Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Cyber Power Systems, Inc. (3617.TW)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$1,231.14 - $3,356.20$3,145.25
Multi-Stage$475.16 - $519.84$497.09
Blended Fair Value$1,821.17
Current Price$258.50
Upside604.52%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS11.16%8.55%7.684.410.854.614.574.534.274.063.843.61
YoY Growth--74.39%415.75%-81.48%0.93%0.94%6.00%5.26%5.63%6.45%6.66%
Dividend Yield--2.75%1.76%0.70%6.99%5.51%6.50%5.38%4.65%4.13%4.14%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,598.82
(-) Cash Dividends Paid (M)728.07
(=) Cash Retained (M)870.75
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)319.76199.85119.91
Cash Retained (M)870.75870.75870.75
(-) Cash Required (M)-319.76-199.85-119.91
(=) Excess Retained (M)550.99670.90750.84
(/) Shares Outstanding (M)94.7494.7494.74
(=) Excess Retained per Share5.827.087.93
LTM Dividend per Share7.687.687.68
(+) Excess Retained per Share5.827.087.93
(=) Adjusted Dividend13.5014.7715.61
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate5.50%6.50%7.50%
Fair Value$1,231.14$3,145.25$3,356.20
Upside / Downside376.26%1,116.73%1,198.34%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,598.821,702.751,813.431,931.302,056.832,190.532,256.24
Payout Ratio45.54%54.43%63.32%72.22%81.11%90.00%92.50%
Projected Dividends (M)728.07926.811,148.311,394.691,668.251,971.472,087.02

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)860.80868.96877.12
Year 2 PV (M)990.571,009.441,028.49
Year 3 PV (M)1,117.431,149.501,182.19
Year 4 PV (M)1,241.411,289.151,338.26
Year 5 PV (M)1,362.571,428.391,496.72
PV of Terminal Value (M)39,443.9741,349.1343,327.20
Equity Value (M)45,016.7647,094.5849,249.98
Shares Outstanding (M)94.7494.7494.74
Fair Value$475.16$497.09$519.84
Upside / Downside83.82%92.30%101.10%

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