Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Izumi Co., Ltd. (8273.T)

Company Dividend Discount ModelIndustry: Department StoresSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$1,215.93 - $1,768.92$1,483.71
Multi-Stage$2,545.72 - $2,796.54$2,668.68
Blended Fair Value$2,076.19
Current Price$3,231.00
Upside-35.74%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS2.35%6.90%90.2088.1586.1286.2280.3080.3080.3068.2666.2559.23
YoY Growth--2.32%2.36%-0.11%7.36%0.00%0.00%17.65%3.02%11.85%27.93%
Dividend Yield--2.75%2.61%2.69%3.12%1.96%2.41%1.73%1.01%1.10%1.39%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)11,847.00
(-) Cash Dividends Paid (M)8,049.00
(=) Cash Retained (M)3,798.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,369.401,480.88888.53
Cash Retained (M)3,798.003,798.003,798.00
(-) Cash Required (M)-2,369.40-1,480.88-888.53
(=) Excess Retained (M)1,428.602,317.132,909.48
(/) Shares Outstanding (M)71.3871.3871.38
(=) Excess Retained per Share20.0132.4640.76
LTM Dividend per Share112.77112.77112.77
(+) Excess Retained per Share20.0132.4640.76
(=) Adjusted Dividend132.78145.23153.53
WACC / Discount Rate7.59%7.59%7.59%
Growth Rate-3.00%-2.00%-1.00%
Fair Value$1,215.93$1,483.71$1,768.92
Upside / Downside-62.37%-54.08%-45.25%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)11,847.0011,609.7011,377.1511,149.2510,925.9310,707.0711,028.28
Payout Ratio67.94%72.35%76.76%81.18%85.59%90.00%92.50%
Projected Dividends (M)8,049.008,399.968,733.649,050.579,351.319,636.3610,201.16

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.59%7.59%7.59%
Growth Rate-3.00%-2.00%-1.00%
Year 1 PV (M)7,727.787,807.457,887.12
Year 2 PV (M)7,391.807,545.007,699.77
Year 3 PV (M)7,047.077,267.287,492.04
Year 4 PV (M)6,698.586,979.127,268.38
Year 5 PV (M)6,350.406,684.577,032.66
PV of Terminal Value (M)146,493.02154,201.76162,231.66
Equity Value (M)181,708.65190,485.19199,611.63
Shares Outstanding (M)71.3871.3871.38
Fair Value$2,545.72$2,668.68$2,796.54
Upside / Downside-21.21%-17.40%-13.45%

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