Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

WITS Corp. (4953.TWO)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: Technology

Valuation Snapshot

Stable Growth$368.88 - $1,150.52$1,078.20
Multi-Stage$159.92 - $174.68$167.16
Blended Fair Value$622.68
Current Price$101.50
Upside513.48%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS28.72%30.60%4.904.514.134.452.881.390.290.640.590.87
YoY Growth--8.51%9.37%-7.29%54.72%107.58%372.22%-53.99%7.37%-31.33%155.00%
Dividend Yield--5.13%3.17%3.57%4.69%2.70%2.13%0.28%2.27%3.08%5.34%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)427.31
(-) Cash Dividends Paid (M)361.72
(=) Cash Retained (M)65.59
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)85.4653.4132.05
Cash Retained (M)65.5965.5965.59
(-) Cash Required (M)-85.46-53.41-32.05
(=) Excess Retained (M)-19.8712.1733.54
(/) Shares Outstanding (M)73.8673.8673.86
(=) Excess Retained per Share-0.270.160.45
LTM Dividend per Share4.904.904.90
(+) Excess Retained per Share-0.270.160.45
(=) Adjusted Dividend4.635.065.35
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate5.50%6.50%7.50%
Fair Value$368.88$1,078.20$1,150.52
Upside / Downside263.43%962.27%1,033.51%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)427.31455.08484.66516.16549.71585.45603.01
Payout Ratio84.65%85.72%86.79%87.86%88.93%90.00%92.50%
Projected Dividends (M)361.72390.10420.64453.50488.86526.90557.78

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)361.75365.18368.61
Year 2 PV (M)361.73368.62375.57
Year 3 PV (M)361.65372.03382.61
Year 4 PV (M)361.52375.42389.72
Year 5 PV (M)361.33378.78396.91
PV of Terminal Value (M)10,003.8410,487.0310,988.72
Equity Value (M)11,811.8212,347.0712,902.13
Shares Outstanding (M)73.8673.8673.86
Fair Value$159.92$167.16$174.68
Upside / Downside57.55%64.69%72.10%

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