Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

UNIC Technology Corp. (5452.TWO)

Company Dividend Discount ModelIndustry: Chemicals - SpecialtySector: Basic Materials

Valuation Snapshot

Stable Growth$2.29 - $3.36$2.80
Multi-Stage$6.91 - $7.62$7.26
Blended Fair Value$5.03
Current Price$24.80
Upside-79.72%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-5.59%-3.67%0.150.510.810.610.220.200.000.150.200.15
YoY Growth---70.00%-37.50%33.33%172.73%10.00%0.00%-100.00%-25.00%33.33%-31.18%
Dividend Yield--0.56%2.00%4.03%2.90%0.77%3.83%0.00%1.71%2.04%1.17%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)44.55
(-) Cash Dividends Paid (M)22.32
(=) Cash Retained (M)22.23
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8.915.573.34
Cash Retained (M)22.2322.2322.23
(-) Cash Required (M)-8.91-5.57-3.34
(=) Excess Retained (M)13.3216.6618.89
(/) Shares Outstanding (M)147.03147.03147.03
(=) Excess Retained per Share0.090.110.13
LTM Dividend per Share0.150.150.15
(+) Excess Retained per Share0.090.110.13
(=) Adjusted Dividend0.240.270.28
WACC / Discount Rate5.86%5.86%5.86%
Growth Rate-4.29%-3.29%-2.29%
Fair Value$2.29$2.80$3.36
Upside / Downside-90.78%-88.70%-86.45%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)44.5543.0841.6740.3038.9737.6938.82
Payout Ratio50.09%58.07%66.06%74.04%82.02%90.00%92.50%
Projected Dividends (M)22.3225.0227.5229.8431.9733.9235.91

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.86%5.86%5.86%
Growth Rate-4.29%-3.29%-2.29%
Year 1 PV (M)23.3923.6323.88
Year 2 PV (M)24.0524.5625.07
Year 3 PV (M)24.3825.1525.94
Year 4 PV (M)24.4125.4526.52
Year 5 PV (M)24.2225.5126.86
PV of Terminal Value (M)895.23942.99992.76
Equity Value (M)1,015.691,067.291,121.02
Shares Outstanding (M)147.03147.03147.03
Fair Value$6.91$7.26$7.62
Upside / Downside-72.15%-70.73%-69.26%

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