Definitive Analysis
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Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Acciona, S.A. (ANA.MC)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$1,401.65 - $3,039.18$2,848.16
Multi-Stage$457.19 - $500.53$478.46
Blended Fair Value$1,663.31
Current Price$152.80
Upside988.55%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS11.66%39.10%6.124.544.133.931.943.523.163.773.472.32
YoY Growth--34.82%9.78%5.14%102.65%-44.95%11.67%-16.20%8.39%49.70%929.20%
Dividend Yield--5.06%4.13%2.24%2.27%1.36%3.62%3.18%6.10%4.62%3.41%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)832.00
(-) Cash Dividends Paid (M)266.00
(=) Cash Retained (M)566.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)166.40104.0062.40
Cash Retained (M)566.00566.00566.00
(-) Cash Required (M)-166.40-104.00-62.40
(=) Excess Retained (M)399.60462.00503.60
(/) Shares Outstanding (M)54.4454.4454.44
(=) Excess Retained per Share7.348.499.25
LTM Dividend per Share4.894.894.89
(+) Excess Retained per Share7.348.499.25
(=) Adjusted Dividend12.2313.3714.14
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate5.50%6.50%7.50%
Fair Value$1,401.65$2,848.16$3,039.18
Upside / Downside817.31%1,763.98%1,888.99%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)832.00886.08943.681,005.011,070.341,139.911,174.11
Payout Ratio31.97%43.58%55.18%66.79%78.39%90.00%92.50%
Projected Dividends (M)266.00386.13520.75671.23839.081,025.921,086.05

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)359.43362.83366.24
Year 2 PV (M)451.21459.81468.48
Year 3 PV (M)541.39556.93572.77
Year 4 PV (M)629.97654.20679.12
Year 5 PV (M)716.98751.61787.57
PV of Terminal Value (M)22,191.8523,263.7224,376.62
Equity Value (M)24,890.8326,049.1127,250.80
Shares Outstanding (M)54.4454.4454.44
Fair Value$457.19$478.46$500.53
Upside / Downside199.21%213.13%227.57%

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