Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sebang Co., Ltd (004360.KS)

Company Dividend Discount ModelIndustry: Integrated Freight & LogisticsSector: Industrials

Valuation Snapshot

Stable Growth$24,894.14 - $36,891.72$30,624.84
Multi-Stage$20,575.86 - $22,399.80$21,471.74
Blended Fair Value$26,048.29
Current Price$14,810.00
Upside75.88%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS69.99%6.56%309.35273.73204.93204.27185.3321.80185.33186.88187.78161.81
YoY Growth--13.01%33.57%0.32%10.22%750.31%-88.24%-0.83%-0.48%16.05%-1.27%
Dividend Yield--2.77%2.30%0.45%1.73%1.40%0.28%1.27%1.35%1.19%0.94%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)62,256.78
(-) Cash Dividends Paid (M)7,052.99
(=) Cash Retained (M)55,203.79
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)12,451.367,782.104,669.26
Cash Retained (M)55,203.7955,203.7955,203.79
(-) Cash Required (M)-12,451.36-7,782.10-4,669.26
(=) Excess Retained (M)42,752.4347,421.6950,534.53
(/) Shares Outstanding (M)21.6321.6321.63
(=) Excess Retained per Share1,976.242,192.072,335.97
LTM Dividend per Share326.03326.03326.03
(+) Excess Retained per Share1,976.242,192.072,335.97
(=) Adjusted Dividend2,302.262,518.102,661.99
WACC / Discount Rate15.26%15.26%15.26%
Growth Rate5.50%6.50%7.50%
Fair Value$24,894.14$30,624.84$36,891.72
Upside / Downside68.09%106.78%149.10%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)62,256.7866,303.4770,613.2075,203.0680,091.2685,297.1987,856.10
Payout Ratio11.33%27.06%42.80%58.53%74.27%90.00%92.50%
Projected Dividends (M)7,052.9917,943.7730,220.5644,017.5159,480.3976,767.4781,266.89

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate15.26%15.26%15.26%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)15,422.3215,568.5115,714.69
Year 2 PV (M)22,324.1322,749.3423,178.57
Year 3 PV (M)27,946.9028,749.1629,566.62
Year 4 PV (M)32,457.7233,705.9534,989.85
Year 5 PV (M)36,004.5637,743.5939,549.18
PV of Terminal Value (M)310,967.14325,986.97341,581.64
Equity Value (M)445,122.77464,503.52484,580.54
Shares Outstanding (M)21.6321.6321.63
Fair Value$20,575.86$21,471.74$22,399.80
Upside / Downside38.93%44.98%51.25%

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