Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Kyungin Electronics Co., Ltd (009140.KS)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$145,689.22 - $264,167.93$247,389.70
Multi-Stage$135,271.88 - $149,495.47$142,240.86
Blended Fair Value$194,815.28
Current Price$20,250.00
Upside862.05%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.37%-0.52%349.67349.67249.76249.76255.32256.73263.26263.26368.56368.56
YoY Growth--0.00%40.00%0.00%-2.17%-0.55%-2.48%0.00%-28.57%0.00%0.00%
Dividend Yield--1.89%1.60%1.07%0.78%0.86%1.59%0.85%0.85%1.73%1.76%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,860.05
(-) Cash Dividends Paid (M)455.89
(=) Cash Retained (M)1,404.16
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)372.01232.51139.50
Cash Retained (M)1,404.161,404.161,404.16
(-) Cash Required (M)-372.01-232.51-139.50
(=) Excess Retained (M)1,032.151,171.661,264.66
(/) Shares Outstanding (M)1.301.301.30
(=) Excess Retained per Share792.37899.46970.86
LTM Dividend per Share349.98349.98349.98
(+) Excess Retained per Share792.37899.46970.86
(=) Adjusted Dividend1,142.351,249.441,320.84
WACC / Discount Rate-1.23%-1.23%-1.23%
Growth Rate-2.00%-1.00%0.00%
Fair Value$145,689.22$247,389.70$264,167.93
Upside / Downside619.45%1,121.68%1,204.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,860.051,841.451,823.041,804.811,786.761,768.891,821.96
Payout Ratio24.51%37.61%50.71%63.80%76.90%90.00%92.50%
Projected Dividends (M)455.89692.52924.381,151.531,374.051,592.001,685.31

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.23%-1.23%-1.23%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)694.08701.16708.24
Year 2 PV (M)928.53947.58966.82
Year 3 PV (M)1,159.301,195.151,231.73
Year 4 PV (M)1,386.421,443.881,503.11
Year 5 PV (M)1,609.931,693.761,781.05
PV of Terminal Value (M)170,429.19179,303.83188,544.38
Equity Value (M)176,207.45185,285.37194,735.34
Shares Outstanding (M)1.301.301.30
Fair Value$135,271.88$142,240.86$149,495.47
Upside / Downside568.01%602.42%638.25%

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