Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wiselink Co., Ltd. (8932.TWO)

Company Dividend Discount ModelIndustry: Apparel - Footwear & AccessoriesSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$193.16 - $709.54$596.02
Multi-Stage$338.72 - $373.31$355.68
Blended Fair Value$475.85
Current Price$204.50
Upside132.69%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-47.62%0.00%0.010.000.000.000.000.170.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.01%0.00%0.00%0.00%0.00%3.45%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)656.46
(-) Cash Dividends Paid (M)47.40
(=) Cash Retained (M)609.06
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)131.2982.0649.23
Cash Retained (M)609.06609.06609.06
(-) Cash Required (M)-131.29-82.06-49.23
(=) Excess Retained (M)477.77527.00559.82
(/) Shares Outstanding (M)176.26176.26176.26
(=) Excess Retained per Share2.712.993.18
LTM Dividend per Share0.270.270.27
(+) Excess Retained per Share2.712.993.18
(=) Adjusted Dividend2.983.263.44
WACC / Discount Rate2.54%2.54%2.54%
Growth Rate0.98%1.98%2.98%
Fair Value$193.16$596.02$709.54
Upside / Downside-5.54%191.45%246.96%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)656.46669.47682.74696.27710.07724.14745.86
Payout Ratio7.22%23.78%40.33%56.89%73.44%90.00%92.50%
Projected Dividends (M)47.40159.18275.37396.10521.50651.73689.92

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.54%2.54%2.54%
Growth Rate0.98%1.98%2.98%
Year 1 PV (M)153.72155.24156.76
Year 2 PV (M)256.79261.90267.06
Year 3 PV (M)356.69367.39378.31
Year 4 PV (M)453.50471.73490.51
Year 5 PV (M)547.29574.93603.67
PV of Terminal Value (M)57,936.3460,862.3763,905.45
Equity Value (M)59,704.3262,693.5665,801.76
Shares Outstanding (M)176.26176.26176.26
Fair Value$338.72$355.68$373.31
Upside / Downside65.63%73.93%82.55%

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