Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Uniforce Technology Corp. (7714.TWO)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: N/A

Valuation Snapshot

Stable Growth$46.18 - $68.05$56.67
Multi-Stage$86.76 - $95.16$90.88
Blended Fair Value$73.77
Current Price$92.50
Upside-20.24%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020
DPS0.00%0.00%2.252.103.430.000.340.000.000.000.000.00
YoY Growth--6.97%-38.72%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.48%1.64%2.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)115.98
(-) Cash Dividends Paid (M)80.45
(=) Cash Retained (M)35.54
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)23.2014.508.70
Cash Retained (M)35.5435.5435.54
(-) Cash Required (M)-23.20-14.50-8.70
(=) Excess Retained (M)12.3421.0426.84
(/) Shares Outstanding (M)19.6319.6319.63
(=) Excess Retained per Share0.631.071.37
LTM Dividend per Share4.104.104.10
(+) Excess Retained per Share0.631.071.37
(=) Adjusted Dividend4.735.175.46
WACC / Discount Rate8.03%8.03%8.03%
Growth Rate-2.00%-1.00%0.00%
Fair Value$46.18$56.67$68.05
Upside / Downside-50.08%-38.73%-26.43%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)115.98114.82113.67112.54111.41110.30113.61
Payout Ratio69.36%73.49%77.62%81.74%85.87%90.00%92.50%
Projected Dividends (M)80.4584.3888.2391.9995.6799.27105.09

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.03%8.03%8.03%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)77.3278.1178.90
Year 2 PV (M)74.0875.6077.13
Year 3 PV (M)70.7872.9675.20
Year 4 PV (M)67.4570.2473.12
Year 5 PV (M)64.1367.4670.94
PV of Terminal Value (M)1,349.491,419.761,492.93
Equity Value (M)1,703.241,784.141,868.23
Shares Outstanding (M)19.6319.6319.63
Fair Value$86.76$90.88$95.16
Upside / Downside-6.21%-1.75%2.88%

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