Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wiit S.p.A. (WIIT.MI)

Company Dividend Discount ModelIndustry: Software - InfrastructureSector: Technology

Valuation Snapshot

Stable Growth$14.68 - $75.59$29.88
Multi-Stage$8.50 - $9.28$8.88
Blended Fair Value$19.38
Current Price$15.46
Upside25.38%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS27.44%0.00%0.300.300.320.120.160.090.080.030.010.02
YoY Growth--0.12%-6.56%163.15%-22.66%76.55%9.51%136.25%361.54%-69.81%0.00%
Dividend Yield--2.13%1.72%1.60%0.41%1.02%1.04%1.64%0.66%0.15%0.49%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)9.89
(-) Cash Dividends Paid (M)7.79
(=) Cash Retained (M)2.10
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.981.240.74
Cash Retained (M)2.102.102.10
(-) Cash Required (M)-1.98-1.24-0.74
(=) Excess Retained (M)0.120.871.36
(/) Shares Outstanding (M)26.0226.0226.02
(=) Excess Retained per Share0.000.030.05
LTM Dividend per Share0.300.300.30
(+) Excess Retained per Share0.000.030.05
(=) Adjusted Dividend0.300.330.35
WACC / Discount Rate7.69%7.69%7.69%
Growth Rate5.50%6.50%7.50%
Fair Value$14.68$29.88$75.59
Upside / Downside-5.05%93.29%388.94%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9.8910.5311.2211.9512.7213.5513.96
Payout Ratio78.75%81.00%83.25%85.50%87.75%90.00%92.50%
Projected Dividends (M)7.798.539.3410.2111.1612.1912.91

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.69%7.69%7.69%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)7.857.928.00
Year 2 PV (M)7.908.058.20
Year 3 PV (M)7.958.188.41
Year 4 PV (M)8.008.308.62
Year 5 PV (M)8.038.428.82
PV of Terminal Value (M)181.52190.28199.39
Equity Value (M)221.25231.16241.44
Shares Outstanding (M)26.0226.0226.02
Fair Value$8.50$8.88$9.28
Upside / Downside-45.00%-42.54%-39.98%

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