Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

T.RAD Co., Ltd. (7236.T)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$13,260.06 - $23,994.59$17,735.66
Multi-Stage$15,581.52 - $17,075.70$16,314.61
Blended Fair Value$17,025.14
Current Price$4,420.00
Upside285.18%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS12.75%6.63%194.1881.69203.3643.7255.86106.58123.7074.2275.4663.79
YoY Growth--137.71%-59.83%365.12%-21.73%-47.59%-13.84%66.67%-1.65%18.29%-37.60%
Dividend Yield--4.39%2.20%11.03%1.67%2.09%8.01%6.32%2.16%2.13%3.62%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)5,969.00
(-) Cash Dividends Paid (M)1,545.00
(=) Cash Retained (M)4,424.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,193.80746.13447.68
Cash Retained (M)4,424.004,424.004,424.00
(-) Cash Required (M)-1,193.80-746.13-447.68
(=) Excess Retained (M)3,230.203,677.883,976.33
(/) Shares Outstanding (M)6.436.436.43
(=) Excess Retained per Share502.60572.25618.69
LTM Dividend per Share240.39240.39240.39
(+) Excess Retained per Share502.60572.25618.69
(=) Adjusted Dividend742.99812.64859.08
WACC / Discount Rate8.15%8.15%8.15%
Growth Rate2.41%3.41%4.41%
Fair Value$13,260.06$17,735.66$23,994.59
Upside / Downside200.00%301.26%442.86%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)5,969.006,172.436,382.796,600.326,825.277,057.887,269.62
Payout Ratio25.88%38.71%51.53%64.35%77.18%90.00%92.50%
Projected Dividends (M)1,545.002,389.163,289.074,247.545,267.526,352.096,724.39

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.15%8.15%8.15%
Growth Rate2.41%3.41%4.41%
Year 1 PV (M)2,187.832,209.202,230.56
Year 2 PV (M)2,758.102,812.232,866.88
Year 3 PV (M)3,261.693,358.173,456.54
Year 4 PV (M)3,704.083,850.894,002.02
Year 5 PV (M)4,090.334,293.984,505.66
PV of Terminal Value (M)84,140.8888,330.0292,684.37
Equity Value (M)100,142.91104,854.48109,746.03
Shares Outstanding (M)6.436.436.43
Fair Value$15,581.52$16,314.61$17,075.70
Upside / Downside252.52%269.11%286.33%

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