Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

SalfaCorp S.A. (SALFACORP.SN)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$4,778.57 - $15,686.98$14,700.38
Multi-Stage$2,316.02 - $2,536.74$2,424.34
Blended Fair Value$8,562.36
Current Price$745.06
Upside1,049.22%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS11.07%0.00%23.4019.4516.817.5012.6813.840.000.000.000.00
YoY Growth--20.31%15.68%124.10%-40.84%-8.39%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--3.49%3.63%5.04%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)43,567.14
(-) Cash Dividends Paid (M)12,911.67
(=) Cash Retained (M)30,655.47
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8,713.435,445.893,267.54
Cash Retained (M)30,655.4730,655.4730,655.47
(-) Cash Required (M)-8,713.43-5,445.89-3,267.54
(=) Excess Retained (M)21,942.0425,209.5827,387.93
(/) Shares Outstanding (M)549.90549.90549.90
(=) Excess Retained per Share39.9045.8449.81
LTM Dividend per Share23.4823.4823.48
(+) Excess Retained per Share39.9045.8449.81
(=) Adjusted Dividend63.3869.3273.29
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate5.03%6.03%7.03%
Fair Value$4,778.57$14,700.38$15,686.98
Upside / Downside541.37%1,873.05%2,005.46%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)43,567.1446,192.8948,976.8951,928.6855,058.3858,376.6960,127.99
Payout Ratio29.64%41.71%53.78%65.85%77.93%90.00%92.50%
Projected Dividends (M)12,911.6719,266.6026,340.6334,197.3842,905.4852,539.0255,618.39

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate5.03%6.03%7.03%
Year 1 PV (M)17,933.5518,104.3118,275.06
Year 2 PV (M)22,821.7523,258.4123,699.21
Year 3 PV (M)27,578.9028,374.2029,184.63
Year 4 PV (M)32,207.6033,451.8734,731.86
Year 5 PV (M)36,710.3938,491.6640,341.41
PV of Terminal Value (M)1,136,331.231,191,468.391,248,725.38
Equity Value (M)1,273,583.441,333,148.841,394,957.54
Shares Outstanding (M)549.90549.90549.90
Fair Value$2,316.02$2,424.34$2,536.74
Upside / Downside210.85%225.39%240.48%

High-Yield Dividend Screener

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