Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hemnet Group AB (publ) (HEM.ST)

Company Dividend Discount ModelIndustry: Internet Content & InformationSector: Communication Services

Valuation Snapshot

Stable Growth$31.95 - $44.06$38.05
Multi-Stage$43.48 - $47.61$45.51
Blended Fair Value$41.78
Current Price$236.80
Upside-82.36%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS-1.62%0.00%1.211.030.580.000.001.310.000.000.000.00
YoY Growth--17.55%76.26%0.00%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.36%0.31%0.33%0.00%0.00%0.74%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)539.20
(-) Cash Dividends Paid (M)161.60
(=) Cash Retained (M)377.60
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)107.8467.4040.44
Cash Retained (M)377.60377.60377.60
(-) Cash Required (M)-107.84-67.40-40.44
(=) Excess Retained (M)269.76310.20337.16
(/) Shares Outstanding (M)95.4095.4095.40
(=) Excess Retained per Share2.833.253.53
LTM Dividend per Share1.691.691.69
(+) Excess Retained per Share2.833.253.53
(=) Adjusted Dividend4.524.955.23
WACC / Discount Rate11.87%11.87%11.87%
Growth Rate-2.00%-1.00%0.00%
Fair Value$31.95$38.05$44.06
Upside / Downside-86.51%-83.93%-81.40%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)539.20533.81528.47523.19517.95512.77528.16
Payout Ratio29.97%41.98%53.98%65.99%77.99%90.00%92.50%
Projected Dividends (M)161.60224.07285.28345.24403.97461.50488.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate11.87%11.87%11.87%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)198.28200.30202.33
Year 2 PV (M)223.38227.96232.59
Year 3 PV (M)239.21246.61254.16
Year 4 PV (M)247.69257.95268.53
Year 5 PV (M)250.39263.42277.00
PV of Terminal Value (M)2,989.243,144.893,306.97
Equity Value (M)4,148.184,341.154,541.58
Shares Outstanding (M)95.4095.4095.40
Fair Value$43.48$45.51$47.61
Upside / Downside-81.64%-80.78%-79.90%

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