Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

SamYoung Chemical Co.,Ltd (003720.KS)

Company Dividend Discount ModelIndustry: Packaging & ContainersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$1,998.64 - $3,097.00$2,507.44
Multi-Stage$4,456.33 - $4,914.05$4,680.66
Blended Fair Value$3,594.05
Current Price$3,785.00
Upside-5.04%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%20.080.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.53%0.00%0.00%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)7,057.07
(-) Cash Dividends Paid (M)658.48
(=) Cash Retained (M)6,398.59
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,411.41882.13529.28
Cash Retained (M)6,398.596,398.596,398.59
(-) Cash Required (M)-1,411.41-882.13-529.28
(=) Excess Retained (M)4,987.185,516.465,869.31
(/) Shares Outstanding (M)33.0233.0233.02
(=) Excess Retained per Share151.02167.04177.73
LTM Dividend per Share19.9419.9419.94
(+) Excess Retained per Share151.02167.04177.73
(=) Adjusted Dividend170.96186.98197.67
WACC / Discount Rate6.38%6.38%6.38%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1,998.64$2,507.44$3,097.00
Upside / Downside-47.20%-33.75%-18.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)7,057.076,986.506,916.636,847.476,778.996,711.206,912.54
Payout Ratio9.33%25.46%41.60%57.73%73.87%90.00%92.50%
Projected Dividends (M)658.481,779.092,877.213,953.205,007.386,040.086,394.10

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.38%6.38%6.38%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)1,655.451,672.351,689.24
Year 2 PV (M)2,491.222,542.332,593.95
Year 3 PV (M)3,185.013,283.503,384.01
Year 4 PV (M)3,753.983,909.574,069.94
Year 5 PV (M)4,213.524,432.934,661.38
PV of Terminal Value (M)131,866.82138,733.43145,883.15
Equity Value (M)147,166.01154,574.10162,281.67
Shares Outstanding (M)33.0233.0233.02
Fair Value$4,456.33$4,680.66$4,914.05
Upside / Downside17.74%23.66%29.83%

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