Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Immo Moury SCA (IMMOU.BR)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$66.42 - $135.00$92.86
Multi-Stage$85.86 - $93.91$89.81
Blended Fair Value$91.33
Current Price$30.60
Upside198.48%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-2.76%-0.94%2.001.801.801.802.132.302.302.302.302.40
YoY Growth--11.06%0.00%0.00%-15.45%-7.43%0.00%0.00%0.00%-4.23%9.25%
Dividend Yield--6.53%6.34%4.52%4.15%4.53%5.13%5.02%4.75%4.34%4.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1.79
(-) Cash Dividends Paid (M)1.66
(=) Cash Retained (M)0.12
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.360.220.13
Cash Retained (M)0.120.120.12
(-) Cash Required (M)-0.36-0.22-0.13
(=) Excess Retained (M)-0.24-0.10-0.01
(/) Shares Outstanding (M)0.460.460.46
(=) Excess Retained per Share-0.51-0.22-0.03
LTM Dividend per Share3.603.603.60
(+) Excess Retained per Share-0.51-0.22-0.03
(=) Adjusted Dividend3.093.383.57
WACC / Discount Rate7.16%7.16%7.16%
Growth Rate2.40%3.40%4.40%
Fair Value$66.42$92.86$135.00
Upside / Downside117.07%203.46%341.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1.791.851.911.972.042.112.17
Payout Ratio93.20%92.56%91.92%91.28%90.64%90.00%92.50%
Projected Dividends (M)1.661.711.751.801.851.902.01

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.16%7.16%7.16%
Growth Rate2.40%3.40%4.40%
Year 1 PV (M)1.581.591.61
Year 2 PV (M)1.501.531.56
Year 3 PV (M)1.421.461.51
Year 4 PV (M)1.351.401.46
Year 5 PV (M)1.281.341.41
PV of Terminal Value (M)32.5734.1935.88
Equity Value (M)39.7041.5343.42
Shares Outstanding (M)0.460.460.46
Fair Value$85.86$89.81$93.91
Upside / Downside180.59%193.49%206.89%

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