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Samse S.A. (SAMS.PA)

Company Dividend Discount ModelIndustry: Industrial - DistributionSector: Industrials

Valuation Snapshot

Stable Growth$453.20 - $1,358.98$718.55
Multi-Stage$483.37 - $529.63$506.07
Blended Fair Value$612.31
Current Price$155.00
Upside295.04%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS32.09%17.29%10.1616.2016.198.0716.152.532.522.222.122.12
YoY Growth---37.30%0.05%100.54%-50.01%539.28%0.06%13.61%4.79%0.00%2.85%
Dividend Yield--7.05%8.02%8.63%3.92%10.69%1.49%1.93%1.30%1.45%1.89%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)61.78
(-) Cash Dividends Paid (M)34.70
(=) Cash Retained (M)27.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)12.367.724.63
Cash Retained (M)27.0827.0827.08
(-) Cash Required (M)-12.36-7.72-4.63
(=) Excess Retained (M)14.7319.3622.45
(/) Shares Outstanding (M)3.423.423.42
(=) Excess Retained per Share4.315.676.57
LTM Dividend per Share10.1610.1610.16
(+) Excess Retained per Share4.315.676.57
(=) Adjusted Dividend14.4715.8316.73
WACC / Discount Rate6.50%6.50%6.50%
Growth Rate3.21%4.21%5.21%
Fair Value$453.20$718.55$1,358.98
Upside / Downside192.39%363.58%776.76%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)61.7864.3867.0969.9172.8575.9178.19
Payout Ratio56.16%62.93%69.70%76.47%83.23%90.00%92.50%
Projected Dividends (M)34.7040.5146.7653.4660.6368.3272.32

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.50%6.50%6.50%
Growth Rate3.21%4.21%5.21%
Year 1 PV (M)37.6838.0438.41
Year 2 PV (M)40.4441.2242.02
Year 3 PV (M)42.9944.2545.54
Year 4 PV (M)45.3547.1348.97
Year 5 PV (M)47.5249.8652.30
PV of Terminal Value (M)1,437.021,508.001,581.76
Equity Value (M)1,650.991,728.521,809.00
Shares Outstanding (M)3.423.423.42
Fair Value$483.37$506.07$529.63
Upside / Downside211.85%226.49%241.70%

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