Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Match Group, Inc. (MTCH)

Company Dividend Discount ModelIndustry: Software - ApplicationSector: Technology

Valuation Snapshot

Stable Growth$35.35 - $72.34$49.54
Multi-Stage$164.62 - $181.70$172.99
Blended Fair Value$111.27
Current Price$35.32
Upside215.03%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.000.000.000.390.000.000.42
YoY Growth--0.00%0.00%0.00%0.00%0.00%-100.00%0.00%0.00%-100.00%16.29%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%0.00%0.70%0.00%0.00%3.83%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)562.09
(-) Cash Dividends Paid (M)140.89
(=) Cash Retained (M)421.20
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)112.4270.2642.16
Cash Retained (M)421.20421.20421.20
(-) Cash Required (M)-112.42-70.26-42.16
(=) Excess Retained (M)308.78350.94379.04
(/) Shares Outstanding (M)267.14267.14267.14
(=) Excess Retained per Share1.161.311.42
LTM Dividend per Share0.530.530.53
(+) Excess Retained per Share1.161.311.42
(=) Adjusted Dividend1.681.841.95
WACC / Discount Rate3.85%3.85%3.85%
Growth Rate-0.87%0.13%1.13%
Fair Value$35.35$49.54$72.34
Upside / Downside0.07%40.27%104.81%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)562.09562.82563.56564.29565.02565.76582.73
Payout Ratio25.07%38.05%51.04%64.03%77.01%90.00%92.50%
Projected Dividends (M)140.89214.17287.64361.29435.14509.18539.03

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate3.85%3.85%3.85%
Growth Rate-0.87%0.13%1.13%
Year 1 PV (M)204.17206.23208.29
Year 2 PV (M)261.40266.70272.05
Year 3 PV (M)313.01322.57332.34
Year 4 PV (M)359.38374.10389.27
Year 5 PV (M)400.89421.52443.00
PV of Terminal Value (M)42,438.6744,622.8546,896.05
Equity Value (M)43,977.5146,213.9848,540.99
Shares Outstanding (M)267.14267.14267.14
Fair Value$164.62$172.99$181.70
Upside / Downside366.09%389.79%414.45%

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