Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

WAM Research Limited (WAX.AX)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$14.38 - $24.04$18.63
Multi-Stage$23.13 - $25.43$24.26
Blended Fair Value$21.44
Current Price$1.11
Upside1,831.67%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS2.32%6.87%0.080.080.080.080.080.080.070.070.060.05
YoY Growth--3.20%2.53%2.51%1.53%1.86%4.69%6.68%13.77%15.08%18.45%
Dividend Yield--7.62%7.66%7.54%6.00%4.66%5.71%5.30%4.47%3.93%3.82%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)247.52
(-) Cash Dividends Paid (M)25.58
(=) Cash Retained (M)221.94
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)49.5030.9418.56
Cash Retained (M)221.94221.94221.94
(-) Cash Required (M)-49.50-30.94-18.56
(=) Excess Retained (M)172.44191.00203.38
(/) Shares Outstanding (M)203.64203.64203.64
(=) Excess Retained per Share0.850.941.00
LTM Dividend per Share0.130.130.13
(+) Excess Retained per Share0.850.941.00
(=) Adjusted Dividend0.971.061.12
WACC / Discount Rate7.11%7.11%7.11%
Growth Rate0.32%1.32%2.32%
Fair Value$14.38$18.63$24.04
Upside / Downside1,195.26%1,578.13%2,065.91%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)247.52250.80254.12257.49260.90264.35272.28
Payout Ratio10.33%26.27%42.20%58.13%74.07%90.00%92.50%
Projected Dividends (M)25.5865.88107.24149.69193.24237.92251.86

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.11%7.11%7.11%
Growth Rate0.32%1.32%2.32%
Year 1 PV (M)60.9061.5162.11
Year 2 PV (M)91.6493.4895.33
Year 3 PV (M)118.24121.81125.46
Year 4 PV (M)141.11146.82152.70
Year 5 PV (M)160.60168.76177.26
PV of Terminal Value (M)4,136.754,347.074,565.85
Equity Value (M)4,709.244,939.455,178.71
Shares Outstanding (M)203.64203.64203.64
Fair Value$23.13$24.26$25.43
Upside / Downside1,983.37%2,085.22%2,191.07%

High-Yield Dividend Screener

« Prev Page 2 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
0081.HKChina Overseas Grand Oceans Group Limited15.97%$0.3160.87%
QRF.BRQrf Comm. VA15.92%$1.6488.42%
INC-UN.TOIncome Financial Trust15.90%$1.4843.23%
QRI.AXQualitas Real Estate Income Fund15.90%$0.2594.00%
9172.KLFormosa Prosonic Industries Berhad15.89%$0.1872.55%
1099.HKSinopharm Group Co. Ltd.15.88%$3.1363.13%
XBBDC.MCBanco Bradesco S.A.15.82%$0.4623.31%
LPIN.JKPT Multi Prima Sejahtera Tbk15.59%$69.5396.86%
LFG.AXLiberty Financial Group Limited15.46%$0.6679.98%
ALPDX.PAPiscines Desjoyaux S.A.15.43%$2.0088.06%
2660.HKZengame Technology Holding Limited15.29%$0.3942.93%
CD3.AXCD Private Equity Fund III15.14%$0.1791.41%
PAGSPagSeguro Digital Ltd.15.12%$1.4619.46%
0912.HKSuga International Holdings Limited15.10%$0.1669.91%
RUI.PARubis15.03%$4.8772.73%
WAM.AXWAM Capital Limited15.01%$0.2767.95%
0113.HKDickson Concepts (International) Limited15.00%$0.8467.46%
0830.HKChina State Construction Development Holdings Limited14.96%$0.1834.59%
FFARM.ASForFarmers N.V.14.96%$0.6785.82%
BM.BKBangkok Sheet Metal Public Company Limited14.94%$0.1777.02%
DGS.TODividend Growth Split Corp.14.90%$1.1529.30%
6110.HKTopsports International Holdings Limited14.83%$0.4376.21%
GLB.AXGlobe International Limited14.83%$0.3872.14%
MOT.AXMetrics Income Opportunities Trust14.82%$0.2879.33%
CIQ-UN.TOCanadian High Income Equity Fund14.80%$1.0424.28%
BBVA.DEBanco Bilbao Vizcaya Argentaria, S.A.14.69%$0.6438.92%
601169.SSBank of Beijing Co., Ltd.14.63%$0.8064.51%
0184.HKKeck Seng Investments (Hong Kong) Limited14.62%$0.3123.90%
0881.HKZhongsheng Group Holdings Limited14.56%$1.7065.93%
6626.HKYuexiu Services Group Limited14.51%$0.3664.32%
ALNU.MEPJSC ALROSA-Nyurba14.51%$9,491.6654.89%
NONG.OLSpareBank 1 Nord-Norge14.36%$21.7372.60%
0640.HKInfinity Development Holdings Company Limited14.32%$0.3651.92%
2558.HKJinshang Bank Co., Ltd.14.28%$0.2031.14%
0270.HKGuangdong Investment Limited14.27%$0.9899.44%
0517.HKCOSCO SHIPPING International (Hong Kong) Co., Ltd.14.01%$0.8888.71%
2560.HKAnhui Conch Material Technology Co Ltd14.01%$0.2449.79%
WTCM.MEJoint Stock Company "World Trade Center Moscow"13.98%$1.9924.33%
6186.HKChina Feihe Limited13.94%$0.5681.20%
601186.SSChina Railway Construction Corporation Limited13.92%$1.0764.40%
CFEB.BRCompagnie d'Entreprises CFE S.A.13.92%$1.2171.32%
PMV.AXPremier Investments Limited13.92%$1.9251.67%
601229.SSBank of Shanghai Co., Ltd.13.82%$1.4093.74%
2120.HKWenzhou Kangning Hospital Co., Ltd.13.78%$1.3769.01%
DLNGDynagas LNG Partners LP13.72%$0.5131.08%
MXT.AXMetrics Master Income Trust13.71%$0.2785.17%
0085.HKChina Electronics Huada Technology Company Limited13.70%$0.1947.52%
0046.HKComputer And Technologies Holdings Limited13.69%$0.2285.50%
601328.SSBank of Communications Co., Ltd.13.66%$0.9992.22%
AKER.OLAker ASA13.66%$106.4372.10%