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SBSUNGBO Co., Ltd. (003080.KS)

Company Dividend Discount ModelIndustry: Agricultural InputsSector: Basic Materials

Valuation Snapshot

Stable Growth$22,809.48 - $37,121.36$29,220.34
Multi-Stage$48,498.55 - $53,443.08$50,922.22
Blended Fair Value$40,071.28
Current Price$2,830.00
Upside1,315.95%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-8.69%17.96%135.09135.62120.57134.14136.79212.79584.83449.86224.93204.49
YoY Growth---0.39%12.48%-10.12%-1.93%-35.72%-63.61%30.00%100.00%10.00%689.78%
Dividend Yield--5.61%4.63%3.78%3.24%2.46%6.45%11.54%7.23%3.75%3.17%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)41,014.47
(-) Cash Dividends Paid (M)4,015.54
(=) Cash Retained (M)36,998.92
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8,202.895,126.813,076.08
Cash Retained (M)36,998.9236,998.9236,998.92
(-) Cash Required (M)-8,202.89-5,126.81-3,076.08
(=) Excess Retained (M)28,796.0331,872.1133,922.84
(/) Shares Outstanding (M)19.5819.5819.58
(=) Excess Retained per Share1,470.671,627.771,732.51
LTM Dividend per Share205.08205.08205.08
(+) Excess Retained per Share1,470.671,627.771,732.51
(=) Adjusted Dividend1,675.751,832.851,937.59
WACC / Discount Rate6.20%6.20%6.20%
Growth Rate-1.07%-0.07%0.93%
Fair Value$22,809.48$29,220.34$37,121.36
Upside / Downside705.99%932.52%1,211.71%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)41,014.4740,986.1840,957.9040,929.6540,901.4240,873.2142,099.41
Payout Ratio9.79%25.83%41.87%57.92%73.96%90.00%92.50%
Projected Dividends (M)4,015.5410,587.7317,150.8523,704.9130,249.9236,785.8938,941.95

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.20%6.20%6.20%
Growth Rate-1.07%-0.07%0.93%
Year 1 PV (M)9,869.929,969.6910,069.45
Year 2 PV (M)14,904.1515,206.9815,512.85
Year 3 PV (M)19,203.0819,791.3020,391.41
Year 4 PV (M)22,843.7623,781.4824,747.78
Year 5 PV (M)25,896.1627,231.6928,621.76
PV of Terminal Value (M)856,894.87901,086.97947,083.82
Equity Value (M)949,611.94997,068.111,046,427.08
Shares Outstanding (M)19.5819.5819.58
Fair Value$48,498.55$50,922.22$53,443.08
Upside / Downside1,613.73%1,699.37%1,788.45%

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