Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sanil Electric Co., Ltd. (062040.KS)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$28,431.10 - $40,254.32$34,270.06
Multi-Stage$41,691.02 - $45,820.31$43,715.61
Blended Fair Value$38,992.83
Current Price$110,100.00
Upside-64.58%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS0.00%0.00%148.4513.9613.960.000.000.000.000.000.000.00
YoY Growth--963.34%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.29%0.04%0.04%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)132,956.55
(-) Cash Dividends Paid (M)12,761.47
(=) Cash Retained (M)120,195.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26,591.3116,619.579,971.74
Cash Retained (M)120,195.08120,195.08120,195.08
(-) Cash Required (M)-26,591.31-16,619.57-9,971.74
(=) Excess Retained (M)93,603.77103,575.51110,223.34
(/) Shares Outstanding (M)30.5630.5630.56
(=) Excess Retained per Share3,063.253,389.583,607.14
LTM Dividend per Share417.63417.63417.63
(+) Excess Retained per Share3,063.253,389.583,607.14
(=) Adjusted Dividend3,480.883,807.214,024.77
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate-2.00%-1.00%0.00%
Fair Value$28,431.10$34,270.06$40,254.32
Upside / Downside-74.18%-68.87%-63.44%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)132,956.55131,626.98130,310.71129,007.61127,717.53126,440.36130,233.57
Payout Ratio9.60%25.68%41.76%57.84%73.92%90.00%92.50%
Projected Dividends (M)12,761.4733,799.9454,416.3774,617.0894,408.35113,796.32120,466.05

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)30,417.3030,727.6831,038.06
Year 2 PV (M)44,069.5944,973.5545,886.70
Year 3 PV (M)54,381.6656,063.4557,779.56
Year 4 PV (M)61,919.7664,486.0567,131.29
Year 5 PV (M)67,166.3670,663.8774,305.58
PV of Terminal Value (M)1,015,997.841,068,903.211,123,989.89
Equity Value (M)1,273,952.511,335,817.801,400,131.08
Shares Outstanding (M)30.5630.5630.56
Fair Value$41,691.02$43,715.61$45,820.31
Upside / Downside-62.13%-60.29%-58.38%

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