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Century Communities, Inc. (CCS)

Company Dividend Discount ModelIndustry: Residential ConstructionSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$162.33 - $430.63$248.23
Multi-Stage$110.05 - $120.30$115.08
Blended Fair Value$181.65
Current Price$63.37
Upside186.65%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%1.060.950.840.490.000.000.000.000.000.00
YoY Growth--11.47%12.86%71.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.58%0.99%1.31%0.92%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)214.38
(-) Cash Dividends Paid (M)34.43
(=) Cash Retained (M)179.95
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)42.8826.8016.08
Cash Retained (M)179.95179.95179.95
(-) Cash Required (M)-42.88-26.80-16.08
(=) Excess Retained (M)137.07153.15163.87
(/) Shares Outstanding (M)30.9830.9830.98
(=) Excess Retained per Share4.424.945.29
LTM Dividend per Share1.111.111.11
(+) Excess Retained per Share4.424.945.29
(=) Adjusted Dividend5.546.066.40
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.50%6.50%7.50%
Fair Value$162.33$248.23$430.63
Upside / Downside156.17%291.71%579.54%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)214.38228.32243.16258.96275.80293.72302.53
Payout Ratio16.06%30.85%45.64%60.42%75.21%90.00%92.50%
Projected Dividends (M)34.4370.43110.97156.48207.43264.35279.84

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)63.9564.5665.17
Year 2 PV (M)91.4993.2394.99
Year 3 PV (M)117.14120.50123.93
Year 4 PV (M)141.00146.42152.00
Year 5 PV (M)163.16171.04179.22
PV of Terminal Value (M)2,832.422,969.233,111.27
Equity Value (M)3,409.173,564.993,726.59
Shares Outstanding (M)30.9830.9830.98
Fair Value$110.05$115.08$120.30
Upside / Downside73.66%81.60%89.83%

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