447.13
Upside / Downside954.77%3,241.68%3,714.91%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,222,065.003,431,499.233,654,546.673,892,092.214,145,078.204,414,508.294,546,943.53
Payout Ratio11.05%26.84%42.63%58.42%74.21%90.00%92.50%
Projected Dividends (M)356,011.00920,991.231,557,914.752,273,747.133,076,055.543,973,057.464,205,922.77

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)852,379.16860,458.58868,538.00
Year 2 PV (M)1,334,437.821,359,855.111,385,512.19
Year 3 PV (M)1,802,495.311,854,238.471,906,962.52
Year 4 PV (M)2,256,854.062,343,646.302,432,918.13
Year 5 PV (M)2,697,810.712,828,115.982,963,408.34
PV of Terminal Value (M)70,780,236.4774,198,948.3677,748,502.40
Equity Value (M)79,724,213.5383,445,262.8087,305,841.57
Shares Outstanding (M)748.19748.19748.19
Fair Value$106,555.61$111,528.99$116,688.85
Upside / Downside374.64%396.79%419.77%

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