Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

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

Company Dividend Discount ModelIndustry: Aerospace & DefenseSector: Industrials

Valuation Snapshot

Stable Growth$7,644.74 - $11,762.63$9,561.63
Multi-Stage$16,434.77 - $18,120.31$17,260.86
Blended Fair Value$13,411.24
Current Price$3,635.00
Upside268.95%
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 Rate6.58%6.58%6.58%
Growth Rate-2.00%-1.00%0.00%
Fair Value$7,644.74$9,561.63$11,762.63
Upside / Downside110.31%163.04%223.59%

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 Rate6.58%6.58%6.58%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)568.51574.31580.11
Year 2 PV (M)867.11884.90902.86
Year 3 PV (M)1,113.971,148.421,183.57
Year 4 PV (M)1,315.491,370.011,426.21
Year 5 PV (M)1,477.361,554.281,634.39
PV of Terminal Value (M)43,728.8146,005.8748,376.81
Equity Value (M)49,071.2351,537.7854,103.95
Shares Outstanding (M)2.992.992.99
Fair Value$16,434.77$17,260.86$18,120.31
Upside / Downside352.13%374.85%398.50%

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