Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

3s Silicon Tech., Inc. (5297.TWO)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$16.26 - $25.94$20.65
Multi-Stage$31.62 - $34.73$33.15
Blended Fair Value$26.90
Current Price$38.45
Upside-30.04%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-1.06%0.00%0.630.330.000.200.330.660.000.000.000.00
YoY Growth--89.65%0.00%-100.00%-40.00%-50.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.19%2.10%0.00%1.62%3.55%6.78%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)55.79
(-) Cash Dividends Paid (M)34.05
(=) Cash Retained (M)21.75
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)11.166.974.18
Cash Retained (M)21.7521.7521.75
(-) Cash Required (M)-11.16-6.97-4.18
(=) Excess Retained (M)10.5914.7717.56
(/) Shares Outstanding (M)35.4835.4835.48
(=) Excess Retained per Share0.300.420.50
LTM Dividend per Share0.960.960.96
(+) Excess Retained per Share0.300.420.50
(=) Adjusted Dividend1.261.381.45
WACC / Discount Rate6.86%6.86%6.86%
Growth Rate-0.81%0.19%1.19%
Fair Value$16.26$20.65$25.94
Upside / Downside-57.71%-46.28%-32.54%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)55.7955.9056.0056.1156.2156.3258.01
Payout Ratio61.02%66.82%72.61%78.41%84.20%90.00%92.50%
Projected Dividends (M)34.0537.3540.6643.9947.3350.6953.66

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.86%6.86%6.86%
Growth Rate-0.81%0.19%1.19%
Year 1 PV (M)34.6034.9535.30
Year 2 PV (M)34.9035.6136.32
Year 3 PV (M)34.9836.0537.14
Year 4 PV (M)34.8736.3037.77
Year 5 PV (M)34.5936.3738.22
PV of Terminal Value (M)947.94996.701,047.44
Equity Value (M)1,121.881,175.971,232.19
Shares Outstanding (M)35.4835.4835.48
Fair Value$31.62$33.15$34.73
Upside / Downside-17.76%-13.79%-9.67%

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