Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

KEPCO Engineering & Construction Company, Inc. (052690.KS)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$54,026.03 - $123,356.35$78,702.94
Multi-Stage$70,606.89 - $77,483.70$73,980.22
Blended Fair Value$76,341.58
Current Price$83,800.00
Upside-8.90%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS29.76%2.38%514.96282.98237.98281.98309.98139.99219.98109.99199.98574.95
YoY Growth--81.98%18.91%-15.60%-9.03%121.43%-36.36%100.00%-45.00%-65.22%41.30%
Dividend Yield--0.90%0.43%0.32%0.34%1.38%0.93%0.91%0.35%0.72%1.84%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)103,865.00
(-) Cash Dividends Paid (M)38,005.46
(=) Cash Retained (M)65,859.54
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)20,773.0012,983.137,789.88
Cash Retained (M)65,859.5465,859.5465,859.54
(-) Cash Required (M)-20,773.00-12,983.13-7,789.88
(=) Excess Retained (M)45,086.5452,876.4158,069.66
(/) Shares Outstanding (M)38.0538.0538.05
(=) Excess Retained per Share1,185.041,389.781,526.28
LTM Dividend per Share998.92998.92998.92
(+) Excess Retained per Share1,185.041,389.781,526.28
(=) Adjusted Dividend2,183.962,388.712,525.20
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate2.29%3.29%4.29%
Fair Value$54,026.03$78,702.94$123,356.35
Upside / Downside-35.53%-6.08%47.20%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)103,865.00107,277.36110,801.84114,442.10118,201.97122,085.36125,747.92
Payout Ratio36.59%47.27%57.95%68.64%79.32%90.00%92.50%
Projected Dividends (M)38,005.4650,713.1964,214.9078,549.0493,755.72109,876.82116,316.82

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate2.29%3.29%4.29%
Year 1 PV (M)47,192.3647,653.7348,115.11
Year 2 PV (M)55,607.9956,700.6257,803.87
Year 3 PV (M)63,298.4365,173.1667,084.55
Year 4 PV (M)70,307.3273,097.3675,969.63
Year 5 PV (M)76,676.0180,498.1684,471.23
PV of Terminal Value (M)2,373,262.842,491,565.352,614,539.23
Equity Value (M)2,686,344.942,814,688.382,947,983.63
Shares Outstanding (M)38.0538.0538.05
Fair Value$70,606.89$73,980.22$77,483.70
Upside / Downside-15.74%-11.72%-7.54%

High-Yield Dividend Screener

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