Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Gurktaler AG (GAGS.VI)

Company Dividend Discount ModelIndustry: Beverages - AlcoholicSector: Consumer Defensive

Valuation Snapshot

Stable Growth$12.34 - $18.89$15.40
Multi-Stage$27.92 - $30.64$29.25
Blended Fair Value$22.33
Current Price$10.00
Upside123.27%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%0.000.006.180.170.090.180.090.090.090.03
YoY Growth--0.00%-100.00%3,584.27%87.22%-50.00%100.00%0.00%0.00%200.00%-90.12%
Dividend Yield--0.00%0.00%58.32%1.45%0.90%2.01%1.03%1.39%1.47%0.55%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2.76
(-) Cash Dividends Paid (M)2.74
(=) Cash Retained (M)0.03
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.550.350.21
Cash Retained (M)0.030.030.03
(-) Cash Required (M)-0.55-0.35-0.21
(=) Excess Retained (M)-0.53-0.32-0.18
(/) Shares Outstanding (M)2.012.012.01
(=) Excess Retained per Share-0.26-0.16-0.09
LTM Dividend per Share1.361.361.36
(+) Excess Retained per Share-0.26-0.16-0.09
(=) Adjusted Dividend1.101.201.27
WACC / Discount Rate6.74%6.74%6.74%
Growth Rate-2.00%-1.00%0.00%
Fair Value$12.34$15.40$18.89
Upside / Downside23.44%54.02%88.87%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2.762.742.712.682.652.632.71
Payout Ratio99.02%97.21%95.41%93.61%91.80%90.00%92.50%
Projected Dividends (M)2.742.662.582.512.442.362.50

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.74%6.74%6.74%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)2.472.492.52
Year 2 PV (M)2.222.272.31
Year 3 PV (M)2.002.062.13
Year 4 PV (M)1.801.881.95
Year 5 PV (M)1.621.711.79
PV of Terminal Value (M)45.9548.3550.84
Equity Value (M)56.0758.7561.54
Shares Outstanding (M)2.012.012.01
Fair Value$27.92$29.25$30.64
Upside / Downside179.16%192.53%206.42%

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