Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Cargotec Corporation (CGCBV.HE)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$360.11 - $904.15$541.24
Multi-Stage$247.25 - $270.28$258.55
Blended Fair Value$399.89
Current Price$42.00
Upside852.13%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.31%17.82%2.141.351.081.071.201.101.050.960.820.56
YoY Growth--59.31%25.18%0.14%-10.80%9.58%4.41%9.32%17.80%46.26%34.20%
Dividend Yield--5.11%2.12%2.40%3.11%2.61%6.49%3.05%2.22%1.76%1.97%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,039.20
(-) Cash Dividends Paid (M)138.20
(=) Cash Retained (M)901.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)207.84129.9077.94
Cash Retained (M)901.00901.00901.00
(-) Cash Required (M)-207.84-129.90-77.94
(=) Excess Retained (M)693.16771.10823.06
(/) Shares Outstanding (M)64.6364.6364.63
(=) Excess Retained per Share10.7211.9312.73
LTM Dividend per Share2.142.142.14
(+) Excess Retained per Share10.7211.9312.73
(=) Adjusted Dividend12.8614.0714.87
WACC / Discount Rate9.27%9.27%9.27%
Growth Rate5.50%6.50%7.50%
Fair Value$360.11$541.24$904.15
Upside / Downside757.41%1,188.66%2,052.74%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,039.201,106.751,178.691,255.301,336.901,423.791,466.51
Payout Ratio13.30%28.64%43.98%59.32%74.66%90.00%92.50%
Projected Dividends (M)138.20316.96518.38744.64998.121,281.411,356.52

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.27%9.27%9.27%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)287.35290.08292.80
Year 2 PV (M)426.05434.17442.36
Year 3 PV (M)554.85570.77587.00
Year 4 PV (M)674.25700.18726.85
Year 5 PV (M)784.75822.66862.01
PV of Terminal Value (M)13,253.2713,893.4114,558.05
Equity Value (M)15,980.5216,711.2617,469.07
Shares Outstanding (M)64.6364.6364.63
Fair Value$247.25$258.55$270.28
Upside / Downside488.68%515.60%543.51%

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