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Atom Hoteles SOCIMI, S.A. (YATO.MC)

Company Dividend Discount ModelIndustry: REIT - Hotel & MotelSector: Real Estate

Valuation Snapshot

Stable Growth$175.17 - $822.89$388.07
Multi-Stage$95.82 - $104.64$100.15
Blended Fair Value$244.11
Current Price$14.80
Upside1,549.39%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS59.09%0.00%2.350.510.510.310.310.230.000.000.000.00
YoY Growth--362.66%0.00%63.78%0.00%34.50%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--19.24%5.20%5.20%0.00%0.00%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)133.57
(-) Cash Dividends Paid (M)92.15
(=) Cash Retained (M)41.42
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26.7116.7010.02
Cash Retained (M)41.4241.4241.42
(-) Cash Required (M)-26.71-16.70-10.02
(=) Excess Retained (M)14.7124.7231.40
(/) Shares Outstanding (M)32.2832.2832.28
(=) Excess Retained per Share0.460.770.97
LTM Dividend per Share2.852.852.85
(+) Excess Retained per Share0.460.770.97
(=) Adjusted Dividend3.313.623.83
WACC / Discount Rate7.49%7.49%7.49%
Growth Rate5.50%6.50%7.50%
Fair Value$175.17$388.07$822.89
Upside / Downside1,083.60%2,522.08%5,460.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)133.57142.26151.50161.35171.84183.01188.50
Payout Ratio68.99%73.19%77.39%81.60%85.80%90.00%92.50%
Projected Dividends (M)92.15104.12117.25131.66147.43164.71174.36

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.49%7.49%7.49%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)95.9596.8697.77
Year 2 PV (M)99.58101.48103.39
Year 3 PV (M)103.04106.00109.01
Year 4 PV (M)106.34110.42114.63
Year 5 PV (M)109.47114.76120.25
PV of Terminal Value (M)2,579.012,703.582,832.92
Equity Value (M)3,093.393,233.103,377.97
Shares Outstanding (M)32.2832.2832.28
Fair Value$95.82$100.15$104.64
Upside / Downside547.46%576.70%607.03%

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