Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

CC Japan Income & Growth Trust plc (CCJI.L)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$4.81 - $7.39$6.01
Multi-Stage$5.75 - $6.31$6.03
Blended Fair Value$6.02
Current Price$1.83
Upside228.80%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS7.10%0.00%0.050.050.050.050.000.040.030.020.010.00
YoY Growth--5.94%6.31%3.28%0.00%-100.00%42.63%39.95%271.99%0.00%0.00%
Dividend Yield--2.99%3.10%3.42%2.97%0.00%2.53%1.74%1.25%0.42%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)68.54
(-) Cash Dividends Paid (M)9.30
(=) Cash Retained (M)59.25
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13.718.575.14
Cash Retained (M)59.2559.2559.25
(-) Cash Required (M)-13.71-8.57-5.14
(=) Excess Retained (M)45.5450.6854.11
(/) Shares Outstanding (M)134.73134.73134.73
(=) Excess Retained per Share0.340.380.40
LTM Dividend per Share0.070.070.07
(+) Excess Retained per Share0.340.380.40
(=) Adjusted Dividend0.410.450.47
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate1.41%2.41%3.41%
Fair Value$4.81$6.01$7.39
Upside / Downside162.66%228.36%303.73%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)68.5470.2071.8973.6375.4077.2279.54
Payout Ratio13.56%28.85%44.14%59.42%74.71%90.00%92.50%
Projected Dividends (M)9.3020.2531.7343.7556.3469.5073.57

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate1.41%2.41%3.41%
Year 1 PV (M)18.2318.4118.59
Year 2 PV (M)25.7126.2226.74
Year 3 PV (M)31.9232.8733.84
Year 4 PV (M)37.0038.4840.00
Year 5 PV (M)41.0943.1545.30
PV of Terminal Value (M)621.37652.62685.11
Equity Value (M)775.32811.76849.59
Shares Outstanding (M)134.73134.73134.73
Fair Value$5.75$6.03$6.31
Upside / Downside214.46%229.24%244.58%

High-Yield Dividend Screener

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