The Discounted Cash Flow (DCF) valuation of SIMPAC Inc (009160.KS) is 4,196.41 KRW. With the latest stock price at 5,200.00 KRW, the upside of SIMPAC Inc based on DCF is -19.3%.
Based on the latest price of 5,200.00 KRW and our DCF valuation, SIMPAC Inc (009160.KS) is a sell. Selling 009160.KS stocks now will result in a potential gain of 19.3%.
Range | Selected | |
WACC / Discount Rate | 5.3% - 7.5% | 6.4% |
Long-term Growth Rate | 1.0% - 3.0% | 2.0% |
Fair Price | 2,271.98 - 9,735.69 | 4,196.41 |
Upside | -56.3% - 87.2% | -19.3% |
(KRW in millions) | Projections | |||||
12-2024 | 12-2025 | 12-2026 | 12-2027 | 12-2028 | 12-2029 | |
Revenue | 785,062 | 864,164 | 931,034 | 971,884 | 1,030,415 | 1,072,581 |
% Growth | 29% | 10% | 8% | 4% | 6% | 4% |
Cost of goods sold | (709,617) | (781,118) | (841,561) | (878,485) | (931,392) | (969,506) |
% of Revenue | 90% | 90% | 90% | 90% | 90% | 90% |
Selling, G&A expenses | (48,541) | (53,432) | (57,567) | (60,093) | (63,712) | (66,319) |
% of Revenue | 6% | 6% | 6% | 6% | 6% | 6% |
Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
% of Revenue | 0% | 0% | 0% | 0% | 0% | 0% |
Net interest & other expenses | 11,048 | 12,161 | 13,102 | 13,677 | 14,500 | 15,094 |
% of Revenue | 1% | 1% | 1% | 1% | 1% | 1% |
Tax expense | (10,496) | (8,511) | (9,170) | (9,572) | (10,148) | (10,564) |
Tax rate | 28% | 20% | 20% | 20% | 20% | 20% |
Net profit | 27,455 | 33,264 | 35,838 | 37,410 | 39,663 | 41,286 |
% Margin | 3% | 4% | 4% | 4% | 4% | 4% |