Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

JANOME Corporation (6445.T)

Company Dividend Discount ModelIndustry: Furnishings, Fixtures & AppliancesSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$612.49 - $1,068.29$807.35
Multi-Stage$2,189.38 - $2,416.27$2,300.57
Blended Fair Value$1,553.96
Current Price$1,120.00
Upside38.75%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS20.73%0.00%40.8026.7226.7742.5716.0215.9110.5910.530.000.00
YoY Growth--52.70%-0.21%-37.11%165.74%0.70%50.26%0.53%0.00%0.00%0.00%
Dividend Yield--3.64%3.86%4.35%5.95%2.12%3.50%2.32%1.49%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)867.00
(-) Cash Dividends Paid (M)228.00
(=) Cash Retained (M)639.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)173.40108.3865.03
Cash Retained (M)639.00639.00639.00
(-) Cash Required (M)-173.40-108.38-65.03
(=) Excess Retained (M)465.60530.63573.98
(/) Shares Outstanding (M)18.0418.0418.04
(=) Excess Retained per Share25.8129.4131.82
LTM Dividend per Share12.6412.6412.64
(+) Excess Retained per Share25.8129.4131.82
(=) Adjusted Dividend38.4542.0544.45
WACC / Discount Rate4.64%4.64%4.64%
Growth Rate-1.54%-0.54%0.46%
Fair Value$612.49$807.35$1,068.29
Upside / Downside-45.31%-27.92%-4.62%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)867.00862.29857.61852.95848.32843.71869.02
Payout Ratio26.30%39.04%51.78%64.52%77.26%90.00%92.50%
Projected Dividends (M)228.00336.62444.06550.32655.41759.34803.85

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.64%4.64%4.64%
Growth Rate-1.54%-0.54%0.46%
Year 1 PV (M)318.47321.70324.94
Year 2 PV (M)397.46405.57413.77
Year 3 PV (M)466.00480.35494.98
Year 4 PV (M)525.07546.73569.05
Year 5 PV (M)575.53605.35636.40
PV of Terminal Value (M)37,216.1339,144.8841,152.79
Equity Value (M)39,498.6541,504.5943,591.93
Shares Outstanding (M)18.0418.0418.04
Fair Value$2,189.38$2,300.57$2,416.27
Upside / Downside95.48%105.41%115.74%

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