Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Vieworks Co., Ltd. (100120.KQ)

Company Dividend Discount ModelIndustry: Medical - DevicesSector: Healthcare

Valuation Snapshot

Stable Growth$62,331.14 - $216,946.22$102,832.74
Multi-Stage$40,021.40 - $43,741.39$41,847.57
Blended Fair Value$72,340.15
Current Price$19,780.00
Upside265.72%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.68%12.38%352.21704.42754.74466.00432.04324.03217.82218.71109.48109.62
YoY Growth---50.00%-6.67%61.96%7.86%33.33%48.76%-0.40%99.78%-0.13%0.00%
Dividend Yield--1.52%2.43%2.50%1.13%1.20%1.06%0.62%0.56%0.17%0.22%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)20,373.28
(-) Cash Dividends Paid (M)5,509.15
(=) Cash Retained (M)14,864.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4,074.662,546.661,528.00
Cash Retained (M)14,864.1414,864.1414,864.14
(-) Cash Required (M)-4,074.66-2,546.66-1,528.00
(=) Excess Retained (M)10,789.4812,317.4813,336.14
(/) Shares Outstanding (M)9.129.129.12
(=) Excess Retained per Share1,182.511,349.971,461.61
LTM Dividend per Share603.79603.79603.79
(+) Excess Retained per Share1,182.511,349.971,461.61
(=) Adjusted Dividend1,786.301,953.762,065.41
WACC / Discount Rate8.52%8.52%8.52%
Growth Rate5.50%6.50%7.50%
Fair Value$62,331.14$102,832.74$216,946.22
Upside / Downside215.12%419.88%996.80%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)20,373.2821,697.5523,107.8924,609.9026,209.5427,913.1628,750.56
Payout Ratio27.04%39.63%52.22%64.82%77.41%90.00%92.50%
Projected Dividends (M)5,509.158,599.3512,068.0115,951.2520,288.3425,121.8526,594.27

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.52%8.52%8.52%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)7,849.557,923.967,998.36
Year 2 PV (M)10,055.2810,246.8010,440.14
Year 3 PV (M)12,132.0112,480.2812,835.14
Year 4 PV (M)14,085.2214,626.9015,184.05
Year 5 PV (M)15,920.1816,689.1417,487.52
PV of Terminal Value (M)305,123.02319,860.58335,162.18
Equity Value (M)365,165.27381,827.65399,107.39
Shares Outstanding (M)9.129.129.12
Fair Value$40,021.40$41,847.57$43,741.39
Upside / Downside102.33%111.57%121.14%

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