Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

JVCKENWOOD Corporation (6632.T)

Company Dividend Discount ModelIndustry: Consumer ElectronicsSector: Technology

Valuation Snapshot

Stable Growth$2,858.19 - $7,943.73$4,432.98
Multi-Stage$3,187.02 - $3,498.97$3,340.04
Blended Fair Value$3,886.51
Current Price$1,155.00
Upside236.49%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS21.13%0.00%16.9612.986.485.425.426.505.514.594.594.59
YoY Growth--30.70%100.10%19.66%0.00%-16.68%18.01%20.03%0.00%0.14%0.00%
Dividend Yield--1.47%1.44%1.31%3.06%2.29%3.99%2.15%1.46%1.37%2.19%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)18,220.00
(-) Cash Dividends Paid (M)2,234.00
(=) Cash Retained (M)15,986.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3,644.002,277.501,366.50
Cash Retained (M)15,986.0015,986.0015,986.00
(-) Cash Required (M)-3,644.00-2,277.50-1,366.50
(=) Excess Retained (M)12,342.0013,708.5014,619.50
(/) Shares Outstanding (M)151.13151.13151.13
(=) Excess Retained per Share81.6790.7196.74
LTM Dividend per Share14.7814.7814.78
(+) Excess Retained per Share81.6790.7196.74
(=) Adjusted Dividend96.45105.49111.52
WACC / Discount Rate6.39%6.39%6.39%
Growth Rate2.92%3.92%4.92%
Fair Value$2,858.19$4,432.98$7,943.73
Upside / Downside147.46%283.81%587.77%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)18,220.0018,933.5719,675.0820,445.6321,246.3622,078.4522,740.80
Payout Ratio12.26%27.81%43.36%58.90%74.45%90.00%92.50%
Projected Dividends (M)2,234.005,265.248,530.4712,043.4015,818.3919,870.6021,035.24

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.39%6.39%6.39%
Growth Rate2.92%3.92%4.92%
Year 1 PV (M)4,901.404,949.034,996.65
Year 2 PV (M)7,392.287,536.647,682.39
Year 3 PV (M)9,715.3210,001.2810,292.80
Year 4 PV (M)11,878.8112,347.2812,829.46
Year 5 PV (M)13,890.7114,578.8115,293.91
PV of Terminal Value (M)433,865.78455,357.96477,693.55
Equity Value (M)481,644.31504,770.99528,788.75
Shares Outstanding (M)151.13151.13151.13
Fair Value$3,187.02$3,340.04$3,498.97
Upside / Downside175.93%189.18%202.94%

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