Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

SEED Co.,Ltd. (7743.T)

Company Dividend Discount ModelIndustry: Medical - Instruments & SuppliesSector: Healthcare

Valuation Snapshot

Stable Growth$1,255.35 - $4,281.36$2,060.35
Multi-Stage$814.63 - $890.04$851.65
Blended Fair Value$1,456.00
Current Price$534.00
Upside172.66%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS8.60%7.83%14.999.929.939.929.929.927.587.606.236.34
YoY Growth--51.08%-0.03%0.07%-0.04%-0.01%30.84%-0.17%21.94%-1.64%-10.16%
Dividend Yield--3.23%1.78%1.70%1.93%1.23%1.35%0.66%0.33%0.74%1.60%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,375.51
(-) Cash Dividends Paid (M)453.74
(=) Cash Retained (M)921.77
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)275.10171.94103.16
Cash Retained (M)921.77921.77921.77
(-) Cash Required (M)-275.10-171.94-103.16
(=) Excess Retained (M)646.67749.83818.61
(/) Shares Outstanding (M)30.2730.2730.27
(=) Excess Retained per Share21.3724.7727.05
LTM Dividend per Share14.9914.9914.99
(+) Excess Retained per Share21.3724.7727.05
(=) Adjusted Dividend36.3639.7742.04
WACC / Discount Rate8.56%8.56%8.56%
Growth Rate5.50%6.50%7.50%
Fair Value$1,255.35$2,060.35$4,281.36
Upside / Downside135.08%285.83%701.75%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,375.511,464.921,560.141,661.541,769.541,884.571,941.10
Payout Ratio32.99%44.39%55.79%67.19%78.60%90.00%92.50%
Projected Dividends (M)453.74650.27870.431,116.471,390.821,696.111,795.52

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.56%8.56%8.56%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)593.40599.02604.65
Year 2 PV (M)724.83738.64752.57
Year 3 PV (M)848.40872.75897.57
Year 4 PV (M)964.441,001.521,039.67
Year 5 PV (M)1,073.271,125.111,178.93
PV of Terminal Value (M)20,451.1121,438.9122,464.51
Equity Value (M)24,655.4425,775.9526,937.91
Shares Outstanding (M)30.2730.2730.27
Fair Value$814.63$851.65$890.04
Upside / Downside52.55%59.49%66.68%

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