Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Thermador Groupe S.A. (THEP.PA)

Company Dividend Discount ModelIndustry: Industrial - DistributionSector: Industrials

Valuation Snapshot

Stable Growth$333.53 - $1,620.92$715.06
Multi-Stage$229.56 - $251.47$240.31
Blended Fair Value$477.69
Current Price$73.70
Upside548.15%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.72%7.99%1.981.981.901.731.691.651.601.001.001.15
YoY Growth--0.03%4.00%9.87%2.11%2.87%2.93%60.84%-0.64%-12.70%25.11%
Dividend Yield--2.74%2.37%2.21%1.70%2.65%3.11%3.60%1.72%2.40%2.64%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)79.65
(-) Cash Dividends Paid (M)28.68
(=) Cash Retained (M)50.97
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15.939.965.97
Cash Retained (M)50.9750.9750.97
(-) Cash Required (M)-15.93-9.96-5.97
(=) Excess Retained (M)35.0441.0245.00
(/) Shares Outstanding (M)9.689.689.68
(=) Excess Retained per Share3.624.244.65
LTM Dividend per Share2.962.962.96
(+) Excess Retained per Share3.624.244.65
(=) Adjusted Dividend6.597.207.61
WACC / Discount Rate6.50%6.50%6.50%
Growth Rate4.44%5.44%6.44%
Fair Value$333.53$715.06$1,620.92
Upside / Downside352.55%870.23%2,099.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)79.6583.9888.5593.3798.44103.80106.91
Payout Ratio36.00%46.80%57.60%68.40%79.20%90.00%92.50%
Projected Dividends (M)28.6839.3051.0163.8677.9793.4298.89

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.50%6.50%6.50%
Growth Rate4.44%5.44%6.44%
Year 1 PV (M)36.5636.9137.26
Year 2 PV (M)44.1244.9745.83
Year 3 PV (M)51.3852.8754.39
Year 4 PV (M)58.3460.6062.94
Year 5 PV (M)65.0168.1871.48
PV of Terminal Value (M)1,965.822,061.752,161.39
Equity Value (M)2,221.212,325.282,433.27
Shares Outstanding (M)9.689.689.68
Fair Value$229.56$240.31$251.47
Upside / Downside211.48%226.07%241.21%

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