Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Mirbud S.A. (MRB.WA)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$164.19 - $193.44$181.28
Multi-Stage$118.57 - $130.16$124.26
Blended Fair Value$152.77
Current Price$13.84
Upside1,003.83%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.170.230.170.070.020.000.000.000.000.00
YoY Growth---25.48%40.90%149.99%300.00%0.00%-100.00%0.00%0.00%-100.00%0.00%
Dividend Yield--1.33%2.19%2.29%1.63%0.40%0.00%0.23%0.00%0.00%0.08%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)107.09
(-) Cash Dividends Paid (M)11.01
(=) Cash Retained (M)96.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21.4213.398.03
Cash Retained (M)96.0896.0896.08
(-) Cash Required (M)-21.42-13.39-8.03
(=) Excess Retained (M)74.6682.6988.04
(/) Shares Outstanding (M)110.09110.09110.09
(=) Excess Retained per Share0.680.750.80
LTM Dividend per Share0.100.100.10
(+) Excess Retained per Share0.680.750.80
(=) Adjusted Dividend0.780.850.90
WACC / Discount Rate0.99%0.99%0.99%
Growth Rate5.50%6.50%7.50%
Fair Value$164.19$181.28$193.44
Upside / Downside1,086.33%1,209.85%1,297.70%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)107.09114.05121.46129.35137.76146.72151.12
Payout Ratio10.28%26.22%42.17%58.11%74.06%90.00%92.50%
Projected Dividends (M)11.0129.9151.2275.17102.02132.04139.78

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate0.99%0.99%0.99%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)29.3429.6129.89
Year 2 PV (M)49.2750.2151.16
Year 3 PV (M)70.9372.9775.05
Year 4 PV (M)94.4398.06101.80
Year 5 PV (M)119.88125.67131.68
PV of Terminal Value (M)12,690.4113,303.3613,939.77
Equity Value (M)13,054.2613,679.8914,329.34
Shares Outstanding (M)110.09110.09110.09
Fair Value$118.57$124.26$130.16
Upside / Downside756.75%797.81%840.44%

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