Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Dongwon F&B Co., Ltd. (049770.KS)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$393,574.03 - $1,226,818.66$1,149,708.75
Multi-Stage$161,929.02 - $177,343.00$169,494.08
Blended Fair Value$659,601.41
Current Price$32,100.00
Upside1,954.83%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.92%7.18%800.00700.00700.00700.00600.00600.00500.00500.00500.00600.00
YoY Growth--14.29%0.00%0.00%16.67%0.00%20.00%0.00%0.00%-16.67%50.00%
Dividend Yield--2.49%2.07%0.44%0.39%0.31%0.36%0.20%0.23%0.22%0.18%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)119,030.90
(-) Cash Dividends Paid (M)15,436.50
(=) Cash Retained (M)103,594.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)23,806.1814,878.868,927.32
Cash Retained (M)103,594.40103,594.40103,594.40
(-) Cash Required (M)-23,806.18-14,878.86-8,927.32
(=) Excess Retained (M)79,788.2288,715.5494,667.08
(/) Shares Outstanding (M)19.3019.3019.30
(=) Excess Retained per Share4,135.044,597.704,906.13
LTM Dividend per Share800.00800.00800.00
(+) Excess Retained per Share4,135.044,597.704,906.13
(=) Adjusted Dividend4,935.035,397.695,706.13
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate5.50%6.50%7.50%
Fair Value$393,574.03$1,149,708.75$1,226,818.66
Upside / Downside1,126.09%3,481.65%3,721.86%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)119,030.90126,767.91135,007.82143,783.33153,129.24163,082.64167,975.12
Payout Ratio12.97%28.37%43.78%59.19%74.59%90.00%92.50%
Projected Dividends (M)15,436.5035,970.1259,107.8985,101.60114,224.76146,774.38155,376.99

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)33,356.5033,672.6833,988.85
Year 2 PV (M)50,830.3051,798.4852,775.79
Year 3 PV (M)67,866.2169,814.4071,799.53
Year 4 PV (M)84,472.3887,720.9591,062.33
Year 5 PV (M)100,656.86105,518.62110,566.46
PV of Terminal Value (M)2,787,344.312,921,974.083,061,756.45
Equity Value (M)3,124,526.563,270,499.213,421,949.41
Shares Outstanding (M)19.3019.3019.30
Fair Value$161,929.02$169,494.08$177,343.00
Upside / Downside404.45%428.02%452.47%

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