Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

InBody Co.,Ltd (041830.KQ)

Company Dividend Discount ModelIndustry: Medical - SpecialtiesSector: Healthcare

Valuation Snapshot

Stable Growth$2,364.89 - $2,852.73$2,641.91
Multi-Stage$1,403.23 - $1,475.02$1,438.71
Blended Fair Value$2,040.31
Current Price$23,850.00
Upside-91.45%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS23.05%23.68%357.98306.84204.56143.19146.21126.91127.03106.8885.5064.13
YoY Growth--16.67%50.00%42.86%-2.07%15.21%-0.09%18.85%25.00%33.33%50.00%
Dividend Yield--1.61%1.04%0.70%0.51%0.72%0.80%0.57%0.21%0.37%0.13%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)30,623.36
(-) Cash Dividends Paid (M)5,043.18
(=) Cash Retained (M)25,580.18
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6,124.673,827.922,296.75
Cash Retained (M)25,580.1825,580.1825,580.18
(-) Cash Required (M)-6,124.67-3,827.92-2,296.75
(=) Excess Retained (M)19,455.5121,752.2623,283.43
(/) Shares Outstanding (M)12.7412.7412.74
(=) Excess Retained per Share1,527.541,707.871,828.09
LTM Dividend per Share395.96395.96395.96
(+) Excess Retained per Share1,527.541,707.871,828.09
(=) Adjusted Dividend1,923.502,103.832,224.05
WACC / Discount Rate91.31%91.31%91.31%
Growth Rate5.50%6.50%7.50%
Fair Value$2,364.89$2,641.91$2,852.73
Upside / Downside-90.08%-88.92%-88.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)30,623.3632,613.8834,733.7836,991.4839,395.9241,956.6643,215.36
Payout Ratio16.47%31.17%45.88%60.59%75.29%90.00%92.50%
Projected Dividends (M)5,043.1810,167.2915,936.2222,412.1629,662.6437,760.9939,974.21

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate91.31%91.31%91.31%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)5,264.685,314.585,364.49
Year 2 PV (M)4,272.874,354.254,436.41
Year 3 PV (M)3,111.613,200.933,291.95
Year 4 PV (M)2,132.452,214.452,298.80
Year 5 PV (M)1,405.651,473.551,544.04
PV of Terminal Value (M)1,685.041,766.421,850.93
Equity Value (M)17,872.2918,324.1918,786.61
Shares Outstanding (M)12.7412.7412.74
Fair Value$1,403.23$1,438.71$1,475.02
Upside / Downside-94.12%-93.97%-93.82%

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