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Hansae Co., Ltd. (105630.KS)

Company Dividend Discount ModelIndustry: Apparel - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$19,677.90 - $37,954.00$26,978.27
Multi-Stage$31,598.65 - $34,705.62$33,122.44
Blended Fair Value$30,050.35
Current Price$10,430.00
Upside188.11%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.10%12.62%500.01498.19498.19498.19498.19473.47448.37370.18253.92203.14
YoY Growth--0.37%0.00%0.00%0.00%5.22%5.60%21.12%45.78%25.00%33.33%
Dividend Yield--4.49%2.36%3.21%1.87%2.48%5.26%1.58%1.65%1.05%0.36%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)49,259.08
(-) Cash Dividends Paid (M)19,691.42
(=) Cash Retained (M)29,567.66
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9,851.826,157.383,694.43
Cash Retained (M)29,567.6629,567.6629,567.66
(-) Cash Required (M)-9,851.82-6,157.38-3,694.43
(=) Excess Retained (M)19,715.8423,410.2725,873.23
(/) Shares Outstanding (M)39.3839.3839.38
(=) Excess Retained per Share500.63594.44656.99
LTM Dividend per Share500.01500.01500.01
(+) Excess Retained per Share500.63594.44656.99
(=) Adjusted Dividend1,000.651,094.461,157.00
WACC / Discount Rate6.34%6.34%6.34%
Growth Rate1.19%2.19%3.19%
Fair Value$19,677.90$26,978.27$37,954.00
Upside / Downside88.67%158.66%263.89%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49,259.0850,338.3351,441.2252,568.2853,720.0454,897.0356,543.94
Payout Ratio39.98%49.98%59.99%69.99%80.00%90.00%92.50%
Projected Dividends (M)19,691.4225,159.1830,857.0836,792.5942,973.3749,407.3252,303.14

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.34%6.34%6.34%
Growth Rate1.19%2.19%3.19%
Year 1 PV (M)23,428.4023,659.9323,891.46
Year 2 PV (M)26,757.6127,289.0727,825.77
Year 3 PV (M)29,709.7430,599.2831,506.40
Year 4 PV (M)32,313.5133,609.9034,944.91
Year 5 PV (M)34,595.7236,339.2738,152.41
PV of Terminal Value (M)1,097,605.201,152,922.121,210,447.17
Equity Value (M)1,244,410.191,304,419.571,366,768.11
Shares Outstanding (M)39.3839.3839.38
Fair Value$31,598.65$33,122.44$34,705.62
Upside / Downside202.96%217.57%232.75%

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