Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Esquire Financial Holdings, Inc. (ESQ)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$107.18 - $227.30$152.15
Multi-Stage$77.57 - $84.76$81.10
Blended Fair Value$116.62
Current Price$102.06
Upside14.27%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.560.430.250.000.000.000.000.000.000.00
YoY Growth--30.30%73.06%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.75%0.91%0.64%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)49.11
(-) Cash Dividends Paid (M)5.54
(=) Cash Retained (M)43.56
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9.826.143.68
Cash Retained (M)43.5643.5643.56
(-) Cash Required (M)-9.82-6.14-3.68
(=) Excess Retained (M)33.7437.4239.88
(/) Shares Outstanding (M)8.598.598.59
(=) Excess Retained per Share3.934.364.64
LTM Dividend per Share0.650.650.65
(+) Excess Retained per Share3.934.364.64
(=) Adjusted Dividend4.575.005.29
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate5.50%6.50%7.50%
Fair Value$107.18$152.15$227.30
Upside / Downside5.02%49.08%122.71%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49.1152.3055.7059.3263.1767.2869.30
Payout Ratio11.29%27.03%42.77%58.52%74.26%90.00%92.50%
Projected Dividends (M)5.5414.1423.8234.7146.9160.5564.10

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)12.7312.8512.97
Year 2 PV (M)19.3219.6920.06
Year 3 PV (M)25.3526.0826.82
Year 4 PV (M)30.8532.0433.26
Year 5 PV (M)35.8737.6039.40
PV of Terminal Value (M)542.40568.60595.80
Equity Value (M)666.53696.86728.32
Shares Outstanding (M)8.598.598.59
Fair Value$77.57$81.10$84.76
Upside / Downside-24.00%-20.54%-16.95%

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