Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Cowen Inc. (COWN)

Company Dividend Discount ModelIndustry: Financial - Capital MarketsSector: Financial Services

Valuation Snapshot

Stable Growth$14.66 - $21.09$17.80
Multi-Stage$23.89 - $26.23$25.04
Blended Fair Value$21.42
Current Price$38.62
Upside-44.54%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2022202120202019201820172016201520142013
DPS0.00%0.00%0.690.570.390.000.000.000.000.000.000.00
YoY Growth--20.80%45.30%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.79%2.11%1.12%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)65.86
(-) Cash Dividends Paid (M)21.94
(=) Cash Retained (M)43.91
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13.178.234.94
Cash Retained (M)43.9143.9143.91
(-) Cash Required (M)-13.17-8.23-4.94
(=) Excess Retained (M)30.7435.6838.97
(/) Shares Outstanding (M)31.7431.7431.74
(=) Excess Retained per Share0.971.121.23
LTM Dividend per Share0.690.690.69
(+) Excess Retained per Share0.971.121.23
(=) Adjusted Dividend1.661.821.92
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$14.66$17.80$21.09
Upside / Downside-62.05%-53.92%-45.38%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)65.8665.2064.5463.9063.2662.6364.51
Payout Ratio33.32%44.66%55.99%67.33%78.66%90.00%92.50%
Projected Dividends (M)21.9429.1236.1443.0249.7656.3659.67

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)26.4226.6926.96
Year 2 PV (M)29.7530.3630.98
Year 3 PV (M)32.1433.1334.15
Year 4 PV (M)33.7335.1336.57
Year 5 PV (M)34.6636.4738.35
PV of Terminal Value (M)601.76633.10665.73
Equity Value (M)758.47794.88832.73
Shares Outstanding (M)31.7431.7431.74
Fair Value$23.89$25.04$26.23
Upside / Downside-38.13%-35.16%-32.07%

High-Yield Dividend Screener

« Prev Page 24 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
NDA-FI.HENordea Bank Abp5.73%$0.9467.38%
RBF.BKR&B Food Supply Public Company Limited5.73%$0.1781.37%
1882.HKHaitian International Holdings Limited5.72%$1.2733.58%
3339.HKLonking Holdings Limited5.72%$0.1736.46%
4126.TWOPacific Hospital Supply Co., Ltd5.72%$4.8486.09%
SLFSun Life Financial Inc.5.72%$3.6065.58%
0QKD.LForbo Holding AG5.71%$50.0340.66%
IPE.WAIPOPEMA Securities S.A.5.71%$0.2368.17%
SNOR.OLSpareBank 1 Nordmøre5.71%$10.0420.14%
3705.TWYungShin Global Holding Corporation5.70%$3.2590.33%
MST.BKMaybank Securities (Thailand) Public Company Limited5.70%$0.3875.36%
3462.TNomura Real Estate Master Fund, Inc.5.69%$9,849.8672.94%
CHILE.SNBanco de Chile5.69%$9.8578.63%
RSUL4.SAMetalúrgica Riosulense S.A.5.69%$3.9836.85%
600007.SSChina World Trade Center Co., Ltd.5.68%$1.1395.72%
AURG.OLAurskog Sparebank5.68%$15.0028.30%
BPO-PT.TOBrookfield Office Properties Inc5.68%$1.1634.59%
KTY.WAGrupa Kety S.A.5.68%$52.8592.39%
PREB.BKPre-Built Public Company Limited5.68%$0.2076.14%
3213.TWOMildef Crete Inc.5.67%$5.9677.23%
NAB.AXNational Australia Bank Limited5.67%$2.4066.40%
3282.TComforia Residential REIT, Inc5.66%$18,861.6284.64%
DTEL.BRDeutsche Telekom AG5.66%$1.1349.89%
HELG.OLSpareBank 1 Helgeland5.66%$10.3551.40%
SITHAI.BKSrithai Superware Public Company Limited5.66%$0.0697.25%
002884.SZGuangdong Lingxiao Pump Industry Co.,Ltd.5.65%$1.0077.13%
1535.TWChina Ecotek Corporation5.65%$2.9975.30%
8960.TUnited Urban Investment Corporation5.65%$10,346.6368.81%
SIILI.HESiili Solutions Oyj5.65%$0.2640.06%
AVEN.STAvensia AB (publ)5.64%$0.5078.26%
RPH.BKRatchaphruek Hospital Public Company Limited5.64%$0.2885.55%
1702.HKDongguang Chemical Limited5.63%$0.1123.80%
601033.SSGrandtop Yongxing Group Co., Ltd.5.63%$0.8583.54%
601398.SSIndustrial & Commercial Bank of China Ltd.5.63%$0.4543.37%
JDF.BKJD Food Public Company Limited5.63%$0.0852.54%
024110.KSIndustrial Bank of Korea5.62%$1,165.3436.50%
DHBK.QADoha Bank Q.P.S.C.5.62%$0.1655.17%
0667.HKChina East Education Holdings Limited5.61%$0.3885.28%
0807.HKSIIC Environment Holdings Ltd.5.61%$0.0625.08%
EKH.BKEkachai Medical Care Public Company Limited5.61%$0.2891.43%
HIFA-B.STHifab Group AB (publ.)5.61%$0.1742.74%
KCAR.BKKrungthai Car Rent and Lease Public Company Limited5.61%$0.3043.66%
000987.SZGuangzhou Yuexiu Financial Holdings Group Co., Ltd.5.60%$0.4663.54%
0VCO.LPeyto Exploration & Development Corp.5.60%$1.2970.79%
1537.TWKung Long Batteries Industrial Co.,Ltd5.60%$7.0072.79%
DVR.AXDiverger Limited5.60%$0.0769.90%
SECURE.BKnForce Secure Public Company Limited5.60%$0.7053.33%
029960.KQKorea Environment Technology Co., Ltd.5.59%$499.3892.03%
2057.HKZTO Express (Cayman) Inc.5.59%$9.3186.81%
3468.TStar Asia Investment Corporation5.59%$3,448.1578.34%