Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Camil Alimentos S.A. (CAML3.SA)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$8.44 - $17.31$11.84
Multi-Stage$6.61 - $7.19$6.89
Blended Fair Value$9.37
Current Price$4.89
Upside91.52%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS7.09%11.39%0.290.290.370.260.610.200.190.470.450.09
YoY Growth--0.00%-23.08%44.44%-58.14%202.82%9.23%-60.61%5.28%422.41%-11.76%
Dividend Yield--6.01%3.10%5.76%3.00%7.09%2.39%3.43%7.50%6.55%1.25%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)164.42
(-) Cash Dividends Paid (M)100.00
(=) Cash Retained (M)64.42
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)32.8820.5512.33
Cash Retained (M)64.4264.4264.42
(-) Cash Required (M)-32.88-20.55-12.33
(=) Excess Retained (M)31.5343.8652.08
(/) Shares Outstanding (M)350.18350.18350.18
(=) Excess Retained per Share0.090.130.15
LTM Dividend per Share0.290.290.29
(+) Excess Retained per Share0.090.130.15
(=) Adjusted Dividend0.380.410.43
WACC / Discount Rate10.20%10.20%10.20%
Growth Rate5.50%6.50%7.50%
Fair Value$8.44$11.84$17.31
Upside / Downside72.55%142.06%254.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)164.42175.10186.48198.61211.51225.26232.02
Payout Ratio60.82%66.66%72.49%78.33%84.16%90.00%92.50%
Projected Dividends (M)100.00116.72135.19155.56178.02202.74214.62

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.20%10.20%10.20%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)104.92105.92106.91
Year 2 PV (M)109.25111.33113.43
Year 3 PV (M)113.01116.25119.56
Year 4 PV (M)116.25120.73125.32
Year 5 PV (M)119.02124.77130.73
PV of Terminal Value (M)1,750.771,835.331,923.13
Equity Value (M)2,313.222,414.322,519.09
Shares Outstanding (M)350.18350.18350.18
Fair Value$6.61$6.89$7.19
Upside / Downside35.09%40.99%47.11%

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