Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

THN Corporation (019180.KS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$473,490.24 - $557,851.73$522,788.77
Multi-Stage$350,764.94 - $385,059.21$367,591.46
Blended Fair Value$445,190.11
Current Price$5,820.00
Upside7,549.31%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.71%6.69%60.0250.0150.0130.0160.0250.0150.0155.0147.107.18
YoY Growth--20.00%0.00%66.67%-50.00%20.00%0.00%-9.09%16.80%555.58%-77.12%
Dividend Yield--2.01%1.39%1.45%0.68%1.89%2.11%2.10%2.46%2.14%0.34%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)50,477.34
(-) Cash Dividends Paid (M)1,080.00
(=) Cash Retained (M)49,397.34
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)10,095.476,309.673,785.80
Cash Retained (M)49,397.3449,397.3449,397.34
(-) Cash Required (M)-10,095.47-6,309.67-3,785.80
(=) Excess Retained (M)39,301.8743,087.6745,611.54
(/) Shares Outstanding (M)18.0018.0018.00
(=) Excess Retained per Share2,184.012,394.392,534.64
LTM Dividend per Share60.0260.0260.02
(+) Excess Retained per Share2,184.012,394.392,534.64
(=) Adjusted Dividend2,244.032,454.412,594.66
WACC / Discount Rate0.45%0.45%0.45%
Growth Rate5.50%6.50%7.50%
Fair Value$473,490.24$522,788.77$557,851.73
Upside / Downside8,035.57%8,882.62%9,485.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)50,477.3453,758.3757,252.6660,974.0964,937.4069,158.3371,233.08
Payout Ratio2.14%19.71%37.28%54.86%72.43%90.00%92.50%
Projected Dividends (M)1,080.0010,596.6721,345.9433,447.8447,032.8162,242.5065,890.60

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate0.45%0.45%0.45%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)10,450.2510,549.3110,648.36
Year 2 PV (M)20,760.1421,155.5721,554.72
Year 3 PV (M)32,080.4733,001.3933,939.76
Year 4 PV (M)44,486.8046,197.6447,957.35
Year 5 PV (M)58,059.7160,864.0163,775.65
PV of Terminal Value (M)6,146,265.326,443,132.236,751,360.94
Equity Value (M)6,312,102.706,614,900.156,929,236.78
Shares Outstanding (M)18.0018.0018.00
Fair Value$350,764.94$367,591.46$385,059.21
Upside / Downside5,926.89%6,216.00%6,516.14%

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