Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Dongwon F&B Co., Ltd. (049770.KS)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$246,469.11 - $1,226,818.66$516,760.50
Multi-Stage$132,429.45 - $144,948.25$138,574.04
Blended Fair Value$327,667.27
Current Price$32,100.00
Upside920.77%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.92%7.18%800.00700.00700.00700.00600.00600.00500.00500.00500.00600.00
YoY Growth--14.29%0.00%0.00%16.67%0.00%20.00%0.00%0.00%-16.67%50.00%
Dividend Yield--2.49%2.07%0.44%0.39%0.31%0.36%0.20%0.23%0.22%0.18%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)119,030.90
(-) Cash Dividends Paid (M)15,436.50
(=) Cash Retained (M)103,594.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)23,806.1814,878.868,927.32
Cash Retained (M)103,594.40103,594.40103,594.40
(-) Cash Required (M)-23,806.18-14,878.86-8,927.32
(=) Excess Retained (M)79,788.2288,715.5494,667.08
(/) Shares Outstanding (M)19.3019.3019.30
(=) Excess Retained per Share4,135.044,597.704,906.13
LTM Dividend per Share800.00800.00800.00
(+) Excess Retained per Share4,135.044,597.704,906.13
(=) Adjusted Dividend4,935.035,397.695,706.13
WACC / Discount Rate7.61%7.61%7.61%
Growth Rate5.50%6.50%7.50%
Fair Value$246,469.11$516,760.50$1,226,818.66
Upside / Downside667.82%1,509.85%3,721.86%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)119,030.90126,767.91135,007.82143,783.33153,129.24163,082.64167,975.12
Payout Ratio12.97%28.37%43.78%59.19%74.59%90.00%92.50%
Projected Dividends (M)15,436.5035,970.1259,107.8985,101.60114,224.76146,774.38155,376.99

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.61%7.61%7.61%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)33,111.7633,425.6233,739.47
Year 2 PV (M)50,087.1651,041.1852,004.20
Year 3 PV (M)66,383.3468,288.9770,230.72
Year 4 PV (M)82,020.4485,174.7188,419.10
Year 5 PV (M)97,018.05101,704.06106,569.41
PV of Terminal Value (M)2,226,692.272,334,242.342,445,908.60
Equity Value (M)2,555,313.022,673,876.872,796,871.50
Shares Outstanding (M)19.3019.3019.30
Fair Value$132,429.45$138,574.04$144,948.25
Upside / Downside312.55%331.69%351.55%

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