Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Lindab International AB (publ) (LIAB.ST)

Company Dividend Discount ModelIndustry: ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$230.98 - $1,246.34$418.69
Multi-Stage$187.93 - $205.55$196.58
Blended Fair Value$307.63
Current Price$198.20
Upside55.21%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS25.37%0.00%5.395.183.973.381.741.741.551.391.231.09
YoY Growth--4.01%30.39%17.69%94.03%0.00%12.61%11.21%12.63%13.10%0.00%
Dividend Yield--2.78%2.26%2.51%1.40%0.99%2.26%1.78%2.20%1.62%1.68%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)546.00
(-) Cash Dividends Paid (M)416.00
(=) Cash Retained (M)130.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)109.2068.2540.95
Cash Retained (M)130.00130.00130.00
(-) Cash Required (M)-109.20-68.25-40.95
(=) Excess Retained (M)20.8061.7589.05
(/) Shares Outstanding (M)76.9976.9976.99
(=) Excess Retained per Share0.270.801.16
LTM Dividend per Share5.405.405.40
(+) Excess Retained per Share0.270.801.16
(=) Adjusted Dividend5.676.216.56
WACC / Discount Rate6.74%6.74%6.74%
Growth Rate4.18%5.18%6.18%
Fair Value$230.98$418.69$1,246.34
Upside / Downside16.54%111.24%528.83%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)546.00574.28604.02635.30668.21702.82723.90
Payout Ratio76.19%78.95%81.71%84.48%87.24%90.00%92.50%
Projected Dividends (M)416.00453.41493.57536.68582.93632.53669.61

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.74%6.74%6.74%
Growth Rate4.18%5.18%6.18%
Year 1 PV (M)420.75424.78428.82
Year 2 PV (M)425.02433.22441.50
Year 3 PV (M)428.86441.33454.03
Year 4 PV (M)432.26449.10466.42
Year 5 PV (M)435.25456.55478.67
PV of Terminal Value (M)12,326.3912,929.4513,555.89
Equity Value (M)14,468.5315,134.4315,825.33
Shares Outstanding (M)76.9976.9976.99
Fair Value$187.93$196.58$205.55
Upside / Downside-5.18%-0.82%3.71%

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