Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sanoh Industrial Co., Ltd. (6584.T)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$879.18 - $1,496.62$1,147.45
Multi-Stage$1,609.72 - $1,769.24$1,687.94
Blended Fair Value$1,417.70
Current Price$927.00
Upside52.93%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS7.04%2.03%28.5725.4225.4224.9112.7120.3325.4224.9124.3823.88
YoY Growth--12.42%0.00%2.02%96.04%-37.50%-20.00%2.02%2.18%2.11%2.15%
Dividend Yield--4.49%2.45%2.96%3.81%1.08%3.02%5.33%3.53%3.07%4.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,561.00
(-) Cash Dividends Paid (M)1,023.00
(=) Cash Retained (M)1,538.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)512.20320.13192.08
Cash Retained (M)1,538.001,538.001,538.00
(-) Cash Required (M)-512.20-320.13-192.08
(=) Excess Retained (M)1,025.801,217.881,345.93
(/) Shares Outstanding (M)35.8035.8035.80
(=) Excess Retained per Share28.6534.0237.59
LTM Dividend per Share28.5728.5728.57
(+) Excess Retained per Share28.6534.0237.59
(=) Adjusted Dividend57.2262.5966.17
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate0.03%1.03%2.03%
Fair Value$879.18$1,147.45$1,496.62
Upside / Downside-5.16%23.78%61.45%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,561.002,587.302,613.872,640.722,667.842,695.232,776.09
Payout Ratio39.95%49.96%59.97%69.98%79.99%90.00%92.50%
Projected Dividends (M)1,023.001,292.521,567.471,847.922,133.982,425.712,567.88

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate0.03%1.03%2.03%
Year 1 PV (M)1,201.201,213.201,225.21
Year 2 PV (M)1,353.791,380.991,408.47
Year 3 PV (M)1,483.251,528.181,574.01
Year 4 PV (M)1,591.831,656.451,723.01
Year 5 PV (M)1,681.601,767.351,856.57
PV of Terminal Value (M)50,320.5152,886.6655,556.44
Equity Value (M)57,632.1760,432.8363,343.71
Shares Outstanding (M)35.8035.8035.80
Fair Value$1,609.72$1,687.94$1,769.24
Upside / Downside73.65%82.09%90.86%

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