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Flanigan's Enterprises, Inc. (BDL)

Company Dividend Discount ModelIndustry: RestaurantsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$54.53 - $144.66$83.39
Multi-Stage$37.21 - $40.66$38.90
Blended Fair Value$61.14
Current Price$35.18
Upside73.80%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.31%0.00%0.500.451.000.000.000.280.250.200.190.15
YoY Growth--10.86%-54.90%0.00%0.00%-100.00%11.83%25.00%8.14%23.30%0.00%
Dividend Yield--1.99%1.75%3.86%0.00%0.00%1.24%0.97%0.85%0.76%0.69%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4.32
(-) Cash Dividends Paid (M)0.93
(=) Cash Retained (M)3.39
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.860.540.32
Cash Retained (M)3.393.393.39
(-) Cash Required (M)-0.86-0.54-0.32
(=) Excess Retained (M)2.532.853.07
(/) Shares Outstanding (M)1.861.861.86
(=) Excess Retained per Share1.361.531.65
LTM Dividend per Share0.500.500.50
(+) Excess Retained per Share1.361.531.65
(=) Adjusted Dividend1.862.032.15
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.50%6.50%7.50%
Fair Value$54.53$83.39$144.66
Upside / Downside55.01%137.03%311.21%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4.324.604.905.225.565.926.10
Payout Ratio21.50%35.20%48.90%62.60%76.30%90.00%92.50%
Projected Dividends (M)0.931.622.403.274.245.335.64

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1.471.481.50
Year 2 PV (M)1.982.012.05
Year 3 PV (M)2.452.522.59
Year 4 PV (M)2.882.993.11
Year 5 PV (M)3.293.453.61
PV of Terminal Value (M)57.0959.8562.71
Equity Value (M)69.1572.3075.57
Shares Outstanding (M)1.861.861.86
Fair Value$37.21$38.90$40.66
Upside / Downside5.76%10.58%15.57%

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