Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

MIGO Opportunities Trust plc (MIGO.L)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$1.32 - $1.88$1.59
Multi-Stage$2.03 - $2.23$2.13
Blended Fair Value$1.86
Current Price$3.27
Upside-43.05%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%0.010.030.000.000.000.000.000.000.000.00
YoY Growth---82.04%607.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.17%0.90%0.14%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4.34
(-) Cash Dividends Paid (M)0.48
(=) Cash Retained (M)3.86
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.870.540.33
Cash Retained (M)3.863.863.86
(-) Cash Required (M)-0.87-0.54-0.33
(=) Excess Retained (M)2.993.323.53
(/) Shares Outstanding (M)22.7622.7622.76
(=) Excess Retained per Share0.130.150.16
LTM Dividend per Share0.020.020.02
(+) Excess Retained per Share0.130.150.16
(=) Adjusted Dividend0.150.170.18
WACC / Discount Rate9.36%9.36%9.36%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.32$1.59$1.88
Upside / Downside-59.76%-51.25%-42.39%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4.344.304.254.214.174.134.25
Payout Ratio11.08%26.87%42.65%58.43%74.22%90.00%92.50%
Projected Dividends (M)0.481.151.812.463.093.713.93

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.36%9.36%9.36%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)1.041.061.07
Year 2 PV (M)1.491.521.55
Year 3 PV (M)1.821.881.94
Year 4 PV (M)2.082.162.25
Year 5 PV (M)2.262.372.50
PV of Terminal Value (M)37.5439.4941.53
Equity Value (M)46.2348.4850.83
Shares Outstanding (M)22.7622.7622.76
Fair Value$2.03$2.13$2.23
Upside / Downside-37.88%-34.85%-31.70%

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