Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Watami Co., Ltd. (7522.T)

Company Dividend Discount ModelIndustry: RestaurantsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$6,459.33 - $18,872.48$17,686.27
Multi-Stage$2,570.16 - $2,813.83$2,689.75
Blended Fair Value$10,188.01
Current Price$960.00
Upside961.25%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS24.54%8.82%21.9119.419.110.022.477.317.264.899.780.15
YoY Growth--12.85%113.15%36,400.00%-98.99%-66.21%0.69%48.47%-50.00%6,433.33%-98.41%
Dividend Yield--2.14%2.07%1.01%0.00%0.27%0.77%0.50%0.34%0.73%0.01%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,803.00
(-) Cash Dividends Paid (M)910.00
(=) Cash Retained (M)2,893.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)760.60475.38285.23
Cash Retained (M)2,893.002,893.002,893.00
(-) Cash Required (M)-760.60-475.38-285.23
(=) Excess Retained (M)2,132.402,417.632,607.78
(/) Shares Outstanding (M)40.0840.0840.08
(=) Excess Retained per Share53.2160.3365.07
LTM Dividend per Share22.7122.7122.71
(+) Excess Retained per Share53.2160.3365.07
(=) Adjusted Dividend75.9283.0387.78
WACC / Discount Rate6.74%6.74%6.74%
Growth Rate5.50%6.50%7.50%
Fair Value$6,459.33$17,686.27$18,872.48
Upside / Downside572.85%1,742.32%1,865.88%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,803.004,050.204,313.464,593.834,892.435,210.445,366.75
Payout Ratio23.93%37.14%50.36%63.57%76.79%90.00%92.50%
Projected Dividends (M)910.001,504.362,172.132,920.363,756.694,689.404,964.25

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.74%6.74%6.74%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,396.131,409.361,422.60
Year 2 PV (M)1,870.851,906.481,942.45
Year 3 PV (M)2,334.342,401.352,469.63
Year 4 PV (M)2,786.822,893.993,004.23
Year 5 PV (M)3,228.473,384.403,546.31
PV of Terminal Value (M)91,383.3495,797.19100,379.96
Equity Value (M)102,999.94107,792.78112,765.18
Shares Outstanding (M)40.0840.0840.08
Fair Value$2,570.16$2,689.75$2,813.83
Upside / Downside167.72%180.18%193.11%

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