Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Calvert International Responsible Idx A (CDHAX)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$16.05 - $25.67$20.41
Multi-Stage$23.83 - $26.13$24.96
Blended Fair Value$22.68
Current Price$28.30
Upside-19.85%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201620152014
DPS0.00%0.00%0.640.010.570.000.000.000.000.000.000.00
YoY Growth--7,455.48%-98.54%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.25%0.03%2.21%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)52.81
(-) Cash Dividends Paid (M)22.13
(=) Cash Retained (M)30.67
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)10.566.603.96
Cash Retained (M)30.6730.6730.67
(-) Cash Required (M)-10.56-6.60-3.96
(=) Excess Retained (M)20.1124.0726.71
(/) Shares Outstanding (M)34.7134.7134.71
(=) Excess Retained per Share0.580.690.77
LTM Dividend per Share0.640.640.64
(+) Excess Retained per Share0.580.690.77
(=) Adjusted Dividend1.221.331.41
WACC / Discount Rate8.14%8.14%8.14%
Growth Rate0.52%1.52%2.52%
Fair Value$16.05$20.41$25.67
Upside / Downside-43.28%-27.88%-9.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)52.8153.6154.4255.2556.0956.9458.65
Payout Ratio41.92%51.53%61.15%70.77%80.38%90.00%92.50%
Projected Dividends (M)22.1327.6333.2839.1045.0851.2454.25

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.14%8.14%8.14%
Growth Rate0.52%1.52%2.52%
Year 1 PV (M)25.2925.5525.80
Year 2 PV (M)27.9028.4629.02
Year 3 PV (M)30.0130.9231.84
Year 4 PV (M)31.6932.9734.29
Year 5 PV (M)32.9834.6536.39
PV of Terminal Value (M)679.37713.84749.70
Equity Value (M)827.24866.38907.04
Shares Outstanding (M)34.7134.7134.71
Fair Value$23.83$24.96$26.13
Upside / Downside-15.79%-11.81%-7.67%

High-Yield Dividend Screener

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