Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Royce Micro-Cap Trust, Inc. (RMT)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$1.91 - $2.38$2.17
Multi-Stage$3.03 - $3.43$3.23
Blended Fair Value$2.70
Current Price$9.25
Upside-70.84%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-45.80%-34.57%0.020.290.340.330.410.440.470.020.370.69
YoY Growth---92.86%-15.56%3.83%-20.09%-6.50%-5.94%2,491.06%-95.15%-46.21%-51.67%
Dividend Yield--0.21%3.16%3.92%2.84%4.06%5.14%6.29%0.19%4.55%9.51%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)109.29
(-) Cash Dividends Paid (M)35.28
(=) Cash Retained (M)74.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21.8613.668.20
Cash Retained (M)74.0074.0074.00
(-) Cash Required (M)-21.86-13.66-8.20
(=) Excess Retained (M)52.1460.3465.81
(/) Shares Outstanding (M)63.5863.5863.58
(=) Excess Retained per Share0.820.951.03
LTM Dividend per Share0.550.550.55
(+) Excess Retained per Share0.820.951.03
(=) Adjusted Dividend1.381.501.59
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-36.57%-35.57%-34.57%
Fair Value$1.91$2.17$2.38
Upside / Downside-79.35%-76.54%-74.24%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)109.2970.4145.3629.2318.8312.1312.49
Payout Ratio32.29%43.83%55.37%66.91%78.46%90.00%92.50%
Projected Dividends (M)35.2830.8625.1219.5614.7710.9211.56

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-36.57%-35.57%-34.57%
Year 1 PV (M)27.8528.2928.73
Year 2 PV (M)20.4621.1121.77
Year 3 PV (M)14.3815.0715.78
Year 4 PV (M)9.8010.4311.10
Year 5 PV (M)6.547.077.64
PV of Terminal Value (M)113.84123.10132.95
Equity Value (M)192.86205.07217.97
Shares Outstanding (M)63.5863.5863.58
Fair Value$3.03$3.23$3.43
Upside / Downside-67.21%-65.13%-62.94%

High-Yield Dividend Screener

« Prev Page 10 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ESPEspey Mfg. & Electronics Corp.3.53%$1.6554.01%
F-PCFord Motor Company 6% Notes due3.53%$0.7463.45%
TECTPTectonic Financial, Inc.3.53%$0.3879.28%
AMFCXAmerican Funds American Mutual Fund3.52%$2.0690.87%
CRCCalifornia Resources Corporation3.52%$1.6435.94%
FAFFirst American Financial Corporation3.51%$2.1446.13%
GICGlobal Industrial Company3.51%$1.0358.36%
0R0G.LMondelez International, Inc.3.50%$1.8969.92%
DCPDCP Midstream, LP3.50%$1.4634.00%
LWLamb Weston Holdings, Inc.3.50%$1.4870.35%
WSOWatsco, Inc.3.50%$12.1683.88%
0QYY.LHarley-Davidson, Inc.3.49%$0.7217.57%
LKFNLakeland Financial Corporation3.49%$1.9752.13%
TRSTTrustCo Bank Corp NY3.49%$1.4448.14%
OMCOmnicom Group Inc.3.47%$2.8341.26%
PROVProvident Financial Holdings, Inc.3.47%$0.5561.73%
UTLUnitil Corporation3.47%$1.7061.75%
BF-ABrown-Forman Corporation3.45%$0.9152.84%
COFSChoiceOne Financial Services, Inc.3.45%$1.0070.38%
FCBPFirst Choice Bancorp3.45%$1.0034.34%
NXSTNexstar Media Group, Inc.3.45%$7.2042.75%
STBAS&T Bancorp, Inc.3.45%$1.3529.75%
VABKVirginia National Bankshares Corporation3.45%$1.3755.94%
F-PBFord Motor Company 6.20% Notes3.44%$0.7463.45%
0K3B.LThe Mosaic Company3.43%$0.8722.53%
CPFCentral Pacific Financial Corp.3.43%$1.0743.87%
CTBICommunity Trust Bancorp, Inc.3.43%$1.9337.41%
IIINInsteel Industries, Inc.3.43%$1.1153.05%
JJSFJ&J Snack Foods Corp.3.43%$3.1192.62%
TMPTompkins Financial Corporation3.43%$2.4942.22%
ALRSAlerus Financial Corporation3.41%$0.7739.09%
CNXCConcentrix Corporation3.41%$1.4028.16%
FBPFirst BanCorp.3.41%$0.7134.06%
GLOClough Global Opportunities Fund3.41%$0.1915.90%
OPBKOP Bancorp3.41%$0.4830.19%
PHXPHX Minerals Inc.3.39%$0.1581.44%
WHGWestwood Holdings Group, Inc.3.39%$0.6073.76%
SCVLShoe Carnival, Inc.3.38%$0.5928.17%
OGSONE Gas, Inc.3.37%$2.6161.93%
VALUValue Line, Inc.3.36%$1.2555.36%
WTRGEssential Utilities, Inc.3.36%$1.3054.79%
AVNTAvient Corporation3.35%$1.0686.14%
KTBKontoor Brands, Inc.3.35%$2.0653.00%
VCTRVictory Capital Holdings, Inc.3.35%$2.1548.89%
WAFDWaFd, Inc.3.35%$1.0837.44%
PBProsperity Bancshares, Inc.3.34%$2.3241.44%
PFGPrincipal Financial Group, Inc.3.34%$2.9943.04%
EVBNEvans Bancorp, Inc.3.33%$1.3160.97%
NFYSEnphys Acquisition Corp.3.33%$0.3768.70%
KMPRKemper Corporation3.32%$1.3132.45%