Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

LSL Property Services plc (LSL.L)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$4.85 - $6.49$5.70
Multi-Stage$13.85 - $15.37$14.59
Blended Fair Value$10.15
Current Price$3.04
Upside233.75%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.03%-8.38%0.110.110.110.040.000.110.110.100.130.12
YoY Growth--0.59%-0.50%182.60%0.00%-100.00%-3.50%9.72%-18.15%2.88%-55.62%
Dividend Yield--3.75%4.39%4.56%0.98%0.00%3.95%5.13%3.65%5.41%4.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)120.93
(-) Cash Dividends Paid (M)23.50
(=) Cash Retained (M)97.43
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)24.1915.129.07
Cash Retained (M)97.4397.4397.43
(-) Cash Required (M)-24.19-15.12-9.07
(=) Excess Retained (M)73.2582.3288.36
(/) Shares Outstanding (M)103.32103.32103.32
(=) Excess Retained per Share0.710.800.86
LTM Dividend per Share0.230.230.23
(+) Excess Retained per Share0.710.800.86
(=) Adjusted Dividend0.941.021.08
WACC / Discount Rate6.90%6.90%6.90%
Growth Rate-10.38%-9.38%-8.38%
Fair Value$4.85$5.70$6.49
Upside / Downside59.67%87.43%113.43%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)120.93109.5899.3089.9881.5373.8876.10
Payout Ratio19.43%33.54%47.66%61.77%75.89%90.00%92.50%
Projected Dividends (M)23.5036.7647.3255.5861.8766.4970.39

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.90%6.90%6.90%
Growth Rate-10.38%-9.38%-8.38%
Year 1 PV (M)34.0034.3834.76
Year 2 PV (M)40.5041.4142.33
Year 3 PV (M)44.0045.4947.02
Year 4 PV (M)45.3247.3749.50
Year 5 PV (M)45.0547.6250.31
PV of Terminal Value (M)1,221.821,291.531,364.39
Equity Value (M)1,430.701,507.821,588.30
Shares Outstanding (M)103.32103.32103.32
Fair Value$13.85$14.59$15.37
Upside / Downside355.52%380.07%405.70%

High-Yield Dividend Screener

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