Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Uniforce Technology Corp. (7714.TWO)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: N/A

Valuation Snapshot

Stable Growth$48.63 - $72.63$60.04
Multi-Stage$96.51 - $105.95$101.14
Blended Fair Value$80.59
Current Price$92.50
Upside-12.88%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020
DPS0.00%0.00%2.252.103.430.000.340.000.000.000.000.00
YoY Growth--6.97%-38.72%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.48%1.64%2.37%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)115.98
(-) Cash Dividends Paid (M)80.45
(=) Cash Retained (M)35.54
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)23.2014.508.70
Cash Retained (M)35.5435.5435.54
(-) Cash Required (M)-23.20-14.50-8.70
(=) Excess Retained (M)12.3421.0426.84
(/) Shares Outstanding (M)19.6319.6319.63
(=) Excess Retained per Share0.631.071.37
LTM Dividend per Share4.104.104.10
(+) Excess Retained per Share0.631.071.37
(=) Adjusted Dividend4.735.175.46
WACC / Discount Rate7.52%7.52%7.52%
Growth Rate-2.00%-1.00%0.00%
Fair Value$48.63$60.04$72.63
Upside / Downside-47.43%-35.10%-21.48%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)115.98114.82113.67112.54111.41110.30113.61
Payout Ratio69.36%73.49%77.62%81.74%85.87%90.00%92.50%
Projected Dividends (M)80.4584.3888.2391.9995.6799.27105.09

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.52%7.52%7.52%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)77.6878.4879.27
Year 2 PV (M)74.7876.3177.86
Year 3 PV (M)71.7874.0076.27
Year 4 PV (M)68.7371.5774.51
Year 5 PV (M)65.6569.0772.63
PV of Terminal Value (M)1,536.151,616.141,699.43
Equity Value (M)1,894.771,985.572,079.96
Shares Outstanding (M)19.6319.6319.63
Fair Value$96.51$101.14$105.95
Upside / Downside4.34%9.34%14.54%

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