Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

T. Rowe Price Tax-Free Income Fd (PRTAX)

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

Valuation Snapshot

Stable Growth$0.05 - $0.06$0.06
Multi-Stage$0.11 - $0.12$0.11
Blended Fair Value$0.08
Current Price$8.69
Upside-99.02%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS0.00%-9.21%0.010.020.010.020.020.000.030.030.030.03
YoY Growth---29.67%13.25%-16.85%-11.44%0.00%-100.00%-14.40%4.49%-1.21%0.55%
Dividend Yield--0.13%0.17%0.14%0.16%0.18%0.00%0.26%0.31%0.28%0.28%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3.08
(-) Cash Dividends Paid (M)2.74
(=) Cash Retained (M)0.34
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.620.380.23
Cash Retained (M)0.340.340.34
(-) Cash Required (M)-0.62-0.38-0.23
(=) Excess Retained (M)-0.28-0.050.11
(/) Shares Outstanding (M)243.11243.11243.11
(=) Excess Retained per Share0.000.000.00
LTM Dividend per Share0.010.010.01
(+) Excess Retained per Share0.000.000.00
(=) Adjusted Dividend0.010.010.01
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-10.02%-9.02%-8.02%
Fair Value$0.05$0.06$0.06
Upside / Downside-99.45%-99.36%-99.28%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3.082.802.552.322.111.921.98
Payout Ratio89.04%89.23%89.43%89.62%89.81%90.00%92.50%
Projected Dividends (M)2.742.502.282.081.891.731.83

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-10.02%-9.02%-8.02%
Year 1 PV (M)2.272.292.32
Year 2 PV (M)1.871.911.96
Year 3 PV (M)1.551.601.65
Year 4 PV (M)1.281.341.40
Year 5 PV (M)1.061.121.18
PV of Terminal Value (M)18.3619.4020.49
Equity Value (M)26.3927.6729.00
Shares Outstanding (M)243.11243.11243.11
Fair Value$0.11$0.11$0.12
Upside / Downside-98.75%-98.69%-98.63%

High-Yield Dividend Screener

« Prev Page 17 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
SAHSonic Automotive, Inc.2.13%$1.3135.28%
AIG-PAAmerican International Group, Inc.2.12%$1.6930.01%
LANCLancaster Colony Corporation2.11%$3.8261.80%
TDACTranslational Development Acquisition Corp.2.10%$0.2279.86%
FASTFastenal Company2.09%$0.8579.50%
FDUSFidus Investment Corporation2.09%$0.4117.86%
IBOCInternational Bancshares Corporation2.09%$1.4020.70%
SMRSXALPS/Smith Short Duration Bond Investor2.09%$0.2298.81%
SSSSSuRo Capital Corp.2.09%$0.208.46%
MLRMiller Industries, Inc.2.08%$0.7830.00%
OACCOaktree Acquisition Corp. III Life Sciences2.08%$0.2261.74%
FCCOFirst Community Corporation2.07%$0.6025.08%
GNTXGentex Corporation2.07%$0.4928.42%
OACCUOaktree Acquisition Corp. III Life Sciences Unit2.07%$0.2261.74%
DLBDolby Laboratories, Inc.2.06%$1.3149.64%
APOGApogee Enterprises, Inc.2.05%$0.7737.24%
CAKEThe Cheesecake Factory Incorporated2.05%$1.0832.74%
EWBCEast West Bancorp, Inc.2.05%$2.3625.97%
ALFCenturion Acquisition Corp.2.04%$0.2251.38%
ATOAtmos Energy Corporation2.04%$3.4546.19%
OVLYOak Valley Bancorp2.04%$0.6129.73%
0HYE.LCincinnati Financial Corporation2.03%$3.2824.36%
AOSA. O. Smith Corporation2.03%$1.3936.68%
ACTEnact Holdings, Inc.2.02%$0.8018.03%
ARKOArko Corp.2.02%$0.0955.86%
KFYKorn Ferry2.02%$1.3426.97%
0H68.LAflac Incorporated2.01%$2.2028.14%
LENLennar Corporation2.01%$2.1025.46%
AVYAvery Dennison Corporation2.00%$3.6641.17%
RHLDResolute Holdings Management, Inc.2.00%$3.7422.61%
ALFUUCenturion Acquisition Corp. Unit1.99%$0.2251.38%
GNTYGuaranty Bancshares, Inc.1.99%$0.9730.69%
NCNACCO Industries, Inc.1.99%$0.9524.54%
QCOMQUALCOMM Incorporated1.99%$3.4468.67%
THGThe Hanover Insurance Group, Inc.1.98%$3.5520.46%
CNMDCONMED Corporation1.97%$0.8038.60%
FBINFortune Brands Innovations, Inc.1.97%$1.0036.69%
FEIMFrequency Electronics, Inc.1.97%$1.0046.25%
RPMRPM International Inc.1.97%$2.0437.93%
BNJBrookfield Finance Inc. 4.50% P1.96%$0.3070.51%
MTGMGIC Investment Corporation1.96%$0.5717.51%
CCSCentury Communities, Inc.1.95%$1.1516.06%
0K6F.LNetApp, Inc.1.94%$2.0735.51%
BLKBlackRock, Inc.1.94%$21.0053.94%
FNB-PEF.N.B. Corporation1.94%$0.4834.55%
0L4F.LSealed Air Corporation1.93%$0.8030.13%
AEOAmerican Eagle Outfitters, Inc.1.93%$0.5142.14%
SLGNSilgan Holdings Inc.1.93%$0.8026.98%
FSFGFirst Savings Financial Group, Inc.1.92%$0.6123.93%
GENGen Digital Inc.1.92%$0.5054.91%