WDI Corp

TSE:3068

日本 / 非必需消費品 / 酒店、餐廳和休閒

綜觀

股息

10 年 DCF 收入退出價

股價

2,960.00 JPY

公允價值

1,227.76 JPY

Metrics	Range	Conclusion
Discount Rate	8.8% - 7.8%	8.3%
Terminal Revenue Multiple	0.8x - 0.8x	0.8x
Fair Value	¥1,011 - ¥1,460	¥1,228
Upside	-66.6% - -51.8%	-59.5%

3.0%

Revenue 10y CAGR

6.2%

10y Avg EBITDA Margin

Unlevered FCF 10y CAGR

10-Year DCF Model: Revenue Exit

股價

2,960.00 JPY

公允價值

1,227.76 JPY

看漲

-59.5%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(JPY in millions)		Input Projections
Fiscal Years Ending	Mar-24	Mar-25	Mar-26	Mar-27	Mar-28	Mar-29	Mar-30	Mar-31	Mar-32	Mar-33	Mar-34

Revenue	30,950	32,500	34,600	36,200	36,924	37,662	38,416	39,184	39,968	40,767	41,582
% Growth	18.2%	5.0%	6.5%	4.6%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%

EBITDA	2,049	1,709	2,165	2,266	2,311	2,357	2,404	2,452	2,501	2,551	2,602
% of Revenue	6.6%	5.3%	6.3%	6.3%	6.3%	6.3%	6.3%	6.3%	6.3%	6.3%	6.3%

支援算式

Calculation of Free Cash Flow

Discounting Periods

Discounting Factors

Calculation of Enterprise Value

Equity Waterfall

Historical Financials

Current Trading Multiples


Calculation of Free Cash Flow

Projected Unlevered Cash Flow
		Mar-25	Mar-26	Mar-27	Mar-28	Mar-29	Mar-30	Mar-31	Mar-32	Mar-33	Mar-34

EBITDA		1,709	2,165	2,266	2,311	2,357	2,404	2,452	2,501	2,551	2,602
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(209)	(465)	(366)	(373)	(380)	(388)	(396)	(404)	(412)	(420)

EBIT		1,500	1,700	1,900	1,938	1,977	2,016	2,057	2,098	2,140	2,183
Pro forma Taxes		(480)	(544)	(608)	(620)	(633)	(645)	(658)	(671)	(685)	(698)
NOPAT	955	1,020	1,156	1,292	1,318	1,344	1,371	1,399	1,426	1,455	1,484

Capital Expenditures	(1,194)	(2,181)	(2,322)	(2,430)	(2,478)	(2,528)	(2,479)	(2,495)	(2,500)	(2,491)	(2,496)
NWC Investment	178	58	78	60	27	27	28	29	29	30	30
(+) D&A	645	209	465	366	373	380	388	396	404	412	420

Free Cash Flow	583	(895)	(623)	(713)	(761)	(776)	(692)	(672)	(641)	(595)	(561)
% Growth			NM	NM	NM	NM	NM	NM	NM	NM	NM

載入錯誤

WDI Corp

TSE:3068

日本 / 非必需消費品 / 酒店、餐廳和休閒

10 年 DCF 收入退出價