Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

K&S Corporation Limited (KSC.AX)

Company Dividend Discount ModelIndustry: Integrated Freight & LogisticsSector: Industrials

Valuation Snapshot

Stable Growth$2.08 - $2.78$2.44
Multi-Stage$2.74 - $2.97$2.85
Blended Fair Value$2.65
Current Price$3.35
Upside-20.99%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS129.89%13.98%0.160.180.110.010.060.000.010.010.000.01
YoY Growth---11.11%70.08%1,113.07%-84.55%2,165.98%-51.36%-9.43%101.04%-81.04%-65.68%
Dividend Yield--4.75%6.17%4.30%0.50%3.69%0.19%0.28%0.35%0.17%1.12%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)60.42
(-) Cash Dividends Paid (M)46.53
(=) Cash Retained (M)13.89
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)12.087.554.53
Cash Retained (M)13.8913.8913.89
(-) Cash Required (M)-12.08-7.55-4.53
(=) Excess Retained (M)1.816.349.36
(/) Shares Outstanding (M)137.59137.59137.59
(=) Excess Retained per Share0.010.050.07
LTM Dividend per Share0.340.340.34
(+) Excess Retained per Share0.010.050.07
(=) Adjusted Dividend0.350.380.41
WACC / Discount Rate15.31%15.31%15.31%
Growth Rate-1.37%-0.37%0.63%
Fair Value$2.08$2.44$2.78
Upside / Downside-37.99%-27.12%-16.88%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)60.4260.2059.9859.7659.5459.3261.10
Payout Ratio77.01%79.61%82.21%84.80%87.40%90.00%92.50%
Projected Dividends (M)46.5347.9249.3150.6852.0453.3956.52

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate15.31%15.31%15.31%
Growth Rate-1.37%-0.37%0.63%
Year 1 PV (M)41.1441.5641.98
Year 2 PV (M)36.3437.0837.83
Year 3 PV (M)32.0733.0534.06
Year 4 PV (M)28.2729.4330.63
Year 5 PV (M)24.9026.1927.53
PV of Terminal Value (M)214.03225.11236.63
Equity Value (M)376.75392.41408.65
Shares Outstanding (M)137.59137.59137.59
Fair Value$2.74$2.85$2.97
Upside / Downside-18.26%-14.86%-11.34%

High-Yield Dividend Screener

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