Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Rejlers AB (publ) (REJL-B.ST)

Company Dividend Discount ModelIndustry: Consulting ServicesSector: Industrials

Valuation Snapshot

Stable Growth$664.63 - $1,911.97$1,791.80
Multi-Stage$266.00 - $290.99$278.27
Blended Fair Value$1,035.03
Current Price$188.00
Upside450.55%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS39.85%15.00%4.454.102.703.081.320.830.430.021.181.10
YoY Growth--8.51%51.82%-12.34%133.56%58.60%95.79%1,800.00%-98.10%6.91%0.00%
Dividend Yield--2.40%2.75%1.65%2.32%0.84%0.95%0.61%0.04%1.83%1.31%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)214.80
(-) Cash Dividends Paid (M)99.50
(=) Cash Retained (M)115.30
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)42.9626.8516.11
Cash Retained (M)115.30115.30115.30
(-) Cash Required (M)-42.96-26.85-16.11
(=) Excess Retained (M)72.3488.4599.19
(/) Shares Outstanding (M)22.3422.3422.34
(=) Excess Retained per Share3.243.964.44
LTM Dividend per Share4.454.454.45
(+) Excess Retained per Share3.243.964.44
(=) Adjusted Dividend7.698.418.89
WACC / Discount Rate6.72%6.72%6.72%
Growth Rate5.50%6.50%7.50%
Fair Value$664.63$1,791.80$1,911.97
Upside / Downside253.53%853.08%917.01%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)214.80228.76243.63259.47276.33294.29303.12
Payout Ratio46.32%55.06%63.79%72.53%81.26%90.00%92.50%
Projected Dividends (M)99.50125.95155.42188.19224.56264.87280.39

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.72%6.72%6.72%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)116.91118.02119.13
Year 2 PV (M)133.91136.46139.04
Year 3 PV (M)150.51154.83159.23
Year 4 PV (M)166.70173.12179.71
Year 5 PV (M)182.51191.33200.48
PV of Terminal Value (M)5,192.625,443.435,703.83
Equity Value (M)5,943.176,217.186,501.41
Shares Outstanding (M)22.3422.3422.34
Fair Value$266.00$278.27$290.99
Upside / Downside41.49%48.01%54.78%

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