Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Daikin Industries,Ltd. (6367.T)

Company Dividend Discount ModelIndustry: ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$15,764.31 - $30,927.07$21,749.68
Multi-Stage$12,149.47 - $13,248.43$12,689.10
Blended Fair Value$17,219.39
Current Price$17,080.00
Upside0.82%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS13.14%16.78%314.62259.64209.77169.76159.44169.71144.72134.71124.62114.55
YoY Growth--21.17%23.78%23.56%6.47%-6.05%17.27%7.43%8.09%8.79%71.74%
Dividend Yield--1.85%1.17%0.72%0.78%0.77%0.98%1.00%1.02%1.09%1.35%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)274,033.00
(-) Cash Dividends Paid (M)96,754.00
(=) Cash Retained (M)177,279.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)54,806.6034,254.1320,552.48
Cash Retained (M)177,279.00177,279.00177,279.00
(-) Cash Required (M)-54,806.60-34,254.13-20,552.48
(=) Excess Retained (M)122,472.40143,024.88156,726.53
(/) Shares Outstanding (M)293.03293.03293.03
(=) Excess Retained per Share417.95488.09534.85
LTM Dividend per Share330.19330.19330.19
(+) Excess Retained per Share417.95488.09534.85
(=) Adjusted Dividend748.14818.28865.04
WACC / Discount Rate10.51%10.51%10.51%
Growth Rate5.50%6.50%7.50%
Fair Value$15,764.31$21,749.68$30,927.07
Upside / Downside-7.70%27.34%81.07%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)274,033.00291,845.15310,815.08331,018.06352,534.23375,448.96386,712.43
Payout Ratio35.31%46.25%57.18%68.12%79.06%90.00%92.50%
Projected Dividends (M)96,754.00134,966.53177,737.91225,499.34278,718.80337,904.06357,709.00

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.51%10.51%10.51%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)120,987.35122,134.15123,280.95
Year 2 PV (M)142,826.18145,546.62148,292.72
Year 3 PV (M)162,437.72167,100.72171,852.12
Year 4 PV (M)179,978.97186,900.45194,019.68
Year 5 PV (M)195,597.27205,044.69214,853.69
PV of Terminal Value (M)2,758,320.702,891,548.623,029,875.49
Equity Value (M)3,560,148.193,718,275.263,882,174.64
Shares Outstanding (M)293.03293.03293.03
Fair Value$12,149.47$12,689.10$13,248.43
Upside / Downside-28.87%-25.71%-22.43%

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