Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Jumbo S.A. (BELA.AT)

Company Dividend Discount ModelIndustry: Specialty RetailSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$40.29 - $80.11$55.87
Multi-Stage$34.01 - $37.04$35.50
Blended Fair Value$45.68
Current Price$25.56
Upside78.73%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020202019201820172016
DPS0.00%0.00%1.602.950.000.000.000.000.000.000.000.00
YoY Growth---45.71%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--6.26%11.03%0.00%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)320.10
(-) Cash Dividends Paid (M)217.70
(=) Cash Retained (M)102.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)64.0240.0124.01
Cash Retained (M)102.40102.40102.40
(-) Cash Required (M)-64.02-40.01-24.01
(=) Excess Retained (M)38.3862.3978.39
(/) Shares Outstanding (M)135.95135.95135.95
(=) Excess Retained per Share0.280.460.58
LTM Dividend per Share1.601.601.60
(+) Excess Retained per Share0.280.460.58
(=) Adjusted Dividend1.882.062.18
WACC / Discount Rate9.95%9.95%9.95%
Growth Rate5.04%6.04%7.04%
Fair Value$40.29$55.87$80.11
Upside / Downside57.65%118.58%213.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)320.10339.42359.91381.63404.67429.10441.97
Payout Ratio68.01%72.41%76.81%81.20%85.60%90.00%92.50%
Projected Dividends (M)217.70245.77276.43309.90346.41386.19408.83

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.95%9.95%9.95%
Growth Rate5.04%6.04%7.04%
Year 1 PV (M)221.42223.53225.64
Year 2 PV (M)224.38228.68233.01
Year 3 PV (M)226.64233.17239.83
Year 4 PV (M)228.24237.06246.13
Year 5 PV (M)229.25240.38251.93
PV of Terminal Value (M)3,493.653,663.153,839.17
Equity Value (M)4,623.594,825.975,035.71
Shares Outstanding (M)135.95135.95135.95
Fair Value$34.01$35.50$37.04
Upside / Downside33.06%38.88%44.92%

High-Yield Dividend Screener

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