Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Avient Corporation (AVNT)

Company Dividend Discount ModelIndustry: Chemicals - SpecialtySector: Basic Materials

Valuation Snapshot

Stable Growth$55.71 - $245.39$132.28
Multi-Stage$29.82 - $32.55$31.16
Blended Fair Value$81.72
Current Price$32.95
Upside148.01%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.29%12.14%1.020.980.950.850.780.660.610.480.440.39
YoY Growth--4.21%3.92%11.71%8.98%18.24%7.49%27.21%9.70%12.61%19.40%
Dividend Yield--2.75%2.29%2.30%1.76%1.64%3.46%2.05%1.13%1.28%1.29%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)113.30
(-) Cash Dividends Paid (M)97.60
(=) Cash Retained (M)15.70
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)22.6614.168.50
Cash Retained (M)15.7015.7015.70
(-) Cash Required (M)-22.66-14.16-8.50
(=) Excess Retained (M)-6.961.547.20
(/) Shares Outstanding (M)91.8391.8391.83
(=) Excess Retained per Share-0.080.020.08
LTM Dividend per Share1.061.061.06
(+) Excess Retained per Share-0.080.020.08
(=) Adjusted Dividend0.991.081.14
WACC / Discount Rate7.37%7.37%7.37%
Growth Rate5.50%6.50%7.50%
Fair Value$55.71$132.28$245.39
Upside / Downside69.08%301.45%644.72%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)113.30120.66128.51136.86145.76155.23159.89
Payout Ratio86.14%86.91%87.69%88.46%89.23%90.00%92.50%
Projected Dividends (M)97.60104.87112.68121.06130.06139.71147.90

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.37%7.37%7.37%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)96.7697.6898.59
Year 2 PV (M)95.9297.7599.59
Year 3 PV (M)95.0897.81100.59
Year 4 PV (M)94.2497.86101.59
Year 5 PV (M)93.4097.91102.59
PV of Terminal Value (M)2,262.912,372.202,485.69
Equity Value (M)2,738.302,861.212,988.64
Shares Outstanding (M)91.8391.8391.83
Fair Value$29.82$31.16$32.55
Upside / Downside-9.50%-5.43%-1.22%

High-Yield Dividend Screener

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