Definitive Analysis
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Suzuden Corporation (7480.T)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$1,502.85 - $2,586.24$1,970.15
Multi-Stage$2,725.00 - $2,987.96$2,853.98
Blended Fair Value$2,412.06
Current Price$1,702.00
Upside41.72%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-3.59%14.82%106.60167.66173.7279.2570.04128.0157.8344.7846.9546.46
YoY Growth---36.42%-3.49%119.19%13.16%-45.29%121.37%29.13%-4.63%1.06%73.58%
Dividend Yield--6.06%8.50%7.80%4.16%4.71%10.76%4.26%2.88%3.72%5.21%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,669.33
(-) Cash Dividends Paid (M)1,466.26
(=) Cash Retained (M)203.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)333.87208.67125.20
Cash Retained (M)203.08203.08203.08
(-) Cash Required (M)-333.87-208.67-125.20
(=) Excess Retained (M)-130.79-5.5977.88
(/) Shares Outstanding (M)14.0214.0214.02
(=) Excess Retained per Share-9.33-0.405.55
LTM Dividend per Share104.55104.55104.55
(+) Excess Retained per Share-9.33-0.405.55
(=) Adjusted Dividend95.22104.15110.10
WACC / Discount Rate6.65%6.65%6.65%
Growth Rate0.30%1.30%2.30%
Fair Value$1,502.85$1,970.15$2,586.24
Upside / Downside-11.70%15.75%51.95%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,669.331,691.021,713.001,735.261,757.811,780.651,834.07
Payout Ratio87.83%88.27%88.70%89.13%89.57%90.00%92.50%
Projected Dividends (M)1,466.261,492.631,519.451,546.701,574.411,602.581,696.51

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.65%6.65%6.65%
Growth Rate0.30%1.30%2.30%
Year 1 PV (M)1,385.691,399.501,413.32
Year 2 PV (M)1,309.511,335.751,362.26
Year 3 PV (M)1,237.501,274.881,313.01
Year 4 PV (M)1,169.411,216.751,265.51
Year 5 PV (M)1,105.051,161.251,219.71
PV of Terminal Value (M)32,010.2733,638.1435,331.58
Equity Value (M)38,217.4340,026.2841,905.39
Shares Outstanding (M)14.0214.0214.02
Fair Value$2,725.00$2,853.98$2,987.96
Upside / Downside60.11%67.68%75.56%

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