Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hyosung ITX Co. Ltd. (094280.KS)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: Technology

Valuation Snapshot

Stable Growth$17,633.23 - $34,688.82$24,353.94
Multi-Stage$16,370.34 - $17,847.99$17,095.83
Blended Fair Value$20,724.89
Current Price$12,870.00
Upside61.03%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.11%27.79%747.91747.90747.90747.90954.46530.56507.85203.14103.5678.06
YoY Growth--0.00%0.00%0.00%-21.64%79.90%4.47%150.00%96.15%32.68%21.24%
Dividend Yield--6.35%5.89%5.60%4.20%4.73%4.13%4.79%1.64%0.82%0.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)12,589.94
(-) Cash Dividends Paid (M)8,934.83
(=) Cash Retained (M)3,655.11
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,517.991,573.74944.25
Cash Retained (M)3,655.113,655.113,655.11
(-) Cash Required (M)-2,517.99-1,573.74-944.25
(=) Excess Retained (M)1,137.122,081.372,710.87
(/) Shares Outstanding (M)11.9511.9511.95
(=) Excess Retained per Share95.19174.23226.92
LTM Dividend per Share747.91747.91747.91
(+) Excess Retained per Share95.19174.23226.92
(=) Adjusted Dividend843.09922.13974.83
WACC / Discount Rate9.31%9.31%9.31%
Growth Rate4.32%5.32%6.32%
Fair Value$17,633.23$24,353.94$34,688.82
Upside / Downside37.01%89.23%169.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)12,589.9413,259.6113,964.8914,707.7015,490.0116,313.9316,803.35
Payout Ratio70.97%74.77%78.58%82.39%86.19%90.00%92.50%
Projected Dividends (M)8,934.839,914.7910,973.7212,117.2613,351.3914,682.5415,543.10

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.31%9.31%9.31%
Growth Rate4.32%5.32%6.32%
Year 1 PV (M)8,984.489,070.609,156.73
Year 2 PV (M)9,010.999,184.589,359.82
Year 3 PV (M)9,016.389,278.179,544.97
Year 4 PV (M)9,002.529,352.709,713.01
Year 5 PV (M)8,971.149,409.459,864.73
PV of Terminal Value (M)150,581.55157,938.61165,580.46
Equity Value (M)195,567.07204,234.12213,219.72
Shares Outstanding (M)11.9511.9511.95
Fair Value$16,370.34$17,095.83$17,847.99
Upside / Downside27.20%32.83%38.68%

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