Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

NEC Corporation (6701.T)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: Technology

Valuation Snapshot

Stable Growth$7,823.16 - $34,807.85$18,365.31
Multi-Stage$4,542.28 - $4,976.52$4,755.38
Blended Fair Value$11,560.35
Current Price$4,739.00
Upside143.94%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS13.79%12.85%26.0223.0021.4020.4515.9813.6411.6911.6911.707.78
YoY Growth--13.14%7.48%4.63%28.00%17.16%16.62%0.00%-0.04%50.39%0.10%
Dividend Yield--0.62%0.87%1.54%1.94%1.40%1.32%1.36%1.92%1.96%1.64%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)234,553.00
(-) Cash Dividends Paid (M)37,356.00
(=) Cash Retained (M)197,197.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)46,910.6029,319.1317,591.48
Cash Retained (M)197,197.00197,197.00197,197.00
(-) Cash Required (M)-46,910.60-29,319.13-17,591.48
(=) Excess Retained (M)150,286.40167,877.88179,605.53
(/) Shares Outstanding (M)1,332.711,332.711,332.71
(=) Excess Retained per Share112.77125.97134.77
LTM Dividend per Share28.0328.0328.03
(+) Excess Retained per Share112.77125.97134.77
(=) Adjusted Dividend140.80154.00162.80
WACC / Discount Rate6.79%6.79%6.79%
Growth Rate4.91%5.91%6.91%
Fair Value$7,823.16$18,365.31$34,807.85
Upside / Downside65.08%287.54%634.50%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)234,553.00248,404.67263,074.35278,610.36295,063.86312,489.03321,863.70
Payout Ratio15.93%30.74%45.56%60.37%75.19%90.00%92.50%
Projected Dividends (M)37,356.0076,362.50119,845.83168,198.71221,844.63281,240.13297,723.92

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.79%6.79%6.79%
Growth Rate4.91%5.91%6.91%
Year 1 PV (M)70,829.5871,504.7672,179.93
Year 2 PV (M)103,107.90105,083.00107,076.84
Year 3 PV (M)134,222.77138,097.86142,046.83
Year 4 PV (M)164,205.22170,556.39177,090.03
Year 5 PV (M)193,085.59202,465.54212,206.55
PV of Terminal Value (M)5,388,087.335,649,836.755,921,661.23
Equity Value (M)6,053,538.406,337,544.306,632,261.41
Shares Outstanding (M)1,332.711,332.711,332.71
Fair Value$4,542.28$4,755.38$4,976.52
Upside / Downside-4.15%0.35%5.01%

High-Yield Dividend Screener

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