Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Vieworks Co., Ltd. (100120.KQ)

Company Dividend Discount ModelIndustry: Medical - DevicesSector: Healthcare

Valuation Snapshot

Stable Growth$63,967.50 - $234,681.42$106,919.56
Multi-Stage$40,633.10 - $44,412.96$42,488.64
Blended Fair Value$74,704.10
Current Price$19,780.00
Upside277.67%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.68%12.38%352.21704.42754.74466.00432.04324.03217.82218.71109.48109.62
YoY Growth---50.00%-6.67%61.96%7.86%33.33%48.76%-0.40%99.78%-0.13%0.00%
Dividend Yield--1.52%2.43%2.50%1.13%1.20%1.06%0.62%0.56%0.17%0.22%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)20,373.28
(-) Cash Dividends Paid (M)5,509.15
(=) Cash Retained (M)14,864.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4,074.662,546.661,528.00
Cash Retained (M)14,864.1414,864.1414,864.14
(-) Cash Required (M)-4,074.66-2,546.66-1,528.00
(=) Excess Retained (M)10,789.4812,317.4813,336.14
(/) Shares Outstanding (M)9.129.129.12
(=) Excess Retained per Share1,182.511,349.971,461.61
LTM Dividend per Share603.79603.79603.79
(+) Excess Retained per Share1,182.511,349.971,461.61
(=) Adjusted Dividend1,786.301,953.762,065.41
WACC / Discount Rate8.45%8.45%8.45%
Growth Rate5.50%6.50%7.50%
Fair Value$63,967.50$106,919.56$234,681.42
Upside / Downside223.39%440.54%1,086.46%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)20,373.2821,697.5523,107.8924,609.9026,209.5427,913.1628,750.56
Payout Ratio27.04%39.63%52.22%64.82%77.41%90.00%92.50%
Projected Dividends (M)5,509.158,599.3512,068.0115,951.2520,288.3425,121.8526,594.27

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.45%8.45%8.45%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)7,855.157,929.618,004.07
Year 2 PV (M)10,069.6310,261.4310,455.03
Year 3 PV (M)12,157.9912,507.0012,862.63
Year 4 PV (M)14,125.4514,668.6715,227.42
Year 5 PV (M)15,977.0416,748.7317,549.96
PV of Terminal Value (M)310,561.30325,561.53341,135.85
Equity Value (M)370,746.55387,676.97405,234.96
Shares Outstanding (M)9.129.129.12
Fair Value$40,633.10$42,488.64$44,412.96
Upside / Downside105.43%114.81%124.53%

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