Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Tripod Technology Corporation (3044.TW)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$2,922.76 - $3,445.11$3,227.83
Multi-Stage$2,126.24 - $2,338.58$2,230.38
Blended Fair Value$2,729.10
Current Price$247.50
Upside1,002.67%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS4.92%12.79%7.487.436.987.337.235.885.244.243.242.74
YoY Growth--0.67%6.43%-4.76%1.38%22.88%12.38%23.53%30.77%18.18%22.22%
Dividend Yield--3.82%3.62%6.23%5.47%5.15%6.19%5.26%4.44%3.79%4.70%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)9,353.77
(-) Cash Dividends Paid (M)3,942.04
(=) Cash Retained (M)5,411.73
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,870.751,169.22701.53
Cash Retained (M)5,411.735,411.735,411.73
(-) Cash Required (M)-1,870.75-1,169.22-701.53
(=) Excess Retained (M)3,540.974,242.514,710.20
(/) Shares Outstanding (M)526.98526.98526.98
(=) Excess Retained per Share6.728.058.94
LTM Dividend per Share7.487.487.48
(+) Excess Retained per Share6.728.058.94
(=) Adjusted Dividend14.2015.5316.42
WACC / Discount Rate-1.02%-1.02%-1.02%
Growth Rate2.92%3.92%4.92%
Fair Value$2,922.76$3,227.83$3,445.11
Upside / Downside1,080.91%1,204.17%1,291.96%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9,353.779,720.0710,100.7110,496.2610,907.2911,334.4211,674.46
Payout Ratio42.14%51.72%61.29%70.86%80.43%90.00%92.50%
Projected Dividends (M)3,942.045,026.746,190.357,437.398,772.6010,200.9810,798.87

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.02%-1.02%-1.02%
Growth Rate2.92%3.92%4.92%
Year 1 PV (M)5,029.455,078.325,127.19
Year 2 PV (M)6,197.026,318.036,440.22
Year 3 PV (M)7,449.417,668.677,892.20
Year 4 PV (M)8,791.509,138.219,495.08
Year 5 PV (M)10,228.4610,735.1511,261.72
PV of Terminal Value (M)1,082,796.551,136,434.661,192,177.66
Equity Value (M)1,120,492.391,175,373.051,232,394.06
Shares Outstanding (M)526.98526.98526.98
Fair Value$2,126.24$2,230.38$2,338.58
Upside / Downside759.09%801.16%844.88%

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