Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Netmarble Corporation (251270.KS)

Company Dividend Discount ModelIndustry: Electronic Gaming & MultimediaSector: Technology

Valuation Snapshot

Stable Growth$11,104.29 - $16,802.30$13,787.71
Multi-Stage$22,636.99 - $24,906.69$23,749.60
Blended Fair Value$18,768.66
Current Price$61,700.00
Upside-69.58%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-7.46%0.00%1.0625.97627.151,876.920.001.57365.880.0046.1737.41
YoY Growth---95.90%-95.86%-66.59%0.00%-100.00%-99.57%0.00%-100.00%23.41%0.00%
Dividend Yield--0.00%0.04%0.95%1.68%0.00%0.00%0.30%0.00%0.03%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)107,560.13
(-) Cash Dividends Paid (M)41,257.49
(=) Cash Retained (M)66,302.64
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21,512.0313,445.028,067.01
Cash Retained (M)66,302.6466,302.6466,302.64
(-) Cash Required (M)-21,512.03-13,445.02-8,067.01
(=) Excess Retained (M)44,790.6152,857.6258,235.63
(/) Shares Outstanding (M)83.6483.6483.64
(=) Excess Retained per Share535.55632.00696.30
LTM Dividend per Share493.30493.30493.30
(+) Excess Retained per Share535.55632.00696.30
(=) Adjusted Dividend1,028.851,125.301,189.61
WACC / Discount Rate7.08%7.08%7.08%
Growth Rate-2.00%-1.00%0.00%
Fair Value$11,104.29$13,787.71$16,802.30
Upside / Downside-82.00%-77.65%-72.77%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)107,560.13106,484.53105,419.68104,365.49103,321.83102,288.61105,357.27
Payout Ratio38.36%48.69%59.01%69.34%79.67%90.00%92.50%
Projected Dividends (M)41,257.4951,843.1562,212.9772,370.2082,318.0792,059.7597,455.48

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.08%7.08%7.08%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)47,926.2848,415.3348,904.37
Year 2 PV (M)53,167.4354,258.0255,359.68
Year 3 PV (M)57,175.1158,943.2960,747.55
Year 4 PV (M)60,120.8162,612.5365,180.92
Year 5 PV (M)62,155.8265,392.4268,762.46
PV of Terminal Value (M)1,612,705.101,696,682.391,784,122.13
Equity Value (M)1,893,250.551,986,303.982,083,077.11
Shares Outstanding (M)83.6483.6483.64
Fair Value$22,636.99$23,749.60$24,906.69
Upside / Downside-63.31%-61.51%-59.63%

High-Yield Dividend Screener

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