Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Suheung Co., Ltd. (008490.KS)

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

Valuation Snapshot

Stable Growth$30,878.29 - $46,398.72$38,223.58
Multi-Stage$71,421.63 - $78,768.53$75,021.94
Blended Fair Value$56,622.76
Current Price$19,840.00
Upside185.40%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-6.16%-0.78%254.68400.36499.94656.16451.35349.96308.26343.31260.09260.09
YoY Growth---36.39%-19.92%-23.81%45.38%28.97%13.53%-10.21%32.00%0.00%-5.60%
Dividend Yield--1.83%1.76%1.70%1.63%0.88%1.00%1.19%1.05%0.70%0.57%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)41,131.13
(-) Cash Dividends Paid (M)7,373.99
(=) Cash Retained (M)33,757.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8,226.235,141.393,084.83
Cash Retained (M)33,757.1433,757.1433,757.14
(-) Cash Required (M)-8,226.23-5,141.39-3,084.83
(=) Excess Retained (M)25,530.9128,615.7530,672.30
(/) Shares Outstanding (M)11.1211.1211.12
(=) Excess Retained per Share2,295.842,573.242,758.18
LTM Dividend per Share663.10663.10663.10
(+) Excess Retained per Share2,295.842,573.242,758.18
(=) Adjusted Dividend2,958.943,236.343,421.28
WACC / Discount Rate6.53%6.53%6.53%
Growth Rate-2.78%-1.78%-0.78%
Fair Value$30,878.29$38,223.58$46,398.72
Upside / Downside55.64%92.66%133.86%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)41,131.1340,397.7139,677.3638,969.8738,274.9837,592.4938,720.26
Payout Ratio17.93%32.34%46.76%61.17%75.59%90.00%92.50%
Projected Dividends (M)7,373.9913,065.5918,551.8723,838.3428,930.3833,833.2435,816.24

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.53%6.53%6.53%
Growth Rate-2.78%-1.78%-0.78%
Year 1 PV (M)12,139.5212,264.3912,389.26
Year 2 PV (M)16,015.2016,346.3716,680.92
Year 3 PV (M)19,120.2219,716.3420,324.72
Year 4 PV (M)21,559.7322,460.5923,389.39
Year 5 PV (M)23,426.3924,656.2825,937.30
PV of Terminal Value (M)701,983.14738,837.55777,223.85
Equity Value (M)794,244.20834,281.52875,945.45
Shares Outstanding (M)11.1211.1211.12
Fair Value$71,421.63$75,021.94$78,768.53
Upside / Downside259.99%278.13%297.02%

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