Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Elevate Credit, Inc. (ELVT)

Company Dividend Discount ModelIndustry: Financial - Credit ServicesSector: Financial Services

Valuation Snapshot

Stable Growth$2.55 - $3.96$3.20
Multi-Stage$6.05 - $6.65$6.34
Blended Fair Value$4.77
Current Price$1.75
Upside172.65%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202120202019201820172016201520142013
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%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)9.70
(-) Cash Dividends Paid (M)7.37
(=) Cash Retained (M)2.34
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.941.210.73
Cash Retained (M)2.342.342.34
(-) Cash Required (M)-1.94-1.21-0.73
(=) Excess Retained (M)0.401.121.61
(/) Shares Outstanding (M)35.8435.8435.84
(=) Excess Retained per Share0.010.030.04
LTM Dividend per Share0.210.210.21
(+) Excess Retained per Share0.010.030.04
(=) Adjusted Dividend0.220.240.25
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate-2.00%-1.00%0.00%
Fair Value$2.55$3.20$3.96
Upside / Downside45.60%82.83%126.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9.709.609.519.419.329.239.50
Payout Ratio75.91%78.73%81.55%84.36%87.18%90.00%92.50%
Projected Dividends (M)7.377.567.757.948.138.308.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)7.047.117.18
Year 2 PV (M)6.726.867.00
Year 3 PV (M)6.416.616.81
Year 4 PV (M)6.106.366.62
Year 5 PV (M)5.816.116.42
PV of Terminal Value (M)184.68194.30204.32
Equity Value (M)216.77227.35238.35
Shares Outstanding (M)35.8435.8435.84
Fair Value$6.05$6.34$6.65
Upside / Downside245.59%262.46%280.00%

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