Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Kuriyama Holdings Corporation (3355.T)

Company Dividend Discount ModelIndustry: Chemicals - SpecialtySector: Basic Materials

Valuation Snapshot

Stable Growth$21,681.30 - $41,117.87$38,532.31
Multi-Stage$7,076.91 - $7,754.43$7,409.40
Blended Fair Value$22,970.85
Current Price$1,483.00
Upside1,448.94%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS28.82%19.45%67.9230.1525.1421.1420.1519.1517.8718.0418.0516.41
YoY Growth--125.31%19.92%18.93%4.88%5.24%7.15%-0.95%-0.03%10.00%42.86%
Dividend Yield--5.13%2.29%2.88%2.19%2.86%4.32%1.91%1.62%2.18%2.83%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,072.92
(-) Cash Dividends Paid (M)1,111.14
(=) Cash Retained (M)2,961.78
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)814.58509.11305.47
Cash Retained (M)2,961.782,961.782,961.78
(-) Cash Required (M)-814.58-509.11-305.47
(=) Excess Retained (M)2,147.192,452.662,656.31
(/) Shares Outstanding (M)19.6419.6419.64
(=) Excess Retained per Share109.35124.90135.27
LTM Dividend per Share56.5856.5856.58
(+) Excess Retained per Share109.35124.90135.27
(=) Adjusted Dividend165.93181.49191.86
WACC / Discount Rate5.96%5.96%5.96%
Growth Rate5.16%6.16%7.16%
Fair Value$21,681.30$38,532.31$41,117.87
Upside / Downside1,361.99%2,498.27%2,672.61%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,072.924,323.724,589.964,872.605,172.655,491.165,655.90
Payout Ratio27.28%39.82%52.37%64.91%77.46%90.00%92.50%
Projected Dividends (M)1,111.141,721.922,403.703,162.934,006.544,942.055,231.71

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.96%5.96%5.96%
Growth Rate5.16%6.16%7.16%
Year 1 PV (M)1,609.721,625.031,640.33
Year 2 PV (M)2,100.662,140.802,181.32
Year 3 PV (M)2,584.052,658.472,734.31
Year 4 PV (M)3,059.973,178.043,299.49
Year 5 PV (M)3,528.523,699.523,877.08
PV of Terminal Value (M)126,084.75132,194.88138,539.64
Equity Value (M)138,967.66145,496.73152,272.17
Shares Outstanding (M)19.6419.6419.64
Fair Value$7,076.91$7,409.40$7,754.43
Upside / Downside377.20%399.62%422.89%

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