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GSR II Meteora Acquisition Corp. (GSRM)

Company Dividend Discount ModelIndustry: Shell CompaniesSector: Financial Services

Valuation Snapshot

Stable Growth$6.08 - $8.75$7.38
Multi-Stage$9.91 - $10.88$10.39
Blended Fair Value$8.88
Current Price$3.23
Upside175.05%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)30.72
(-) Cash Dividends Paid (M)10.12
(=) Cash Retained (M)20.60
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6.143.842.30
Cash Retained (M)20.6020.6020.60
(-) Cash Required (M)-6.14-3.84-2.30
(=) Excess Retained (M)14.4616.7618.30
(/) Shares Outstanding (M)35.7835.7835.78
(=) Excess Retained per Share0.400.470.51
LTM Dividend per Share0.280.280.28
(+) Excess Retained per Share0.400.470.51
(=) Adjusted Dividend0.690.750.79
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Fair Value$6.08$7.38$8.75
Upside / Downside88.08%128.43%170.78%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)30.7230.4130.1129.8029.5129.2130.09
Payout Ratio32.94%44.35%55.76%67.17%78.59%90.00%92.50%
Projected Dividends (M)10.1213.4916.7920.0223.1926.2927.83

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)12.2412.3612.49
Year 2 PV (M)13.8314.1114.40
Year 3 PV (M)14.9615.4315.90
Year 4 PV (M)15.7316.3817.05
Year 5 PV (M)16.1817.0217.90
PV of Terminal Value (M)281.75296.42311.69
Equity Value (M)354.68371.72389.43
Shares Outstanding (M)35.7835.7835.78
Fair Value$9.91$10.39$10.88
Upside / Downside206.92%221.67%236.99%

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