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POSCO STEELEON Co., Ltd. (058430.KS)

Company Dividend Discount ModelIndustry: Manufacturing - Metal FabricationSector: Industrials

Valuation Snapshot

Stable Growth$133,610.94 - $511,138.25$225,593.40
Multi-Stage$122,941.11 - $134,689.69$128,705.96
Blended Fair Value$177,149.68
Current Price$37,050.00
Upside378.14%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS26.39%0.00%1,609.76873.53998.32499.16399.33499.16748.74998.32748.740.00
YoY Growth--84.28%-12.50%100.00%25.00%-20.00%-33.33%-25.00%33.33%0.00%0.00%
Dividend Yield--4.29%1.81%2.42%0.95%1.38%5.20%3.78%3.74%2.63%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)27,976.99
(-) Cash Dividends Paid (M)12,939.67
(=) Cash Retained (M)15,037.32
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5,595.403,497.122,098.27
Cash Retained (M)15,037.3215,037.3215,037.32
(-) Cash Required (M)-5,595.40-3,497.12-2,098.27
(=) Excess Retained (M)9,441.9211,540.1912,939.04
(/) Shares Outstanding (M)6.016.016.01
(=) Excess Retained per Share1,571.011,920.132,152.88
LTM Dividend per Share2,152.992,152.992,152.99
(+) Excess Retained per Share1,571.011,920.132,152.88
(=) Adjusted Dividend3,723.994,073.124,305.87
WACC / Discount Rate6.60%6.60%6.60%
Growth Rate3.71%4.71%5.71%
Fair Value$133,610.94$225,593.40$511,138.25
Upside / Downside260.62%508.89%1,279.59%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)27,976.9929,293.4530,671.8632,115.1433,626.3235,208.6136,264.87
Payout Ratio46.25%55.00%63.75%72.50%81.25%90.00%92.50%
Projected Dividends (M)12,939.6716,111.6619,553.5223,283.6227,321.4631,687.7533,545.01

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.60%6.60%6.60%
Growth Rate3.71%4.71%5.71%
Year 1 PV (M)14,970.3515,114.7015,259.05
Year 2 PV (M)16,881.3717,208.5117,538.78
Year 3 PV (M)18,677.7619,223.2919,779.35
Year 4 PV (M)20,364.3021,161.2021,981.27
Year 5 PV (M)21,945.6523,024.3324,145.01
PV of Terminal Value (M)646,049.77677,804.58710,795.95
Equity Value (M)738,889.21773,536.62809,499.42
Shares Outstanding (M)6.016.016.01
Fair Value$122,941.11$128,705.96$134,689.69
Upside / Downside231.82%247.38%263.53%

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