Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Hankook Tire & Technology Co., Ltd. (161390.KS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$626,578.35 - $1,531,956.64$1,435,667.72
Multi-Stage$221,527.19 - $242,555.88$231,848.04
Blended Fair Value$833,757.88
Current Price$39,750.00
Upside1,997.50%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS23.28%12.35%1,295.81802.72697.30647.49556.25455.13404.56438.22404.56404.54
YoY Growth--61.43%15.12%7.69%16.40%22.22%12.50%-7.68%8.32%0.00%0.01%
Dividend Yield--3.28%1.48%2.00%1.92%1.13%2.35%1.05%0.82%0.74%0.74%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)943,298.21
(-) Cash Dividends Paid (M)243,977.51
(=) Cash Retained (M)699,320.70
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)188,659.64117,912.2870,747.37
Cash Retained (M)699,320.70699,320.70699,320.70
(-) Cash Required (M)-188,659.64-117,912.28-70,747.37
(=) Excess Retained (M)510,661.06581,408.43628,573.34
(/) Shares Outstanding (M)122.46122.46122.46
(=) Excess Retained per Share4,170.134,747.875,133.02
LTM Dividend per Share1,992.361,992.361,992.36
(+) Excess Retained per Share4,170.134,747.875,133.02
(=) Adjusted Dividend6,162.496,740.227,125.38
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate5.50%6.50%7.50%
Fair Value$626,578.35$1,435,667.72$1,531,956.64
Upside / Downside1,476.30%3,511.74%3,753.98%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)943,298.211,004,612.591,069,912.411,139,456.721,213,521.401,292,400.291,331,172.30
Payout Ratio25.86%38.69%51.52%64.35%77.17%90.00%92.50%
Projected Dividends (M)243,977.51388,699.10551,203.70733,191.64936,509.181,163,160.261,231,334.38

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)361,421.05364,846.84368,272.64
Year 2 PV (M)476,553.81485,630.82494,793.46
Year 3 PV (M)589,409.64606,329.47623,570.05
Year 4 PV (M)700,021.98726,942.85754,632.83
Year 5 PV (M)808,423.83847,471.00888,012.60
PV of Terminal Value (M)24,191,669.4525,360,136.1326,573,322.78
Equity Value (M)27,127,499.7628,391,357.1229,702,604.37
Shares Outstanding (M)122.46122.46122.46
Fair Value$221,527.19$231,848.04$242,555.88
Upside / Downside457.30%483.27%510.20%

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