Definitive Analysis
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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Everest Re Group, Ltd. (0U96.L)

Company Dividend Discount ModelIndustry: Insurance - ReinsuranceSector: Financial Services

Valuation Snapshot

Stable Growth$728.21 - $2,590.53$2,381.42
Multi-Stage$337.18 - $368.53$352.57
Blended Fair Value$1,367.00
Current Price$350.23
Upside290.31%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.35%8.63%7.886.806.025.835.885.535.104.894.614.13
YoY Growth--15.97%12.94%3.24%-0.80%6.26%8.37%4.33%6.07%11.58%20.01%
Dividend Yield--2.17%1.71%1.68%1.93%2.37%2.87%2.35%1.90%1.97%2.09%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)552.00
(-) Cash Dividends Paid (M)338.00
(=) Cash Retained (M)214.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)110.4069.0041.40
Cash Retained (M)214.00214.00214.00
(-) Cash Required (M)-110.40-69.00-41.40
(=) Excess Retained (M)103.60145.00172.60
(/) Shares Outstanding (M)42.3842.3842.38
(=) Excess Retained per Share2.443.424.07
LTM Dividend per Share7.987.987.98
(+) Excess Retained per Share2.443.424.07
(=) Adjusted Dividend10.4211.4012.05
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate5.50%6.50%7.50%
Fair Value$728.21$2,381.42$2,590.53
Upside / Downside107.92%579.96%639.67%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)552.00587.88626.09666.79710.13756.29778.98
Payout Ratio61.23%66.99%72.74%78.49%84.25%90.00%92.50%
Projected Dividends (M)338.00393.79455.41523.38598.26680.66720.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)364.54368.00371.45
Year 2 PV (M)390.27397.70405.21
Year 3 PV (M)415.20427.12439.26
Year 4 PV (M)439.35456.24473.62
Year 5 PV (M)462.73485.08508.29
PV of Terminal Value (M)12,216.6012,806.6713,419.32
Equity Value (M)14,288.6914,940.8115,617.15
Shares Outstanding (M)42.3842.3842.38
Fair Value$337.18$352.57$368.53
Upside / Downside-3.73%0.67%5.22%

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