Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PIMCO Global StocksPLUS & Income Fund (PGP)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$21.57 - $32.67$26.79
Multi-Stage$45.08 - $49.54$47.27
Blended Fair Value$37.03
Current Price$8.29
Upside346.69%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-4.67%-8.55%0.770.740.720.710.720.971.211.421.651.88
YoY Growth--3.05%2.90%1.87%-0.75%-26.57%-19.56%-14.61%-13.89%-12.46%0.38%
Dividend Yield--9.25%9.82%10.04%9.00%6.44%11.89%9.67%9.47%8.95%9.63%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)28.64
(-) Cash Dividends Paid (M)17.38
(=) Cash Retained (M)11.27
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.733.582.15
Cash Retained (M)11.2711.2711.27
(-) Cash Required (M)-5.73-3.58-2.15
(=) Excess Retained (M)5.547.699.12
(/) Shares Outstanding (M)11.5011.5011.50
(=) Excess Retained per Share0.480.670.79
LTM Dividend per Share1.511.511.51
(+) Excess Retained per Share0.480.670.79
(=) Adjusted Dividend1.992.182.30
WACC / Discount Rate7.05%7.05%7.05%
Growth Rate-2.00%-1.00%0.00%
Fair Value$21.57$26.79$32.67
Upside / Downside160.20%223.20%294.05%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)28.6428.3528.0727.7927.5127.2428.05
Payout Ratio60.66%66.53%72.40%78.27%84.13%90.00%92.50%
Projected Dividends (M)17.3818.8620.3221.7523.1524.5125.95

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.05%7.05%7.05%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)17.4417.6217.80
Year 2 PV (M)17.3817.7318.09
Year 3 PV (M)17.2017.7318.27
Year 4 PV (M)16.9217.6218.35
Year 5 PV (M)16.5717.4318.33
PV of Terminal Value (M)432.83455.37478.83
Equity Value (M)518.34543.51569.68
Shares Outstanding (M)11.5011.5011.50
Fair Value$45.08$47.27$49.54
Upside / Downside443.77%470.18%497.63%

High-Yield Dividend Screener

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