Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

World Co., Ltd. (3612.T)

Company Dividend Discount ModelIndustry: Department StoresSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$49,205.03 - $58,065.34$54,372.34
Multi-Stage$367,291.59 - $406,590.34$386,541.21
Blended Fair Value$220,456.78
Current Price$2,516.00
Upside8,662.19%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-2.52%0.00%63.7767.2351.960.0323.3072.440.000.000.000.00
YoY Growth---5.16%29.39%185,700.00%-99.88%-67.84%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.53%3.17%3.15%0.00%1.59%4.42%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)11,326.00
(-) Cash Dividends Paid (M)2,719.00
(=) Cash Retained (M)8,607.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,265.201,415.75849.45
Cash Retained (M)8,607.008,607.008,607.00
(-) Cash Required (M)-2,265.20-1,415.75-849.45
(=) Excess Retained (M)6,341.807,191.257,757.55
(/) Shares Outstanding (M)35.7635.7635.76
(=) Excess Retained per Share177.37201.12216.96
LTM Dividend per Share76.0476.0476.04
(+) Excess Retained per Share177.37201.12216.96
(=) Adjusted Dividend253.41277.17293.01
WACC / Discount Rate-40.89%-40.89%-40.89%
Growth Rate-2.91%-1.91%-0.91%
Fair Value$49,205.03$54,372.34$58,065.34
Upside / Downside1,855.68%2,061.06%2,207.84%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)11,326.0011,109.1710,896.4910,687.8810,483.2610,282.5610,591.04
Payout Ratio24.01%37.21%50.40%63.60%76.80%90.00%92.50%
Projected Dividends (M)2,719.004,133.215,492.276,797.788,051.299,254.319,796.71

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-40.89%-40.89%-40.89%
Growth Rate-2.91%-1.91%-0.91%
Year 1 PV (M)6,920.616,991.897,063.17
Year 2 PV (M)15,398.0515,716.8916,039.00
Year 3 PV (M)31,910.8332,907.0833,923.86
Year 4 PV (M)63,283.9465,931.8568,661.99
Year 5 PV (M)121,794.94128,198.05134,867.68
PV of Terminal Value (M)12,893,347.1813,571,187.8514,277,242.24
Equity Value (M)13,132,655.5413,820,933.6114,537,797.95
Shares Outstanding (M)35.7635.7635.76
Fair Value$367,291.59$386,541.21$406,590.34
Upside / Downside14,498.23%15,263.32%16,060.19%

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