Definitive Analysis
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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Takihyo Co., Ltd. (9982.T)

Company Dividend Discount ModelIndustry: Apparel - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$1,275.94 - $1,849.32$1,554.37
Multi-Stage$3,399.53 - $3,755.47$3,573.90
Blended Fair Value$2,564.13
Current Price$1,737.00
Upside47.62%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-6.21%-3.18%30.2320.6020.6020.7131.3541.6541.7641.7641.6541.76
YoY Growth--46.74%0.00%-0.54%-33.93%-24.73%-0.27%0.00%0.27%-0.27%0.00%
Dividend Yield--1.91%1.84%2.18%2.01%1.73%2.45%2.36%1.78%1.83%1.87%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,607.00
(-) Cash Dividends Paid (M)309.00
(=) Cash Retained (M)1,298.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)321.40200.88120.53
Cash Retained (M)1,298.001,298.001,298.00
(-) Cash Required (M)-321.40-200.88-120.53
(=) Excess Retained (M)976.601,097.131,177.48
(/) Shares Outstanding (M)8.938.938.93
(=) Excess Retained per Share109.33122.83131.82
LTM Dividend per Share34.5934.5934.59
(+) Excess Retained per Share109.33122.83131.82
(=) Adjusted Dividend143.93157.42166.42
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate-4.44%-3.44%-2.44%
Fair Value$1,275.94$1,554.37$1,849.32
Upside / Downside-26.54%-10.51%6.47%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,607.001,551.651,498.221,446.621,396.801,348.691,389.15
Payout Ratio19.23%33.38%47.54%61.69%75.85%90.00%92.50%
Projected Dividends (M)309.00517.98712.21892.441,059.411,213.821,284.96

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate-4.44%-3.44%-2.44%
Year 1 PV (M)482.08487.13492.17
Year 2 PV (M)616.90629.88642.99
Year 3 PV (M)719.43742.25765.55
Year 4 PV (M)794.83828.63863.49
Year 5 PV (M)847.56892.84940.05
PV of Terminal Value (M)26,904.5728,342.1429,840.51
Equity Value (M)30,365.3731,922.8733,544.76
Shares Outstanding (M)8.938.938.93
Fair Value$3,399.53$3,573.90$3,755.47
Upside / Downside95.71%105.75%116.20%

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