Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

SHINSEGAE Information & Communication Co., Ltd. (035510.KS)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: Technology

Valuation Snapshot

Stable Growth$133,725.13 - $697,978.15$269,160.57
Multi-Stage$73,528.34 - $80,475.55$76,938.25
Blended Fair Value$173,049.41
Current Price$14,160.00
Upside1,122.10%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS13.39%10.34%350.12500.17250.09221.55249.06186.80124.83130.00130.88130.88
YoY Growth---30.00%100.00%12.88%-11.05%33.33%49.64%-3.98%-0.67%0.00%0.00%
Dividend Yield--2.96%4.20%1.58%1.16%1.62%1.95%0.81%0.73%1.89%1.37%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)46,120.96
(-) Cash Dividends Paid (M)5,652.70
(=) Cash Retained (M)40,468.26
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9,224.195,765.123,459.07
Cash Retained (M)40,468.2640,468.2640,468.26
(-) Cash Required (M)-9,224.19-5,765.12-3,459.07
(=) Excess Retained (M)31,244.0734,703.1437,009.19
(/) Shares Outstanding (M)13.1413.1413.14
(=) Excess Retained per Share2,377.562,640.782,816.26
LTM Dividend per Share430.15430.15430.15
(+) Excess Retained per Share2,377.562,640.782,816.26
(=) Adjusted Dividend2,807.713,070.933,246.41
WACC / Discount Rate7.72%7.72%7.72%
Growth Rate5.50%6.50%7.50%
Fair Value$133,725.13$269,160.57$697,978.15
Upside / Downside844.39%1,800.85%4,829.22%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)46,120.9649,118.8252,311.5455,711.7959,333.0663,189.7165,085.40
Payout Ratio12.26%27.80%43.35%58.90%74.45%90.00%92.50%
Projected Dividends (M)5,652.7013,657.4922,679.0132,815.6444,174.2056,870.7460,203.99

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.72%7.72%7.72%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)12,560.2212,679.2712,798.32
Year 2 PV (M)19,181.2419,546.5919,915.39
Year 3 PV (M)25,524.6526,257.3727,003.98
Year 4 PV (M)31,599.0532,814.2634,064.18
Year 5 PV (M)37,412.8239,219.8741,096.08
PV of Terminal Value (M)839,976.28880,547.45922,671.37
Equity Value (M)966,254.251,011,064.811,057,549.33
Shares Outstanding (M)13.1413.1413.14
Fair Value$73,528.34$76,938.25$80,475.55
Upside / Downside419.27%443.35%468.33%

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