Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Venture Global, Inc. (VG)

Company Dividend Discount ModelIndustry: Oil & Gas MidstreamSector: Energy

Valuation Snapshot

Stable Growth$10.49 - $17.59$13.61
Multi-Stage$37.60 - $41.51$39.51
Blended Fair Value$26.56
Current Price$14.19
Upside87.17%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021
DPS0.00%0.00%0.050.060.000.000.000.000.000.000.000.00
YoY Growth---15.24%2,633.33%-14.29%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.52%0.26%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)2,333.00
(-) Cash Dividends Paid (M)562.00
(=) Cash Retained (M)1,771.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)466.60291.63174.98
Cash Retained (M)1,771.001,771.001,771.00
(-) Cash Required (M)-466.60-291.63-174.98
(=) Excess Retained (M)1,304.401,479.381,596.03
(/) Shares Outstanding (M)2,584.642,584.642,584.64
(=) Excess Retained per Share0.500.570.62
LTM Dividend per Share0.220.220.22
(+) Excess Retained per Share0.500.570.62
(=) Adjusted Dividend0.720.790.83
WACC / Discount Rate4.75%4.75%4.75%
Growth Rate-2.00%-1.00%0.00%
Fair Value$10.49$13.61$17.59
Upside / Downside-26.08%-4.11%23.96%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,333.002,309.672,286.572,263.712,241.072,218.662,285.22
Payout Ratio24.09%37.27%50.45%63.64%76.82%90.00%92.50%
Projected Dividends (M)562.00860.841,153.661,440.531,721.541,996.792,113.83

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.75%4.75%4.75%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)813.53821.84830.14
Year 2 PV (M)1,030.341,051.471,072.82
Year 3 PV (M)1,215.831,253.441,291.80
Year 4 PV (M)1,373.161,430.081,488.74
Year 5 PV (M)1,505.181,583.561,665.17
PV of Terminal Value (M)91,232.1195,982.78100,929.32
Equity Value (M)97,170.16102,123.15107,277.98
Shares Outstanding (M)2,584.642,584.642,584.64
Fair Value$37.60$39.51$41.51
Upside / Downside164.94%178.45%192.50%

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