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We.Connect S.A. (ALWEC.PA)

Company Dividend Discount ModelIndustry: Consumer ElectronicsSector: Technology

Valuation Snapshot

Stable Growth$628.33 - $1,313.68$1,231.11
Multi-Stage$197.03 - $215.86$206.27
Blended Fair Value$718.69
Current Price$18.70
Upside3,743.27%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS10.18%0.00%0.380.380.380.000.240.240.230.120.000.11
YoY Growth--0.04%0.80%0.00%-100.00%0.30%0.13%92.61%0.00%-100.00%0.00%
Dividend Yield--2.16%2.54%2.38%0.00%1.27%1.88%2.37%1.11%0.00%0.06%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)19.23
(-) Cash Dividends Paid (M)2.30
(=) Cash Retained (M)16.93
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3.852.401.44
Cash Retained (M)16.9316.9316.93
(-) Cash Required (M)-3.85-2.40-1.44
(=) Excess Retained (M)13.0814.5215.48
(/) Shares Outstanding (M)2.912.912.91
(=) Excess Retained per Share4.494.995.32
LTM Dividend per Share0.790.790.79
(+) Excess Retained per Share4.494.995.32
(=) Adjusted Dividend5.285.786.11
WACC / Discount Rate6.39%6.39%6.39%
Growth Rate5.50%6.50%7.50%
Fair Value$628.33$1,231.11$1,313.68
Upside / Downside3,260.04%6,483.49%6,925.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)19.2320.4821.8123.2224.7326.3427.13
Payout Ratio11.96%27.57%43.18%58.78%74.39%90.00%92.50%
Projected Dividends (M)2.305.649.4213.6518.4023.7125.10

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.39%6.39%6.39%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)5.265.315.36
Year 2 PV (M)8.168.328.48
Year 3 PV (M)11.0211.3411.66
Year 4 PV (M)13.8314.3614.91
Year 5 PV (M)16.5917.4018.23
PV of Terminal Value (M)518.60543.64569.65
Equity Value (M)573.46600.37628.28
Shares Outstanding (M)2.912.912.91
Fair Value$197.03$206.27$215.86
Upside / Downside953.62%1,003.05%1,054.34%

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