Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

JANOME Corporation (6445.T)

Company Dividend Discount ModelIndustry: Furnishings, Fixtures & AppliancesSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$473.89 - $745.81$598.52
Multi-Stage$1,019.61 - $1,122.93$1,070.25
Blended Fair Value$834.38
Current Price$1,120.00
Upside-25.50%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS20.73%0.00%40.8026.7226.7742.5716.0215.9110.5910.530.000.00
YoY Growth--52.70%-0.21%-37.11%165.74%0.70%50.26%0.53%0.00%0.00%0.00%
Dividend Yield--3.64%3.86%4.35%5.95%2.12%3.50%2.32%1.49%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)867.00
(-) Cash Dividends Paid (M)228.00
(=) Cash Retained (M)639.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)173.40108.3865.03
Cash Retained (M)639.00639.00639.00
(-) Cash Required (M)-173.40-108.38-65.03
(=) Excess Retained (M)465.60530.63573.98
(/) Shares Outstanding (M)18.0418.0418.04
(=) Excess Retained per Share25.8129.4131.82
LTM Dividend per Share12.6412.6412.64
(+) Excess Retained per Share25.8129.4131.82
(=) Adjusted Dividend38.4542.0544.45
WACC / Discount Rate6.44%6.44%6.44%
Growth Rate-1.54%-0.54%0.46%
Fair Value$473.89$598.52$745.81
Upside / Downside-57.69%-46.56%-33.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)867.00862.29857.61852.95848.32843.71869.02
Payout Ratio26.30%39.04%51.78%64.52%77.26%90.00%92.50%
Projected Dividends (M)228.00336.62444.06550.32655.41759.34803.85

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.44%6.44%6.44%
Growth Rate-1.54%-0.54%0.46%
Year 1 PV (M)313.06316.24319.42
Year 2 PV (M)384.07391.92399.84
Year 3 PV (M)442.67456.29470.19
Year 4 PV (M)490.30510.53531.37
Year 5 PV (M)528.30555.68584.18
PV of Terminal Value (M)16,236.3017,077.7617,953.75
Equity Value (M)18,394.7019,308.4120,258.75
Shares Outstanding (M)18.0418.0418.04
Fair Value$1,019.61$1,070.25$1,122.93
Upside / Downside-8.96%-4.44%0.26%

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