Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PARK24 Co., Ltd. (4666.T)

Company Dividend Discount ModelIndustry: Industrial - Infrastructure OperationsSector: Industrials

Valuation Snapshot

Stable Growth$1,729.35 - $4,383.13$2,607.36
Multi-Stage$3,535.49 - $3,892.98$3,710.77
Blended Fair Value$3,159.07
Current Price$2,023.50
Upside56.12%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.010.040.0259.2359.2456.2552.0943.8139.70
YoY Growth---100.00%-85.71%133.33%-99.97%-0.02%5.31%7.99%18.89%10.37%25.51%
Dividend Yield--0.00%0.00%0.00%0.00%2.90%2.15%2.17%1.91%1.41%1.17%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)14,597.00
(-) Cash Dividends Paid (M)853.00
(=) Cash Retained (M)13,744.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,919.401,824.631,094.78
Cash Retained (M)13,744.0013,744.0013,744.00
(-) Cash Required (M)-2,919.40-1,824.63-1,094.78
(=) Excess Retained (M)10,824.6011,919.3812,649.23
(/) Shares Outstanding (M)182.66182.66182.66
(=) Excess Retained per Share59.2665.2569.25
LTM Dividend per Share4.674.674.67
(+) Excess Retained per Share59.2665.2569.25
(=) Adjusted Dividend63.9369.9273.92
WACC / Discount Rate4.90%4.90%4.90%
Growth Rate1.16%2.16%3.16%
Fair Value$1,729.35$2,607.36$4,383.13
Upside / Downside-14.54%28.85%116.61%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)14,597.0014,912.6915,235.2015,564.6915,901.3016,245.2016,732.56
Payout Ratio5.84%22.67%39.51%56.34%73.17%90.00%92.50%
Projected Dividends (M)853.003,381.446,018.858,768.7511,634.7814,620.6815,477.61

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.90%4.90%4.90%
Growth Rate1.16%2.16%3.16%
Year 1 PV (M)3,191.863,223.413,254.97
Year 2 PV (M)5,362.885,469.435,577.02
Year 3 PV (M)7,375.047,595.927,821.17
Year 4 PV (M)9,236.929,607.619,989.33
Year 5 PV (M)10,956.6811,509.0312,083.43
PV of Terminal Value (M)609,668.30640,403.02672,364.95
Equity Value (M)645,791.69677,808.42711,090.87
Shares Outstanding (M)182.66182.66182.66
Fair Value$3,535.49$3,710.77$3,892.98
Upside / Downside74.72%83.38%92.39%

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