Definitive Analysis
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Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Unitech Computer Co., Ltd. (2414.TW)

Company Dividend Discount ModelIndustry: Computer HardwareSector: Technology

Valuation Snapshot

Stable Growth$167.37 - $611.46$520.54
Multi-Stage$80.06 - $87.47$83.69
Blended Fair Value$302.12
Current Price$40.50
Upside645.97%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.46%8.20%2.192.672.901.811.511.531.481.381.241.19
YoY Growth---18.12%-7.85%60.32%19.88%-1.19%3.37%7.23%10.82%4.17%20.00%
Dividend Yield--5.69%7.42%8.53%4.90%5.37%7.41%7.17%6.72%6.66%7.21%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)500.56
(-) Cash Dividends Paid (M)355.82
(=) Cash Retained (M)144.74
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)100.1162.5737.54
Cash Retained (M)144.74144.74144.74
(-) Cash Required (M)-100.11-62.57-37.54
(=) Excess Retained (M)44.6382.17107.20
(/) Shares Outstanding (M)162.74162.74162.74
(=) Excess Retained per Share0.270.500.66
LTM Dividend per Share2.192.192.19
(+) Excess Retained per Share0.270.500.66
(=) Adjusted Dividend2.462.692.85
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate5.46%6.46%7.46%
Fair Value$167.37$520.54$611.46
Upside / Downside313.26%1,185.29%1,409.79%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)500.56532.90567.32603.96642.98684.51705.05
Payout Ratio71.08%74.87%78.65%82.43%86.22%90.00%92.50%
Projected Dividends (M)355.82398.96446.20497.87554.36616.06652.17

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate5.46%6.46%7.46%
Year 1 PV (M)369.33372.83376.33
Year 2 PV (M)382.37389.65397.01
Year 3 PV (M)394.95406.30417.85
Year 4 PV (M)407.09422.76438.87
Year 5 PV (M)418.80439.04460.05
PV of Terminal Value (M)11,056.0011,590.2212,144.89
Equity Value (M)13,028.5513,620.7914,235.00
Shares Outstanding (M)162.74162.74162.74
Fair Value$80.06$83.69$87.47
Upside / Downside97.67%106.65%115.97%

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