Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Daito Pharmaceutical Co.,Ltd. (4577.T)

Company Dividend Discount ModelIndustry: Drug Manufacturers - Specialty & GenericSector: Healthcare

Valuation Snapshot

Stable Growth$2,232.32 - $7,026.88$3,587.47
Multi-Stage$3,412.75 - $3,753.26$3,579.74
Blended Fair Value$3,583.60
Current Price$1,232.00
Upside190.88%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS14.73%7.91%43.9239.9140.9729.0428.9622.0919.8318.1516.5116.48
YoY Growth--10.03%-2.58%41.06%0.29%31.07%11.39%9.25%9.94%0.18%-19.64%
Dividend Yield--3.56%3.36%3.58%2.40%1.76%1.41%1.42%1.25%1.31%1.77%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,987.00
(-) Cash Dividends Paid (M)232.00
(=) Cash Retained (M)1,755.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)397.40248.38149.03
Cash Retained (M)1,755.001,755.001,755.00
(-) Cash Required (M)-397.40-248.38-149.03
(=) Excess Retained (M)1,357.601,506.631,605.98
(/) Shares Outstanding (M)22.7322.7322.73
(=) Excess Retained per Share59.7466.3070.67
LTM Dividend per Share10.2110.2110.21
(+) Excess Retained per Share59.7466.3070.67
(=) Adjusted Dividend69.9576.5180.88
WACC / Discount Rate5.24%5.24%5.24%
Growth Rate2.05%3.05%4.05%
Fair Value$2,232.32$3,587.47$7,026.88
Upside / Downside81.19%191.19%470.36%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,987.002,047.522,109.882,174.142,240.362,308.602,377.86
Payout Ratio11.68%27.34%43.01%58.67%74.34%90.00%92.50%
Projected Dividends (M)232.00559.81907.371,275.581,665.382,077.742,199.52

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.24%5.24%5.24%
Growth Rate2.05%3.05%4.05%
Year 1 PV (M)526.75531.92537.08
Year 2 PV (M)803.38819.21835.18
Year 3 PV (M)1,062.721,094.271,126.44
Year 4 PV (M)1,305.551,357.481,410.95
Year 5 PV (M)1,532.651,609.231,688.85
PV of Terminal Value (M)72,325.0375,938.9279,695.86
Equity Value (M)77,556.0981,351.0385,294.35
Shares Outstanding (M)22.7322.7322.73
Fair Value$3,412.75$3,579.74$3,753.26
Upside / Downside177.01%190.56%204.65%

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