Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Daiwa Office Investment Corporation (8976.T)

Company Dividend Discount ModelIndustry: REIT - OfficeSector: Real Estate

Valuation Snapshot

Stable Growth$300,605.44 - $485,955.36$384,004.94
Multi-Stage$547,837.67 - $601,316.85$574,063.83
Blended Fair Value$479,034.38
Current Price$301,500.00
Upside58.88%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.64%8.17%13,781.1113,781.7314,291.6414,333.6713,827.3012,701.9411,505.4411,235.5110,279.848,068.92
YoY Growth--0.00%-3.57%-0.29%3.66%8.86%10.40%2.40%9.30%27.40%28.39%
Dividend Yield--4.59%4.07%4.22%8.03%9.23%6.18%6.56%8.08%7.10%5.32%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)26,519.68
(-) Cash Dividends Paid (M)16,379.22
(=) Cash Retained (M)10,140.46
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5,303.943,314.961,988.98
Cash Retained (M)10,140.4610,140.4610,140.46
(-) Cash Required (M)-5,303.94-3,314.96-1,988.98
(=) Excess Retained (M)4,836.526,825.508,151.48
(/) Shares Outstanding (M)0.950.950.95
(=) Excess Retained per Share5,086.717,178.588,573.16
LTM Dividend per Share17,226.5117,226.5117,226.51
(+) Excess Retained per Share5,086.717,178.588,573.16
(=) Adjusted Dividend22,313.2324,405.0925,799.67
WACC / Discount Rate7.04%7.04%7.04%
Growth Rate-0.36%0.64%1.64%
Fair Value$300,605.44$384,004.94$485,955.36
Upside / Downside-0.30%27.36%61.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)26,519.6826,690.5426,862.4927,035.5527,209.7227,385.0228,206.57
Payout Ratio61.76%67.41%73.06%78.71%84.35%90.00%92.50%
Projected Dividends (M)16,379.2217,992.0919,625.0621,278.3322,952.0824,646.5226,091.08

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.04%7.04%7.04%
Growth Rate-0.36%0.64%1.64%
Year 1 PV (M)16,641.6516,808.6616,975.67
Year 2 PV (M)16,789.6117,128.2917,470.35
Year 3 PV (M)16,837.6617,349.7017,872.01
Year 4 PV (M)16,798.9117,483.4818,188.77
Year 5 PV (M)16,685.1217,539.3318,428.17
PV of Terminal Value (M)437,139.19459,518.90482,805.95
Equity Value (M)520,892.14545,828.36571,740.93
Shares Outstanding (M)0.950.950.95
Fair Value$547,837.67$574,063.83$601,316.85
Upside / Downside81.70%90.40%99.44%

High-Yield Dividend Screener

« Prev Page 5 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
U11.SIUnited Overseas Bank Limited11.62%$4.1058.46%
9543.SRSaudi Networkers Services Company11.60%$8.7072.96%
0688.HKChina Overseas Land & Investment Limited11.57%$1.4538.43%
0QKP.LPhoenix Mecano AG11.55%$51.5065.02%
601668.SSChina State Construction Engineering Corporation Limited11.55%$0.5954.79%
5983.KLMBM Resources Bhd11.49%$0.6069.77%
601800.SSChina Communications Construction Company Limited11.48%$0.9576.83%
0440.HKDah Sing Financial Holdings Limited11.45%$4.0834.85%
H02.SIHaw Par Corporation Limited11.39%$1.8082.18%
EDV.AXEndeavour Group Limited11.35%$0.4279.74%
102260.KSDongsung Chemical Co., Ltd.11.33%$470.0161.08%
092230.KSKPX Holdings Co.,Ltd.11.32%$8,125.9434.75%
9909.HKPowerlong Commercial Management Holdings Limited11.28%$0.2829.74%
SVR.AXSolvar Limited11.25%$0.2083.01%
HOLCO.ASHolland Colours N.V.11.23%$9.8877.82%
RBN-UN.TOBlue Ribbon Income Fund11.23%$0.9343.10%
0066.HKMTR Corporation Limited11.22%$3.3977.76%
3360.HKFar East Horizon Limited11.17%$0.8944.98%
0934.HKSinopec Kantons Holdings Limited11.16%$0.4758.03%
317400.KSXi S&D Inc.11.16%$481.1664.89%
0146.HKTai Ping Carpets International Limited11.12%$0.2151.92%
096760.KSJW Holdings Corporation11.12%$390.8363.07%
3868.HKXinyi Energy Holdings Limited11.12%$0.1360.32%
BMW3.DEBayerische Motoren Werke AG11.11%$10.5291.60%
1109.HKChina Resources Land Limited11.09%$3.0736.44%
2380.HKChina Power International Development Limited11.08%$0.3656.67%
3900.HKGreentown China Holdings Limited11.07%$0.9398.98%
600016.SSChina Minsheng Banking Corp., Ltd.11.06%$0.4261.11%
BFG.AXBell Financial Group Limited11.06%$0.1590.20%
1571.HKXin Point Holdings Limited11.03%$0.4241.05%
601577.SSBank of Changsha Co., Ltd.11.03%$1.0752.50%
IMMOU.BRImmo Moury SCA11.02%$3.5993.20%
2555.HKSichuan Baicha Baidao Industrial Co., Ltd.11.00%$0.7076.19%
POMO3.SAMarcopolo S.A.10.98%$0.6158.30%
IEL.AXIDP Education Limited10.96%$0.6398.92%
1579.HKYihai International Holding Ltd.10.95%$1.4288.97%
SPTO.JKPT Surya Pertiwi Tbk10.93%$70.5268.08%
TOTG.OLTotens Sparebank10.91%$31.6287.19%
1052.HKYuexiu Transport Infrastructure Limited10.89%$0.5162.60%
601919.SSCOSCO SHIPPING Holdings Co., Ltd.10.89%$1.6567.32%
DETEC.HEDetection Technology Oyj10.89%$1.2399.18%
018500.KSDongwon Metal Co., Ltd.10.86%$150.3024.83%
3799.HKDali Foods Group Company Limited10.86%$0.4172.83%
EBRO.MCEbro Foods, S.A.10.86%$2.0177.79%
023590.KSDaou Technology Inc.10.85%$4,297.7041.75%
0392.HKBeijing Enterprises Holdings Limited10.84%$3.4643.30%
NOVC.DENovo Nordisk A/S10.83%$9.9046.60%
0408.HKYip's Chemical Holdings Limited10.81%$0.2048.65%
4342.SRJadwa Investment - Jadwa Reit Saudi Fund10.80%$1.2085.91%
RIAS-B.CORIAS A/S10.79%$73.9373.44%