Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Silvercorp Metals Inc. (SVM)

Company Dividend Discount ModelIndustry: SilverSector: Basic Materials

Valuation Snapshot

Stable Growth$1.35 - $2.21$1.74
Multi-Stage$1.11 - $1.21$1.15
Blended Fair Value$1.45
Current Price$4.22
Upside-65.74%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS2.91%5.12%0.020.020.020.020.020.020.020.020.020.01
YoY Growth--12.24%-0.37%0.06%-3.75%7.17%1.88%25.16%0.00%154.12%-55.96%
Dividend Yield--0.54%0.60%0.72%0.82%0.38%0.37%0.80%0.58%0.48%0.27%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)25.28
(-) Cash Dividends Paid (M)5.52
(=) Cash Retained (M)19.77
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.063.161.90
Cash Retained (M)19.7719.7719.77
(-) Cash Required (M)-5.06-3.16-1.90
(=) Excess Retained (M)14.7116.6117.87
(/) Shares Outstanding (M)218.50218.50218.50
(=) Excess Retained per Share0.070.080.08
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.070.080.08
(=) Adjusted Dividend0.090.100.11
WACC / Discount Rate12.71%12.71%12.71%
Growth Rate5.50%6.50%7.50%
Fair Value$1.35$1.74$2.21
Upside / Downside-67.90%-58.85%-47.67%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)25.2826.9328.6830.5432.5334.6435.68
Payout Ratio21.82%35.46%49.09%62.73%76.36%90.00%92.50%
Projected Dividends (M)5.529.5514.0819.1624.8431.1833.00

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate12.71%12.71%12.71%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)8.398.478.55
Year 2 PV (M)10.8711.0811.29
Year 3 PV (M)13.0113.3813.76
Year 4 PV (M)14.8215.3915.98
Year 5 PV (M)16.3517.1417.96
PV of Terminal Value (M)178.25186.86195.80
Equity Value (M)241.69252.32263.34
Shares Outstanding (M)218.50218.50218.50
Fair Value$1.11$1.15$1.21
Upside / Downside-73.79%-72.64%-71.44%

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