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Kginicis Co.,Ltd (035600.KQ)

Company Dividend Discount ModelIndustry: Software - InfrastructureSector: Technology

Valuation Snapshot

Stable Growth$74,080.62 - $381,153.61$150,904.06
Multi-Stage$41,223.43 - $45,075.47$43,114.30
Blended Fair Value$97,009.18
Current Price$10,600.00
Upside815.18%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.99%9.62%565.12545.12400.06495.11441.24422.51259.23246.99186.67241.54
YoY Growth--3.67%36.26%-19.20%12.21%4.43%62.98%4.96%32.32%-22.72%7.08%
Dividend Yield--6.73%4.64%3.15%2.13%2.25%2.25%1.91%1.18%1.63%1.93%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)51,007.50
(-) Cash Dividends Paid (M)17,045.50
(=) Cash Retained (M)33,962.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)10,201.506,375.943,825.56
Cash Retained (M)33,962.0033,962.0033,962.00
(-) Cash Required (M)-10,201.50-6,375.94-3,825.56
(=) Excess Retained (M)23,760.5027,586.0730,136.44
(/) Shares Outstanding (M)26.6126.6126.61
(=) Excess Retained per Share892.771,036.511,132.34
LTM Dividend per Share640.47640.47640.47
(+) Excess Retained per Share892.771,036.511,132.34
(=) Adjusted Dividend1,533.241,676.981,772.81
WACC / Discount Rate7.68%7.68%7.68%
Growth Rate5.50%6.50%7.50%
Fair Value$74,080.62$150,904.06$381,153.61
Upside / Downside598.87%1,323.62%3,495.79%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)51,007.5054,322.9957,853.9961,614.5065,619.4469,884.7071,981.24
Payout Ratio33.42%44.73%56.05%67.37%78.68%90.00%92.50%
Projected Dividends (M)17,045.5024,300.9032,427.4941,507.8751,631.6962,896.2366,582.65

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.68%7.68%7.68%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)22,355.0722,566.9722,778.86
Year 2 PV (M)27,442.3127,965.0028,492.63
Year 3 PV (M)32,314.0433,241.6634,186.86
Year 4 PV (M)36,976.9238,398.9539,861.60
Year 5 PV (M)41,437.4143,438.8545,516.90
PV of Terminal Value (M)936,604.92981,843.291,028,813.04
Equity Value (M)1,097,130.661,147,454.721,199,649.89
Shares Outstanding (M)26.6126.6126.61
Fair Value$41,223.43$43,114.30$45,075.47
Upside / Downside288.90%306.74%325.24%

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