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G. Willi-Food International Ltd. (WILC)

Company Dividend Discount ModelIndustry: Food DistributionSector: Consumer Defensive

Valuation Snapshot

Stable Growth$115.59 - $235.50$161.74
Multi-Stage$175.12 - $192.18$183.49
Blended Fair Value$172.61
Current Price$67.76
Upside154.74%
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 Rate6.34%6.34%6.34%
Growth Rate1.59%2.59%3.59%
Fair Value$115.59$161.74$235.50
Upside / Downside70.58%138.70%247.56%

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 Rate6.34%6.34%6.34%
Growth Rate1.59%2.59%3.59%
Year 1 PV (M)54.4454.9855.51
Year 2 PV (M)58.4659.6260.78
Year 3 PV (M)62.0163.8665.75
Year 4 PV (M)65.1367.7370.41
Year 5 PV (M)67.8571.2574.79
PV of Terminal Value (M)2,149.212,257.092,369.26
Equity Value (M)2,457.102,574.532,696.50
Shares Outstanding (M)14.0314.0314.03
Fair Value$175.12$183.49$192.18
Upside / Downside158.44%170.79%183.62%

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