Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

HS Hwasung Co., Ltd. (002460.KS)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$80,483.86 - $214,612.08$123,276.20
Multi-Stage$91,599.19 - $100,561.57$95,995.66
Blended Fair Value$109,635.93
Current Price$10,070.00
Upside988.74%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-16.49%4.84%483.18483.181,279.20831.48639.601,189.651,138.49918.78665.18511.68
YoY Growth--0.00%-62.23%53.85%30.00%-46.24%4.49%23.91%38.13%30.00%69.82%
Dividend Yield--5.11%4.85%13.07%4.04%5.24%15.97%7.88%6.10%4.87%3.82%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)33,198.81
(-) Cash Dividends Paid (M)4,732.36
(=) Cash Retained (M)28,466.44
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6,639.764,149.852,489.91
Cash Retained (M)28,466.4428,466.4428,466.44
(-) Cash Required (M)-6,639.76-4,149.85-2,489.91
(=) Excess Retained (M)21,826.6824,316.5925,976.53
(/) Shares Outstanding (M)9.479.479.47
(=) Excess Retained per Share2,305.552,568.562,743.90
LTM Dividend per Share499.88499.88499.88
(+) Excess Retained per Share2,305.552,568.562,743.90
(=) Adjusted Dividend2,805.433,068.443,243.78
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate2.84%3.84%4.84%
Fair Value$80,483.86$123,276.20$214,612.08
Upside / Downside699.24%1,124.19%2,031.20%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)33,198.8134,472.2035,794.4337,167.3738,592.9840,073.2741,275.47
Payout Ratio14.25%29.40%44.55%59.70%74.85%90.00%92.50%
Projected Dividends (M)4,732.3610,136.1015,947.4122,189.6128,887.2036,065.9438,179.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate2.84%3.84%4.84%
Year 1 PV (M)9,432.879,524.609,616.33
Year 2 PV (M)13,811.3614,081.2814,353.81
Year 3 PV (M)17,884.1818,411.0018,948.07
Year 4 PV (M)21,666.9722,522.1223,402.34
Year 5 PV (M)25,174.6326,422.6927,719.77
PV of Terminal Value (M)779,199.56817,829.25857,976.07
Equity Value (M)867,169.57908,790.94952,016.38
Shares Outstanding (M)9.479.479.47
Fair Value$91,599.19$95,995.66$100,561.57
Upside / Downside809.62%853.28%898.63%

High-Yield Dividend Screener

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