Definitive Analysis
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Definitive Analysis

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Ticker

Industry

Sector

DynaColor, Inc. (5489.TWO)

Company Dividend Discount ModelIndustry: Consumer ElectronicsSector: Technology

Valuation Snapshot

Stable Growth$18.68 - $28.94$23.43
Multi-Stage$43.00 - $47.32$45.12
Blended Fair Value$34.28
Current Price$49.90
Upside-31.31%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS-12.68%0.00%1.011.521.001.011.521.990.000.000.000.00
YoY Growth---33.77%52.17%-0.59%-33.64%-23.66%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.58%4.04%2.64%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)199.48
(-) Cash Dividends Paid (M)100.59
(=) Cash Retained (M)98.89
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)39.9024.9414.96
Cash Retained (M)98.8998.8998.89
(-) Cash Required (M)-39.90-24.94-14.96
(=) Excess Retained (M)59.0073.9683.93
(/) Shares Outstanding (M)99.8099.8099.80
(=) Excess Retained per Share0.590.740.84
LTM Dividend per Share1.011.011.01
(+) Excess Retained per Share0.590.740.84
(=) Adjusted Dividend1.601.751.85
WACC / Discount Rate6.39%6.39%6.39%
Growth Rate-2.00%-1.00%0.00%
Fair Value$18.68$23.43$28.94
Upside / Downside-62.56%-53.04%-42.01%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)199.48197.49195.51193.56191.62189.70195.40
Payout Ratio50.42%58.34%66.25%74.17%82.08%90.00%92.50%
Projected Dividends (M)100.59115.21129.54143.56157.29170.73180.74

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.39%6.39%6.39%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)107.20108.29109.39
Year 2 PV (M)112.14114.44116.77
Year 3 PV (M)115.64119.22122.87
Year 4 PV (M)117.89122.78127.81
Year 5 PV (M)119.07125.27131.72
PV of Terminal Value (M)3,718.953,912.604,114.24
Equity Value (M)4,290.894,502.604,722.80
Shares Outstanding (M)99.8099.8099.80
Fair Value$43.00$45.12$47.32
Upside / Downside-13.83%-9.58%-5.16%

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