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The Gabelli Global Small and Mid Cap Value Trust (GGZ)

Company Dividend Discount ModelIndustry: Asset Management - GlobalSector: Financial Services

Valuation Snapshot

Stable Growth$18.97 - $27.31$23.04
Multi-Stage$31.57 - $34.63$33.07
Blended Fair Value$28.06
Current Price$13.32
Upside110.63%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.640.671.131.130.000.000.000.000.000.00
YoY Growth---4.36%-40.40%-0.42%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--5.50%5.74%10.06%7.13%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)22.05
(-) Cash Dividends Paid (M)10.59
(=) Cash Retained (M)11.46
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4.412.761.65
Cash Retained (M)11.4611.4611.46
(-) Cash Required (M)-4.41-2.76-1.65
(=) Excess Retained (M)7.058.709.80
(/) Shares Outstanding (M)8.218.218.21
(=) Excess Retained per Share0.861.061.19
LTM Dividend per Share1.291.291.29
(+) Excess Retained per Share0.861.061.19
(=) Adjusted Dividend2.152.352.48
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$18.97$23.04$27.31
Upside / Downside42.44%72.97%105.01%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)22.0521.8321.6121.3921.1820.9721.60
Payout Ratio48.03%56.42%64.82%73.21%81.61%90.00%92.50%
Projected Dividends (M)10.5912.3214.0115.6617.2818.8719.98

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)11.1711.2911.40
Year 2 PV (M)11.5311.7712.01
Year 3 PV (M)11.7012.0612.43
Year 4 PV (M)11.7112.2012.70
Year 5 PV (M)11.6112.2112.84
PV of Terminal Value (M)201.47211.96222.89
Equity Value (M)259.20271.49284.27
Shares Outstanding (M)8.218.218.21
Fair Value$31.57$33.07$34.63
Upside / Downside137.04%148.29%159.97%

High-Yield Dividend Screener

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