Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker / Industry / Sector

Banco Latinoamericano de Comercio Exterior, S. A. (BLX)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$331.47 - $1,196.13$1,054.63
Multi-Stage$152.00 - $166.28$159.01
Blended Fair Value$606.82
Current Price$45.97
Upside1,220.03%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS4.33%2.98%1.970.980.981.041.211.591.661.641.631.62
YoY Growth--100.67%0.35%-6.30%-13.65%-24.14%-4.32%1.54%0.78%0.32%10.47%
Dividend Yield--5.38%3.29%5.62%6.70%7.98%15.45%8.14%5.77%5.86%6.69%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)222.39
(-) Cash Dividends Paid (M)82.41
(=) Cash Retained (M)139.98
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)44.4827.8016.68
Cash Retained (M)139.98139.98139.98
(-) Cash Required (M)-44.48-27.80-16.68
(=) Excess Retained (M)95.50112.18123.30
(/) Shares Outstanding (M)36.9836.9836.98
(=) Excess Retained per Share2.583.033.33
LTM Dividend per Share2.232.232.23
(+) Excess Retained per Share2.583.033.33
(=) Adjusted Dividend4.815.265.56
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate5.50%6.50%7.50%
Fair Value$331.47$1,054.63$1,196.13
Upside / Downside621.05%2,194.17%2,501.98%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)222.39236.85252.24268.64286.10304.69313.83
Payout Ratio37.06%47.65%58.23%68.82%79.41%90.00%92.50%
Projected Dividends (M)82.41112.85146.89184.88227.19274.22290.30

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)104.44105.43106.42
Year 2 PV (M)125.83128.23130.64
Year 3 PV (M)146.58150.79155.07
Year 4 PV (M)166.71173.12179.72
Year 5 PV (M)186.24195.23204.57
PV of Terminal Value (M)4,890.345,126.555,371.79
Equity Value (M)5,620.145,879.356,148.22
Shares Outstanding (M)36.9836.9836.98
Fair Value$152.00$159.01$166.28
Upside / Downside230.64%245.89%261.71%

High-Yield Dividend Screener

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