Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Pan Pacific International Holdings Corporation (7532.T)

Company Dividend Discount ModelIndustry: Discount StoresSector: Consumer Defensive

Valuation Snapshot

Stable Growth$1,590.38 - $6,004.93$4,670.96
Multi-Stage$740.63 - $810.64$774.99
Blended Fair Value$2,722.97
Current Price$991.80
Upside174.55%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS25.00%21.80%6.774.183.583.353.172.221.951.371.161.05
YoY Growth--62.00%16.72%6.98%5.52%42.97%13.61%42.33%18.22%10.13%11.82%
Dividend Yield--0.68%0.57%0.57%0.65%0.68%0.45%0.54%0.48%0.55%0.57%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)90,512.00
(-) Cash Dividends Paid (M)20,297.00
(=) Cash Retained (M)70,215.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18,102.4011,314.006,788.40
Cash Retained (M)70,215.0070,215.0070,215.00
(-) Cash Required (M)-18,102.40-11,314.00-6,788.40
(=) Excess Retained (M)52,112.6058,901.0063,426.60
(/) Shares Outstanding (M)2,997.632,997.632,997.63
(=) Excess Retained per Share17.3819.6521.16
LTM Dividend per Share6.776.776.77
(+) Excess Retained per Share17.3819.6521.16
(=) Adjusted Dividend24.1626.4227.93
WACC / Discount Rate7.10%7.10%7.10%
Growth Rate5.50%6.50%7.50%
Fair Value$1,590.38$4,670.96$6,004.93
Upside / Downside60.35%370.96%505.46%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)90,512.0096,395.28102,660.97109,333.94116,440.64124,009.28127,729.56
Payout Ratio22.42%35.94%49.45%62.97%76.48%90.00%92.50%
Projected Dividends (M)20,297.0034,644.1950,770.7768,847.4389,059.54111,608.36118,149.85

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.10%7.10%7.10%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)32,043.0732,346.8032,650.52
Year 2 PV (M)43,433.1344,260.4145,095.49
Year 3 PV (M)54,475.1956,038.9857,632.41
Year 4 PV (M)65,177.1267,683.6570,261.79
Year 5 PV (M)75,546.6379,195.5682,984.15
PV of Terminal Value (M)1,949,459.952,043,619.602,141,382.95
Equity Value (M)2,220,135.092,323,144.992,430,007.31
Shares Outstanding (M)2,997.632,997.632,997.63
Fair Value$740.63$774.99$810.64
Upside / Downside-25.32%-21.86%-18.27%

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