Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Shinyoungwacoal,Inc. (005800.KS)

Company Dividend Discount ModelIndustry: Apparel - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$11,638.57 - $20,072.49$15,271.09
Multi-Stage$21,605.11 - $23,775.66$22,669.31
Blended Fair Value$18,970.20
Current Price$14,180.00
Upside33.78%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%150.13150.13150.13150.13150.13150.13150.13250.21150.13150.13
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%-40.00%66.67%0.00%0.00%
Dividend Yield--1.51%1.60%1.39%1.05%1.54%2.13%1.23%1.84%0.93%1.01%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)8,274.90
(-) Cash Dividends Paid (M)1,350.00
(=) Cash Retained (M)6,924.90
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,654.981,034.36620.62
Cash Retained (M)6,924.906,924.906,924.90
(-) Cash Required (M)-1,654.98-1,034.36-620.62
(=) Excess Retained (M)5,269.925,890.536,304.28
(/) Shares Outstanding (M)8.998.998.99
(=) Excess Retained per Share586.04655.05701.06
LTM Dividend per Share150.13150.13150.13
(+) Excess Retained per Share586.04655.05701.06
(=) Adjusted Dividend736.16805.18851.19
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate0.01%1.01%2.01%
Fair Value$11,638.57$15,271.09$20,072.49
Upside / Downside-17.92%7.69%41.55%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)8,274.908,358.378,442.688,527.848,613.868,700.758,961.77
Payout Ratio16.31%31.05%45.79%60.53%75.26%90.00%92.50%
Projected Dividends (M)1,350.002,595.403,865.795,161.546,483.047,830.678,289.64

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate0.01%1.01%2.01%
Year 1 PV (M)2,416.622,440.792,464.95
Year 2 PV (M)3,351.573,418.933,486.96
Year 3 PV (M)4,166.724,292.964,421.73
Year 4 PV (M)4,873.025,070.875,274.68
Year 5 PV (M)5,480.555,760.096,050.92
PV of Terminal Value (M)173,994.39182,869.06192,102.22
Equity Value (M)194,282.87203,852.70213,801.46
Shares Outstanding (M)8.998.998.99
Fair Value$21,605.11$22,669.31$23,775.66
Upside / Downside52.36%59.87%67.67%

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