Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

KEPCO Plant Service & Engineering Co.,Ltd. (051600.KS)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$50,052.35 - $101,981.57$70,038.65
Multi-Stage$75,966.82 - $83,255.94$79,542.61
Blended Fair Value$74,790.63
Current Price$60,100.00
Upside24.44%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.81%3.57%2,158.001,305.001,199.001,146.001,920.001,790.001,470.00680.001,690.001,670.00
YoY Growth--65.36%8.84%4.62%-40.31%7.26%21.77%116.18%-59.76%1.20%9.87%
Dividend Yield--5.16%3.60%3.17%2.74%6.10%6.16%4.21%1.49%2.71%2.61%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)131,439.21
(-) Cash Dividends Paid (M)111,105.00
(=) Cash Retained (M)20,334.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26,287.8416,429.909,857.94
Cash Retained (M)20,334.2120,334.2120,334.21
(-) Cash Required (M)-26,287.84-16,429.90-9,857.94
(=) Excess Retained (M)-5,953.633,904.3110,476.27
(/) Shares Outstanding (M)45.0045.0045.00
(=) Excess Retained per Share-132.3086.76232.81
LTM Dividend per Share2,469.002,469.002,469.00
(+) Excess Retained per Share-132.3086.76232.81
(=) Adjusted Dividend2,336.702,555.762,701.81
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate1.67%2.67%3.67%
Fair Value$50,052.35$70,038.65$101,981.57
Upside / Downside-16.72%16.54%69.69%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)131,439.21134,953.01138,560.75142,264.94146,068.15149,973.03154,472.22
Payout Ratio84.53%85.62%86.72%87.81%88.91%90.00%92.50%
Projected Dividends (M)111,105.00115,551.70120,156.76124,925.44129,863.22134,975.73142,886.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate1.67%2.67%3.67%
Year 1 PV (M)107,523.32108,580.86109,638.40
Year 2 PV (M)104,040.12106,096.74108,173.49
Year 3 PV (M)100,653.73103,652.95106,711.17
Year 4 PV (M)97,362.45101,249.73105,252.27
Year 5 PV (M)94,164.5298,887.25103,797.60
PV of Terminal Value (M)2,914,762.793,060,949.863,212,944.47
Equity Value (M)3,418,506.933,579,417.403,746,517.40
Shares Outstanding (M)45.0045.0045.00
Fair Value$75,966.82$79,542.61$83,255.94
Upside / Downside26.40%32.35%38.53%

High-Yield Dividend Screener

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