Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

WashTec AG (WSU.DE)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$23.12 - $35.04$28.73
Multi-Stage$34.11 - $37.22$35.64
Blended Fair Value$32.18
Current Price$38.50
Upside-16.41%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-2.13%12.69%2.202.202.900.990.002.452.452.101.701.72
YoY Growth--0.00%-24.14%192.95%0.00%-100.00%0.00%16.67%23.53%-1.04%157.80%
Dividend Yield--5.64%5.64%7.11%2.06%0.00%6.78%3.48%2.71%2.99%4.70%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)34.73
(-) Cash Dividends Paid (M)32.12
(=) Cash Retained (M)2.61
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6.954.342.60
Cash Retained (M)2.612.612.61
(-) Cash Required (M)-6.95-4.34-2.60
(=) Excess Retained (M)-4.33-1.730.01
(/) Shares Outstanding (M)13.3813.3813.38
(=) Excess Retained per Share-0.32-0.130.00
LTM Dividend per Share2.402.402.40
(+) Excess Retained per Share-0.32-0.130.00
(=) Adjusted Dividend2.082.272.40
WACC / Discount Rate9.46%9.46%9.46%
Growth Rate0.44%1.44%2.44%
Fair Value$23.12$28.73$35.04
Upside / Downside-39.94%-25.38%-8.99%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)34.7335.2335.7436.2536.7837.3038.42
Payout Ratio92.47%91.98%91.48%90.99%90.49%90.00%92.50%
Projected Dividends (M)32.1232.4132.7032.9933.2833.5735.54

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.46%9.46%9.46%
Growth Rate0.44%1.44%2.44%
Year 1 PV (M)29.3129.6129.90
Year 2 PV (M)26.7527.2927.83
Year 3 PV (M)24.4225.1525.90
Year 4 PV (M)22.2823.1824.11
Year 5 PV (M)20.3421.3722.44
PV of Terminal Value (M)333.36350.29367.90
Equity Value (M)456.47476.89498.09
Shares Outstanding (M)13.3813.3813.38
Fair Value$34.11$35.64$37.22
Upside / Downside-11.40%-7.44%-3.32%

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