Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

DL E&C Co.,Ltd. (375500.KS)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$16,742.20 - $25,906.12$20,991.44
Multi-Stage$37,286.70 - $41,100.75$39,156.01
Blended Fair Value$30,073.72
Current Price$12,510.00
Upside140.40%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS0.00%0.00%0.00774.01777.93260.55162.840.000.000.000.000.00
YoY Growth---100.00%-0.50%198.57%60.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%5.79%2.66%0.75%1.10%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)41,905.68
(-) Cash Dividends Paid (M)7,012.66
(=) Cash Retained (M)34,893.02
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8,381.145,238.213,142.93
Cash Retained (M)34,893.0234,893.0234,893.02
(-) Cash Required (M)-8,381.14-5,238.21-3,142.93
(=) Excess Retained (M)26,511.8829,654.8131,750.09
(/) Shares Outstanding (M)23.3023.3023.30
(=) Excess Retained per Share1,137.671,272.541,362.45
LTM Dividend per Share300.93300.93300.93
(+) Excess Retained per Share1,137.671,272.541,362.45
(=) Adjusted Dividend1,438.601,573.471,663.38
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-2.00%-1.00%0.00%
Fair Value$16,742.20$20,991.44$25,906.12
Upside / Downside33.83%67.80%107.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)41,905.6841,486.6241,071.7640,661.0440,254.4339,851.8841,047.44
Payout Ratio16.73%31.39%46.04%60.69%75.35%90.00%92.50%
Projected Dividends (M)7,012.6613,021.6218,909.7024,678.7130,330.4535,866.7037,968.88

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)12,112.3812,235.9712,359.57
Year 2 PV (M)16,361.1316,696.7417,035.75
Year 3 PV (M)19,861.6620,475.9021,102.67
Year 4 PV (M)22,705.7823,646.8324,616.83
Year 5 PV (M)24,975.4526,275.9827,630.13
PV of Terminal Value (M)772,898.67813,145.30855,051.32
Equity Value (M)868,915.07912,476.71957,796.27
Shares Outstanding (M)23.3023.3023.30
Fair Value$37,286.70$39,156.01$41,100.75
Upside / Downside198.06%213.00%228.54%

High-Yield Dividend Screener

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