Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Beijer Electronics Group AB (publ) (BELE.ST)

Company Dividend Discount ModelIndustry: Communication EquipmentSector: Technology

Valuation Snapshot

Stable Growth$95.68 - $164.15$125.27
Multi-Stage$105.78 - $115.97$110.78
Blended Fair Value$118.03
Current Price$125.40
Upside-5.88%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2022202120202019201820172016201520142013
DPS0.00%-10.29%0.500.000.000.490.000.000.820.820.820.82
YoY Growth--0.00%0.00%-100.00%0.00%0.00%-100.00%0.00%0.00%0.70%-44.45%
Dividend Yield--0.51%0.00%0.00%1.21%0.00%0.00%2.44%1.87%1.56%1.36%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)215.88
(-) Cash Dividends Paid (M)14.42
(=) Cash Retained (M)201.46
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)43.1826.9816.19
Cash Retained (M)201.46201.46201.46
(-) Cash Required (M)-43.18-26.98-16.19
(=) Excess Retained (M)158.28174.48185.27
(/) Shares Outstanding (M)28.9528.9528.95
(=) Excess Retained per Share5.476.036.40
LTM Dividend per Share0.500.500.50
(+) Excess Retained per Share5.476.036.40
(=) Adjusted Dividend5.976.536.90
WACC / Discount Rate8.92%8.92%8.92%
Growth Rate2.53%3.53%4.53%
Fair Value$95.68$125.27$164.15
Upside / Downside-23.70%-0.10%30.90%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)215.88223.49231.37239.53247.97256.71264.42
Payout Ratio6.68%23.34%40.01%56.67%73.34%90.00%92.50%
Projected Dividends (M)14.4252.1792.57135.74181.85231.04244.59

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.92%8.92%8.92%
Growth Rate2.53%3.53%4.53%
Year 1 PV (M)47.4447.9048.36
Year 2 PV (M)76.5378.0379.54
Year 3 PV (M)102.04105.06108.13
Year 4 PV (M)124.30129.22134.28
Year 5 PV (M)143.59150.73158.15
PV of Terminal Value (M)2,568.362,696.082,828.83
Equity Value (M)3,062.243,207.003,357.29
Shares Outstanding (M)28.9528.9528.95
Fair Value$105.78$110.78$115.97
Upside / Downside-15.64%-11.66%-7.52%

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