Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Brookfield Global Infrastructure Securities Income Fund (BGI-UN.TO)

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

Valuation Snapshot

Stable Growth$9.24 - $12.50$10.91
Multi-Stage$28.82 - $31.92$30.33
Blended Fair Value$20.62
Current Price$6.05
Upside240.82%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-1.51%-7.22%0.600.650.630.600.590.640.750.810.961.26
YoY Growth---8.24%3.27%5.86%0.62%-8.21%-13.72%-7.55%-15.42%-24.28%-0.18%
Dividend Yield--11.74%15.73%12.22%9.00%10.03%8.24%13.16%11.94%14.12%20.39%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)32.62
(-) Cash Dividends Paid (M)15.05
(=) Cash Retained (M)17.57
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6.524.082.45
Cash Retained (M)17.5717.5717.57
(-) Cash Required (M)-6.52-4.08-2.45
(=) Excess Retained (M)11.0513.4915.12
(/) Shares Outstanding (M)16.3016.3016.30
(=) Excess Retained per Share0.680.830.93
LTM Dividend per Share0.920.920.92
(+) Excess Retained per Share0.680.830.93
(=) Adjusted Dividend1.601.751.85
WACC / Discount Rate6.52%6.52%6.52%
Growth Rate-9.22%-8.22%-7.22%
Fair Value$9.24$10.91$12.50
Upside / Downside52.65%80.25%106.65%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)32.6229.9327.4725.2123.1421.2421.87
Payout Ratio46.13%54.90%63.68%72.45%81.23%90.00%92.50%
Projected Dividends (M)15.0516.4417.4918.2718.8019.1120.23

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.52%6.52%6.52%
Growth Rate-9.22%-8.22%-7.22%
Year 1 PV (M)15.2615.4315.60
Year 2 PV (M)15.0915.4215.76
Year 3 PV (M)14.6315.1215.62
Year 4 PV (M)13.9814.6015.25
Year 5 PV (M)13.2013.9414.72
PV of Terminal Value (M)397.43419.80443.18
Equity Value (M)469.57494.31520.12
Shares Outstanding (M)16.3016.3016.30
Fair Value$28.82$30.33$31.92
Upside / Downside376.29%401.38%427.55%

High-Yield Dividend Screener

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