Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Motrex Co., Ltd (118990.KQ)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$116,421.07 - $137,183.85$128,552.03
Multi-Stage$79,671.76 - $87,493.11$83,508.87
Blended Fair Value$106,030.45
Current Price$8,120.00
Upside1,205.79%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS22.67%0.00%162.40242.970.0058.4658.4658.460.000.000.000.00
YoY Growth---33.16%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.88%1.75%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)17,192.92
(-) Cash Dividends Paid (M)6,133.46
(=) Cash Retained (M)11,059.46
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3,438.582,149.121,289.47
Cash Retained (M)11,059.4611,059.4611,059.46
(-) Cash Required (M)-3,438.58-2,149.12-1,289.47
(=) Excess Retained (M)7,620.888,910.359,770.00
(/) Shares Outstanding (M)24.7324.7324.73
(=) Excess Retained per Share308.12360.26395.01
LTM Dividend per Share247.98247.98247.98
(+) Excess Retained per Share308.12360.26395.01
(=) Adjusted Dividend556.11608.24643.00
WACC / Discount Rate1.56%1.56%1.56%
Growth Rate4.68%5.68%6.68%
Fair Value$116,421.07$128,552.03$137,183.85
Upside / Downside1,333.76%1,483.15%1,589.46%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)17,192.9218,168.6319,199.7020,289.2921,440.7222,657.4923,337.21
Payout Ratio35.67%46.54%57.40%68.27%79.13%90.00%92.50%
Projected Dividends (M)6,133.468,455.5811,021.5113,851.4416,967.0820,391.7421,586.92

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.56%1.56%1.56%
Growth Rate4.68%5.68%6.68%
Year 1 PV (M)8,247.298,326.088,404.87
Year 2 PV (M)10,485.2210,686.5110,889.72
Year 3 PV (M)12,852.8513,224.7513,603.75
Year 4 PV (M)15,356.0615,951.3316,563.75
Year 5 PV (M)18,000.9418,877.3719,787.62
PV of Terminal Value (M)1,905,599.231,998,379.642,094,739.22
Equity Value (M)1,970,541.602,065,445.692,163,988.93
Shares Outstanding (M)24.7324.7324.73
Fair Value$79,671.76$83,508.87$87,493.11
Upside / Downside881.18%928.43%977.50%

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