Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Levi Strauss & Co. (LEVI)

Company Dividend Discount ModelIndustry: Apparel - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$19.30 - $33.34$25.34
Multi-Stage$29.15 - $32.00$30.55
Blended Fair Value$27.94
Current Price$22.37
Upside24.92%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS11.75%20.80%0.500.480.440.260.160.280.220.170.150.12
YoY Growth--4.20%9.29%66.95%64.05%-44.13%26.57%28.57%16.67%20.00%66.65%
Dividend Yield--2.88%2.63%2.47%1.15%0.67%1.49%1.00%0.78%0.67%0.56%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)602.70
(-) Cash Dividends Paid (M)209.60
(=) Cash Retained (M)393.10
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)120.5475.3445.20
Cash Retained (M)393.10393.10393.10
(-) Cash Required (M)-120.54-75.34-45.20
(=) Excess Retained (M)272.56317.76347.90
(/) Shares Outstanding (M)400.25400.25400.25
(=) Excess Retained per Share0.680.790.87
LTM Dividend per Share0.520.520.52
(+) Excess Retained per Share0.680.790.87
(=) Adjusted Dividend1.201.321.39
WACC / Discount Rate7.25%7.25%7.25%
Growth Rate0.95%1.95%2.95%
Fair Value$19.30$25.34$33.34
Upside / Downside-13.73%13.27%49.03%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)602.70614.43626.38638.57650.99663.66683.57
Payout Ratio34.78%45.82%56.87%67.91%78.96%90.00%92.50%
Projected Dividends (M)209.60281.54356.20433.66513.99597.29632.30

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.25%7.25%7.25%
Growth Rate0.95%1.95%2.95%
Year 1 PV (M)259.94262.52265.09
Year 2 PV (M)303.64309.69315.79
Year 3 PV (M)341.31351.56362.00
Year 4 PV (M)373.51388.53404.00
Year 5 PV (M)400.74420.99442.04
PV of Terminal Value (M)9,989.7410,494.4511,019.36
Equity Value (M)11,668.8812,227.7312,808.29
Shares Outstanding (M)400.25400.25400.25
Fair Value$29.15$30.55$32.00
Upside / Downside30.33%36.57%43.05%

High-Yield Dividend Screener

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