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The Gabelli Global Small and Mid Cap Value Trust (GGZ)

Company Dividend Discount ModelIndustry: Asset Management - GlobalSector: Financial Services

Valuation Snapshot

Stable Growth$19.00 - $27.36$23.08
Multi-Stage$31.67 - $34.73$33.17
Blended Fair Value$28.13
Current Price$13.32
Upside111.17%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.640.671.131.130.000.000.000.000.000.00
YoY Growth---4.36%-40.40%-0.42%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--5.50%5.74%10.06%7.13%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)22.05
(-) Cash Dividends Paid (M)10.59
(=) Cash Retained (M)11.46
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4.412.761.65
Cash Retained (M)11.4611.4611.46
(-) Cash Required (M)-4.41-2.76-1.65
(=) Excess Retained (M)7.058.709.80
(/) Shares Outstanding (M)8.218.218.21
(=) Excess Retained per Share0.861.061.19
LTM Dividend per Share1.291.291.29
(+) Excess Retained per Share0.861.061.19
(=) Adjusted Dividend2.152.352.48
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Fair Value$19.00$23.08$27.36
Upside / Downside42.68%73.28%105.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)22.0521.8321.6121.3921.1820.9721.60
Payout Ratio48.03%56.42%64.82%73.21%81.61%90.00%92.50%
Projected Dividends (M)10.5912.3214.0115.6617.2818.8719.98

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)11.1811.2911.40
Year 2 PV (M)11.5411.7712.01
Year 3 PV (M)11.7112.0712.44
Year 4 PV (M)11.7212.2112.71
Year 5 PV (M)11.6212.2212.85
PV of Terminal Value (M)202.23212.77223.73
Equity Value (M)259.99272.32285.14
Shares Outstanding (M)8.218.218.21
Fair Value$31.67$33.17$34.73
Upside / Downside137.77%149.05%160.77%

High-Yield Dividend Screener

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