DDM Analysis: ABF.L

Valuation Snapshot

Stable Growth	$54.71 - $106.92	$75.38
Multi-Stage	$51.53 - $56.34	$53.89
Blended Fair Value	$64.63
Current Price	$18.95
Upside	241.08%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	7.00%	6.97%	0.67	0.46	0.51	0.07	0.36	0.48	0.44	0.40	0.37	0.36
YoY Growth	-	-	45.51%	-9.21%	675.51%	-81.92%	-24.30%	9.48%	9.36%	7.17%	2.95%	5.86%
Dividend Yield	-	-	2.86%	2.30%	4.01%	0.33%	1.79%	2.10%	1.90%	1.20%	1.22%	1.15%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	2,492.00
(-) Cash Dividends Paid (M)	825.00
(=) Cash Retained (M)	1,667.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	498.40	311.50	186.90
Cash Retained (M)	1,667.00	1,667.00	1,667.00
(-) Cash Required (M)	-498.40	-311.50	-186.90
(=) Excess Retained (M)	1,168.60	1,355.50	1,480.10
(/) Shares Outstanding (M)	751.31	751.31	751.31
(=) Excess Retained per Share	1.56	1.80	1.97
LTM Dividend per Share	1.10	1.10	1.10
(+) Excess Retained per Share	1.56	1.80	1.97
(=) Adjusted Dividend	2.65	2.90	3.07
WACC / Discount Rate	8.94%	8.94%	8.94%
Growth Rate	3.90%	4.90%	5.90%
Fair Value	$54.71	$75.38	$106.92
Upside / Downside	188.73%	297.77%	464.20%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	2,492.00	2,614.12	2,742.22	2,876.60	3,017.56	3,165.43	3,260.40
Payout Ratio	33.11%	44.48%	55.86%	67.24%	78.62%	90.00%	92.50%
Projected Dividends (M)	825.00	1,162.88	1,531.90	1,934.29	2,372.44	2,848.89	3,015.87

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.94%	8.94%	8.94%
Growth Rate	3.90%	4.90%	5.90%
Year 1 PV (M)	1,057.28	1,067.46	1,077.64
Year 2 PV (M)	1,266.31	1,290.81	1,315.53
Year 3 PV (M)	1,453.75	1,496.13	1,539.32
Year 4 PV (M)	1,621.13	1,684.45	1,749.60
Year 5 PV (M)	1,769.92	1,856.75	1,946.95
PV of Terminal Value (M)	31,546.61	33,094.23	34,702.01
Equity Value (M)	38,715.00	40,489.82	42,331.05
Shares Outstanding (M)	751.31	751.31	751.31
Fair Value	$51.53	$53.89	$56.34
Upside / Downside	171.93%	184.39%	197.32%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 25 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
MDC	M.D.C. Holdings, Inc.	0.86%	$0.54	55.94%
AXP	American Express Company	0.85%	$3.17	20.85%
FOXA	Fox Corporation	0.85%	$0.62	13.96%
LMST	Limestone Bancorp, Inc.	0.85%	$0.20	8.06%
RCL	Royal Caribbean Cruises Ltd.	0.85%	$2.41	16.19%
AZZ	AZZ Inc.	0.84%	$0.92	8.89%
HIBB	Hibbett, Inc.	0.84%	$0.74	9.00%
MAR	Marriott International, Inc.	0.84%	$2.62	27.38%
MORN	Morningstar, Inc.	0.84%	$1.77	20.03%
SGH	SMART Global Holdings, Inc.	0.84%	$0.14	30.96%
URI	United Rentals, Inc.	0.84%	$7.13	18.10%
0HYJ.L	Cintas Corporation	0.83%	$1.54	34.15%
EFX	Equifax Inc.	0.83%	$1.78	33.46%
GM	General Motors Company	0.82%	$0.66	21.22%
KVSA	Khosla Ventures Acquisition Co.	0.81%	$0.09	9.61%
WMT	Walmart Inc.	0.81%	$0.91	31.92%
BMI	Badger Meter, Inc.	0.80%	$1.41	30.10%
FRD	Friedman Industries, Incorporated	0.80%	$0.16	9.82%
ITT	ITT Inc.	0.80%	$1.40	22.66%
MLI	Mueller Industries, Inc.	0.80%	$0.94	13.89%
SSSSL	SuRo Capital Corp. 6.00% Notes due 2026	0.80%	$0.20	8.46%
RGLD	Royal Gold, Inc.	0.79%	$1.75	24.00%
VRSK	Verisk Analytics, Inc.	0.79%	$1.74	26.41%
COF	Capital One Financial Corporation	0.78%	$1.94	87.57%
EE	Excelerate Energy, Inc.	0.78%	$0.22	9.21%
0K36.L	Moody's Corporation	0.77%	$3.82	30.70%
HCI	HCI Group, Inc.	0.77%	$1.42	9.00%
PH	Parker-Hannifin Corporation	0.77%	$6.85	24.15%
SEI	Solaris Energy Infrastructure, Inc.	0.77%	$0.39	44.96%
0HQN.L	Cboe Global Markets, Inc.	0.76%	$1.90	20.31%
ASIC	Ategrity Specialty Holdings LLC	0.76%	$0.15	12.77%
GL	Globe Life Inc.	0.75%	$1.03	7.35%
0KYY.L	S&P Global Inc.	0.74%	$3.81	28.09%
PHM	PulteGroup, Inc.	0.74%	$0.89	6.67%
ROP	Roper Technologies, Inc.	0.74%	$3.20	22.09%
ZWS	Zurn Elkay Water Solutions Corporation	0.74%	$0.35	30.63%
JOE	The St. Joe Company	0.73%	$0.43	24.05%
TOL	Toll Brothers, Inc.	0.73%	$0.99	7.16%
TTEK	Tetra Tech, Inc.	0.73%	$0.25	26.25%
0HCB.L	Alcoa Corporation	0.72%	$0.40	9.08%
A	Agilent Technologies, Inc.	0.72%	$0.99	21.64%
FCFS	FirstCash Holdings, Inc	0.72%	$1.13	16.40%
TRAK	ReposiTrak, Inc.	0.72%	$0.09	22.94%
BKNG	Booking Holdings Inc.	0.71%	$37.78	24.39%
PGC	Peapack-Gladstone Financial Corporation	0.71%	$0.20	10.22%
ASO	Academy Sports and Outdoors, Inc.	0.70%	$0.37	6.63%
BRO	Brown & Brown, Inc.	0.70%	$0.54	18.02%
INTU	Intuit Inc.	0.70%	$4.39	29.97%
MSFT	Microsoft Corporation	0.70%	$3.31	23.52%
NCR	NCR Corporation	0.70%	$0.11	1.70%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Associated British Foods plc (ABF.L)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener