Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Pyung Hwa Holdings Co., Ltd. (010770.KS)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$217,978.44 - $256,976.86$240,750.07
Multi-Stage$130,186.76 - $143,334.74$136,633.84
Blended Fair Value$188,691.95
Current Price$3,750.00
Upside4,931.79%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.77%1.08%149.97145.71144.47144.43144.40144.35144.31196.11148.01112.50
YoY Growth--2.93%0.86%0.03%0.02%0.03%0.03%-26.41%32.49%31.57%-16.46%
Dividend Yield--2.87%4.76%4.22%3.49%3.98%6.01%2.52%2.61%4.25%3.27%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)19,210.53
(-) Cash Dividends Paid (M)2,158.34
(=) Cash Retained (M)17,052.19
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3,842.112,401.321,440.79
Cash Retained (M)17,052.1917,052.1917,052.19
(-) Cash Required (M)-3,842.11-2,401.32-1,440.79
(=) Excess Retained (M)13,210.0814,650.8715,611.40
(/) Shares Outstanding (M)14.3914.3914.39
(=) Excess Retained per Share917.971,018.091,084.84
LTM Dividend per Share149.98149.98149.98
(+) Excess Retained per Share917.971,018.091,084.84
(=) Adjusted Dividend1,067.961,168.081,234.82
WACC / Discount Rate2.20%2.20%2.20%
Growth Rate2.05%3.05%4.05%
Fair Value$217,978.44$240,750.07$256,976.86
Upside / Downside5,712.76%6,320.00%6,752.72%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)19,210.5319,797.2220,401.8321,024.9021,667.0022,328.7022,998.57
Payout Ratio11.24%26.99%42.74%58.49%74.25%90.00%92.50%
Projected Dividends (M)2,158.345,342.918,719.9712,298.3216,087.1020,095.8321,273.67

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.20%2.20%2.20%
Growth Rate2.05%3.05%4.05%
Year 1 PV (M)5,177.335,228.075,278.80
Year 2 PV (M)8,187.898,349.148,511.96
Year 3 PV (M)11,190.0311,522.2111,860.90
Year 4 PV (M)14,183.7814,747.9315,328.76
Year 5 PV (M)17,169.1418,026.9718,918.75
PV of Terminal Value (M)1,817,544.421,908,354.902,002,759.40
Equity Value (M)1,873,452.601,966,229.222,062,658.55
Shares Outstanding (M)14.3914.3914.39
Fair Value$130,186.76$136,633.84$143,334.74
Upside / Downside3,371.65%3,543.57%3,722.26%

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