Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Phil Company,Inc. (3267.T)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$570.25 - $882.40$714.99
Multi-Stage$1,269.83 - $1,399.74$1,333.50
Blended Fair Value$1,024.24
Current Price$984.00
Upside4.09%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%5.020.0010.480.015.260.000.000.000.000.00
YoY Growth--117,030.43%-99.96%102,234.55%-99.81%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.63%0.00%0.93%0.00%0.24%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)328.86
(-) Cash Dividends Paid (M)53.86
(=) Cash Retained (M)275.01
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)65.7741.1124.66
Cash Retained (M)275.01275.01275.01
(-) Cash Required (M)-65.77-41.11-24.66
(=) Excess Retained (M)209.23233.90250.34
(/) Shares Outstanding (M)5.375.375.37
(=) Excess Retained per Share38.9643.5646.62
LTM Dividend per Share10.0310.0310.03
(+) Excess Retained per Share38.9643.5646.62
(=) Adjusted Dividend48.9953.5956.65
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-2.00%-1.00%0.00%
Fair Value$570.25$714.99$882.40
Upside / Downside-42.05%-27.34%-10.33%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)328.86325.57322.32319.09315.90312.74322.13
Payout Ratio16.38%31.10%45.83%60.55%75.28%90.00%92.50%
Projected Dividends (M)53.86101.26147.70193.21237.80281.47297.97

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)94.1995.1596.11
Year 2 PV (M)127.80130.42133.07
Year 3 PV (M)155.50160.31165.22
Year 4 PV (M)178.02185.40193.01
Year 5 PV (M)196.01206.21216.84
PV of Terminal Value (M)6,067.186,383.126,712.07
Equity Value (M)6,818.717,160.617,516.32
Shares Outstanding (M)5.375.375.37
Fair Value$1,269.83$1,333.50$1,399.74
Upside / Downside29.05%35.52%42.25%

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