Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sajodaerim Corporation (003960.KS)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$806,300.47 - $1,538,532.75$1,441,830.51
Multi-Stage$235,241.91 - $257,815.10$246,319.80
Blended Fair Value$844,075.15
Current Price$43,000.00
Upside1,862.97%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS31.41%0.00%416.06357.90261.78174.53130.90106.19106.1970.800.00141.58
YoY Growth--16.25%36.72%50.00%33.33%23.27%0.00%49.98%0.00%-100.00%0.00%
Dividend Yield--1.10%1.01%1.04%0.59%0.72%0.87%0.50%0.24%0.00%0.68%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)65,192.79
(-) Cash Dividends Paid (M)2,531.96
(=) Cash Retained (M)62,660.83
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13,038.568,149.104,889.46
Cash Retained (M)62,660.8362,660.8362,660.83
(-) Cash Required (M)-13,038.56-8,149.10-4,889.46
(=) Excess Retained (M)49,622.2754,511.7357,771.37
(/) Shares Outstanding (M)8.438.438.43
(=) Excess Retained per Share5,888.496,468.706,855.51
LTM Dividend per Share300.46300.46300.46
(+) Excess Retained per Share5,888.496,468.706,855.51
(=) Adjusted Dividend6,188.946,769.167,155.97
WACC / Discount Rate6.31%6.31%6.31%
Growth Rate5.50%6.50%7.50%
Fair Value$806,300.47$1,441,830.51$1,538,532.75
Upside / Downside1,775.12%3,253.09%3,477.98%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)65,192.7969,430.3273,943.2978,749.6083,868.3389,319.7791,999.36
Payout Ratio3.88%21.11%38.33%55.55%72.78%90.00%92.50%
Projected Dividends (M)2,531.9614,654.6928,342.6743,748.1861,036.6580,387.7985,099.41

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.31%6.31%6.31%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)13,655.4513,784.8913,914.33
Year 2 PV (M)24,609.3425,078.0825,551.24
Year 3 PV (M)35,395.5636,411.6437,446.98
Year 4 PV (M)46,016.0247,785.6749,605.87
Year 5 PV (M)56,472.6459,200.2962,032.33
PV of Terminal Value (M)1,806,234.581,893,476.391,984,057.14
Equity Value (M)1,982,383.592,075,736.952,172,607.89
Shares Outstanding (M)8.438.438.43
Fair Value$235,241.91$246,319.80$257,815.10
Upside / Downside447.07%472.84%499.57%

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