Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

JPMorgan Global Emerging Markets Income Trust plc (JEMI.L)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$2.23 - $3.32$2.75
Multi-Stage$4.26 - $4.68$4.46
Blended Fair Value$3.61
Current Price$1.52
Upside137.29%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.18%1.74%0.050.050.050.050.050.050.050.050.050.05
YoY Growth---2.03%1.21%1.80%-0.04%0.00%2.14%2.48%0.51%2.00%9.73%
Dividend Yield--3.49%3.98%3.99%4.27%3.70%4.53%3.57%3.99%3.97%4.22%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)79.13
(-) Cash Dividends Paid (M)35.19
(=) Cash Retained (M)43.93
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15.839.895.93
Cash Retained (M)43.9343.9343.93
(-) Cash Required (M)-15.83-9.89-5.93
(=) Excess Retained (M)28.1134.0438.00
(/) Shares Outstanding (M)288.45288.45288.45
(=) Excess Retained per Share0.100.120.13
LTM Dividend per Share0.120.120.12
(+) Excess Retained per Share0.100.120.13
(=) Adjusted Dividend0.220.240.25
WACC / Discount Rate7.64%7.64%7.64%
Growth Rate-2.00%-1.00%0.00%
Fair Value$2.23$2.75$3.32
Upside / Downside46.79%80.96%118.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)79.1378.3477.5576.7876.0175.2577.51
Payout Ratio44.48%53.58%62.69%71.79%80.90%90.00%92.50%
Projected Dividends (M)35.1941.9748.6155.1261.4967.7271.69

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.64%7.64%7.64%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)38.6038.9939.39
Year 2 PV (M)41.1241.9642.81
Year 3 PV (M)42.8744.2045.55
Year 4 PV (M)43.9845.8047.68
Year 5 PV (M)44.5546.8749.29
PV of Terminal Value (M)1,016.601,069.531,124.65
Equity Value (M)1,227.721,287.361,349.37
Shares Outstanding (M)288.45288.45288.45
Fair Value$4.26$4.46$4.68
Upside / Downside180.01%193.62%207.76%

High-Yield Dividend Screener

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