Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

ZACROS Corporation (7917.T)

Company Dividend Discount ModelIndustry: Packaging & ContainersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$1,127.92 - $1,932.02$1,475.75
Multi-Stage$1,150.71 - $1,258.63$1,203.68
Blended Fair Value$1,339.72
Current Price$940.00
Upside42.52%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS8.57%5.27%26.0721.1121.3720.3517.7917.2816.7716.7716.7716.12
YoY Growth--23.47%-1.19%4.99%14.41%2.94%3.03%0.00%0.00%4.06%3.34%
Dividend Yield--2.77%2.00%2.39%2.34%1.75%1.84%2.29%1.84%1.90%3.35%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)6,556.00
(-) Cash Dividends Paid (M)1,562.00
(=) Cash Retained (M)4,994.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,311.20819.50491.70
Cash Retained (M)4,994.004,994.004,994.00
(-) Cash Required (M)-1,311.20-819.50-491.70
(=) Excess Retained (M)3,682.804,174.504,502.30
(/) Shares Outstanding (M)74.8974.8974.89
(=) Excess Retained per Share49.1855.7460.12
LTM Dividend per Share20.8620.8620.86
(+) Excess Retained per Share49.1855.7460.12
(=) Adjusted Dividend70.0376.6080.98
WACC / Discount Rate9.68%9.68%9.68%
Growth Rate3.27%4.27%5.27%
Fair Value$1,127.92$1,475.75$1,932.02
Upside / Downside19.99%57.00%105.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)6,556.006,835.937,127.817,432.157,749.488,080.378,322.78
Payout Ratio23.83%37.06%50.30%63.53%76.77%90.00%92.50%
Projected Dividends (M)1,562.002,533.423,584.954,721.665,948.907,272.337,698.57

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.68%9.68%9.68%
Growth Rate3.27%4.27%5.27%
Year 1 PV (M)2,287.642,309.792,331.94
Year 2 PV (M)2,923.092,979.973,037.41
Year 3 PV (M)3,476.423,578.403,682.34
Year 4 PV (M)3,955.074,110.504,270.47
Year 5 PV (M)4,365.874,581.384,805.33
PV of Terminal Value (M)69,167.2472,581.5976,129.46
Equity Value (M)86,175.3390,141.6394,256.95
Shares Outstanding (M)74.8974.8974.89
Fair Value$1,150.71$1,203.68$1,258.63
Upside / Downside22.42%28.05%33.90%

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