Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Pan Pacific International Holdings Corporation (7532.T)

Company Dividend Discount ModelIndustry: Discount StoresSector: Consumer Defensive

Valuation Snapshot

Stable Growth$555.21 - $1,159.27$783.78
Multi-Stage$410.22 - $447.88$428.71
Blended Fair Value$606.25
Current Price$991.80
Upside-38.87%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS25.00%21.80%6.774.183.583.353.172.221.951.371.161.05
YoY Growth--62.00%16.72%6.98%5.52%42.97%13.61%42.33%18.22%10.13%11.82%
Dividend Yield--0.68%0.57%0.57%0.65%0.68%0.45%0.54%0.48%0.55%0.57%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)90,512.00
(-) Cash Dividends Paid (M)20,297.00
(=) Cash Retained (M)70,215.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18,102.4011,314.006,788.40
Cash Retained (M)70,215.0070,215.0070,215.00
(-) Cash Required (M)-18,102.40-11,314.00-6,788.40
(=) Excess Retained (M)52,112.6058,901.0063,426.60
(/) Shares Outstanding (M)2,997.632,997.632,997.63
(=) Excess Retained per Share17.3819.6521.16
LTM Dividend per Share6.776.776.77
(+) Excess Retained per Share17.3819.6521.16
(=) Adjusted Dividend24.1626.4227.93
WACC / Discount Rate10.09%10.09%10.09%
Growth Rate5.50%6.50%7.50%
Fair Value$555.21$783.78$1,159.27
Upside / Downside-44.02%-20.97%16.89%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)90,512.0096,395.28102,660.97109,333.94116,440.64124,009.28127,729.56
Payout Ratio22.42%35.94%49.45%62.97%76.48%90.00%92.50%
Projected Dividends (M)20,297.0034,644.1950,770.7768,847.4389,059.54111,608.36118,149.85

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.09%10.09%10.09%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)31,173.5031,468.9831,764.47
Year 2 PV (M)41,107.7741,890.7642,681.14
Year 3 PV (M)50,159.4851,599.3853,066.58
Year 4 PV (M)58,384.9560,630.2762,939.74
Year 5 PV (M)65,837.3469,017.3172,318.98
PV of Terminal Value (M)983,024.871,030,505.341,079,802.99
Equity Value (M)1,229,687.911,285,112.041,342,573.89
Shares Outstanding (M)2,997.632,997.632,997.63
Fair Value$410.22$428.71$447.88
Upside / Downside-58.64%-56.77%-54.84%

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