Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sun Corporation (6736.T)

Company Dividend Discount ModelIndustry: Consumer ElectronicsSector: Technology

Valuation Snapshot

Stable Growth$8,925.56 - $13,827.39$11,196.65
Multi-Stage$19,844.52 - $21,884.71$20,844.40
Blended Fair Value$16,020.52
Current Price$8,200.00
Upside95.37%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS34.70%24.77%89.9320.3321.5032.230.0020.2820.2420.1720.1715.06
YoY Growth--342.45%-5.47%-33.30%0.00%-100.00%0.22%0.32%0.00%33.99%53.06%
Dividend Yield--1.60%0.42%1.21%2.10%0.00%1.32%1.49%3.08%2.71%2.31%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)21,269.07
(-) Cash Dividends Paid (M)1,556.69
(=) Cash Retained (M)19,712.37
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4,253.812,658.631,595.18
Cash Retained (M)19,712.3719,712.3719,712.37
(-) Cash Required (M)-4,253.81-2,658.63-1,595.18
(=) Excess Retained (M)15,458.5617,053.7418,117.19
(/) Shares Outstanding (M)22.2722.2722.27
(=) Excess Retained per Share694.13765.76813.52
LTM Dividend per Share69.9069.9069.90
(+) Excess Retained per Share694.13765.76813.52
(=) Adjusted Dividend764.03835.66883.42
WACC / Discount Rate6.39%6.39%6.39%
Growth Rate-2.00%-1.00%0.00%
Fair Value$8,925.56$11,196.65$13,827.39
Upside / Downside8.85%36.54%68.63%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)21,269.0721,056.3820,845.8120,637.3520,430.9820,226.6720,833.47
Payout Ratio7.32%23.86%40.39%56.93%73.46%90.00%92.50%
Projected Dividends (M)1,556.695,023.058,419.9211,748.3515,009.3818,204.0019,270.96

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.39%6.39%6.39%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)4,673.714,721.404,769.09
Year 2 PV (M)7,289.497,439.027,590.06
Year 3 PV (M)9,463.709,756.3710,055.02
Year 4 PV (M)11,249.7111,715.9612,196.55
Year 5 PV (M)12,695.2213,356.2914,044.61
PV of Terminal Value (M)396,570.63417,220.98438,722.76
Equity Value (M)441,942.46464,210.02487,378.09
Shares Outstanding (M)22.2722.2722.27
Fair Value$19,844.52$20,844.40$21,884.71
Upside / Downside142.01%154.20%166.89%

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