Definitive Analysis
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Green Cross Holdings Corporation (005257.KS)

Company Dividend Discount ModelIndustry: BiotechnologySector: Healthcare

Valuation Snapshot

Stable Growth$92,172.61 - $197,756.04$131,395.34
Multi-Stage$90,352.59 - $98,901.10$94,547.68
Blended Fair Value$112,971.51
Current Price$129,200.00
Upside-12.56%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.55%2.86%1,711.372,175.082,101.511,621.891,114.401,084.571,249.991,343.211,796.151,316.75
YoY Growth---21.32%3.50%29.57%45.54%2.75%-13.23%-6.94%-25.22%36.41%1.97%
Dividend Yield--1.40%1.76%1.72%0.80%0.31%0.79%0.87%0.65%1.13%0.74%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)56,335.14
(-) Cash Dividends Paid (M)18,831.36
(=) Cash Retained (M)37,503.79
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)11,267.037,041.894,225.14
Cash Retained (M)37,503.7937,503.7937,503.79
(-) Cash Required (M)-11,267.03-7,041.89-4,225.14
(=) Excess Retained (M)26,236.7630,461.8933,278.65
(/) Shares Outstanding (M)11.4111.4111.41
(=) Excess Retained per Share2,298.802,668.992,915.79
LTM Dividend per Share1,649.961,649.961,649.96
(+) Excess Retained per Share2,298.802,668.992,915.79
(=) Adjusted Dividend3,948.754,318.954,565.75
WACC / Discount Rate8.03%8.03%8.03%
Growth Rate3.59%4.59%5.59%
Fair Value$92,172.61$131,395.34$197,756.04
Upside / Downside-28.66%1.70%53.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)56,335.1458,919.6061,622.6264,449.6567,406.3770,498.7372,613.70
Payout Ratio33.43%44.74%56.06%67.37%78.69%90.00%92.50%
Projected Dividends (M)18,831.3626,361.7534,543.4443,420.3453,039.0263,448.8667,167.67

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.03%8.03%8.03%
Growth Rate3.59%4.59%5.59%
Year 1 PV (M)24,169.9524,403.2824,636.61
Year 2 PV (M)29,038.1329,601.4930,170.26
Year 3 PV (M)33,465.5534,444.1335,441.60
Year 4 PV (M)37,480.1938,948.5740,459.67
Year 5 PV (M)41,108.5143,131.4345,233.21
PV of Terminal Value (M)865,954.40908,567.38952,841.67
Equity Value (M)1,031,216.731,079,096.281,128,783.02
Shares Outstanding (M)11.4111.4111.41
Fair Value$90,352.59$94,547.68$98,901.10
Upside / Downside-30.07%-26.82%-23.45%

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