Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Samjin Pharmaceuticals Co., Ltd. (005500.KS)

Company Dividend Discount ModelIndustry: Drug Manufacturers - Specialty & GenericSector: Healthcare

Valuation Snapshot

Stable Growth$67,288.88 - $310,885.20$151,733.09
Multi-Stage$77,427.26 - $85,035.83$81,159.38
Blended Fair Value$116,446.24
Current Price$18,810.00
Upside519.07%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.76%7.45%828.68858.26798.05798.05798.05798.05798.05706.81605.84504.86
YoY Growth---3.45%7.54%0.00%0.00%0.00%0.00%12.91%16.67%20.00%25.00%
Dividend Yield--4.70%4.23%3.76%3.16%3.28%3.57%2.03%1.64%1.87%1.97%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)19,743.13
(-) Cash Dividends Paid (M)9,806.17
(=) Cash Retained (M)9,936.96
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3,948.632,467.891,480.73
Cash Retained (M)9,936.969,936.969,936.96
(-) Cash Required (M)-3,948.63-2,467.89-1,480.73
(=) Excess Retained (M)5,988.337,469.078,456.23
(/) Shares Outstanding (M)12.3312.3312.33
(=) Excess Retained per Share485.56605.63685.67
LTM Dividend per Share795.13795.13795.13
(+) Excess Retained per Share485.56605.63685.67
(=) Adjusted Dividend1,280.701,400.761,480.80
WACC / Discount Rate4.93%4.93%4.93%
Growth Rate2.97%3.97%4.97%
Fair Value$67,288.88$151,733.09$310,885.20
Upside / Downside257.73%706.66%1,552.77%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)19,743.1320,527.2721,342.5522,190.2123,071.5423,987.8724,707.50
Payout Ratio49.67%57.74%65.80%73.87%81.93%90.00%92.50%
Projected Dividends (M)9,806.1711,851.4214,043.6716,391.3518,903.3821,589.0822,854.44

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.93%4.93%4.93%
Growth Rate2.97%3.97%4.97%
Year 1 PV (M)11,185.8011,294.4311,403.06
Year 2 PV (M)12,510.4812,754.6513,001.18
Year 3 PV (M)13,781.7714,187.2014,600.51
Year 4 PV (M)15,001.2115,592.4816,201.07
Year 5 PV (M)16,170.2916,970.8717,802.85
PV of Terminal Value (M)886,241.52930,118.76975,716.91
Equity Value (M)954,891.071,000,918.401,048,725.58
Shares Outstanding (M)12.3312.3312.33
Fair Value$77,427.26$81,159.38$85,035.83
Upside / Downside311.63%331.47%352.08%

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