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 6 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
RIVER.OLRiver Tech p.l.c.10.78%$0.4364.39%
RZSB.MEJoint-Stock Company Ryazanenergosbyt10.78%$3.7168.15%
1193.HKChina Resources Gas Group Limited10.77%$2.3064.05%
601166.SSIndustrial Bank Co., Ltd.10.76%$2.2762.03%
7757.TWOLebledor F&B Co., Ltd.10.76%$12.4863.66%
KYLO.ATLoulis Food Ingredients S.A.10.71%$0.4088.89%
0220.HKUni-President China Holdings Ltd10.69%$0.8694.83%
9919.HKActivation Group Holdings Limited10.69%$0.1146.94%
1358.HKPW Medtech Group Limited10.66%$0.1468.89%
1809.HKPrinx Chengshan Holdings Limited10.66%$0.8521.37%
LCS.TOBrompton Lifeco Split Corp.10.66%$1.1817.54%
KSC.AXK&S Corporation Limited10.64%$0.3577.01%
2146.HKRoiserv Lifestyle Services Co., Ltd.10.62%$0.1524.06%
ALUP11.SAAlupar Investimento S.A.10.60%$3.3996.11%
2886.HKBinhai Investment Company Limited10.58%$0.1236.55%
601916.SSChina Zheshang Bank Co., Ltd10.58%$0.3263.30%
3877.HKCSSC (Hong Kong) Shipping Company Limited10.55%$0.2234.11%
2387.TWSunrex Technology Corporation10.53%$4.0579.22%
EMAAR.AEEmaar Properties PJSC10.52%$1.4986.86%
L-PB.TOLoblaw Companies Limited10.50%$2.6231.91%
0315.HKSmarTone Telecommunications Holdings Limited10.48%$0.5057.53%
TGHN.DELogwin AG10.47%$26.8057.77%
BJBR.JKPT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk10.46%$85.2589.95%
MASTER.BKMaster Style Public Company Limited10.45%$0.7865.02%
0QQM.LIVF Hartmann Holding AG10.44%$14.5194.28%
VCOM.BKVintcom Technology Public Company Limited10.44%$0.3185.35%
ANI.BKAsia Network International Public Company Limited10.43%$0.3194.26%
LPSB3.SALPS Brasil - Consultoria de Imóveis S.A.10.43%$0.1783.48%
0842.HKLeoch International Technology Limited10.40%$0.2231.41%
1600.HKTian Lun Gas Holdings Limited10.40%$0.3345.16%
2111.HKBest Pacific International Holdings Limited10.40%$0.3437.60%
OTL.OLOdfjell Technology Ltd.10.40%$5.9771.20%
RCO.PARémy Cointreau S.A.10.38%$3.7763.28%
1979.HKTen Pao Group Holdings Limited10.37%$0.2329.45%
6938.TWONewebinfo10.34%$8.3570.00%
0032.HKThe Cross-Harbour (Holdings) Limited10.33%$0.8429.78%
TPBI.BKTPBI Public Company Limited10.33%$0.3061.20%
ALFLE.PAFleury Michon S.A.10.32%$2.6016.71%
0916.HKChina Longyuan Power Group Corporation Limited10.31%$0.7098.82%
KUBE.MERosseti Kuban PJSC10.31%$14.6288.00%
BAZA3.SABanco da Amazônia S.A.10.29%$8.0041.79%
0QON.LAscom Holding AG10.28%$0.3979.12%
NPR.AXNewmark Property REIT10.28%$0.1565.75%
FMG.AXFortescue Ltd10.26%$2.2776.64%
GAGS.VIGurktaler AG10.26%$1.5999.02%
1525.HKShanghai Gench Education Group Limited10.25%$0.2722.33%
LHHOTEL.BKLH Hotel Leasehold Real Estate Investment Trust10.25%$1.3358.58%
WAX.AXWAM Research Limited10.25%$0.1210.33%
0006.HKPower Assets Holdings Limited10.23%$5.6498.48%
151860.KQKG Eco Solution Co.,Ltd.10.21%$561.5130.85%