Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Nippon Sanso Holdings Corporation (4091.T)

Company Dividend Discount ModelIndustry: ChemicalsSector: Basic Materials

Valuation Snapshot

Stable Growth$24,424.57 - $49,166.12$46,075.85
Multi-Stage$7,493.01 - $8,207.07$7,843.46
Blended Fair Value$26,959.65
Current Price$5,247.00
Upside413.81%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS12.20%14.87%48.0040.0035.9932.0028.0027.0024.0022.0018.0014.00
YoY Growth--20.00%11.15%12.46%14.29%3.70%12.50%9.08%22.23%28.58%16.63%
Dividend Yield--0.88%0.84%1.16%1.48%1.23%1.50%1.05%1.39%1.43%1.50%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)107,011.00
(-) Cash Dividends Paid (M)22,078.00
(=) Cash Retained (M)84,933.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21,402.2013,376.388,025.83
Cash Retained (M)84,933.0084,933.0084,933.00
(-) Cash Required (M)-21,402.20-13,376.38-8,025.83
(=) Excess Retained (M)63,530.8071,556.6376,907.18
(/) Shares Outstanding (M)432.86432.86432.86
(=) Excess Retained per Share146.77165.31177.67
LTM Dividend per Share51.0151.0151.01
(+) Excess Retained per Share146.77165.31177.67
(=) Adjusted Dividend197.78216.32228.68
WACC / Discount Rate6.35%6.35%6.35%
Growth Rate5.50%6.50%7.50%
Fair Value$24,424.57$46,075.85$49,166.12
Upside / Downside365.50%778.14%837.03%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)107,011.00113,966.72121,374.55129,263.90137,666.05146,614.34151,012.77
Payout Ratio20.63%34.51%48.38%62.25%76.13%90.00%92.50%
Projected Dividends (M)22,078.0039,324.4658,719.6980,470.15104,800.08131,952.91139,686.82

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.35%6.35%6.35%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)36,627.7936,974.9737,322.15
Year 2 PV (M)50,942.4151,912.7252,892.19
Year 3 PV (M)65,024.7166,891.3468,793.35
Year 4 PV (M)78,877.4981,910.9085,030.97
Year 5 PV (M)92,503.5496,971.49101,610.45
PV of Terminal Value (M)2,919,410.953,060,419.593,206,824.96
Equity Value (M)3,243,386.883,395,081.003,552,474.06
Shares Outstanding (M)432.86432.86432.86
Fair Value$7,493.01$7,843.46$8,207.07
Upside / Downside42.81%49.48%56.41%

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