Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Nuveen Preferred & Income Opportunities Fund (JPC)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$136.11 - $323.37$303.04
Multi-Stage$48.50 - $53.03$50.72
Blended Fair Value$176.88
Current Price$7.96
Upside2,122.14%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.48%6.34%0.510.230.250.250.270.280.300.290.290.28
YoY Growth--119.34%-6.24%0.87%-10.05%-3.53%-5.67%4.98%-1.81%4.27%1.27%
Dividend Yield--6.66%3.53%2.96%2.46%3.11%2.87%3.19%2.71%2.79%3.05%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)433.02
(-) Cash Dividends Paid (M)291.97
(=) Cash Retained (M)141.05
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)86.6054.1332.48
Cash Retained (M)141.05141.05141.05
(-) Cash Required (M)-86.60-54.13-32.48
(=) Excess Retained (M)54.4486.92108.57
(/) Shares Outstanding (M)266.31266.31266.31
(=) Excess Retained per Share0.200.330.41
LTM Dividend per Share1.101.101.10
(+) Excess Retained per Share0.200.330.41
(=) Adjusted Dividend1.301.421.50
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate5.50%6.50%7.50%
Fair Value$136.11$303.04$323.37
Upside / Downside1,609.88%3,707.07%3,962.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)433.02461.17491.14523.07557.07593.28611.08
Payout Ratio67.43%71.94%76.46%80.97%85.49%90.00%92.50%
Projected Dividends (M)291.97331.77375.51423.53476.21533.95565.24

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)308.57311.50314.42
Year 2 PV (M)324.83331.02337.27
Year 3 PV (M)340.76350.54360.51
Year 4 PV (M)356.35370.05384.15
Year 5 PV (M)371.62389.57408.20
PV of Terminal Value (M)11,213.4611,755.0812,317.42
Equity Value (M)12,915.6013,507.7614,121.97
Shares Outstanding (M)266.31266.31266.31
Fair Value$48.50$50.72$53.03
Upside / Downside509.27%537.20%566.18%

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