Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

IMCO Industries Ltd. (IMCO.TA)

Company Dividend Discount ModelIndustry: Aerospace & DefenseSector: Industrials

Valuation Snapshot

Stable Growth$271.84 - $1,384.25$558.64
Multi-Stage$152.48 - $166.62$159.42
Blended Fair Value$359.03
Current Price$63.29
Upside467.28%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%-6.16%0.890.000.000.350.000.000.000.560.600.60
YoY Growth--0.00%0.00%-100.00%0.00%0.00%0.00%-100.00%-6.67%0.00%-64.71%
Dividend Yield--2.63%0.00%0.00%2.14%0.00%0.00%0.00%3.41%3.40%3.36%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)35.08
(-) Cash Dividends Paid (M)16.97
(=) Cash Retained (M)18.11
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7.024.392.63
Cash Retained (M)18.1118.1118.11
(-) Cash Required (M)-7.02-4.39-2.63
(=) Excess Retained (M)11.0913.7215.48
(/) Shares Outstanding (M)5.045.045.04
(=) Excess Retained per Share2.202.723.07
LTM Dividend per Share3.373.373.37
(+) Excess Retained per Share2.202.723.07
(=) Adjusted Dividend5.576.096.44
WACC / Discount Rate7.66%7.66%7.66%
Growth Rate5.50%6.50%7.50%
Fair Value$271.84$558.64$1,384.25
Upside / Downside329.51%782.67%2,087.15%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)35.0837.3639.7942.3745.1348.0649.50
Payout Ratio48.38%56.70%65.03%73.35%81.68%90.00%92.50%
Projected Dividends (M)16.9721.1825.8731.0836.8643.2645.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.66%7.66%7.66%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)19.4919.6819.86
Year 2 PV (M)21.9122.3222.74
Year 3 PV (M)24.2124.9125.62
Year 4 PV (M)26.4227.4428.48
Year 5 PV (M)28.5329.9131.34
PV of Terminal Value (M)647.92679.22711.71
Equity Value (M)768.48803.47839.75
Shares Outstanding (M)5.045.045.04
Fair Value$152.48$159.42$166.62
Upside / Downside140.92%151.89%163.26%

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