Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Uniforce Technology Corp. (7714.TWO)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: N/A

Valuation Snapshot

Stable Growth$38.90 - $55.16$46.92
Multi-Stage$63.08 - $68.99$65.98
Blended Fair Value$56.45
Current Price$92.50
Upside-38.97%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020
DPS0.00%0.00%2.252.103.430.000.340.000.000.000.000.00
YoY Growth--6.97%-38.72%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.48%1.64%2.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)115.98
(-) Cash Dividends Paid (M)80.45
(=) Cash Retained (M)35.54
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)23.2014.508.70
Cash Retained (M)35.5435.5435.54
(-) Cash Required (M)-23.20-14.50-8.70
(=) Excess Retained (M)12.3421.0426.84
(/) Shares Outstanding (M)19.6319.6319.63
(=) Excess Retained per Share0.631.071.37
LTM Dividend per Share4.104.104.10
(+) Excess Retained per Share0.631.071.37
(=) Adjusted Dividend4.735.175.46
WACC / Discount Rate9.91%9.91%9.91%
Growth Rate-2.00%-1.00%0.00%
Fair Value$38.90$46.92$55.16
Upside / Downside-57.95%-49.27%-40.37%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)115.98114.82113.67112.54111.41110.30113.61
Payout Ratio69.36%73.49%77.62%81.74%85.87%90.00%92.50%
Projected Dividends (M)80.4584.3888.2391.9995.6799.27105.09

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.91%9.91%9.91%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)76.0076.7777.55
Year 2 PV (M)71.5773.0474.52
Year 3 PV (M)67.2169.2971.41
Year 4 PV (M)62.9665.5768.26
Year 5 PV (M)58.8461.9065.09
PV of Terminal Value (M)901.81948.77997.66
Equity Value (M)1,238.381,295.341,354.49
Shares Outstanding (M)19.6319.6319.63
Fair Value$63.08$65.98$68.99
Upside / Downside-31.81%-28.67%-25.41%

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