DDM Analysis: SALM.OL

Valuation Snapshot

Stable Growth	$203.91 - $542.08	$312.01
Multi-Stage	$136.24 - $149.03	$142.52
Blended Fair Value	$227.26
Current Price	$533.00
Upside	-57.36%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	12.55%	17.95%	35.34	20.73	17.76	17.06	11.09	19.57	16.20	10.31	8.50	8.49
YoY Growth	-	-	70.44%	16.72%	4.09%	53.85%	-43.31%	20.76%	57.19%	21.32%	0.09%	25.24%
Dividend Yield	-	-	7.01%	3.04%	3.90%	2.44%	1.88%	5.63%	3.90%	3.12%	4.59%	4.18%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,150.00
(-) Cash Dividends Paid (M)	49.00
(=) Cash Retained (M)	1,101.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	230.00	143.75	86.25
Cash Retained (M)	1,101.00	1,101.00	1,101.00
(-) Cash Required (M)	-230.00	-143.75	-86.25
(=) Excess Retained (M)	871.00	957.25	1,014.75
(/) Shares Outstanding (M)	132.52	132.52	132.52
(=) Excess Retained per Share	6.57	7.22	7.66
LTM Dividend per Share	0.37	0.37	0.37
(+) Excess Retained per Share	6.57	7.22	7.66
(=) Adjusted Dividend	6.94	7.59	8.03
WACC / Discount Rate	9.09%	9.09%	9.09%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$203.91	$312.01	$542.08
Upside / Downside	-61.74%	-41.46%	1.70%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,150.00	1,224.75	1,304.36	1,389.14	1,479.44	1,575.60	1,622.87
Payout Ratio	4.26%	21.41%	38.56%	55.70%	72.85%	90.00%	92.50%
Projected Dividends (M)	49.00	262.20	502.92	773.81	1,077.80	1,418.04	1,501.15

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.09%	9.09%	9.09%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	238.09	240.35	242.61
Year 2 PV (M)	414.68	422.58	430.55
Year 3 PV (M)	579.38	596.02	612.96
Year 4 PV (M)	732.79	760.97	789.96
Year 5 PV (M)	875.47	917.75	961.66
PV of Terminal Value (M)	15,213.36	15,948.17	16,711.11
Equity Value (M)	18,053.78	18,885.85	19,748.85
Shares Outstanding (M)	132.52	132.52	132.52
Fair Value	$136.24	$142.52	$149.03
Upside / Downside	-74.44%	-73.26%	-72.04%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 21 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
GATX	GATX Corporation	1.45%	$2.47	28.36%
SF	Stifel Financial Corp.	1.45%	$1.86	30.82%
0HFN.L	Analog Devices, Inc.	1.44%	$3.90	84.88%
HAYN	Haynes International, Inc.	1.44%	$0.88	30.16%
0I58.L	Cummins Inc.	1.43%	$7.42	38.53%
0HRJ.L	CSX Corporation	1.42%	$0.51	33.32%
OLED	Universal Display Corporation	1.42%	$1.73	37.24%
BBW	Build-A-Bear Workshop, Inc.	1.41%	$0.86	19.50%
LBC	Luther Burbank Corporation	1.41%	$0.13	17.07%
SNDR	Schneider National, Inc.	1.41%	$0.38	58.72%
0R13.L	Church & Dwight Co., Inc.	1.40%	$1.16	36.55%
COHN	Cohen & Company Inc.	1.40%	$0.35	48.05%
HLI	Houlihan Lokey, Inc.	1.40%	$2.48	39.81%
PATK	Patrick Industries, Inc.	1.40%	$1.54	44.05%
CXT	Crane NXT, Co.	1.39%	$0.66	24.82%
ESBA	Empire State Realty OP, L.P.	1.39%	$0.09	49.94%
MMS	Maximus, Inc.	1.39%	$1.21	21.54%
WYNN	Wynn Resorts, Limited	1.39%	$1.70	34.98%
ATEN	A10 Networks, Inc.	1.38%	$0.24	34.61%
HYAC	Haymaker Acquisition Corp. III	1.38%	$0.16	37.41%
ISTR	Investar Holding Corporation	1.38%	$0.36	18.11%
MCY	Mercury General Corporation	1.38%	$1.27	16.00%
ACU	Acme United Corporation	1.37%	$0.55	28.31%
DE	Deere & Company	1.36%	$6.34	34.22%
HYAC-UN	Haymaker Acquisition Corp. 4	1.36%	$0.16	37.41%
RTX	RTX Corporation	1.36%	$2.56	52.52%
0HIN.L	Assurant, Inc.	1.35%	$3.22	19.47%
AL	Air Lease Corporation	1.35%	$0.86	9.51%
BGCP	BGC Partners, Inc.	1.34%	$0.06	11.88%
ESRT	Empire State Realty Trust, Inc.	1.34%	$0.09	49.94%
HUM	Humana Inc.	1.34%	$3.55	33.23%
ZEUS	Olympic Steel, Inc.	1.34%	$0.59	50.16%
0K9L.L	Nucor Corporation	1.33%	$2.22	31.04%
BY	Byline Bancorp, Inc.	1.33%	$0.39	13.97%
LPX	Louisiana-Pacific Corporation	1.33%	$1.09	35.19%
OPOF	Old Point Financial Corporation	1.33%	$0.56	32.91%
WSM	Williams-Sonoma, Inc.	1.33%	$2.50	27.85%
RUSHA	Rush Enterprises, Inc.	1.32%	$0.71	21.15%
VLEOX	Value Line Small Cap Opportunities Fund, Inc. Investor Class	1.32%	$0.79	56.29%
0IW7.L	Global Payments Inc.	1.31%	$1.01	13.82%
APO	Apollo Global Management, Inc.	1.31%	$1.92	27.59%
EMP	Entergy Mississippi, Inc. 1M BD 66	1.31%	$0.27	6.72%
NDSN	Nordson Corporation	1.31%	$3.15	36.67%
ROK	Rockwell Automation, Inc.	1.31%	$5.23	68.01%
UMBF	UMB Financial Corporation	1.31%	$1.52	18.87%
0L3I.L	The Charles Schwab Corporation	1.30%	$1.29	28.42%
0R2X.L	Corning Incorporated	1.30%	$1.15	72.69%
EBAY	eBay Inc.	1.30%	$1.13	24.20%
GGG	Graco Inc.	1.30%	$1.07	36.31%
HES	Hess Corporation	1.30%	$1.94	26.90%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

SalMar ASA (SALM.OL)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener