Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

RSUPPORT Co., Ltd. (131370.KQ)

Company Dividend Discount ModelIndustry: Software - ApplicationSector: Technology

Valuation Snapshot

Stable Growth$804.85 - $1,554.86$1,104.06
Multi-Stage$804.08 - $880.48$841.57
Blended Fair Value$972.81
Current Price$2,885.00
Upside-66.28%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.01%5.42%10.0420.0840.2130.1620.0510.040.000.000.000.00
YoY Growth---50.00%-50.05%33.33%50.37%99.79%0.00%0.00%0.00%0.00%-100.00%
Dividend Yield--0.35%0.51%0.93%0.48%0.25%0.17%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,588.35
(-) Cash Dividends Paid (M)520.88
(=) Cash Retained (M)2,067.47
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)517.67323.54194.13
Cash Retained (M)2,067.472,067.472,067.47
(-) Cash Required (M)-517.67-323.54-194.13
(=) Excess Retained (M)1,549.801,743.931,873.35
(/) Shares Outstanding (M)51.8751.8751.87
(=) Excess Retained per Share29.8833.6236.12
LTM Dividend per Share10.0410.0410.04
(+) Excess Retained per Share29.8833.6236.12
(=) Adjusted Dividend39.9243.6646.16
WACC / Discount Rate8.55%8.55%8.55%
Growth Rate3.42%4.42%5.42%
Fair Value$804.85$1,104.06$1,554.86
Upside / Downside-72.10%-61.73%-46.11%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,588.352,702.702,822.102,946.773,076.963,212.893,309.28
Payout Ratio20.12%34.10%48.07%62.05%76.02%90.00%92.50%
Projected Dividends (M)520.88921.601,356.711,828.462,339.252,891.603,061.08

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.55%8.55%8.55%
Growth Rate3.42%4.42%5.42%
Year 1 PV (M)840.90849.03857.16
Year 2 PV (M)1,129.511,151.461,173.62
Year 3 PV (M)1,388.971,429.651,471.12
Year 4 PV (M)1,621.381,685.011,750.49
Year 5 PV (M)1,828.731,918.872,012.53
PV of Terminal Value (M)34,899.2136,619.4538,406.87
Equity Value (M)41,708.7143,653.4845,671.80
Shares Outstanding (M)51.8751.8751.87
Fair Value$804.08$841.57$880.48
Upside / Downside-72.13%-70.83%-69.48%

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