Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Seohee Construction Co., Ltd. (035890.KQ)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$13,402.08 - $32,951.51$20,009.49
Multi-Stage$16,110.77 - $17,695.50$16,888.10
Blended Fair Value$18,448.80
Current Price$1,716.00
Upside975.10%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS28.34%0.00%47.2552.0158.3546.2331.8313.5713.648.310.000.00
YoY Growth---9.16%-10.86%26.21%45.22%134.63%-0.49%64.12%0.00%0.00%0.00%
Dividend Yield--3.22%3.86%4.68%2.42%1.95%1.75%1.13%0.74%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)117,279.30
(-) Cash Dividends Paid (M)8,830.67
(=) Cash Retained (M)108,448.64
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)23,455.8614,659.918,795.95
Cash Retained (M)108,448.64108,448.64108,448.64
(-) Cash Required (M)-23,455.86-14,659.91-8,795.95
(=) Excess Retained (M)84,992.7893,788.7399,652.69
(/) Shares Outstanding (M)186.91186.91186.91
(=) Excess Retained per Share454.72501.78533.15
LTM Dividend per Share47.2547.2547.25
(+) Excess Retained per Share454.72501.78533.15
(=) Adjusted Dividend501.97549.03580.40
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate2.58%3.58%4.58%
Fair Value$13,402.08$20,009.49$32,951.51
Upside / Downside681.01%1,066.05%1,820.25%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)117,279.30121,476.47125,823.84130,326.79134,990.90139,821.92144,016.58
Payout Ratio7.53%24.02%40.52%57.01%73.51%90.00%92.50%
Projected Dividends (M)8,830.6729,183.1250,981.0074,301.7099,226.30125,839.73133,215.33

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate2.58%3.58%4.58%
Year 1 PV (M)27,157.6427,422.3827,687.13
Year 2 PV (M)44,149.8145,014.8045,888.19
Year 3 PV (M)59,879.6861,648.0463,450.87
Year 4 PV (M)74,416.2477,360.7780,391.83
Year 5 PV (M)87,825.1692,190.3196,727.32
PV of Terminal Value (M)2,717,867.342,852,952.662,993,356.64
Equity Value (M)3,011,295.873,156,588.963,307,501.99
Shares Outstanding (M)186.91186.91186.91
Fair Value$16,110.77$16,888.10$17,695.50
Upside / Downside838.86%884.16%931.21%

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