ֱ 5 4 ѱ 10% ֽ żߴٴ kci Դϴ
ֱ4Ⱓ 25%
(Ʒ 纸 Դϴ)
Ȱǰ (Ǫ,) ̰ ȭ̳ ߵ Ư ⺯ ΰ ʰ ̰
; 縦 2 ü ǰ ϰ ̱ DOW ġ Դϴ.
(POLYQUTA 10% ̻ )
Ȱ : ϸ ش оߺ ľ Ȯ . 2004 ̰ ֱٵ ϴ Դϴ.
: ҷ Ȯ Ը 3ȸ翡 ϰ ִ°Ǹ 1 ǥ մϴ.(60% ǥ)
: ȭǰ ҷ ǹǷ Ǹŷ ̹ϳ, ǸŴ ̷ϴ
()
Ǫ ٵŬ ǰ ʼ μ Ǫ , ȿ, ۿ Ӹ ε巴 ϴ Դϴ. ʱ Ǫ Ӹῡ Ⱑ ǰ Ͽ Ǫ 밨 ʾ ̷ ذǾϴ. Ǫ ٵ Ŭ Ӹ ü ִ ̱ ٱ AMERCHOL( DOW ) 80-90% ϰ 10-12% ϰ
ֽϴ.
() Ȱ
ǰ 뵵 ö ǥ ó, Ȱ , , ô, Ǫ, , ɾ پ ǰ ǰ ֽϴ.
Ȱ ϰ ÷ ϱ 常δ Ͽ ô ߿ϸ 翡 ϴ , ǰ ߱ 뿡 ϰ ֽϴ. Ȱ ǰ Ͽ Ⱓ ϴ ǰ Ǵ Ƿ Ȱǰ ȸ Ҹǰ̹Ƿ ϰ ֽϴ.
()
Һ ʰ ٷο ü 3ľ ǰ ֽϴ. ֱٿ ͷ ü ǰ ִ Ȳ̸, ǰ
1 ǥ ϰ ֽϴ.
(4) űԻ
̿ Ͽ ä ں ̸ ̿
̿ 2 ι ϰ ֽϴ.
̸ غ,
1. ѱǰ ̿ǰ(BD20) ǰ Ϸ
2. ü .Ծ 㰡( 2007 8 27-ڿ)
3. 忡 Ȯ ä(1) .
4. , ڰ Ͽ 2005 -̿ ä ()Ȯ, (), ()÷λ 1- Ͽ ۹п Բ ̿ äǰ ںü ߿ ֽϴ.
ߺ 6% ǰ ֱ Ǽ ڻ þµ Ͻ ں ̶ ں 15% ҽϴ.
ŷ ȸ Ʋٰ ±
밡ġ غ
roe? |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
17% |
547 |
521 |
610 |
713 |
835 |
976 |
PER? |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
10 |
2518 |
3065 |
3586 |
4196 |
4909 |
5743 |
PBR |
||||||
1.4 |
Per 10̰ pbr 1.5 ϸ ֽϴ
5ֽİ= |
9763.8893 |
5ֽİPBR= |
8040.85 |
ŵ6%= |
7733.9148 |
ŵ6%= |
6369.106 |
15% PER |
5582.5354 |
15%PBR= |
4597.382 |
24% PER |
4129.8674 |
24%PBR= |
3401.067 |
ϱ 5000 簡ݵ ŷΰ̳
Ͻ ġ |
ְ*5 /5Ⱓִ հ | |||||
ְ? |
5Ⱓִ հ | |||||
5050 |
3654.853 |
|||||
ְ*5 |
PER |
|||||
25250 |
6.908622 |
|||||
Ͻĸż1 |
3654.853 | |||||
ô ż2 |
7309.706 |
ε ʳ
帧 غ
ν ں ̶ µ κε 25 15 10 ܰ پٰ ߽ϴ.
|
2009 |
2010 |
2011 |
2012 |
2013 |
2014 | |
|
281 |
352 |
439 |
527 |
633 |
759 | |
|
25% |
25% |
25% |
20% |
20% |
20% | |
|
51 |
63 |
79 |
95 |
114 |
137 | |
|
18% |
18% |
18% |
18% |
18% |
18% | |
μ |
12 |
15 |
18 |
22 |
26 |
31 | |
μ |
23% |
23% |
23% |
23% |
23% |
23% | |
Ŀ |
39 |
49 |
61 |
73 |
88 |
105 |
μ 20% µ 23 % ߽ϴ.
2009 |
2010 |
2011 |
2012 |
2013 | ||
ں |
37 |
46 |
57 |
69 |
82 | |
ں/ |
13% |
13% |
13% |
13% |
13% | |
ڻΰ |
244 |
266 |
297 |
335 |
384 | |
|
9% |
9% |
9% |
9% |
9% | |
|
22 |
24 |
27 |
30 |
34 |
ں 13% ҽϴ ߺ ״ 6% ϰ ֱ Ǽڻ 濡 ϰ 13% ߽ϴ (̺κ ణ ں Ұ ƴѵ ξ ġ ̴ϴ.ϴ ں κ ̶ ϴ. ѹ ̾ Ĵ ̴ ں 13% ϸ ϴ.
̷ 10% wacc 7% 䱸 ϴ 10% ߽ϴ. Ӽ 5% ں 10% ߽ϴ.
5050ε ż ġ ΰ ŷǰ ִٰ մϴ. ŵ
б ۼؾѴٰ մϴ ֳϸ ں κ ɸ °ݿ 9000̸ ŵϴ° ϴ ŷ ε ں κ Ұ ϴ. ϴ װ ̴̾ 5 繫 eps bps 10% Ѿ roic 10 ̻̹Ƿ ڸ ̶ ˴ϴ.
10簡ġ |
- 27 |
-6 |
15 |
33 |
53 | |
Ӱġ 簡ġ |
961 |
1057 |
1163 |
1279 |
1407 | |
ڻǰġ |
93 |
93 |
93 |
93 |
93 | |
(аġ) |
16 |
16 |
16 |
16 |
16 | |
äǰġ |
15 |
15 |
15 |
15 |
15 | |
ġ |
1,028 |
1144 |
1271 |
1406 |
1554 | |
ֽļ |
0.110 |
0.11 |
0.11 |
0.11 |
0.11 | |
ִ系簡ġ |
9,347 |
10,404 |
11,557 |
12,780 |
14,129 | |
ǥż |
5,787 |
|||||
25% |
5 6 ݿ ż õ ϴ.
4000 꺠 ż ̱
9000 ŵ
б ġڿȸ(̵) –躴-
ġ ؾ Ѵٰ մϴ. PBR ̳ PER κе 10 ̻ 1.5 ̻
̶ մϴ.
ٸ ̶ Ǵ ˴ϴ