Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

BTS Group AB (publ) (0KGY.L)

Company Dividend Discount ModelIndustry: Specialty Business ServicesSector: Industrials

Valuation Snapshot

Stable Growth$467.91 - $1,519.25$758.15
Multi-Stage$307.29 - $335.70$321.24
Blended Fair Value$539.69
Current Price$239.50
Upside125.34%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.81%13.01%5.705.404.801.203.593.572.732.402.261.68
YoY Growth--5.62%12.57%300.95%-66.65%0.45%30.60%13.72%6.38%34.29%0.30%
Dividend Yield--2.14%1.64%1.75%0.35%1.38%2.04%1.50%2.36%3.17%2.61%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)337.50
(-) Cash Dividends Paid (M)114.44
(=) Cash Retained (M)223.06
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)67.5042.1925.31
Cash Retained (M)223.06223.06223.06
(-) Cash Required (M)-67.50-42.19-25.31
(=) Excess Retained (M)155.56180.87197.75
(/) Shares Outstanding (M)19.3919.3919.39
(=) Excess Retained per Share8.029.3310.20
LTM Dividend per Share5.905.905.90
(+) Excess Retained per Share8.029.3310.20
(=) Adjusted Dividend13.9215.2316.10
WACC / Discount Rate8.64%8.64%8.64%
Growth Rate5.50%6.50%7.50%
Fair Value$467.91$758.15$1,519.25
Upside / Downside95.37%216.55%534.34%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)337.50359.44382.80407.68434.18462.40476.27
Payout Ratio33.91%45.13%56.35%67.56%78.78%90.00%92.50%
Projected Dividends (M)114.44162.20215.69275.44342.06416.16440.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.64%8.64%8.64%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)147.90149.30150.71
Year 2 PV (M)179.33182.75186.20
Year 3 PV (M)208.83214.82220.93
Year 4 PV (M)236.46245.56254.91
Year 5 PV (M)262.33275.00288.16
PV of Terminal Value (M)4,924.725,162.585,409.55
Equity Value (M)5,959.576,230.016,510.45
Shares Outstanding (M)19.3919.3919.39
Fair Value$307.29$321.24$335.70
Upside / Downside28.31%34.13%40.17%

High-Yield Dividend Screener

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