Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Global Link Management Inc. (3486.T)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$17,390.84 - $87,734.52$36,030.53
Multi-Stage$9,439.03 - $10,329.33$9,876.02
Blended Fair Value$22,953.27
Current Price$2,878.00
Upside697.54%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS53.38%0.00%56.5129.5119.5919.116.676.665.840.000.000.00
YoY Growth--91.49%50.65%2.50%186.57%0.20%14.07%0.00%0.00%0.00%0.00%
Dividend Yield--2.94%2.00%3.09%4.32%1.39%2.33%1.66%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)6,243.40
(-) Cash Dividends Paid (M)1,040.00
(=) Cash Retained (M)5,203.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,248.68780.42468.25
Cash Retained (M)5,203.405,203.405,203.40
(-) Cash Required (M)-1,248.68-780.42-468.25
(=) Excess Retained (M)3,954.724,422.974,735.14
(/) Shares Outstanding (M)14.1514.1514.15
(=) Excess Retained per Share279.44312.52334.58
LTM Dividend per Share73.4973.4973.49
(+) Excess Retained per Share279.44312.52334.58
(=) Adjusted Dividend352.92386.01408.07
WACC / Discount Rate7.64%7.64%7.64%
Growth Rate5.50%6.50%7.50%
Fair Value$17,390.84$36,030.53$87,734.52
Upside / Downside504.27%1,151.93%2,948.45%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)6,243.406,649.227,081.427,541.718,031.928,553.998,810.61
Payout Ratio16.66%31.33%45.99%60.66%75.33%90.00%92.50%
Projected Dividends (M)1,040.002,082.943,257.074,575.036,050.577,698.598,149.82

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.64%7.64%7.64%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,916.911,935.081,953.25
Year 2 PV (M)2,758.532,811.072,864.11
Year 3 PV (M)3,565.903,668.273,772.57
Year 4 PV (M)4,340.074,506.984,678.65
Year 5 PV (M)5,082.035,327.505,582.36
PV of Terminal Value (M)115,921.62121,520.67127,334.02
Equity Value (M)133,585.06139,769.57146,184.96
Shares Outstanding (M)14.1514.1514.15
Fair Value$9,439.03$9,876.02$10,329.33
Upside / Downside227.97%243.16%258.91%

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