Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Iljin Power Co., Ltd. (094820.KQ)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$7,246.91 - $11,837.24$9,297.96
Multi-Stage$14,831.19 - $16,308.32$15,555.41
Blended Fair Value$12,426.68
Current Price$10,270.00
Upside21.00%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.53%8.79%322.82322.91322.83284.48284.70314.36209.55188.45159.22158.71
YoY Growth---0.03%0.03%13.48%-0.08%-9.43%50.01%11.20%18.36%0.32%14.20%
Dividend Yield--3.91%2.55%2.15%1.14%4.90%7.61%3.17%3.11%3.25%3.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)9,795.79
(-) Cash Dividends Paid (M)4,745.37
(=) Cash Retained (M)5,050.42
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,959.161,224.47734.68
Cash Retained (M)5,050.425,050.425,050.42
(-) Cash Required (M)-1,959.16-1,224.47-734.68
(=) Excess Retained (M)3,091.263,825.954,315.74
(/) Shares Outstanding (M)14.9114.9114.91
(=) Excess Retained per Share207.37256.66289.52
LTM Dividend per Share318.34318.34318.34
(+) Excess Retained per Share207.37256.66289.52
(=) Adjusted Dividend525.71575.00607.85
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-0.78%0.22%1.22%
Fair Value$7,246.91$9,297.96$11,837.24
Upside / Downside-29.44%-9.46%15.26%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9,795.799,817.559,839.359,861.219,883.119,905.0610,202.21
Payout Ratio48.44%56.75%65.07%73.38%81.69%90.00%92.50%
Projected Dividends (M)4,745.375,571.896,402.057,235.888,073.378,914.569,437.05

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-0.78%0.22%1.22%
Year 1 PV (M)5,183.515,235.755,287.99
Year 2 PV (M)5,540.685,652.925,766.29
Year 3 PV (M)5,825.816,003.746,185.25
Year 4 PV (M)6,047.036,294.526,549.53
Year 5 PV (M)6,211.686,531.076,863.47
PV of Terminal Value (M)192,275.88202,162.33212,451.33
Equity Value (M)221,084.60231,880.34243,103.87
Shares Outstanding (M)14.9114.9114.91
Fair Value$14,831.19$15,555.41$16,308.32
Upside / Downside44.41%51.46%58.80%

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