Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Kubota Corporation (6326.T)

Company Dividend Discount ModelIndustry: Agricultural - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$5,035.37 - $28,705.78$9,215.35
Multi-Stage$3,558.20 - $3,895.28$3,723.63
Blended Fair Value$6,469.49
Current Price$1,863.00
Upside247.26%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.99%4.38%50.0647.3644.7342.0138.1237.4335.3733.3930.2832.48
YoY Growth--5.71%5.86%6.48%10.22%1.83%5.82%5.92%10.28%-6.76%-0.37%
Dividend Yield--2.73%1.99%2.24%1.82%1.51%2.71%2.20%1.79%1.81%2.11%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)174,483.00
(-) Cash Dividends Paid (M)57,178.00
(=) Cash Retained (M)117,305.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)34,896.6021,810.3813,086.23
Cash Retained (M)117,305.00117,305.00117,305.00
(-) Cash Required (M)-34,896.60-21,810.38-13,086.23
(=) Excess Retained (M)82,408.4095,494.63104,218.78
(/) Shares Outstanding (M)1,150.501,150.501,150.50
(=) Excess Retained per Share71.6383.0090.59
LTM Dividend per Share49.7049.7049.70
(+) Excess Retained per Share71.6383.0090.59
(=) Adjusted Dividend121.33132.70140.28
WACC / Discount Rate7.15%7.15%7.15%
Growth Rate4.63%5.63%6.63%
Fair Value$5,035.37$9,215.35$28,705.78
Upside / Downside170.28%394.65%1,440.84%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)174,483.00184,311.45194,693.52205,660.41217,245.05229,482.24236,366.71
Payout Ratio32.77%44.22%55.66%67.11%78.55%90.00%92.50%
Projected Dividends (M)57,178.0081,495.08108,370.26138,014.55170,654.66206,534.02218,639.21

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.15%7.15%7.15%
Growth Rate4.63%5.63%6.63%
Year 1 PV (M)75,334.1876,054.1676,774.15
Year 2 PV (M)92,604.3594,382.8996,178.35
Year 3 PV (M)109,020.16112,175.92115,392.00
Year 4 PV (M)124,612.25129,444.76134,416.49
Year 5 PV (M)139,410.28146,200.72153,253.22
PV of Terminal Value (M)3,552,744.983,725,793.123,905,519.63
Equity Value (M)4,093,726.194,284,051.584,481,533.83
Shares Outstanding (M)1,150.501,150.501,150.50
Fair Value$3,558.20$3,723.63$3,895.28
Upside / Downside90.99%99.87%109.09%

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