Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Kukje Pharma Co., Ltd. (002720.KS)

Company Dividend Discount ModelIndustry: Drug Manufacturers - Specialty & GenericSector: Healthcare

Valuation Snapshot

Stable Growth$5,922.01 - $12,044.39$8,281.51
Multi-Stage$12,671.10 - $13,955.93$13,301.01
Blended Fair Value$10,791.26
Current Price$4,370.00
Upside146.94%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.000.0025.318.117.760.007.26
YoY Growth--0.00%0.00%0.00%0.00%-100.00%211.95%4.61%0.00%-100.00%3.00%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%0.50%0.17%0.15%0.00%0.22%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)7,136.92
(-) Cash Dividends Paid (M)610.88
(=) Cash Retained (M)6,526.04
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,427.38892.11535.27
Cash Retained (M)6,526.046,526.046,526.04
(-) Cash Required (M)-1,427.38-892.11-535.27
(=) Excess Retained (M)5,098.665,633.935,990.77
(/) Shares Outstanding (M)20.3520.3520.35
(=) Excess Retained per Share250.51276.81294.34
LTM Dividend per Share30.0130.0130.01
(+) Excess Retained per Share250.51276.81294.34
(=) Adjusted Dividend280.53306.82324.36
WACC / Discount Rate5.24%5.24%5.24%
Growth Rate0.48%1.48%2.48%
Fair Value$5,922.01$8,281.51$12,044.39
Upside / Downside35.52%89.51%175.62%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)7,136.927,242.797,350.237,459.267,569.927,682.217,912.68
Payout Ratio8.56%24.85%41.14%57.42%73.71%90.00%92.50%
Projected Dividends (M)610.881,799.653,023.564,283.395,579.936,913.997,319.23

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.24%5.24%5.24%
Growth Rate0.48%1.48%2.48%
Year 1 PV (M)1,693.141,709.991,726.84
Year 2 PV (M)2,676.262,729.792,783.86
Year 3 PV (M)3,566.993,674.553,784.25
Year 4 PV (M)4,371.674,548.314,730.25
Year 5 PV (M)5,096.275,354.965,624.04
PV of Terminal Value (M)240,490.74252,697.99265,395.99
Equity Value (M)257,895.07270,715.59284,045.24
Shares Outstanding (M)20.3520.3520.35
Fair Value$12,671.10$13,301.01$13,955.93
Upside / Downside189.96%204.37%219.36%

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