Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

GS Engineering & Construction Corporation (006360.KS)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$12,362.45 - $30,463.09$18,471.08
Multi-Stage$19,626.35 - $21,528.48$20,559.39
Blended Fair Value$19,515.24
Current Price$20,750.00
Upside-5.95%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-17.15%35.80%381.611,592.131,408.761,420.151,050.29977.85248.198.489.6612.76
YoY Growth---76.03%13.02%-0.80%35.21%7.41%293.99%2,826.47%-12.20%-24.33%-28.64%
Dividend Yield--2.25%10.57%6.82%3.06%2.44%4.77%0.58%0.03%0.03%0.05%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)49,401.52
(-) Cash Dividends Paid (M)45,211.26
(=) Cash Retained (M)4,190.26
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9,880.306,175.193,705.11
Cash Retained (M)4,190.264,190.264,190.26
(-) Cash Required (M)-9,880.30-6,175.19-3,705.11
(=) Excess Retained (M)-5,690.04-1,984.93485.15
(/) Shares Outstanding (M)84.9084.9084.90
(=) Excess Retained per Share-67.02-23.385.71
LTM Dividend per Share532.54532.54532.54
(+) Excess Retained per Share-67.02-23.385.71
(=) Adjusted Dividend465.52509.16538.25
WACC / Discount Rate5.67%5.67%5.67%
Growth Rate1.83%2.83%3.83%
Fair Value$12,362.45$18,471.08$30,463.09
Upside / Downside-40.42%-10.98%46.81%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49,401.5250,802.0052,242.1953,723.2055,246.2056,812.3858,516.75
Payout Ratio91.52%91.21%90.91%90.61%90.30%90.00%92.50%
Projected Dividends (M)45,211.2646,338.7247,493.7748,677.0849,889.3051,131.1454,127.99

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.67%5.67%5.67%
Growth Rate1.83%2.83%3.83%
Year 1 PV (M)43,426.0443,852.4844,278.91
Year 2 PV (M)41,710.8542,534.0643,365.31
Year 3 PV (M)40,062.9641,254.8242,470.09
Year 4 PV (M)38,479.7540,013.6141,592.88
Year 5 PV (M)36,958.6838,809.3140,733.34
PV of Terminal Value (M)1,465,590.111,538,976.431,615,273.49
Equity Value (M)1,666,228.391,745,440.711,827,714.02
Shares Outstanding (M)84.9084.9084.90
Fair Value$19,626.35$20,559.39$21,528.48
Upside / Downside-5.42%-0.92%3.75%

High-Yield Dividend Screener

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