Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

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uPI Semiconductor Corp. (6719.TW)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$42.63 - $102.21$63.13
Multi-Stage$43.63 - $47.64$45.60
Blended Fair Value$54.36
Current Price$202.50
Upside-73.15%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS24.30%0.00%1.947.565.500.990.000.650.000.000.000.00
YoY Growth---74.36%37.53%453.84%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.07%2.60%1.77%0.16%0.00%0.08%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)215.96
(-) Cash Dividends Paid (M)206.97
(=) Cash Retained (M)9.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)43.1927.0016.20
Cash Retained (M)9.009.009.00
(-) Cash Required (M)-43.19-27.00-16.20
(=) Excess Retained (M)-34.20-18.00-7.20
(/) Shares Outstanding (M)106.74106.74106.74
(=) Excess Retained per Share-0.32-0.17-0.07
LTM Dividend per Share1.941.941.94
(+) Excess Retained per Share-0.32-0.17-0.07
(=) Adjusted Dividend1.621.771.87
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate3.60%4.60%5.60%
Fair Value$42.63$63.13$102.21
Upside / Downside-78.95%-68.83%-49.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)215.96225.91236.31247.19258.58270.48278.60
Payout Ratio95.83%94.67%93.50%92.33%91.17%90.00%92.50%
Projected Dividends (M)206.97213.86220.95228.24235.73243.43257.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate3.60%4.60%5.60%
Year 1 PV (M)196.97198.87200.77
Year 2 PV (M)187.42191.06194.73
Year 3 PV (M)178.32183.53188.84
Year 4 PV (M)169.62176.27183.10
Year 5 PV (M)161.32169.26177.51
PV of Terminal Value (M)3,762.893,948.034,140.38
Equity Value (M)4,656.554,867.025,085.34
Shares Outstanding (M)106.74106.74106.74
Fair Value$43.63$45.60$47.64
Upside / Downside-78.46%-77.48%-76.47%

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