Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Elecom Co., Ltd. (6750.T)

Company Dividend Discount ModelIndustry: Computer HardwareSector: Technology

Valuation Snapshot

Stable Growth$1,400.12 - $2,266.82$1,789.61
Multi-Stage$1,577.11 - $1,723.89$1,649.15
Blended Fair Value$1,719.38
Current Price$1,810.00
Upside-5.01%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS7.85%13.33%47.2645.8742.6043.8937.2232.3929.5524.1323.1117.81
YoY Growth--3.04%7.67%-2.94%17.91%14.92%9.63%22.43%4.43%29.78%31.64%
Dividend Yield--2.61%2.82%2.93%2.88%1.79%1.23%1.59%1.86%2.03%1.67%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)9,641.00
(-) Cash Dividends Paid (M)3,664.00
(=) Cash Retained (M)5,977.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,928.201,205.13723.08
Cash Retained (M)5,977.005,977.005,977.00
(-) Cash Required (M)-1,928.20-1,205.13-723.08
(=) Excess Retained (M)4,048.804,771.885,253.93
(/) Shares Outstanding (M)76.7876.7876.78
(=) Excess Retained per Share52.7362.1568.43
LTM Dividend per Share47.7247.7247.72
(+) Excess Retained per Share52.7362.1568.43
(=) Adjusted Dividend100.45109.87116.15
WACC / Discount Rate9.88%9.88%9.88%
Growth Rate2.52%3.52%4.52%
Fair Value$1,400.12$1,789.61$2,266.82
Upside / Downside-22.65%-1.13%25.24%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9,641.009,980.7010,332.3810,696.4411,073.3311,463.5111,807.41
Payout Ratio38.00%48.40%58.80%69.20%79.60%90.00%92.50%
Projected Dividends (M)3,664.004,831.016,075.717,402.128,814.4710,317.1610,921.86

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.88%9.88%9.88%
Growth Rate2.52%3.52%4.52%
Year 1 PV (M)4,354.194,396.664,439.13
Year 2 PV (M)4,935.555,032.305,129.99
Year 3 PV (M)5,419.565,579.705,742.96
Year 4 PV (M)5,816.666,046.946,283.99
Year 5 PV (M)6,136.306,441.466,758.64
PV of Terminal Value (M)94,430.0399,126.03104,007.03
Equity Value (M)121,092.28126,623.09132,361.74
Shares Outstanding (M)76.7876.7876.78
Fair Value$1,577.11$1,649.15$1,723.89
Upside / Downside-12.87%-8.89%-4.76%

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