Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Renew Holdings plc (RNWH.L)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$24.10 - $56.82$35.49
Multi-Stage$17.29 - $18.88$18.07
Blended Fair Value$26.78
Current Price$6.62
Upside304.53%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS21.52%15.75%0.190.180.170.170.130.070.100.080.070.06
YoY Growth--5.54%6.01%3.03%28.27%79.20%-26.91%26.24%19.82%13.34%30.03%
Dividend Yield--0.00%1.74%2.42%2.94%1.66%1.60%2.59%1.99%1.61%1.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)90.39
(-) Cash Dividends Paid (M)29.82
(=) Cash Retained (M)60.57
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18.0811.306.78
Cash Retained (M)60.5760.5760.57
(-) Cash Required (M)-18.08-11.30-6.78
(=) Excess Retained (M)42.4949.2753.79
(/) Shares Outstanding (M)79.1679.1679.16
(=) Excess Retained per Share0.540.620.68
LTM Dividend per Share0.380.380.38
(+) Excess Retained per Share0.540.620.68
(=) Adjusted Dividend0.911.001.06
WACC / Discount Rate9.50%9.50%9.50%
Growth Rate5.50%6.50%7.50%
Fair Value$24.10$35.49$56.82
Upside / Downside264.10%436.09%758.34%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)90.3996.26102.52109.18116.28123.84127.55
Payout Ratio32.99%44.39%55.79%67.19%78.60%90.00%92.50%
Projected Dividends (M)29.8242.7357.2073.3691.39111.45117.98

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.50%9.50%9.50%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)38.6639.0239.39
Year 2 PV (M)46.8147.7048.60
Year 3 PV (M)54.3255.8857.47
Year 4 PV (M)61.2263.5765.99
Year 5 PV (M)67.5470.8074.19
PV of Terminal Value (M)1,100.311,153.451,208.63
Equity Value (M)1,368.851,430.431,494.28
Shares Outstanding (M)79.1679.1679.16
Fair Value$17.29$18.07$18.88
Upside / Downside161.22%172.97%185.15%

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