Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Inchcape plc (INCH.L)

Company Dividend Discount ModelIndustry: Auto - DealershipsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$35.01 - $83.93$51.84
Multi-Stage$37.77 - $41.39$39.54
Blended Fair Value$45.69
Current Price$7.26
Upside529.35%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.87%6.08%0.360.310.220.130.000.270.280.250.220.22
YoY Growth--14.84%44.31%69.92%0.00%-100.00%-4.08%12.17%13.86%-0.99%11.78%
Dividend Yield--4.66%4.37%2.64%1.40%0.00%3.82%5.10%3.16%3.14%2.83%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)683.90
(-) Cash Dividends Paid (M)253.10
(=) Cash Retained (M)430.80
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)136.7885.4951.29
Cash Retained (M)430.80430.80430.80
(-) Cash Required (M)-136.78-85.49-51.29
(=) Excess Retained (M)294.02345.31379.51
(/) Shares Outstanding (M)409.55409.55409.55
(=) Excess Retained per Share0.720.840.93
LTM Dividend per Share0.620.620.62
(+) Excess Retained per Share0.720.840.93
(=) Adjusted Dividend1.341.461.54
WACC / Discount Rate7.04%7.04%7.04%
Growth Rate3.10%4.10%5.10%
Fair Value$35.01$51.84$83.93
Upside / Downside382.20%614.00%1,056.00%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)683.90711.95741.16771.56803.21836.16861.24
Payout Ratio37.01%47.61%58.21%68.80%79.40%90.00%92.50%
Projected Dividends (M)253.10338.94431.39530.86637.76752.54796.65

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.04%7.04%7.04%
Growth Rate3.10%4.10%5.10%
Year 1 PV (M)313.61316.66319.70
Year 2 PV (M)369.34376.54383.81
Year 3 PV (M)420.54432.90445.49
Year 4 PV (M)467.48485.88504.82
Year 5 PV (M)510.40535.64561.87
PV of Terminal Value (M)13,385.9714,047.8514,735.65
Equity Value (M)15,467.3516,195.4616,951.33
Shares Outstanding (M)409.55409.55409.55
Fair Value$37.77$39.54$41.39
Upside / Downside420.21%444.70%470.12%

High-Yield Dividend Screener

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