Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Will Group, Inc. (6089.T)

Company Dividend Discount ModelIndustry: Staffing & Employment ServicesSector: Industrials

Valuation Snapshot

Stable Growth$3,561.68 - $11,850.80$11,105.93
Multi-Stage$1,597.65 - $1,745.55$1,670.26
Blended Fair Value$6,388.09
Current Price$933.00
Upside584.68%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS20.38%32.48%44.1043.9733.8523.5622.2917.4517.3211.218.294.96
YoY Growth--0.30%29.90%43.70%5.68%27.75%0.76%54.47%35.26%67.20%87.18%
Dividend Yield--4.73%4.28%3.07%2.05%2.20%2.58%1.87%1.05%0.87%0.97%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,366.00
(-) Cash Dividends Paid (M)1,018.00
(=) Cash Retained (M)348.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)273.20170.75102.45
Cash Retained (M)348.00348.00348.00
(-) Cash Required (M)-273.20-170.75-102.45
(=) Excess Retained (M)74.80177.25245.55
(/) Shares Outstanding (M)22.9222.9222.92
(=) Excess Retained per Share3.267.7310.71
LTM Dividend per Share44.4144.4144.41
(+) Excess Retained per Share3.267.7310.71
(=) Adjusted Dividend47.6752.1455.12
WACC / Discount Rate6.91%6.91%6.91%
Growth Rate5.50%6.50%7.50%
Fair Value$3,561.68$11,105.93$11,850.80
Upside / Downside281.75%1,090.35%1,170.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,366.001,454.791,549.351,650.061,757.311,871.541,927.68
Payout Ratio74.52%77.62%80.71%83.81%86.90%90.00%92.50%
Projected Dividends (M)1,018.001,129.201,250.551,382.911,527.191,684.381,783.11

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.91%6.91%6.91%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,046.281,056.191,066.11
Year 2 PV (M)1,073.631,094.081,114.72
Year 3 PV (M)1,100.071,131.651,163.83
Year 4 PV (M)1,125.641,168.921,213.45
Year 5 PV (M)1,150.331,205.891,263.58
PV of Terminal Value (M)31,128.0832,631.5834,192.62
Equity Value (M)36,624.0238,288.3240,014.31
Shares Outstanding (M)22.9222.9222.92
Fair Value$1,597.65$1,670.26$1,745.55
Upside / Downside71.24%79.02%87.09%

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