Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Winton Land Limited (WTN.AX)

Company Dividend Discount ModelIndustry: Real Estate - DevelopmentSector: Real Estate

Valuation Snapshot

Stable Growth$9.74 - $15.20$12.26
Multi-Stage$22.43 - $24.74$23.56
Blended Fair Value$17.91
Current Price$2.04
Upside777.99%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019
DPS0.00%0.00%0.000.030.030.000.060.000.000.000.000.00
YoY Growth---100.00%-13.42%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%1.20%1.46%0.00%1.52%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)312.95
(-) Cash Dividends Paid (M)8.04
(=) Cash Retained (M)304.91
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)62.5939.1223.47
Cash Retained (M)304.91304.91304.91
(-) Cash Required (M)-62.59-39.12-23.47
(=) Excess Retained (M)242.32265.80281.44
(/) Shares Outstanding (M)307.37307.37307.37
(=) Excess Retained per Share0.790.860.92
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.790.860.92
(=) Adjusted Dividend0.810.890.94
WACC / Discount Rate6.19%6.19%6.19%
Growth Rate-2.00%-1.00%0.00%
Fair Value$9.74$12.26$15.20
Upside / Downside377.51%500.94%645.30%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)312.95309.82306.72303.66300.62297.61306.54
Payout Ratio2.57%20.05%37.54%55.03%72.51%90.00%92.50%
Projected Dividends (M)8.0462.13115.15167.09217.99267.85283.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.19%6.19%6.19%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)57.9258.5159.10
Year 2 PV (M)100.05102.11104.18
Year 3 PV (M)135.34139.53143.80
Year 4 PV (M)164.59171.41178.44
Year 5 PV (M)188.51198.33208.55
PV of Terminal Value (M)6,247.306,572.616,911.33
Equity Value (M)6,893.717,242.497,605.40
Shares Outstanding (M)307.37307.37307.37
Fair Value$22.43$23.56$24.74
Upside / Downside999.41%1,055.03%1,112.91%

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