Definitive Analysis
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Planet Technology Corporation (6263.TWO)

Company Dividend Discount ModelIndustry: Communication EquipmentSector: Technology

Valuation Snapshot

Stable Growth$349.12 - $1,619.87$783.38
Multi-Stage$220.81 - $241.19$230.82
Blended Fair Value$507.10
Current Price$142.50
Upside255.86%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS11.47%0.00%7.366.364.673.984.474.284.283.883.780.00
YoY Growth--15.63%36.17%17.50%-11.11%4.65%0.00%10.26%2.63%0.00%0.00%
Dividend Yield--4.92%4.07%4.19%5.43%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)515.01
(-) Cash Dividends Paid (M)493.76
(=) Cash Retained (M)21.25
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)103.0064.3838.63
Cash Retained (M)21.2521.2521.25
(-) Cash Required (M)-103.00-64.38-38.63
(=) Excess Retained (M)-81.75-43.12-17.37
(/) Shares Outstanding (M)62.8662.8662.86
(=) Excess Retained per Share-1.30-0.69-0.28
LTM Dividend per Share7.857.857.85
(+) Excess Retained per Share-1.30-0.69-0.28
(=) Adjusted Dividend6.557.177.58
WACC / Discount Rate6.84%6.84%6.84%
Growth Rate4.88%5.88%6.88%
Fair Value$349.12$783.38$1,619.87
Upside / Downside145.00%449.74%1,036.75%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)515.01545.27577.31611.23647.14685.17705.72
Payout Ratio95.87%94.70%93.52%92.35%91.17%90.00%92.50%
Projected Dividends (M)493.76516.36539.92564.47590.03616.65652.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.84%6.84%6.84%
Growth Rate4.88%5.88%6.88%
Year 1 PV (M)478.72483.29487.85
Year 2 PV (M)464.07472.96481.94
Year 3 PV (M)449.80462.79476.03
Year 4 PV (M)435.89452.76470.11
Year 5 PV (M)422.35442.87464.19
PV of Terminal Value (M)11,629.7212,194.8512,781.74
Equity Value (M)13,880.5514,509.5215,161.84
Shares Outstanding (M)62.8662.8662.86
Fair Value$220.81$230.82$241.19
Upside / Downside54.96%61.98%69.26%

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