Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sekisui Chemical Co., Ltd. (4204.T)

Company Dividend Discount ModelIndustry: ConglomeratesSector: Industrials

Valuation Snapshot

Stable Growth$1,812.45 - $2,871.31$2,295.35
Multi-Stage$1,751.25 - $1,906.96$1,827.71
Blended Fair Value$2,061.53
Current Price$2,755.00
Upside-25.17%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS8.45%9.62%76.7166.8557.2151.7250.3351.1347.3343.5637.3233.20
YoY Growth--14.75%16.85%10.61%2.77%-1.57%8.02%8.67%16.71%12.43%8.45%
Dividend Yield--2.94%3.00%2.76%2.79%2.65%3.32%2.84%2.31%1.86%2.65%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)70,721.00
(-) Cash Dividends Paid (M)33,106.00
(=) Cash Retained (M)37,615.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)14,144.208,840.135,304.08
Cash Retained (M)37,615.0037,615.0037,615.00
(-) Cash Required (M)-14,144.20-8,840.13-5,304.08
(=) Excess Retained (M)23,470.8028,774.8832,310.93
(/) Shares Outstanding (M)416.31416.31416.31
(=) Excess Retained per Share56.3869.1277.61
LTM Dividend per Share79.5279.5279.52
(+) Excess Retained per Share56.3869.1277.61
(=) Adjusted Dividend135.90148.64157.14
WACC / Discount Rate11.95%11.95%11.95%
Growth Rate4.14%5.14%6.14%
Fair Value$1,812.45$2,295.35$2,871.31
Upside / Downside-34.21%-16.68%4.22%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)70,721.0074,355.9878,177.7882,196.0386,420.8190,862.7493,588.62
Payout Ratio46.81%55.45%64.09%72.72%81.36%90.00%92.50%
Projected Dividends (M)33,106.0041,230.1650,102.0159,776.9470,314.0681,776.4686,569.47

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate11.95%11.95%11.95%
Growth Rate4.14%5.14%6.14%
Year 1 PV (M)36,479.2936,829.5837,179.88
Year 2 PV (M)39,220.9339,977.7840,741.87
Year 3 PV (M)41,402.6142,606.8143,834.12
Year 4 PV (M)43,089.1344,768.1646,495.80
Year 5 PV (M)44,338.9246,509.0248,763.26
PV of Terminal Value (M)524,532.01550,204.35576,872.18
Equity Value (M)729,062.90760,895.70793,887.11
Shares Outstanding (M)416.31416.31416.31
Fair Value$1,751.25$1,827.71$1,906.96
Upside / Downside-36.43%-33.66%-30.78%

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