Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

KEPCO Plant Service & Engineering Co.,Ltd. (051600.KS)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$28,707.38 - $44,631.79$36,065.39
Multi-Stage$37,262.05 - $40,621.54$38,911.12
Blended Fair Value$37,488.25
Current Price$60,100.00
Upside-37.62%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.81%3.57%2,158.001,305.001,199.001,146.001,920.001,790.001,470.00680.001,690.001,670.00
YoY Growth--65.36%8.84%4.62%-40.31%7.26%21.77%116.18%-59.76%1.20%9.87%
Dividend Yield--5.16%3.60%3.17%2.74%6.10%6.16%4.21%1.49%2.71%2.61%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)131,439.21
(-) Cash Dividends Paid (M)111,105.00
(=) Cash Retained (M)20,334.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26,287.8416,429.909,857.94
Cash Retained (M)20,334.2120,334.2120,334.21
(-) Cash Required (M)-26,287.84-16,429.90-9,857.94
(=) Excess Retained (M)-5,953.633,904.3110,476.27
(/) Shares Outstanding (M)45.0045.0045.00
(=) Excess Retained per Share-132.3086.76232.81
LTM Dividend per Share2,469.002,469.002,469.00
(+) Excess Retained per Share-132.3086.76232.81
(=) Adjusted Dividend2,336.702,555.762,701.81
WACC / Discount Rate9.95%9.95%9.95%
Growth Rate1.67%2.67%3.67%
Fair Value$28,707.38$36,065.39$44,631.79
Upside / Downside-52.23%-39.99%-25.74%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)131,439.21134,953.01138,560.75142,264.94146,068.15149,973.03154,472.22
Payout Ratio84.53%85.62%86.72%87.81%88.91%90.00%92.50%
Projected Dividends (M)111,105.00115,551.70120,156.76124,925.44129,863.22134,975.73142,886.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.95%9.95%9.95%
Growth Rate1.67%2.67%3.67%
Year 1 PV (M)104,071.91105,095.50106,119.09
Year 2 PV (M)97,468.1099,394.81101,340.38
Year 3 PV (M)91,268.8193,988.3896,761.45
Year 4 PV (M)85,450.5488,862.2392,375.08
Year 5 PV (M)79,991.0684,002.9488,174.19
PV of Terminal Value (M)1,218,541.731,279,656.501,343,199.16
Equity Value (M)1,676,792.151,751,000.361,827,969.34
Shares Outstanding (M)45.0045.0045.00
Fair Value$37,262.05$38,911.12$40,621.54
Upside / Downside-38.00%-35.26%-32.41%

High-Yield Dividend Screener

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