Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sumitomo Precision Products Co., Ltd. (6355.T)

Company Dividend Discount ModelIndustry: Aerospace & DefenseSector: Industrials

Valuation Snapshot

Stable Growth$6,979.48 - $10,462.14$8,630.42
Multi-Stage$13,217.03 - $14,561.63$13,876.08
Blended Fair Value$11,253.25
Current Price$3,635.00
Upside209.58%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2022202120202019201820172016201520142013
DPS0.00%0.00%0.000.000.0088.4288.42106.17123.92123.92123.92141.67
YoY Growth--0.00%0.00%-100.00%0.00%-16.72%-14.32%0.00%0.00%-12.53%-15.90%
Dividend Yield--0.00%0.00%0.00%3.17%2.42%3.02%4.02%2.71%2.79%3.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,497.00
(-) Cash Dividends Paid (M)211.00
(=) Cash Retained (M)2,286.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)499.40312.13187.28
Cash Retained (M)2,286.002,286.002,286.00
(-) Cash Required (M)-499.40-312.13-187.28
(=) Excess Retained (M)1,786.601,973.882,098.73
(/) Shares Outstanding (M)2.992.992.99
(=) Excess Retained per Share598.36661.08702.90
LTM Dividend per Share70.6770.6770.67
(+) Excess Retained per Share598.36661.08702.90
(=) Adjusted Dividend669.03731.75773.57
WACC / Discount Rate7.39%7.39%7.39%
Growth Rate-2.00%-1.00%0.00%
Fair Value$6,979.48$8,630.42$10,462.14
Upside / Downside92.01%137.43%187.82%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,497.002,472.032,447.312,422.842,398.612,374.622,445.86
Payout Ratio8.45%24.76%41.07%57.38%73.69%90.00%92.50%
Projected Dividends (M)211.00612.081,005.111,390.231,767.542,137.162,262.42

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.39%7.39%7.39%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)564.18569.94575.69
Year 2 PV (M)853.96871.47889.17
Year 3 PV (M)1,088.731,122.391,156.75
Year 4 PV (M)1,275.891,328.771,383.27
Year 5 PV (M)1,421.981,496.021,573.12
PV of Terminal Value (M)34,258.9336,042.8837,900.37
Equity Value (M)39,463.6641,431.4743,478.38
Shares Outstanding (M)2.992.992.99
Fair Value$13,217.03$13,876.08$14,561.63
Upside / Downside263.60%281.74%300.60%

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