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Derichebourg S.A. (DBG.PA)

Company Dividend Discount ModelIndustry: Waste ManagementSector: Industrials

Valuation Snapshot

Stable Growth$38.64 - $167.41$67.09
Multi-Stage$32.79 - $35.95$34.34
Blended Fair Value$50.71
Current Price$5.40
Upside839.15%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS2.63%9.92%0.160.320.320.000.110.140.140.020.050.00
YoY Growth---50.00%0.00%0.00%-100.00%-21.88%-2.18%663.33%-61.04%0.00%-100.00%
Dividend Yield--3.03%6.70%7.77%0.00%4.34%4.39%3.15%0.21%1.71%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)203.40
(-) Cash Dividends Paid (M)46.20
(=) Cash Retained (M)157.20
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)40.6825.4315.26
Cash Retained (M)157.20157.20157.20
(-) Cash Required (M)-40.68-25.43-15.26
(=) Excess Retained (M)116.52131.78141.95
(/) Shares Outstanding (M)159.31159.31159.31
(=) Excess Retained per Share0.730.830.89
LTM Dividend per Share0.290.290.29
(+) Excess Retained per Share0.730.830.89
(=) Adjusted Dividend1.021.121.18
WACC / Discount Rate6.67%6.67%6.67%
Growth Rate3.92%4.92%5.92%
Fair Value$38.64$67.09$167.41
Upside / Downside615.51%1,142.34%3,000.21%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)203.40213.41223.91234.93246.49258.62266.38
Payout Ratio22.71%36.17%49.63%63.09%76.54%90.00%92.50%
Projected Dividends (M)46.2077.19111.12148.21188.67232.76246.40

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.67%6.67%6.67%
Growth Rate3.92%4.92%5.92%
Year 1 PV (M)71.6872.3773.06
Year 2 PV (M)95.8197.6699.53
Year 3 PV (M)118.65122.11125.64
Year 4 PV (M)140.26145.74151.37
Year 5 PV (M)160.67168.55176.74
PV of Terminal Value (M)4,636.994,864.435,100.71
Equity Value (M)5,224.075,470.865,727.05
Shares Outstanding (M)159.31159.31159.31
Fair Value$32.79$34.34$35.95
Upside / Downside507.26%535.95%565.73%

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