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Nuveen Global High Income Fund (JGH)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$25.05 - $36.05$30.42
Multi-Stage$42.95 - $47.03$44.95
Blended Fair Value$37.68
Current Price$12.93
Upside191.45%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.13%0.00%1.241.241.361.301.111.231.351.441.541.66
YoY Growth--0.00%-8.41%4.23%17.37%-10.17%-8.73%-6.33%-6.28%-7.44%0.00%
Dividend Yield--9.67%10.18%12.05%8.19%7.13%7.53%9.91%8.54%9.63%12.11%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)82.18
(-) Cash Dividends Paid (M)57.59
(=) Cash Retained (M)24.59
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)16.4410.276.16
Cash Retained (M)24.5924.5924.59
(-) Cash Required (M)-16.44-10.27-6.16
(=) Excess Retained (M)8.1514.3118.42
(/) Shares Outstanding (M)23.1823.1823.18
(=) Excess Retained per Share0.350.620.79
LTM Dividend per Share2.482.482.48
(+) Excess Retained per Share0.350.620.79
(=) Adjusted Dividend2.843.103.28
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$25.05$30.42$36.05
Upside / Downside93.72%135.24%178.80%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)82.1881.3680.5479.7478.9478.1580.50
Payout Ratio70.08%74.07%78.05%82.03%86.02%90.00%92.50%
Projected Dividends (M)57.5960.2662.8665.4167.9070.3474.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)54.6755.2355.79
Year 2 PV (M)51.7552.8253.89
Year 3 PV (M)48.8650.3751.92
Year 4 PV (M)46.0247.9349.90
Year 5 PV (M)43.2645.5147.85
PV of Terminal Value (M)750.93790.03830.74
Equity Value (M)995.501,041.891,090.09
Shares Outstanding (M)23.1823.1823.18
Fair Value$42.95$44.95$47.03
Upside / Downside232.18%247.66%263.75%

High-Yield Dividend Screener

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