Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

SK Chemicals Co.,Ltd (285130.KS)

Company Dividend Discount ModelIndustry: Chemicals - SpecialtySector: Basic Materials

Valuation Snapshot

Stable Growth$79,829.87 - $168,820.21$113,221.59
Multi-Stage$109,005.50 - $119,658.48$114,230.90
Blended Fair Value$113,726.24
Current Price$57,900.00
Upside96.42%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS27.27%0.00%916.301,552.323,492.621,358.37312.03274.430.000.000.000.00
YoY Growth---40.97%-55.55%157.12%335.33%13.70%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.33%2.47%4.69%1.00%0.19%0.49%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)85,108.49
(-) Cash Dividends Paid (M)26,990.86
(=) Cash Retained (M)58,117.63
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)17,021.7010,638.566,383.14
Cash Retained (M)58,117.6358,117.6358,117.63
(-) Cash Required (M)-17,021.70-10,638.56-6,383.14
(=) Excess Retained (M)41,095.9347,479.0751,734.49
(/) Shares Outstanding (M)19.2519.2519.25
(=) Excess Retained per Share2,134.882,466.482,687.54
LTM Dividend per Share1,402.141,402.141,402.14
(+) Excess Retained per Share2,134.882,466.482,687.54
(=) Adjusted Dividend3,537.023,868.624,089.68
WACC / Discount Rate6.52%6.52%6.52%
Growth Rate2.00%3.00%4.00%
Fair Value$79,829.87$113,221.59$168,820.21
Upside / Downside37.88%95.55%191.57%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)85,108.4987,665.7190,299.7793,012.9895,807.7198,686.41101,647.00
Payout Ratio31.71%43.37%55.03%66.69%78.34%90.00%92.50%
Projected Dividends (M)26,990.8638,021.3049,690.2462,026.0775,058.3488,817.7694,023.47

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.52%6.52%6.52%
Growth Rate2.00%3.00%4.00%
Year 1 PV (M)35,346.1435,692.6536,039.17
Year 2 PV (M)42,943.8443,789.9744,644.35
Year 3 PV (M)49,833.2351,313.2652,822.31
Year 4 PV (M)56,060.7258,291.6160,588.44
Year 5 PV (M)61,670.0764,752.8367,957.65
PV of Terminal Value (M)1,852,474.611,945,075.962,041,343.99
Equity Value (M)2,098,328.612,198,916.282,303,395.90
Shares Outstanding (M)19.2519.2519.25
Fair Value$109,005.50$114,230.90$119,658.48
Upside / Downside88.27%97.29%106.66%

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