Definitive Analysis
Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

CleanSpark, Inc. (CLSK)

Company Dividend Discount ModelIndustry: Software - ApplicationSector: Technology

Valuation Snapshot

Stable Growth$5.63 - $7.52$6.61
Multi-Stage$6.22 - $6.81$6.51
Blended Fair Value$6.56
Current Price$14.50
Upside-54.78%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%0.00%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)364.46
(-) Cash Dividends Paid (M)5.14
(=) Cash Retained (M)359.32
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)72.8945.5627.33
Cash Retained (M)359.32359.32359.32
(-) Cash Required (M)-72.89-45.56-27.33
(=) Excess Retained (M)286.43313.77331.99
(/) Shares Outstanding (M)295.67295.67295.67
(=) Excess Retained per Share0.971.061.12
LTM Dividend per Share0.020.020.02
(+) Excess Retained per Share0.971.061.12
(=) Adjusted Dividend0.991.081.14
WACC / Discount Rate15.16%15.16%15.16%
Growth Rate-2.00%-1.00%0.00%
Fair Value$5.63$6.61$7.52
Upside / Downside-61.17%-54.44%-48.14%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)364.46360.82357.21353.64350.10346.60357.00
Payout Ratio1.41%19.13%36.85%54.56%72.28%90.00%92.50%
Projected Dividends (M)5.1469.02131.62192.96253.06311.94330.22

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate15.16%15.16%15.16%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)59.3359.9360.54
Year 2 PV (M)97.2599.24101.26
Year 3 PV (M)122.55126.34130.20
Year 4 PV (M)138.15143.87149.77
Year 5 PV (M)146.38154.00161.93
PV of Terminal Value (M)1,274.011,340.351,409.43
Equity Value (M)1,837.651,923.732,013.13
Shares Outstanding (M)295.67295.67295.67
Fair Value$6.22$6.51$6.81
Upside / Downside-57.14%-55.13%-53.04%

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