Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

F&F Co., Ltd (383220.KS)

Company Dividend Discount ModelIndustry: Apparel - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$142,615.98 - $284,090.14$197,925.60
Multi-Stage$689,225.25 - $761,661.16$724,716.10
Blended Fair Value$461,320.85
Current Price$79,000.00
Upside483.95%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020
DPS0.00%0.00%1,720.581,619.371,116.830.00406.970.000.000.000.000.00
YoY Growth--6.25%45.00%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.71%2.12%0.80%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)336,295.72
(-) Cash Dividends Paid (M)63,892.92
(=) Cash Retained (M)272,402.80
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)67,259.1442,036.9725,222.18
Cash Retained (M)272,402.80272,402.80272,402.80
(-) Cash Required (M)-67,259.14-42,036.97-25,222.18
(=) Excess Retained (M)205,143.65230,365.83247,180.62
(/) Shares Outstanding (M)37.6937.6937.69
(=) Excess Retained per Share5,443.436,112.696,558.86
LTM Dividend per Share1,695.381,695.381,695.38
(+) Excess Retained per Share5,443.436,112.696,558.86
(=) Adjusted Dividend7,138.817,808.078,254.24
WACC / Discount Rate2.91%2.91%2.91%
Growth Rate-2.00%-1.00%0.00%
Fair Value$142,615.98$197,925.60$284,090.14
Upside / Downside80.53%150.54%259.61%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)336,295.72332,932.77329,603.44326,307.40323,044.33319,813.89329,408.30
Payout Ratio19.00%33.20%47.40%61.60%75.80%90.00%92.50%
Projected Dividends (M)63,892.92110,531.09156,230.11201,004.09244,866.97287,832.50304,702.68

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.91%2.91%2.91%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)106,325.33107,410.29108,495.24
Year 2 PV (M)144,567.05147,532.45150,527.96
Year 3 PV (M)178,921.19184,454.44190,100.62
Year 4 PV (M)209,671.48218,361.39227,318.65
Year 5 PV (M)237,083.46249,428.95262,283.45
PV of Terminal Value (M)25,097,918.9626,404,825.8327,765,617.35
Equity Value (M)25,974,487.4727,312,013.3428,704,343.26
Shares Outstanding (M)37.6937.6937.69
Fair Value$689,225.25$724,716.10$761,661.16
Upside / Downside772.44%817.36%864.13%

High-Yield Dividend Screener

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