Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Excelsior Alimentos S.A. (BAUH4.SA)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$463.89 - $1,063.22$996.38
Multi-Stage$163.48 - $179.08$171.14
Blended Fair Value$583.76
Current Price$86.96
Upside571.29%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS17.53%19.23%0.781.150.390.940.620.350.600.110.080.33
YoY Growth---32.28%191.29%-58.33%52.93%78.37%-42.14%468.18%38.89%-76.91%145.70%
Dividend Yield--0.98%1.44%0.49%1.25%0.67%0.43%2.41%0.69%0.86%5.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)27.96
(-) Cash Dividends Paid (M)6.12
(=) Cash Retained (M)21.84
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.593.502.10
Cash Retained (M)21.8421.8421.84
(-) Cash Required (M)-5.59-3.50-2.10
(=) Excess Retained (M)16.2518.3519.75
(/) Shares Outstanding (M)5.225.225.22
(=) Excess Retained per Share3.113.513.78
LTM Dividend per Share1.171.171.17
(+) Excess Retained per Share3.113.513.78
(=) Adjusted Dividend4.284.684.95
WACC / Discount Rate6.31%6.31%6.31%
Growth Rate5.34%6.34%7.34%
Fair Value$463.89$996.38$1,063.22
Upside / Downside433.45%1,045.79%1,122.65%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)27.9629.7331.6233.6235.7538.0239.16
Payout Ratio21.88%35.50%49.13%62.75%76.38%90.00%92.50%
Projected Dividends (M)6.1210.5615.5321.1027.3034.2136.22

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.31%6.31%6.31%
Growth Rate5.34%6.34%7.34%
Year 1 PV (M)9.849.9310.02
Year 2 PV (M)13.4913.7414.00
Year 3 PV (M)17.0717.5618.06
Year 4 PV (M)20.5821.3822.19
Year 5 PV (M)24.0325.2026.40
PV of Terminal Value (M)768.70805.89844.50
Equity Value (M)853.71893.69935.18
Shares Outstanding (M)5.225.225.22
Fair Value$163.48$171.14$179.08
Upside / Downside88.00%96.80%105.94%

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