Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Direct Marketing MiX Inc. (7354.T)

Company Dividend Discount ModelIndustry: Advertising AgenciesSector: Communication Services

Valuation Snapshot

Stable Growth$327.98 - $560.18$428.66
Multi-Stage$1,341.76 - $1,482.04$1,410.50
Blended Fair Value$919.58
Current Price$310.00
Upside196.64%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS0.00%0.00%2.9517.064.752.140.000.000.000.000.000.00
YoY Growth---82.72%259.12%121.73%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.09%5.45%0.35%0.12%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,265.90
(-) Cash Dividends Paid (M)210.11
(=) Cash Retained (M)1,055.80
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)253.18158.2494.94
Cash Retained (M)1,055.801,055.801,055.80
(-) Cash Required (M)-253.18-158.24-94.94
(=) Excess Retained (M)802.62897.56960.85
(/) Shares Outstanding (M)46.7946.7946.79
(=) Excess Retained per Share17.1619.1820.54
LTM Dividend per Share4.494.494.49
(+) Excess Retained per Share17.1619.1820.54
(=) Adjusted Dividend21.6523.6825.03
WACC / Discount Rate4.47%4.47%4.47%
Growth Rate-2.00%-1.00%0.00%
Fair Value$327.98$428.66$560.18
Upside / Downside5.80%38.28%80.70%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,265.901,253.241,240.711,228.301,216.021,203.861,239.97
Payout Ratio16.60%31.28%45.96%60.64%75.32%90.00%92.50%
Projected Dividends (M)210.11391.99570.21744.83915.901,083.471,146.98

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.47%4.47%4.47%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)371.43375.22379.01
Year 2 PV (M)511.98522.48533.09
Year 3 PV (M)633.70653.29673.29
Year 4 PV (M)738.38768.98800.53
Year 5 PV (M)827.67870.77915.65
PV of Terminal Value (M)59,692.4262,800.7566,037.23
Equity Value (M)62,775.5965,991.5069,338.80
Shares Outstanding (M)46.7946.7946.79
Fair Value$1,341.76$1,410.50$1,482.04
Upside / Downside332.83%355.00%378.08%

High-Yield Dividend Screener

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