Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

H&K AG (MLHK.PA)

Company Dividend Discount ModelIndustry: Aerospace & DefenseSector: Industrials

Valuation Snapshot

Stable Growth$32.06 - $159.52$57.25
Multi-Stage$18.98 - $20.78$19.86
Blended Fair Value$38.56
Current Price$49.00
Upside-21.32%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.030.040.000.000.000.000.000.000.000.00
YoY Growth---13.39%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.02%0.03%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)35.38
(-) Cash Dividends Paid (M)1.23
(=) Cash Retained (M)34.15
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7.084.422.65
Cash Retained (M)34.1534.1534.15
(-) Cash Required (M)-7.08-4.42-2.65
(=) Excess Retained (M)27.0729.7331.50
(/) Shares Outstanding (M)35.5335.5335.53
(=) Excess Retained per Share0.760.840.89
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.760.840.89
(=) Adjusted Dividend0.800.870.92
WACC / Discount Rate8.10%8.10%8.10%
Growth Rate5.48%6.48%7.48%
Fair Value$32.06$57.25$159.52
Upside / Downside-34.56%16.83%225.54%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)35.3837.6740.1142.7145.4848.4249.88
Payout Ratio3.47%20.78%38.08%55.39%72.69%90.00%92.50%
Projected Dividends (M)1.237.8315.2823.6633.0643.5846.13

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.10%8.10%8.10%
Growth Rate5.48%6.48%7.48%
Year 1 PV (M)7.177.247.31
Year 2 PV (M)12.8313.0713.32
Year 3 PV (M)18.2018.7319.26
Year 4 PV (M)23.3124.2125.13
Year 5 PV (M)28.1629.5230.94
PV of Terminal Value (M)584.66612.90642.23
Equity Value (M)674.34705.68738.19
Shares Outstanding (M)35.5335.5335.53
Fair Value$18.98$19.86$20.78
Upside / Downside-61.26%-59.46%-57.60%

High-Yield Dividend Screener

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