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G. Willi-Food International Ltd. (WILC)

Company Dividend Discount ModelIndustry: Food DistributionSector: Consumer Defensive

Valuation Snapshot

Stable Growth$116.03 - $237.06$162.52
Multi-Stage$176.09 - $193.25$184.51
Blended Fair Value$173.51
Current Price$67.76
Upside156.07%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.712.853.914.270.000.000.000.001.370.00
YoY Growth---75.01%-27.25%-8.45%0.00%0.00%0.00%0.00%-100.00%0.00%0.00%
Dividend Yield--1.32%7.45%7.39%7.35%0.00%0.00%0.00%0.00%6.25%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)94.72
(-) Cash Dividends Paid (M)49.92
(=) Cash Retained (M)44.80
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18.9411.847.10
Cash Retained (M)44.8044.8044.80
(-) Cash Required (M)-18.94-11.84-7.10
(=) Excess Retained (M)25.8632.9637.70
(/) Shares Outstanding (M)14.0314.0314.03
(=) Excess Retained per Share1.842.352.69
LTM Dividend per Share3.563.563.56
(+) Excess Retained per Share1.842.352.69
(=) Adjusted Dividend5.405.916.24
WACC / Discount Rate6.32%6.32%6.32%
Growth Rate1.59%2.59%3.59%
Fair Value$116.03$162.52$237.06
Upside / Downside71.23%139.85%249.85%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)94.7297.1899.70102.29104.94107.66110.89
Payout Ratio52.70%60.16%67.62%75.08%82.54%90.00%92.50%
Projected Dividends (M)49.9258.4667.4276.8086.6296.90102.58

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.32%6.32%6.32%
Growth Rate1.59%2.59%3.59%
Year 1 PV (M)54.4554.9955.52
Year 2 PV (M)58.4859.6460.81
Year 3 PV (M)62.0463.8965.78
Year 4 PV (M)65.1767.7870.46
Year 5 PV (M)67.9071.3174.86
PV of Terminal Value (M)2,162.682,271.242,384.10
Equity Value (M)2,470.732,588.842,711.53
Shares Outstanding (M)14.0314.0314.03
Fair Value$176.09$184.51$193.25
Upside / Downside159.87%172.30%185.20%

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