Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Korea Electric Power Corporation (015760.KS)

Company Dividend Discount ModelIndustry: Regulated ElectricSector: Utilities

Valuation Snapshot

Stable Growth$212,168.05 - $417,698.52$293,124.87
Multi-Stage$222,966.16 - $244,572.35$233,566.52
Blended Fair Value$263,345.69
Current Price$39,300.00
Upside570.09%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.02%-3.80%197.6870.6065.971,265.12126.64154.77933.682,087.953,253.19638.48
YoY Growth--180.00%7.03%-94.79%898.99%-18.18%-83.42%-55.28%-35.82%409.52%119.21%
Dividend Yield--0.91%0.32%0.37%5.59%0.55%0.80%3.08%6.36%7.00%1.06%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)8,237,058.00
(-) Cash Dividends Paid (M)256,967.00
(=) Cash Retained (M)7,980,091.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,647,411.601,029,632.25617,779.35
Cash Retained (M)7,980,091.007,980,091.007,980,091.00
(-) Cash Required (M)-1,647,411.60-1,029,632.25-617,779.35
(=) Excess Retained (M)6,332,679.406,950,458.757,362,311.65
(/) Shares Outstanding (M)641.96641.96641.96
(=) Excess Retained per Share9,864.5410,826.8711,468.42
LTM Dividend per Share400.28400.28400.28
(+) Excess Retained per Share9,864.5410,826.8711,468.42
(=) Adjusted Dividend10,264.8211,227.1511,868.70
WACC / Discount Rate8.00%8.00%8.00%
Growth Rate3.02%4.02%5.02%
Fair Value$212,168.05$293,124.87$417,698.52
Upside / Downside439.87%645.86%962.85%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)8,237,058.008,567,859.968,911,946.999,269,852.639,642,131.8410,029,361.8510,330,242.71
Payout Ratio3.12%20.50%37.87%55.25%72.62%90.00%92.50%
Projected Dividends (M)256,967.001,756,044.273,375,113.605,121,395.037,002,494.999,026,425.679,555,474.50

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.00%8.00%8.00%
Growth Rate3.02%4.02%5.02%
Year 1 PV (M)1,610,335.031,625,966.921,641,598.81
Year 2 PV (M)2,838,245.472,893,615.912,949,521.25
Year 3 PV (M)3,949,395.384,065,528.504,183,916.20
Year 4 PV (M)4,951,946.275,147,042.865,347,848.25
Year 5 PV (M)5,853,555.056,143,233.646,444,268.79
PV of Terminal Value (M)123,932,768.23130,065,907.75136,439,490.78
Equity Value (M)143,136,245.43149,941,295.57157,006,644.08
Shares Outstanding (M)641.96641.96641.96
Fair Value$222,966.16$233,566.52$244,572.35
Upside / Downside467.34%494.32%522.32%

High-Yield Dividend Screener

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