Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Denyo Co., Ltd. (6517.T)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$40,226.79 - $47,407.93$44,421.69
Multi-Stage$26,673.19 - $29,316.77$27,969.90
Blended Fair Value$36,195.80
Current Price$2,966.00
Upside1,120.36%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS9.36%10.39%73.0653.2450.3249.5948.5146.7148.4232.2533.5632.44
YoY Growth--37.24%5.81%1.47%2.21%3.86%-3.52%50.15%-3.92%3.45%19.35%
Dividend Yield--2.58%1.88%2.44%3.12%2.49%2.45%3.19%1.88%1.72%3.07%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,970.00
(-) Cash Dividends Paid (M)1,071.50
(=) Cash Retained (M)3,898.50
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)994.00621.25372.75
Cash Retained (M)3,898.503,898.503,898.50
(-) Cash Required (M)-994.00-621.25-372.75
(=) Excess Retained (M)2,904.503,277.253,525.75
(/) Shares Outstanding (M)20.5320.5320.53
(=) Excess Retained per Share141.47159.63171.73
LTM Dividend per Share52.1952.1952.19
(+) Excess Retained per Share141.47159.63171.73
(=) Adjusted Dividend193.67211.82223.93
WACC / Discount Rate1.51%1.51%1.51%
Growth Rate3.86%4.86%5.86%
Fair Value$40,226.79$44,421.69$47,407.93
Upside / Downside1,256.26%1,397.70%1,498.38%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,970.005,211.365,464.455,729.826,008.096,299.866,488.86
Payout Ratio21.56%35.25%48.94%62.62%76.31%90.00%92.50%
Projected Dividends (M)1,071.501,836.872,674.063,588.234,584.885,669.886,002.20

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.51%1.51%1.51%
Growth Rate3.86%4.86%5.86%
Year 1 PV (M)1,792.251,809.511,826.76
Year 2 PV (M)2,545.712,594.972,644.70
Year 3 PV (M)3,333.013,430.223,529.30
Year 4 PV (M)4,155.314,317.684,484.76
Year 5 PV (M)5,013.815,259.885,515.53
PV of Terminal Value (M)530,767.17556,816.95583,879.64
Equity Value (M)547,607.26574,229.20601,880.68
Shares Outstanding (M)20.5320.5320.53
Fair Value$26,673.19$27,969.90$29,316.77
Upside / Downside799.30%843.02%888.43%

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