Definitive Analysis
Loading...
Definitive Analysis

Financial Statements

Ticker

Industry

Sector

CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 (CMSD)

Company Dividend Discount ModelIndustry: Regulated ElectricSector: Utilities

Valuation Snapshot

Stable Growth$97.69 - $352.68$162.65
Multi-Stage$94.05 - $102.99$98.44
Blended Fair Value$130.54
Current Price$24.14
Upside440.78%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.50%7.89%2.091.941.831.701.561.461.361.261.161.08
YoY Growth--8.12%6.04%7.27%8.99%7.11%7.13%7.96%8.65%7.76%9.90%
Dividend Yield--9.17%7.81%7.51%6.62%5.75%5.77%5.28%5.03%4.63%4.29%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,047.00
(-) Cash Dividends Paid (M)652.00
(=) Cash Retained (M)395.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)209.40130.8878.53
Cash Retained (M)395.00395.00395.00
(-) Cash Required (M)-209.40-130.88-78.53
(=) Excess Retained (M)185.60264.13316.48
(/) Shares Outstanding (M)299.13299.13299.13
(=) Excess Retained per Share0.620.881.06
LTM Dividend per Share2.182.182.18
(+) Excess Retained per Share0.620.881.06
(=) Adjusted Dividend2.803.063.24
WACC / Discount Rate6.56%6.56%6.56%
Growth Rate3.59%4.59%5.59%
Fair Value$97.69$162.65$352.68
Upside / Downside304.66%573.79%1,360.96%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,047.001,095.031,145.271,197.811,252.761,310.231,349.54
Payout Ratio62.27%67.82%73.36%78.91%84.45%90.00%92.50%
Projected Dividends (M)652.00742.63840.21945.181,058.011,179.211,248.32

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.56%6.56%6.56%
Growth Rate3.59%4.59%5.59%
Year 1 PV (M)690.27696.94703.60
Year 2 PV (M)725.91739.99754.21
Year 3 PV (M)759.02781.21803.84
Year 4 PV (M)789.72820.66852.50
Year 5 PV (M)818.12858.38900.21
PV of Terminal Value (M)24,349.1525,547.3626,792.27
Equity Value (M)28,132.2029,444.5430,806.63
Shares Outstanding (M)299.13299.13299.13
Fair Value$94.05$98.44$102.99
Upside / Downside289.60%307.77%326.63%

High-Yield Dividend Screener

« Prev Page 100 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
300389.SZShenzhen Absen Optoelectronic Co.,Ltd.0.92%$0.1530.03%
301130.SZJilin Province Xidian Pharmaceutical Sci-Tech Development Co.,Ltd0.92%$0.2651.19%
6168.HKZhou Liu Fu Jewellery Co., Ltd.0.92%$0.2612.52%
A2M.AXThe a2 Milk Company Limited0.92%$0.0818.59%
BSOFT.BOBirlasoft Limited0.92%$3.9624.09%
DFY.TODefinity Financial Corporation0.92%$0.6917.72%
ELTON.ATElton International Trading Company S.A.0.92%$0.0215.29%
PRY.MIPrysmian S.p.A.0.92%$0.8321.11%
SMKL.JKPT Satyamitra Kemas Lestari Tbk0.92%$1.6131.12%
TTTrane Technologies plc0.92%$3.6427.90%
001256.SZZhejiang Weigang Technology Co., Ltd.0.91%$0.2031.52%
002029.SZFujian Septwolves Industry Co., Ltd.0.91%$0.1014.96%
002106.SZShenzhen Laibao Hi-Tech Co., Ltd.0.91%$0.1023.71%
002732.SZGuangdong Yantang Dairy Co., Ltd.0.91%$0.1632.63%
002907.SZChongqing Pharscin Pharmaceutical Co., Ltd.0.91%$0.1475.56%
067830.KSSavezone I&C Corporation0.91%$29.9710.71%
300950.SZDoright Co.,Ltd.0.91%$0.2144.07%
301662.SZOngoal Technology Co., Ltd.0.91%$1.1069.65%
3291.TIida Group Holdings Co., Ltd.0.91%$22.8312.14%
601601.SSChina Pacific Insurance (Group) Co., Ltd.0.91%$0.386.97%
603859.SSNancal Technology Co.,Ltd0.91%$0.3839.03%
605339.SSNamchow Food Group (Shanghai) Co., Ltd.0.91%$0.1894.45%
7504.TKohsoku Corporation0.91%$27.0314.78%
AHLASPEN INSURANCE HOLDINGS LTD0.91%$0.346.83%
EPSIL.ATEpsilon Net S.A.0.91%$0.1116.81%
FCC.MCFomento de Construcciones y Contratas, S.A.0.91%$0.1019.61%
IFX.DEInfineon Technologies AG0.91%$0.3544.87%
MARE.MIMare Engineering Group S.p.A.0.91%$0.0429.31%
000590.KSCS Holdings Co., Ltd.0.90%$684.902.69%
002484.SZNantong Jianghai Capacitor Co. Ltd.0.90%$0.2732.53%
002733.SZShenzhen Center Power Tech. Co., Ltd0.90%$0.1878.92%
014680.KSHansol Chemical Co., Ltd.0.90%$2,160.7515.49%
025820.KSLeeku Industrial Co., Ltd.0.90%$50.4121.46%
2130.HKCN Logistics International Holdings Limited0.90%$0.0330.46%
300617.SZJiangsu Ankura Intelligent Power Co., Ltd.0.90%$0.2939.28%
300643.SZHamaton Automotive Technology Co., Ltd0.90%$0.1824.29%
300725.SZPharmaBlock Sciences (Nanjing), Inc.0.90%$0.3534.81%
300837.SZZhe Kuang Heavy Industry Co.,Ltd.0.90%$0.3178.86%
3318.HKChina Boton Group Company Limited0.90%$0.0218.28%
3476.KLKeck Seng (Malaysia) Berhad0.90%$0.058.85%
3588.TWLeadtrend Technology Corporation0.90%$0.4431.29%
JSPT.JKPT Jakarta Setiabudi Internasional Tbk0.90%$28.0325.39%
MAPI.JKPT. Mitra Adiperkasa Tbk0.90%$10.659.67%
SMBR.JKPT Semen Baturaja (Persero) Tbk0.90%$2.6010.77%
STNStantec Inc.0.90%$0.8722.17%
000159.SZXinjiang International Industry Co.,Ltd0.89%$0.0574.14%
001266.SZShanghai Smart Control Co., Ltd.0.89%$0.3584.46%
002250.SZLianhe Chemical Technology Co., Ltd.0.89%$0.1227.73%
002997.SZRayhoo Motor Dies Co.,Ltd.0.89%$0.3315.36%
003041.SZZhejiang Truelove Vogue Co., Ltd.0.89%$0.4927.94%