Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Planet Technology Corporation (6263.TWO)

Company Dividend Discount ModelIndustry: Communication EquipmentSector: Technology

Valuation Snapshot

Stable Growth$136.31 - $266.17$187.73
Multi-Stage$122.18 - $132.87$127.43
Blended Fair Value$157.58
Current Price$142.50
Upside10.58%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS11.47%0.00%7.366.364.673.984.474.284.283.883.780.00
YoY Growth--15.63%36.17%17.50%-11.11%4.65%0.00%10.26%2.63%0.00%0.00%
Dividend Yield--4.92%4.07%4.19%5.43%0.00%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)515.01
(-) Cash Dividends Paid (M)493.76
(=) Cash Retained (M)21.25
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)103.0064.3838.63
Cash Retained (M)21.2521.2521.25
(-) Cash Required (M)-103.00-64.38-38.63
(=) Excess Retained (M)-81.75-43.12-17.37
(/) Shares Outstanding (M)62.8662.8662.86
(=) Excess Retained per Share-1.30-0.69-0.28
LTM Dividend per Share7.857.857.85
(+) Excess Retained per Share-1.30-0.69-0.28
(=) Adjusted Dividend6.557.177.58
WACC / Discount Rate9.92%9.92%9.92%
Growth Rate4.88%5.88%6.88%
Fair Value$136.31$187.73$266.17
Upside / Downside-4.35%31.74%86.79%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)515.01545.27577.31611.23647.14685.17705.72
Payout Ratio95.87%94.70%93.52%92.35%91.17%90.00%92.50%
Projected Dividends (M)493.76516.36539.92564.47590.03616.65652.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.92%9.92%9.92%
Growth Rate4.88%5.88%6.88%
Year 1 PV (M)465.33469.77474.21
Year 2 PV (M)438.48446.88455.36
Year 3 PV (M)413.11425.04437.19
Year 4 PV (M)389.14404.20419.68
Year 5 PV (M)366.50384.31402.81
PV of Terminal Value (M)5,607.905,880.416,163.41
Equity Value (M)7,680.468,010.608,352.66
Shares Outstanding (M)62.8662.8662.86
Fair Value$122.18$127.43$132.87
Upside / Downside-14.26%-10.57%-6.76%

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