Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Enshu Truck Co.,Ltd. (9057.T)

Company Dividend Discount ModelIndustry: TruckingSector: Industrials

Valuation Snapshot

Stable Growth$6,097.51 - $13,485.50$8,784.92
Multi-Stage$4,507.10 - $4,920.02$4,709.83
Blended Fair Value$6,747.37
Current Price$3,165.00
Upside113.19%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202520242023202220212020
DPS22.64%0.00%93.9693.8386.8779.7754.8833.860.000.000.000.00
YoY Growth--0.14%8.01%8.89%45.37%62.06%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--3.15%3.49%3.56%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,312.00
(-) Cash Dividends Paid (M)718.00
(=) Cash Retained (M)1,594.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)462.40289.00173.40
Cash Retained (M)1,594.001,594.001,594.00
(-) Cash Required (M)-462.40-289.00-173.40
(=) Excess Retained (M)1,131.601,305.001,420.60
(/) Shares Outstanding (M)7.477.477.47
(=) Excess Retained per Share151.46174.67190.14
LTM Dividend per Share96.1096.1096.10
(+) Excess Retained per Share151.46174.67190.14
(=) Adjusted Dividend247.56270.77286.24
WACC / Discount Rate9.70%9.70%9.70%
Growth Rate5.42%6.42%7.42%
Fair Value$6,097.51$8,784.92$13,485.50
Upside / Downside92.65%177.56%326.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,312.002,460.432,618.382,786.472,965.363,155.733,250.40
Payout Ratio31.06%42.84%54.63%66.42%78.21%90.00%92.50%
Projected Dividends (M)718.001,054.151,430.511,850.842,319.242,840.163,006.62

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.70%9.70%9.70%
Growth Rate5.42%6.42%7.42%
Year 1 PV (M)951.91960.94969.97
Year 2 PV (M)1,166.481,188.711,211.16
Year 3 PV (M)1,362.851,402.001,441.90
Year 4 PV (M)1,542.131,601.481,662.53
Year 5 PV (M)1,705.341,787.771,873.36
PV of Terminal Value (M)26,945.0928,247.5629,599.91
Equity Value (M)33,673.8035,188.4736,758.83
Shares Outstanding (M)7.477.477.47
Fair Value$4,507.10$4,709.83$4,920.02
Upside / Downside42.40%48.81%55.45%

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