Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hansae Co., Ltd. (105630.KS)

Company Dividend Discount ModelIndustry: Apparel - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$19,686.34 - $37,980.66$26,992.65
Multi-Stage$31,620.25 - $34,729.43$33,145.12
Blended Fair Value$30,068.88
Current Price$10,430.00
Upside188.29%
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 Rate6.33%6.33%6.33%
Growth Rate1.19%2.19%3.19%
Fair Value$19,686.34$26,992.65$37,980.66
Upside / Downside88.75%158.80%264.15%

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 Rate6.33%6.33%6.33%
Growth Rate1.19%2.19%3.19%
Year 1 PV (M)23,428.8923,660.4223,891.95
Year 2 PV (M)26,758.7227,290.2127,826.92
Year 3 PV (M)29,711.6030,601.1931,508.36
Year 4 PV (M)32,316.2033,612.6934,947.81
Year 5 PV (M)34,599.3136,343.0438,156.37
PV of Terminal Value (M)1,098,446.051,153,805.341,211,374.46
Equity Value (M)1,245,260.761,305,312.881,367,705.88
Shares Outstanding (M)39.3839.3839.38
Fair Value$31,620.25$33,145.12$34,729.43
Upside / Downside203.17%217.79%232.98%

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