Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Trinity Capital Inc. - 7.00% No (TRINL)

Company Dividend Discount ModelIndustry: Investment - Banking & Investment ServicesSector: Financial Services

Valuation Snapshot

Stable Growth$17.00 - $25.10$20.88
Multi-Stage$30.46 - $33.52$31.96
Blended Fair Value$26.42
Current Price$14.07
Upside87.77%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%1.561.200.000.380.160.000.000.000.000.00
YoY Growth--30.11%0.00%-100.00%140.82%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--10.27%8.26%0.00%1.96%1.05%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)142.00
(-) Cash Dividends Paid (M)29.11
(=) Cash Retained (M)112.89
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)28.4017.7510.65
Cash Retained (M)112.89112.89112.89
(-) Cash Required (M)-28.40-17.75-10.65
(=) Excess Retained (M)84.4995.14102.24
(/) Shares Outstanding (M)65.8465.8465.84
(=) Excess Retained per Share1.281.451.55
LTM Dividend per Share0.440.440.44
(+) Excess Retained per Share1.281.451.55
(=) Adjusted Dividend1.731.891.99
WACC / Discount Rate7.95%7.95%7.95%
Growth Rate-2.00%-1.00%0.00%
Fair Value$17.00$20.88$25.10
Upside / Downside20.81%48.40%78.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)142.00140.58139.18137.79136.41135.04139.10
Payout Ratio20.50%34.40%48.30%62.20%76.10%90.00%92.50%
Projected Dividends (M)29.1148.3667.2285.70103.81121.54128.66

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.95%7.95%7.95%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)44.3544.8045.25
Year 2 PV (M)56.5357.6958.86
Year 3 PV (M)66.0968.1370.22
Year 4 PV (M)73.4176.4579.59
Year 5 PV (M)78.8282.9287.19
PV of Terminal Value (M)1,686.401,774.211,865.65
Equity Value (M)2,005.592,104.202,206.76
Shares Outstanding (M)65.8465.8465.84
Fair Value$30.46$31.96$33.52
Upside / Downside116.49%127.14%138.21%

High-Yield Dividend Screener

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