Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Pan Pacific International Holdings Corporation (7532.T)

Company Dividend Discount ModelIndustry: Discount StoresSector: Consumer Defensive

Valuation Snapshot

Stable Growth$984.45 - $5,100.49$1,771.14
Multi-Stage$588.33 - $643.41$615.37
Blended Fair Value$1,193.26
Current Price$991.80
Upside20.31%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS25.00%21.80%6.774.183.583.353.172.221.951.371.161.05
YoY Growth--62.00%16.72%6.98%5.52%42.97%13.61%42.33%18.22%10.13%11.82%
Dividend Yield--0.68%0.57%0.57%0.65%0.68%0.45%0.54%0.48%0.55%0.57%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)90,512.00
(-) Cash Dividends Paid (M)20,297.00
(=) Cash Retained (M)70,215.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18,102.4011,314.006,788.40
Cash Retained (M)70,215.0070,215.0070,215.00
(-) Cash Required (M)-18,102.40-11,314.00-6,788.40
(=) Excess Retained (M)52,112.6058,901.0063,426.60
(/) Shares Outstanding (M)2,997.632,997.632,997.63
(=) Excess Retained per Share17.3819.6521.16
LTM Dividend per Share6.776.776.77
(+) Excess Retained per Share17.3819.6521.16
(=) Adjusted Dividend24.1626.4227.93
WACC / Discount Rate8.09%8.09%8.09%
Growth Rate5.50%6.50%7.50%
Fair Value$984.45$1,771.14$5,100.49
Upside / Downside-0.74%78.58%414.27%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)90,512.0096,395.28102,660.97109,333.94116,440.64124,009.28127,729.56
Payout Ratio22.42%35.94%49.45%62.97%76.48%90.00%92.50%
Projected Dividends (M)20,297.0034,644.1950,770.7768,847.4389,059.54111,608.36118,149.85

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.09%8.09%8.09%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)31,750.6932,051.6532,352.60
Year 2 PV (M)42,644.1243,456.3744,276.29
Year 3 PV (M)52,997.5654,518.9356,069.14
Year 4 PV (M)62,830.6265,246.9067,732.22
Year 5 PV (M)72,162.2875,647.7579,266.61
PV of Terminal Value (M)1,501,215.781,573,725.061,649,009.45
Equity Value (M)1,763,601.051,844,646.661,928,706.30
Shares Outstanding (M)2,997.632,997.632,997.63
Fair Value$588.33$615.37$643.41
Upside / Downside-40.68%-37.95%-35.13%

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