Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wonik QnC Corporation (074600.KQ)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$11,325.02 - $18,480.66$14,524.70
Multi-Stage$33,716.52 - $37,220.13$35,433.39
Blended Fair Value$24,979.04
Current Price$23,750.00
Upside5.17%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS0.00%0.00%56.97149.93149.930.005.840.000.000.000.000.00
YoY Growth---62.00%0.00%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.32%0.44%0.59%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)27,432.16
(-) Cash Dividends Paid (M)2,628.80
(=) Cash Retained (M)24,803.36
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5,486.433,429.022,057.41
Cash Retained (M)24,803.3624,803.3624,803.36
(-) Cash Required (M)-5,486.43-3,429.02-2,057.41
(=) Excess Retained (M)19,316.9221,374.3422,745.94
(/) Shares Outstanding (M)26.3026.3026.30
(=) Excess Retained per Share734.47812.70864.85
LTM Dividend per Share99.9599.9599.95
(+) Excess Retained per Share734.47812.70864.85
(=) Adjusted Dividend834.42912.65964.80
WACC / Discount Rate5.22%5.22%5.22%
Growth Rate-2.00%-1.00%0.00%
Fair Value$11,325.02$14,524.70$18,480.66
Upside / Downside-52.32%-38.84%-22.19%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)27,432.1627,157.8326,886.2626,617.3926,351.2226,087.7126,870.34
Payout Ratio9.58%25.67%41.75%57.83%73.92%90.00%92.50%
Projected Dividends (M)2,628.806,970.4211,224.9415,393.6819,477.9223,478.9424,855.06

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.22%5.22%5.22%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)6,557.666,624.586,691.49
Year 2 PV (M)9,934.9210,138.7110,344.57
Year 3 PV (M)12,817.7813,214.1813,618.67
Year 4 PV (M)15,258.1915,890.5716,542.41
Year 5 PV (M)17,303.3018,204.3319,142.50
PV of Terminal Value (M)824,889.60867,843.52912,568.45
Equity Value (M)886,761.46931,915.88978,908.09
Shares Outstanding (M)26.3026.3026.30
Fair Value$33,716.52$35,433.39$37,220.13
Upside / Downside41.96%49.19%56.72%

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