Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Fuji Electric Co., Ltd. (6504.T)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$96,185.16 - $113,322.41$106,199.70
Multi-Stage$65,718.71 - $72,123.73$68,861.42
Blended Fair Value$87,530.56
Current Price$9,944.00
Upside780.23%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS13.39%14.13%146.53117.22107.4587.9278.1578.1578.1658.6248.8548.86
YoY Growth--25.00%9.09%22.22%12.50%0.00%-0.01%33.33%19.99%-0.01%25.00%
Dividend Yield--2.20%1.28%1.71%1.56%1.51%2.65%2.02%1.39%1.65%2.32%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)83,315.00
(-) Cash Dividends Paid (M)23,259.00
(=) Cash Retained (M)60,056.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)16,663.0010,414.386,248.63
Cash Retained (M)60,056.0060,056.0060,056.00
(-) Cash Required (M)-16,663.00-10,414.38-6,248.63
(=) Excess Retained (M)43,393.0049,641.6353,807.38
(/) Shares Outstanding (M)146.21146.21146.21
(=) Excess Retained per Share296.78339.51368.01
LTM Dividend per Share159.08159.08159.08
(+) Excess Retained per Share296.78339.51368.01
(=) Adjusted Dividend455.85498.59527.08
WACC / Discount Rate2.20%2.20%2.20%
Growth Rate5.50%6.50%7.50%
Fair Value$96,185.16$106,199.70$113,322.41
Upside / Downside867.27%967.98%1,039.61%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)83,315.0088,730.4894,497.96100,640.32107,181.94114,148.77117,573.23
Payout Ratio27.92%40.33%52.75%65.17%77.58%90.00%92.50%
Projected Dividends (M)23,259.0035,788.1549,847.8365,584.0583,155.38102,733.89108,755.24

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.20%2.20%2.20%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)34,690.0935,018.9135,347.73
Year 2 PV (M)46,835.8747,727.9648,628.47
Year 3 PV (M)59,730.5961,445.2463,192.40
Year 4 PV (M)73,409.9876,233.1279,136.92
Year 5 PV (M)87,911.2992,157.4496,566.10
PV of Terminal Value (M)9,306,387.239,755,889.2110,222,594.69
Equity Value (M)9,608,965.0610,068,471.8910,545,466.30
Shares Outstanding (M)146.21146.21146.21
Fair Value$65,718.71$68,861.42$72,123.73
Upside / Downside560.89%592.49%625.30%

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