Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Lasertec Corporation (6920.T)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$43,474.53 - $208,855.20$94,209.51
Multi-Stage$23,309.79 - $25,493.78$24,381.83
Blended Fair Value$59,295.67
Current Price$20,305.00
Upside192.02%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS54.40%44.72%271.81200.85116.9186.9346.9630.9818.9819.9812.7411.49
YoY Growth--35.33%71.80%34.49%85.10%51.61%63.16%-5.00%56.86%10.87%70.39%
Dividend Yield--1.34%0.85%0.50%0.59%0.18%0.36%0.56%1.05%1.10%2.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)94,779.00
(-) Cash Dividends Paid (M)29,672.00
(=) Cash Retained (M)65,107.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18,955.8011,847.387,108.43
Cash Retained (M)65,107.0065,107.0065,107.00
(-) Cash Required (M)-18,955.80-11,847.38-7,108.43
(=) Excess Retained (M)46,151.2053,259.6357,998.58
(/) Shares Outstanding (M)90.2590.2590.25
(=) Excess Retained per Share511.37590.13642.64
LTM Dividend per Share328.78328.78328.78
(+) Excess Retained per Share511.37590.13642.64
(=) Adjusted Dividend840.15918.91971.42
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate5.50%6.50%7.50%
Fair Value$43,474.53$94,209.51$208,855.20
Upside / Downside114.11%363.97%928.59%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)94,779.00100,939.64107,500.71114,488.26121,929.99129,855.44133,751.11
Payout Ratio31.31%43.05%54.78%66.52%78.26%90.00%92.50%
Projected Dividends (M)29,672.0043,449.6858,893.0976,160.5795,424.00116,869.90123,719.77

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)40,024.3540,403.7340,783.10
Year 2 PV (M)49,973.5050,925.3551,886.19
Year 3 PV (M)59,531.0261,239.9462,981.26
Year 4 PV (M)68,708.1871,350.5074,068.31
Year 5 PV (M)77,515.9781,260.0285,147.36
PV of Terminal Value (M)1,807,954.471,895,279.351,985,946.36
Equity Value (M)2,103,707.492,200,458.892,300,812.58
Shares Outstanding (M)90.2590.2590.25
Fair Value$23,309.79$24,381.83$25,493.78
Upside / Downside14.80%20.08%25.55%

High-Yield Dividend Screener

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