Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Arealink Co., Ltd. (8914.T)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$5,317.49 - $14,056.95$13,173.42
Multi-Stage$2,009.19 - $2,198.27$2,102.00
Blended Fair Value$7,637.71
Current Price$1,211.00
Upside530.69%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS20.41%17.01%28.9517.2011.727.709.9311.439.669.459.408.68
YoY Growth--68.26%46.81%52.15%-22.45%-13.14%18.41%2.16%0.57%8.29%44.22%
Dividend Yield--2.96%2.60%1.99%1.15%1.71%3.26%2.05%0.55%1.27%1.43%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,589.34
(-) Cash Dividends Paid (M)1,609.13
(=) Cash Retained (M)1,980.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)717.87448.67269.20
Cash Retained (M)1,980.211,980.211,980.21
(-) Cash Required (M)-717.87-448.67-269.20
(=) Excess Retained (M)1,262.341,531.541,711.00
(/) Shares Outstanding (M)50.7850.7850.78
(=) Excess Retained per Share24.8630.1633.69
LTM Dividend per Share31.6931.6931.69
(+) Excess Retained per Share24.8630.1633.69
(=) Adjusted Dividend56.5561.8565.38
WACC / Discount Rate6.62%6.62%6.62%
Growth Rate5.50%6.50%7.50%
Fair Value$5,317.49$13,173.42$14,056.95
Upside / Downside339.10%987.81%1,060.77%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,589.343,822.644,071.114,335.744,617.564,917.705,065.23
Payout Ratio44.83%53.86%62.90%71.93%80.97%90.00%92.50%
Projected Dividends (M)1,609.132,059.052,560.673,118.803,738.664,425.934,685.34

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.62%6.62%6.62%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,913.041,931.171,949.31
Year 2 PV (M)2,210.382,252.482,294.98
Year 3 PV (M)2,501.252,573.052,646.21
Year 4 PV (M)2,785.752,892.883,003.07
Year 5 PV (M)3,063.993,211.983,365.64
PV of Terminal Value (M)89,554.9393,880.4798,371.56
Equity Value (M)102,029.34106,742.04111,630.77
Shares Outstanding (M)50.7850.7850.78
Fair Value$2,009.19$2,102.00$2,198.27
Upside / Downside65.91%73.58%81.53%

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