Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Hwaseung Corporation Co.,Ltd. (013520.KS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$16,702.26 - $41,109.80$24,945.29
Multi-Stage$19,517.74 - $21,428.43$20,455.01
Blended Fair Value$22,700.15
Current Price$2,075.00
Upside993.98%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.84%7.48%66.8766.8733.4433.4438.8041.8242.8676.8165.0232.51
YoY Growth--0.00%100.00%-0.01%-13.81%-7.24%-2.43%-44.20%18.12%100.00%0.00%
Dividend Yield--4.13%3.47%1.69%1.74%2.15%2.84%2.04%3.35%1.68%0.71%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)35,735.44
(-) Cash Dividends Paid (M)4,754.70
(=) Cash Retained (M)30,980.73
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7,147.094,466.932,680.16
Cash Retained (M)30,980.7330,980.7330,980.73
(-) Cash Required (M)-7,147.09-4,466.93-2,680.16
(=) Excess Retained (M)23,833.6526,513.8028,300.58
(/) Shares Outstanding (M)45.8045.8045.80
(=) Excess Retained per Share520.38578.90617.91
LTM Dividend per Share103.81103.81103.81
(+) Excess Retained per Share520.38578.90617.91
(=) Adjusted Dividend624.19682.71721.72
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate2.70%3.70%4.70%
Fair Value$16,702.26$24,945.29$41,109.80
Upside / Downside704.93%1,102.18%1,881.20%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)35,735.4437,058.1938,429.9239,852.4141,327.5642,857.3244,143.04
Payout Ratio13.31%28.64%43.98%59.32%74.66%90.00%92.50%
Projected Dividends (M)4,754.7010,615.0316,902.7023,641.2930,855.6038,571.5940,832.31

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate2.70%3.70%4.70%
Year 1 PV (M)9,867.389,963.4610,059.53
Year 2 PV (M)14,605.5114,891.3215,179.90
Year 3 PV (M)18,989.4519,549.5720,120.59
Year 4 PV (M)23,038.5723,949.0624,886.28
Year 5 PV (M)26,771.3028,100.2829,481.53
PV of Terminal Value (M)800,650.12840,396.09881,705.08
Equity Value (M)893,922.33936,849.78981,432.92
Shares Outstanding (M)45.8045.8045.80
Fair Value$19,517.74$20,455.01$21,428.43
Upside / Downside840.61%885.78%932.70%

High-Yield Dividend Screener

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