Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Fibra Danhos (DANHOS13.MX)

Company Dividend Discount ModelIndustry: REIT - DiversifiedSector: Real Estate

Valuation Snapshot

Stable Growth$27.23 - $41.51$33.92
Multi-Stage$34.39 - $37.63$35.98
Blended Fair Value$34.95
Current Price$24.61
Upside42.01%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-2.68%8.21%1.171.221.181.000.751.341.070.891.020.62
YoY Growth---4.77%3.69%17.82%34.01%-44.02%25.12%19.95%-13.13%65.09%17.12%
Dividend Yield--5.21%6.06%4.92%4.24%2.93%6.87%3.84%2.97%3.30%1.73%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,717.51
(-) Cash Dividends Paid (M)1,744.76
(=) Cash Retained (M)2,972.75
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)943.50589.69353.81
Cash Retained (M)2,972.752,972.752,972.75
(-) Cash Required (M)-943.50-589.69-353.81
(=) Excess Retained (M)2,029.252,383.062,618.93
(/) Shares Outstanding (M)1,589.621,589.621,589.62
(=) Excess Retained per Share1.281.501.65
LTM Dividend per Share1.101.101.10
(+) Excess Retained per Share1.281.501.65
(=) Adjusted Dividend2.372.602.75
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate1.18%2.18%3.18%
Fair Value$27.23$33.92$41.51
Upside / Downside10.63%37.81%68.68%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,717.514,820.124,924.965,032.085,141.535,253.365,410.96
Payout Ratio36.98%47.59%58.19%68.79%79.40%90.00%92.50%
Projected Dividends (M)1,744.762,293.792,865.883,461.764,082.224,728.035,005.14

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate1.18%2.18%3.18%
Year 1 PV (M)2,064.892,085.302,105.71
Year 2 PV (M)2,322.442,368.582,415.17
Year 3 PV (M)2,525.392,601.022,678.14
Year 4 PV (M)2,680.852,788.422,899.19
Year 5 PV (M)2,795.112,936.003,082.52
PV of Terminal Value (M)42,282.7944,414.0946,630.48
Equity Value (M)54,671.4757,193.4159,811.21
Shares Outstanding (M)1,589.621,589.621,589.62
Fair Value$34.39$35.98$37.63
Upside / Downside39.75%46.20%52.89%

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