Definitive Analysis
Definitive Analysis

Financial Statements

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Ticker

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Sector

LG Uplus Corp. (032640.KS)

Company Dividend Discount ModelIndustry: Telecommunications ServicesSector: Communication Services

Valuation Snapshot

Stable Growth$20,481.22 - $44,923.34$29,425.57
Multi-Stage$26,596.27 - $29,150.41$27,849.33
Blended Fair Value$28,637.45
Current Price$14,300.00
Upside100.26%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS10.22%15.80%660.86660.84600.02659.83406.33406.33406.33355.54253.96152.37
YoY Growth--0.00%10.14%-9.06%62.39%0.00%0.00%14.29%40.00%66.67%0.00%
Dividend Yield--6.42%6.62%5.54%4.71%3.32%3.76%2.60%2.90%1.78%1.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)464,925.00
(-) Cash Dividends Paid (M)279,393.00
(=) Cash Retained (M)185,532.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)92,985.0058,115.6334,869.38
Cash Retained (M)185,532.00185,532.00185,532.00
(-) Cash Required (M)-92,985.00-58,115.63-34,869.38
(=) Excess Retained (M)92,547.00127,416.38150,662.63
(/) Shares Outstanding (M)429.81429.81429.81
(=) Excess Retained per Share215.32296.45350.53
LTM Dividend per Share650.04650.04650.04
(+) Excess Retained per Share215.32296.45350.53
(=) Adjusted Dividend865.36946.481,000.57
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate2.34%3.34%4.34%
Fair Value$20,481.22$29,425.57$44,923.34
Upside / Downside43.23%105.77%214.15%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)464,925.00480,442.36496,477.62513,048.08530,171.60547,866.63564,302.63
Payout Ratio60.09%66.08%72.06%78.04%84.02%90.00%92.50%
Projected Dividends (M)279,393.00317,454.05357,744.52400,370.84445,444.04493,079.97521,979.93

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate2.34%3.34%4.34%
Year 1 PV (M)294,747.45297,627.60300,507.75
Year 2 PV (M)308,397.87314,454.38320,569.79
Year 3 PV (M)320,457.17329,943.38339,614.98
Year 4 PV (M)331,031.93344,161.64357,678.10
Year 5 PV (M)340,222.70357,173.31374,792.90
PV of Terminal Value (M)9,836,512.0110,326,587.7810,836,005.07
Equity Value (M)11,431,369.1311,969,948.1012,529,168.59
Shares Outstanding (M)429.81429.81429.81
Fair Value$26,596.27$27,849.33$29,150.41
Upside / Downside85.99%94.75%103.85%

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