Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Impact HD Inc. (6067.T)

Company Dividend Discount ModelIndustry: Advertising AgenciesSector: Communication Services

Valuation Snapshot

Stable Growth$2,629.14 - $3,097.58$2,902.88
Multi-Stage$1,656.70 - $1,817.62$1,735.66
Blended Fair Value$2,319.27
Current Price$30.11
Upside7,602.66%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS13.08%0.00%7.736.936.405.914.674.183.383.012.510.00
YoY Growth--11.51%8.28%8.27%26.66%11.68%23.74%12.31%19.80%0.00%0.00%
Dividend Yield--23.70%28.64%30.54%52.57%13.08%54.75%64.93%63.42%28.26%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)15,704.00
(-) Cash Dividends Paid (M)8,237.00
(=) Cash Retained (M)7,467.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3,140.801,963.001,177.80
Cash Retained (M)7,467.007,467.007,467.00
(-) Cash Required (M)-3,140.80-1,963.00-1,177.80
(=) Excess Retained (M)4,326.205,504.006,289.20
(/) Shares Outstanding (M)1,008.251,008.251,008.25
(=) Excess Retained per Share4.295.466.24
LTM Dividend per Share8.178.178.17
(+) Excess Retained per Share4.295.466.24
(=) Adjusted Dividend12.4613.6314.41
WACC / Discount Rate3.98%3.98%3.98%
Growth Rate5.50%6.50%7.50%
Fair Value$2,629.14$2,902.88$3,097.58
Upside / Downside8,631.80%9,540.93%10,187.54%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)15,704.0016,724.7617,811.8718,969.6420,202.6721,515.8422,161.32
Payout Ratio52.45%59.96%67.47%74.98%82.49%90.00%92.50%
Projected Dividends (M)8,237.0010,028.3812,017.8414,223.5616,665.2519,364.2620,499.22

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate3.98%3.98%3.98%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)9,553.839,644.389,734.94
Year 2 PV (M)10,907.3511,115.1111,324.82
Year 3 PV (M)12,298.3812,651.4213,011.15
Year 4 PV (M)13,727.7014,255.6314,798.64
Year 5 PV (M)15,196.1415,930.1216,692.19
PV of Terminal Value (M)1,608,680.451,686,380.321,767,053.94
Equity Value (M)1,670,363.851,749,976.981,832,615.69
Shares Outstanding (M)1,008.251,008.251,008.25
Fair Value$1,656.70$1,735.66$1,817.62
Upside / Downside5,402.15%5,664.39%5,936.60%

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